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Ademola Adebise – Entrepreneurial Journey Of The CEO/MD Of Wema Bank

Ademola Adebise

Ademola Abimbola Adebise is the Managing Director/Chief Executive Officer of Wema Bank. He also serves on the Boards of AIICO Pension Funds Administrator, AIICO Insurance Plc, Nigerian Inter-Bank Settlement Systems Plc (NIBSS) and the Financial Institution Training Centre (FITC).

See Also: Biography and leadership positions of Oby Ezekwesili – #BringBackOurGirls Co-Founder

Start Your Business in 30 Days Even If You Don't Have An Idea
Start Your Business in 30 Days Even If You Don’t Have An Idea

Ademola Adebise Background

Ademola Adebise was born on the 31st of October 1966, to the family of Mr and Mrs Adegoke Adebise, in Lagos State. He started primary school in 1972, at the Surulere Baptist Primary School, and finished in 1978.

In the same year, he resumed at the Lagos Baptist Academy, for his secondary education. On attaining his WAEC certificate in 1983, he moved on to the University of Lagos, where he graduated with a bachelor’s degree in Computer Science in 1987.

After his undergraduate studies, Adebise obtained a master’s degree in Business Administration (MBA) from the Lagos Business School (LBS). He also attended the Advanced Management Program (AMP) of Harvard Business School.

Adebise is a member of several professional institutions, including the Institute of Chartered Accountants of Nigeria, the Chartered Institute of Taxation of Nigeria, the Chartered Institute of Bankers of Nigeria, the Institute of Directors of Nigeria, etc.

Ademola Adebise is married to Adejumoke Adebise, and they are blessed with three children.

See Also: Charles Soludo: biography, and political escapades of a former CBN Governor

Ademola Adebise

Ademola Adebise Career

Adebise started his career in 1988, as a programmer/systems analyst, at an indigenous Information technology company in Nigeria. After a year, he moved to the Information technology department of Chartered Bank (now Stanbic IBTC bank).

Between 1989 and 2000, he became the Head of the information technology department of Chartered Bank. He also worked as the Chief financial officer (CFO) of the bank.

Later, he joined National Bank as an Assistant General Manager in 2001. His job role included the supervision of several functions, including; risk management, treasury, and corporate banking. His remarkable and satisfactory performance as Assistant General Manager paved way for him to be the General manager in 2005.

See Also: Biography and net worth of The CEO Of Access Bank- Herbert Wigwe.

After a while, he left the banking sector and joined Accenture, as the Head of the Finance and Performance Management Practice for Nigeria.

He then returned to the banking industry and joined Wema bank in 2009, serving in different capacities, including the Executive Director in charge of South Bank, and Deputy Managing Director supervising Corporate Banking, Treasury, and Support Functions, till 2017.

Mr. Segun Oloketuyi, the then Managing Director of Wema bank retired in July 2018. So, Adebise automatically became the acting Managing Director. He eventually became the substantive Managing Director (MD)/Chief Executive Director (CEO) of Wema Bank, on the 1st of October, 2018, after the approval of the Central Bank of Nigeria (CBN).

See Also: 100 Profitable business ideas for aspiring entrepreneurs and investors.

Go from idea to starting your business in 30 days
Go from idea to starting your business in 30 days
Ademola Adebise

Wema Bank

Wema Bank is the pioneer of Nigeria’s first fully digital bank – ALAT. ALAT provides a full range of retail, SME banking, corporate banking, treasury, trade services, and financial advisory to its customers.

See Also: Biography and story of Afolabi Adeola – the co-founder of GTBank

Wema Bank operates with a national banking license, issued by the Central Bank of Nigeria (CBN), to provide commercial banking services. The offerings of the bank include retail and corporate banking services, trade finance, treasury, as well as foreign exchange operations.

The bank has a network of over one hundred and thirty-six branches and service centres across Nigeria. Each of these branches and service centres have the backing of a robust ICT platform, through which banking operations are seamlessly carried out.

Ademola Adebise

Ademola Adebise’s Achievements As MD/CEO Of Wema Bank

  • Under his administration as the CEO/MD of Wema Bank, the bank shared dividend for the first time in fifteen years. The bank last shared dividend under the tenure of Mr Tunde Lemo – a former CBN deputy governor.
  • The bank launched the first digital bank in Nigeria – ALAT, under Ademola Adebise’s administration.
  • Anchor Borrowers Scheme for farmers.

See Also: Godwin Emefiele – Governor of the Central Bank of Nigeria – CBN

Boards Where Ademola Adebise Serves

  • Adebise is on the board of Nigeria Inter-Bank Settlement System Plc (NIBSS).
  • He was formerly a board member of Great Nigerian Insurance PLC.
  • Ademola Adebise serves on the board of AIICO Insurance Plc.
  • He is a board member of the AIICO Pension Managers Limited.

See Also: Business funding opportunities for entrepreneurs to grow their businesses.

Awards And Recognitions Of Ademola Adebise

  • BusinessDay Award for the Top 25 CEOs in Nigeria – 2019
Ademola Adebise

Ademola Adebise’s Quotes

“…For you to properly serve your customer, you also need to identify the customer.”

“You cannot be competent in everything…”

“…Banks are in business to create shareholders’ value. “Intermediation is basically the business of banking.”

“Physical presence is important, but relatively today, it is not as important as the digital space.”

“It’s not just about churning out products, but about meeting the needs of customers.”

“There are two ways to grow – you grow organically or you grow inorganically.”

“Business models are changing with the adoption of new technologies.”

See Also: Akinwumi Adesina – President of the African Development Bank Group

Entrepreneurial Lesson From Ademola Adebise

Self Development Pays

Ademola Adebise studied computer engineering and as such should be in the technology space. But, he had interest in the financial sector, so what did he do?

Adebise went to obtain a Masters’s degree in Business Administration and also took professional courses so that he could be skilled in the financial service industry. Personal development helped him grow in his career.

As an entrepreneur, never be complacent. You have to keep developing yourself by learning new skills everyday. By investing in self development, you will stay ahead in life and in business.

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