Dr. Lawrence Olusegun Aina, OFR, (known as Segun Aina for short) stands as a beacon of excellence and an embodiment of transformative leadership in banking, education, financial technology and philanthropy. He is a global professional banking leader, a fintech ecosystem builder variously referred to as the Africa Fintech Grandmaster, a chartered arbitrator and a respected futurist.
Born with a vision that transcended ordinary aspirations, Dr. Aina has dedicated his life to shaping industries, empowering communities, and building legacies that have touched countless lives.
A stellar academic foundation
Dr. Aina’s journey began in Ibadan, Oyo State, where he was born to parents who hail from Otan Ayegbaju, Osun State. His remarkable academic foundation was laid at the St Patrick’s Catholic Primary School, Abebi Ibadan and at Ibadan City Academy for his secondary education. He achieved the University of London GCE O’Level in Form Four and a Division One in WASCE in Form Five, turning out to be one of the very best in his class. Pursuing higher education, he studied and became an Associate of the then London Institute of Bankers, earned a bachelor’s degree in accounting from the University of Lagos, a Master’s degree in Banking and Finance from the University of Ibadan, where he was recognized for the best dissertation in his class. To complement his expertise and prepare him adequately for executive management as well as corporate leadership responsibilities, he underwent executive education at esteemed institutions like Lagos Business School, INSEAD, France; IMD, Switzerland and Harvard Business School, USA.
Revolutionising the professional banking sector
Dr. Aina’s professional career in banking is nothing short of legendary. Rising through the ranks, he served at United Bank for Africa (UBA), where he left as a Branch Manager to take up the role of Assistant General Manager in the then newly established Ecobank, and left as Executive Director of Operations and Technology to ultimately led Fountain Trust Bank as Managing Director and CEO from where he voluntarily retired from active banking. During his tenure, he drove innovation, technological advancements, and nationwide expansions, leaving an indelible mark on the Nigerian banking industry. His board leadership roles while in active banking service extended to prestigious institutions, including First Securities Discount House (FSDH), Financial Institutions Training Centre (FITC), and the Nigerian Interbank Settlement System (NIBSS). As President of the West African Bankers Association (Nigerian Chapter), he championed initiatives like the ECOWAS Traveller’s Cheques, while strengthening regional financial integration.
In 2012, Dr. Aina’s election as President of the Chartered Institute of Bankers of Nigeria (CIBN) heralded a new era of transformation. With the full support of his colleagues on the Council, his Presidency saw the rebranding of CIBN, the establishment of a banking code of conduct, creation of the Centre for Financial Studies (CFS) and moving of the Institute to global recognition by pioneering the creating of International branches of the Institute in the UK and Canada. His international influence in positioning the CIBN for global relevance culminated in his unanimous election in 2017 as the pioneer Chairman of the Global Banking Education Standards Board, a position he held for six years before voluntarily stepping down in 2023.
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Championing financial technology and innovation
Dr. Aina foresaw the potential of financial technology long before it became mainstream. In 2002, he founded Fintech Associates Ltd., a pioneering firm providing innovative financial technology solutions. At about the same time he created and was the pioneer board chair of the then Fleet Technology, now known as Vatebra as a subsidiary of the bank. Vatebra today is one of the leading financial technology companies in Nigeria and some other African countries. As the initiator and driving force behind the establishment of Fintech Association of Nigeria in 2017 and the Africa Fintech Network in 2019, he played a pivotal role in shaping the fintech ecosystem across the African continent as he was the pioneer President of both organisations. Through various initiatives, Dr. Aina has been instrumental in fostering collaboration and innovation in the industry and showcasing Africa’s tech innovation potential in the global arena. The digital world in recognition of his dynamism and dogged leadership elected him as pioneer Chairman of the International Digital Economies Association (IDEA) as well as pioneer board member of the Global Fintech Alliance formed in 2024. His latest initiative is the Opolo Global Innovation Ltd focusing on nurturing innovators and entrepreneurs while supporting university researchers to move research to Innovation and Entrepreneurship. The company incorporated in Nigeria and Canada currently operate in 13 locations across Nigeria with fully functioning Innovation hubs located in the campus of seven leading Nigeria universities across all geopolitical zones and with partners across continents.
A lifelong commitment to education and philanthropy
Education has been a cornerstone of Dr. Aina’s contributions. He has served on the advancement boards of several universities, including Obafemi Awolowo University Ile-Ife Federal University of Technology Akure, Osun State University Osogbo and has been Chairman of the Advancement Board of Federal University of Technology Akure for the past 14 years and serves as a board member of University of Ibadan Research Foundation from inception to date, offering his expertise and resources pro bono in these assignments. He also serves as a member of the TETFund Research and Development Standing Committee. His philanthropic endeavours through the Segun Aina Foundation established 30 years ago in 1995 empowered youths through scholarships, mentorship programs, and leadership initiatives. The Foundation’s endowments, youth development centre, and community radio programs underscore his unwavering commitment to societal growth.
Service to community and nation
Dr. Aina’s dedication extends beyond professional achievements. As a proud son of Osun State, he has championed numerous developmental initiatives, from serving as Chairman of the board of UNDP-Osun State Sustainable Development Program from 2003 to 2010 to his membership of Osun State COVID-19 Relief Committee to leading the Osun Development Association as Chairman from 2017 to date, among many other contributions to Osun State. His presidency of the Otan Ayegbaju Progressive Union (the apex organisation of his home community) from 2003 to 2007 catalysed significant socio-economic advancements in his hometown. During that period, he initiated the Boluwaduro Development Union, an umbrella development organisation of the 5 communities making up the Boluwaduro Local Govt. He was the banking industry representative at the 2014 Nigeria National Confab and led the Professional Organisations group of representatives of 15 professional associations participating at the confab.
Recognition and honours
Dr. Aina’s contributions have been widely recognized, earning him numerous awards, including community awards, Osun State Govt Awards in 1995 and 2019, and at the national level, the Officer of the Order of the Federal Republic (OFR) in 2010. He had received honorary doctorate degrees from four reputable Nigerian universities in 2013, 2016, 2018 and 2022. Furthermore, the University of Ibadan Alumni Association honoured him with the Most Distinguished Alumnus Award 2021. And on the global stage, he was recognized and honoured with the Stevie Gold Lifetime Achievement Award in Financial Technology in New York in 2024. These honours and accolades celebrate a life devoted to excellence, service, and impact.
Family and religious commitment
Dr. Aina is a devoted family man, with strong Catholic faith from birth today and a strong advocate for inter-religious harmony and has championed several spiritual and physical development initiatives in many Catholic Dioceses. Though a devout Catholic, he has supported various religious groups, fostering unity and cooperation.
Simsiola Sogbesan, manager, Fintech Association of Nigeria, writes from Lagos
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