23, Marina, Lagos, Nigeria
+(234) 7002255264

Executive Management

Mr. Waheed A. Olagunju ED SME

Managing Director/CEO



Mr. Pitan has corporate and banking experience spanning over 25 years. He graduated with a BSc (Hons) degree in Economics as a UAC scholar from the University of Ibadan in 1982.  He obtained a Master’s degree in International Management as a Rotary International Scholar from the American Graduate School of International Management, Thunderbird Campus, Glendale, Arizona. He is an alumnus of Lagos Business School (SMP 5) and London Business School (SEP 43 ). He is also an alumnus of the Haggai Institute in Singapore.  He is an ordained senior pastor of the Redeemed Christian Church of God.

Pitan started his banking career in 1986 at Citibank Nigeria. He subsequently joined Industrial Bank Limited (Merchant Bankers) as part of the pioneer team in the role of Head, Trade Finance. He left the Bank in 1991 to run Credit Lease Nigeria Limited, a company founded by him to pursue his dream in export business.

Mr. Pitan came back to the banking industry in 1996 by joining FSB International Bank Plc as AGM / Head of Middle Tier market and public sector. He later served as Group Head, Commercial and Consumer Banking Group.  He also headed the Corporate Banking and Energy groups. He was promoted to Executive Director of the Bank and Managing Director of ENSEC (Energy division) in March 2001.

Mr. Pitan joined First Interstate Bank Plc in August 2004 as Managing Director/Chief Executive Officer. He led the Bank successfully through a merger with eight other Banks to form Unity Bank Plc. From January 2006 to February 2009 when he voluntarily retired, he served as Executive Director of Unity Bank Plc in charge of Corporate Banking and Treasury Management.

Olukayode had participated in many innovative transactions in the Nigerian Capital Market. He was the Chairman of the Technical Committee that led to the merger of Centerpoint Securities Ltd and FIIST Ventures Ltd to form Unity Registrars Ltd and served as Chairman of the Unity Registrars Ltd. He was also the Chairman of the Technical Committee that merged Kapital insurance Plc, lntercontinental Assurance Company Ltd and Global Commerce and General Assurance Co Ltd into UnityKapital lnsurance Co Plc and also served as Director of the new entity. He was the Chairman of the Technical Committee of the landmark transaction where nine banks were merged to form Unity Bank PLC and the listing of the bank on the Nigerian Stock Exchange. He also midwifed the formation of FUG Pensions Limited by serving as the Technical Chairman for the pooling together of the interests of  Futureview Financial Services Ltd, Unity Bank Plc and Glanvill Enthoven & Co Ltd to form a viable and significant player in the Pensions management industry. He subsequently served as Chairman of FUG Pensions Ltd. Mr Pitan has also served as the alternative Director of Kakawa Discount House Limited,  Director Newdevco Investments & Securities co. Limited, Director Banque International Du Benin (BIBE) and currently Chairman, Habitation of Hope- An NGO set up by Pastor(Mrs) Folu Adeboye to salvage, transform and empower the abandoned, hopeless and homeless street boys and girls in our society. He was recently the MD/CEO of Caroline Properties Ltd and director of Excel E& P Ltd. E& P Ltd.

Mr. Waheed A. Olagunju ED SME
Dr. Waheed A. Olagunju, ED (SME)

Executive Director, Small and Medium Enterprises

Name: Dr. Waheed A. Olagunju

Current position:   Executive Director, Small and Medium Enterprises

Educational profile:

Dr Waheed A Olagunju 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. Under his leadership of the SME Directorate, the bank’s annual lending to SMEs rose phenomenally to N5.6 billion in 2015 which represented 205% increase over the average annual lending of N1.8 billion to SMEs in previous years.

Between 15th February, 2016 and 27th May 2017 Dr Olagunju 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). As at December 2016, the bank wide loans approved rose by 9% to N150 billion compared with N138.5 billion that was recorded in 2015. Disbursements to MSMEs also went up by 42% within the same period to N8billion from N5.6billion in 2015. The bank wide ratio of non-performing loans (NPL) reduced to 3.72% in 2016 from 5.75% in 2015. Also the Operating Profit Before Tax (PBT) rose to N17.4bn in 2016 from N11.95bn in 2015 which represented 46% increase. 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. It is instructive to note that he handled other responsibilities as General Manager Strategic Planning, Business Development and Corporate Communications concurrently with his duties as Company Secretary. Due to his versatility, Dr Olagunju 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.

Role in the transformation of NIDB into BOI:

Dr Olagunju 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. In the early years of BOI, Dr Olagunju 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 similarly 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.

Pre Banking Career:

Prior to his being head haunted to join the Nigerian Industrial Development Bank in August 1990, Dr Olagunju had a distinguished broadcast career with the Nigerian Television Authority between July 1981 and July 1990 in the course of which he rose meteorically to become Controller of News and Head of the Economy Desk. In that capacity he, amongst other achievements, developed a communication package that was designed to mobilise public support for Nigeria’s Structural Adjustment Programme (SAP) that met with formidable resistance when it was launched in the mid eighties by the Federal Government.

Educational profile:      Dr Olagunju bagged his Bachelors and Masters degrees from the University of Lagos in 1981 and 1984 respectively as well a professional certificate in Investment Appraisal and Risk Analysis from the Queens University, Canada in 2013 and a Doctorate Degree in Business Administration from the Paris School of Business in 2017.

Mrs. Toyin Adeniji


Mrs. Adeniji is an Associate of the Institute of Chartered Accountants of Nigeria. She holds the Bachelor of Science (B. Sc.) Degree in Civil Engineering with Second Class Honours (Upper Division) from the University of Lagos and a Master of Business Administration (MBA) Degree from the Harvard Graduate School of Business Administration.

Mrs. Adeniji’s experience in the financial industry spans various areas. She has acquired considerable experience at the International Finance Corporation (IFC) as Investment Officer in the Syndications & International Securities and Global Mining Departments, Head, Women in Business and Principal Operations Officer, SME Development.

She also functioned as the Managing Director of Susu Microfinance Bank Limited, an institution licensed by the Central Bank of Nigeria to provide a broad range of financial services to micro entrepreneurs and unbanked market. Prior to her engagement by the International Finance Corporation (IFC), Mrs. Adeniji had a stint with Arthur Anderson (Chartered Accountants).

Mrs. Toyin Adeniji holds a Bachelor of Science degree in civil engineering, an Associate Membership of the Institute of Chartered Accountants of Nigeria (ICAN) and an MBA from the Harvard Graduate School of Business.

Mr. Tobin Jonathan


Mr. Tobin Jonathan has over 27 years’ experience in Agriculture value chain and Micro, Small and Medium Enterprises financing. He started his working career in 1989 when he joined the Development Finance Department of the Central Bank of Nigeria. By dent of hard work and commitment, he rose through the ranks to the position of Assistant Director. Prior to joining the Bank of Industry, he managed the CBN, N220 billion Micro Small and Medium Enterprises Development Office, and was the Project Manager of the N20 billion of the CBN, Anchor Borrower’s Rice project involving about 70,000 smallholder farmers in Kebbi State.

Mr. Tobin Jonathan holds a Bachelor of Science degree in Agricultural Economics and Extension. He also trained in Project Management fast track from the Boston University, USA.

MR. Simon Aranonu. ED LE
MR. Simon Aranonu. ED LE

Executive Director Large Enterprise

Name: Mr. Simon Aranonu

Simon Aranonu holds a Bachelor of Science degree from the University of Nigeria. He won the University Foundation prize as the best graduating student in Finance in 1984. He is also a chartered Accountant. Mr. Aranonu is a graduate of the Advance Management programme of Stanford University California, United States.

Simon has attended various business leadership programmes in Harvard Business School Massachusetts, Chicago Business School, Chicago as well as Cranfield University, Milton Keynes, United Kingdom.

Simon has also attended training programs in Citibank School of Banking, Long Island City, New York, Chase Manhattan Bank, New York and Mellon Bank, Philadelphia. Simon, whose forte is Credit and Corporate Governance, is licensed by IFC (an arm of World Bank) to train Company Directors on Corporate Governance. Simon is a beneficiary of the USAID- sponsored Best and Brightest African Bankers training program in United States (Spring 2000).

Simon, who is a senior Pastor in The Redeemed Christian Church of God, has over 27 years banking and financial consulting experience and served as Executive Director in Global and Intercontinental banks (now Access Bank). Simon started his banking career in the then Continental Merchant Bank (formerly Chase Merchant Bank) in 1987. He worked at various times in Liberty Merchant Bank and the then Manufacturers Merchant Bank.

Simon Aranonu is Executive Director in charge of Large Enterprises for Bank of Industry.


General Manager (SME NORTH)



Shekarau D. Omar  (HRPL) graduated with 2nd Class Upper (B.Ed) Honors degree from Ahmadu Bello University, Zaria in 1985. He also obtained two Masters degrees in Educational Administration (M.Ed, 1991) and International Law and Diplomacy (MILD, 1992) from University of Lagos.

He is a Licensed Human Resource Professional; a member of the Society for Human Resources Management (SHRM); a member of the Chartered Institute of Personnel Management (CIPM) and a Member of the Chartered Institute of Administration of Nigeria.

Had previously served the Military, University community, commercial Banks and Telecommunications before joining BOI in 2005 as a Senior Manager/Head of Human Resources. He rose to become a General Manager in 2014.

MR.AKEEM OLATUNJI ADESINA. General Manager (Operation and Technology)
MR.AKEEM OLATUNJI ADESINA. General Manager (Operation and Technology)

General Manager (Operation and Technology)

Name: Akeem Olatunji Adesina


Akeem Olatunji Adesina is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and Associate member of the Chartered Institute of Taxation of Nigeria (CITN). He is a graduate of Accounting and he also holds a Master of Business Administration (MBA) degree from Obafemi Awolowo University, Ile Ife.

Akeem was the pioneer Head of Finance and Chief Financial Officer of the Bank from 2001 when the Bank was reconstructed from Nigerian Industrial Development Bank Limited (NIDB) to Bank of Industry Limited (BOI), this position he held till December 2013.

He was promoted to position of General Manager in January 2014 and he oversees the Operations and Technology Division. He supervises the Operations Group (Foreign, Domestic and Trade), Information Technology Group and Operational Excellence Group. He has attended several courses, training and conferences in Project Supervision, Finance, Management and International Financial Reporting Standards in different Countries all over the world. He has over 27 years of banking experience.

He sits on the Board of CCHub Growth Capital Limited, Kam Industries (Nig.) Limited among others.

DR.EZEKIEL OSENI. Chief Risk Officer
DR.EZEKIEL OSENI. Chief Risk Officer

Chief Risk Officer



Ezekiel Oseni, Ph.D. is the Chief Risk Officer of the Bank.. He supervised the design and implementation of the Bank’s Enterprise-wide Risk Management (ERM) Framework in 2013. His unwavering devotion to implementing the ERM framework contributed to  the Bank’s first ever rating of A- from a domestic rating agency (Agusto & Co.) in 2014. Under his watch as the Chief Risk Officer, the Bank in 2015 and 2016, was able to secure AA+ (nga) and Aa1 ratings from Fitch and Moody’s respectively. In 2016, the Bank was able to move the domestic rating by Agusto & Co. to A+. He has been able to ensure the automation of most of the Credit and Risk Asset Management processes in the Bank.

He was the pioneer Head of Internal Control and Audit Division.. He saw to the affairs of the Division for eight years before he was transferred to Risk Management Division of the Bank. Prior to his employment in Bank of Industry, he taught in several higher institutions in Nigeria including Ibadan Polytechnic, University of Ilorin, Obafemi Awolowo University, Osun State University, Kwara State Polytechnic, Osun State College of Technology, Kano State Polytechnic and Olabisi Onabanjo University, Ago Iwoye. He is currently an adjunct lecturer at Department of Banking and Finance, University of Lagos, Nigeria where he teaches new business creation and entrepreneurship management on the postgraduate programme. He was also the Head, Internal Control Unit of former Citizens International Bank, Nigeria.

Ezekiel holds a B.Sc. and M.Sc. degrees in Accounting from University of Ilorin, Nigeria and a Ph.D. degree in Business and Applied Economics from Olabisi Onabanjo University, Ago-Iwoye, Nigeria. He is a fellow of the Institute of Chartered Accountants of Nigeria, Associate member of Chartered Institute of Stockbrokers and a Certified Information System Auditor (CISA). He has published several articles in reputable academic journals across the globe.

Ezekiel is happily married to Dr. (Mrs.) Funmi Oseni and they are blessed with three boys.

MR. Joseph O. Babatunde. General Manager (Large Enterprises)
MR. Leonard Kange.  General Manager (Large Enterprises)

General Manager (Large Enterprises)

Name: Leonard Kange


Leonard Kange is an accomplished Business Leader with over 27 years of domestic and international experience in the Financial Services Industry. His experience in the Industry spans Relationship Management, Strategy, Investment Banking, Treasury, Information Technology, Corporate Banking, Commercial Banking, Financial Advisory Services and Insurance. His areas of expertise include but not limited to Mergers & Acquisitions, Project Finance, Project Management, Financial Management, Risk Management, Operations Management, Leadership & People Management, etc.

Mr. Kange joins the Bank of Industry from the Royal Bank of Canada where he was the Senior Retail and Franchise Specialist. In this role, he was responsible for Business Development & management of major client relationships plus negotiating and implementing complex financing structures, portfolio management, risk assessment and monitoring on behalf of RBC for the benefit of clients. He was also responsible for developing Business Plans, distilling target markets and converting new clients

Prior to joining Royal Bank of Canada, Mr. Kange had a brief stint as a Financial Advisor at Freedom 55 Financial, Toronto, where he developed solid financial plans for clients. He also designed and implemented sales campaigns including ‘cold calling’, thereby significantly increasing sales by 31%.

Mr. Kange spent over 13 years at FSB International Bank Plc before seeking international banking experience. At FSB International Bank Plc, Mr Kange occupied several senior management roles including leading the relationship management teams in Corporate and Investment Banking, heading the Strategy and IT functions and Executive Assistant to the Chairman/CEO of the Bank. At the point of his voluntary exit in Year 2005, he was the General Manager and Group Head, Corporate & Investment Banking.