Rand Merchant Bank Nigeria appoints Bayo Ajayi acting CEO

The board of directors of Rand Merchant Bank (RMB) Nigeria has announced the appointment of Bayo Ajayi as the acting Chief Executive Officer.

According to a statement made available to BusinessDay on Thursday February 21, 2024, the bank said that the new appointment has the approval of the Central Bank of Nigeria (CBN).

“On behalf of the Board of directors at RMB Nigeria, I welcome Bayo Ajayi as the acting CEO, and I am confident that under his leadership, we will continue to effectively partner our clients, grow the business and positively contribute to Nigeria’s economy,” Emrie Brown, RMB CEO and chairman of the RMB Nigeria Board, said.

Prior to his new role, Ajayi was an Executive Director on the RMB Nigeria Board and Chief Finance Officer at RMB Nigeria. He brings a wealth of experience to the role, having previously served in various leadership positions in the banking sector in Nigeria and across Africa over the last 24 years.

He has a track record of delivering results and creating value for clients and stakeholders, and the Board looks forward to working with him to achieve the bank’s strategic objectives.

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“I’m humbled by the opportunity to take up this role at such a critical time for Nigeria. We will continue to partner with our clients as they navigate through the headwinds,” Ajayi said in response to his appointment.

Ajayi obtained a B.Sc. Chemical Engineering from the Obafemi Awolowo University and has attended multiple senior management courses across the globe. He is a Fellow of both the Institute of Chartered Accountants of Nigeria (ICAN) and Association of Chartered Certified Accountants (ACCA), UK.

According to the statement, the seamless leadership transition reflects the bank’s robust talent and leadership depth and commitment to maintaining a sustainable and resilient organisation that delivers value to its clients and stakeholders.

“The bank remains deeply invested in providing innovative financial solutions that enable businesses to thrive’.