WAHEED OLAGUNJU – TRLC 2018 SPEAKER

WAHEED OLAGUNJU is the Executive Director, Small and Medium Enterprises, Bank of Industry (BOI). He had on two separate occasion acted as the Managing Director/Chief Executive Officer before he was reassigned the Executive Director (Small and Medium Enterprises).

Waheed joined the Bank of Industry’s precursor institution the Nigerian Industrial Development Bank (NIDB) in 1990 as a Senior Manager and rose to the position of Executive Director (Business Development) in 2012 during which he had responsibilities for Strategic Planning, New Business Development, External & Intergovernmental Relations, Legal Services, Corporate Secretariat and Corporate Communications.

He acted as Managing Director & Chief Executive Officer between April and May 2014. He was subsequently reassigned as Executive Director, Small and Medium Enterprises (SMEs) in August 2014.

Between 15th February, 2016 and 27th May 2017 He again acted as Managing Director & CEO in addition to his responsibilities as Executive Director SMEs. Under his watch the bank recorded remarkable improvements especially regarding support for Micro Small and Medium Enterprises (MSMEs).

All these culminated in BOI’s ratings by international and domestic rating agencies being upgraded and affirmed by 2016. While Moody’s assigned BOI Aa1 in 2016 up from Ba3 of 2015, Agusto’s rating of AA- in 2016 was higher than A+ of 2015. AA+ assigned by Fitch in 2015 was affirmed in 2016.

In the last twenty eight (28) years Dr Olagunju headed five different departments/ directorates in the bank. After leading the Corporate Communications Department for four years he was appointed Assistant Company Secretary and Secretary of the Executive Management Committee in 1994 and was subsequently appointed Company Secretary and Secretary to the Board in 1997. He held the position for fifteen (15) years until he was elevated to the Board in 2012 as Executive Director.

He consistently demonstrated extra-ordinary efficiency, competence, capacity and capability in successfully taking on higher responsibilities assigned to him in the course of his twenty seven (27) year banking career by the institution’s successive Managements and Boards of Directors. He accordingly stands out as one of the architects and strong drivers of BOI’s outstanding turnaround and transformation into one of Africa’s best Development Finance Institutions (DFI) that has earned the confidence of its domestic and foreign development partners, financiers, customers, international and Nigerian rating agencies and stakeholders in general.

Waheed who was actively involved with the reconstruction of NIDB into BOI (2000-2001) and the consolidation of the mandates of NIDB, the Nigerian Bank for Commerce and Industry (NBCI) and the National Economic Reconstruction Fund (NERFUND) into that of the Bank of Industry, worked very closely with then leadership of the Federal Ministry of Industry and Messrs KPMG, the consultancy firm that was engaged to handle the exercise. He also coordinated the diagnostic study of the bank that was undertaken between 2004 and 2005 by the Swedish Consultants (Messrs Swedish Development Advisers) who were appointed by the African Development Bank. He played a leading role in the implementation of their recommendations that formed a vital input into BOI’s paradigm shift that triggered the bank’s rapid transformation in 2006. He has all along been a strong member of BOI’s Senior Management team, and later it’s Board of Directors, that has been driving the bank’s highly impressive performance.

Waheed holds a Doctorate Degree in Business Administration from the Paris School of Business He bagged his Bachelors and Masters degrees from the University of Lagos respectively as well a professional certificate in Investment Appraisal and Risk Analysis from the Queens University, Canada.

 

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