Leadership

We are led by exceptional professionals and visionaries with invaluable industry knowledge and local market insights, combined with proven expertise in global financial markets, they are charting the course for Coronation Merchant Bank.

Our Board of Directors

Executive management

Chairman
Babatunde Folawiyo
B.Sc Economics and LLB; LLM

Mr. Folawiyo is the Managing Director of the Yinka Folawiyo Group – an organisation with interests in energy, agriculture, shipping, real estate and engineering – as well as a Director at MTN Nigeria Communications Ltd.

Over the course of his career, he has been actively involved in petroleum exploration activities under the indigenous programme of the Nigerian Petroleum Industry, and was instrumental in pioneering developmental activities in the Benin Embayment. Since 1996, he has served as Vice President of the Nigeria Association of Indigenous Petroleum Explorers and Productions (NAIPEC), an umbrella body for Indigenous Operators in the nation’s upstream sector. During the 2005 recapitalisation/consolidation of the banking industry, he led Marina International Bank Ltd into a successful merger with Access Bank Plc, and served on the board of the Bank until February 2016. He was also a Director at Unic Insurance Plc.

His achievements include an appointment as Honorary Consul of Barbados in Lagos, Nigeria, a position he holds to this day, and the receipt of the African Business Leadership Award in 2010. He is a member of the Bar Association of England and Wales, and the Nigerian Bar Association.

NON-EXECUTIVE DIRECTOR
Evelyn Oputu
B.Sc Business Administration

Ms. Oputu currently sits on the boards of several companies in a diverse range of sectors, including insurance, mining, medical services, manufacturing and oil and gas.

In 1982, she was headhunted to found the Treasury & Financial Services Division at International Merchant Bank, before she progressed to Senior Manager & Deputy Head of the Corporate Finance Division. Subsequently, she was made Chairman and Chief Executive at KES Products Ltd. She also served as Executive Director at First Bank Nigeria Plc, where she was responsible for the Corporate Development Division and the Corporate Finance & International Division. From 2005 to 2014, she was the MD/CEO of Bank of Industry Ltd. (BOI).

Her achievements include an appointment as a member of the National Directorate of Employment in 1987 and appointment as Chairman of the Committee of the Financial Management of Aviation Parastatals in 2000.

Board member
Adamu Mahmoud Atta
BA. International Relations/International Economics; MA. Development Economics; Masters Political Science

Mr. Atta founded and heads the consultancy, Matad Group Nigeria Limited (“Matad”), and through this, he has gained over twenty years’ experience consulting for various businesses in areas such as socio-economic and feasibility studies, analysis and diagnostic reviews. Under his leadership, Matad continues to evolve, having provided consulting services funded by the World Bank, African Development Bank, Department for International Developments, and the United Nations Development Programme, amongst others.
 
Mr. Atta has experience serving on the boards of various companies, including WAPIC Insurance Plc, Access Investment & Securities Limited, Inter Foods Limited, Workwell Engineering & Tractor Nigeria Limited and Supertex, amongst others. He has also been appointed onto various committees by the Federal Government of Nigeria to help coordinate systems for monitoring Oil & Gas supplies to industries and to instil transparency in the sector.

Mr. Atta has been appointed to various committees in the oil, gas and textile industries by the Federal Government, and to the Nigerian Business Forum by the President. He also played a role in the work of the Nigerian Extractive Industry Transparency Initiative (N-EITI) and was involved in the creation of the accounting model which tracks development in oil and gas industries.

NON-EXECUTIVE DIRECTOR
Olubunmi Fayokun
Bachelor of Laws (LL.B)

Admitted to the Nigerian Bar – 1985, Ms. Fayokun is a Senior Partner in the law firm of Aluko & Oyebode and heads the firm’s Capital Markets’ and M&A practice groups. Prior to joining the firm, Ms. Fayokun was the Legal Adviser/Company Secretary of Denham Management Limited.

Ms. Fayokun’s career spans over three decades during which she has represented a highly diversified clientele of top-tier indigenous, international and multinational companies in various sectors including: banking, oil and gas, FMCG, power, aviation and insurance.

Ms. Fayokun is recognised in Who’s Who Legal as one of the world’s leading lawyers in M&A, Capital Markets and Energy & Natural Resources and has consistently been ranked a Leading Lawyer in IFLR1000 – The Guide to the World’s leading Financial Law Firms. Ms. Fayokun has served on various committees established by the Securities and Exchange Commission for the purpose of promoting the development of the Nigerian capital market, including the CMC Rules and Compliance Sub-committee and the CMC Market Infrastructure Sub-committee.

Ms. Fayokun is a Council Member of the Nigerian Bar Association Section on Business Law, was a Director of the Association of Issuing Houses of Nigeria, a former Treasurer of the Capital Markets Solicitors’ Association and played a key role in the establishment of the Nigerian Association of Securities Dealers (NASD) OTC market. Ms. Fayokun was appointed to the board of Coronation Merchant Bank on 30 May, 2017 and her appointment was approved by the Central Bank of Nigeria on 1 November, 2017.

Board member
Babatunde Dabiri
B.Sc Economics; MBA

Mr. Dabiri is a retired Banking CEO who is now a member of numerous boards – he is a Director at Academy Press Plc and Mutual Benefits Assurance Plc, and Chairman at Lawson Thomas and Colleagues Ltd. He sits on the board of the University of Lagos Holding Company Ltd and on the Advancement Board of the University of Ibadan. He is also a Board Member of LEAP Africa, an organisation committed to developing dynamic, innovative and principled youth leaders.
 
Mr. Dabiri’s career spanned over three decades, during which he worked at various financial institutions such as Prime Merchant Bank, Continental Merchant Bank, and Fountain Trust Merchant Bank Ltd. He served in various leadership positions over the course of his career, and eventually became the first GMD/CEO of Sterling Bank from January 2006 to February 2008, until he retired from banking. Since retirement, he has been involved in several businesses in various economic sectors.
 
Some of his achievements include being the founding Chairman of Lagos State Pensions Commission (LASPEC), a position he held for 6 years. Between 2003 and 2005, he was the Alumni President of the Lagos Business School, and from 2004 to 2007, National President of the Igbobi College Old Boys Association (ICOBA). He served on the Governing Council of the Lagos State University for 8 years and has been on the Corona Schools Trust Council for 20 years. 

Board member
Suzanne Olufunke Iroche
B.Sc Economics; Masters of Management

Mrs. Iroche is currently the CEO of Marnaby Limited – a financial consultancy and advisory services firm. She became a board member of Coronation Merchant Bank in October 2012.

She began her career at First Bank of Nigeria as a Foreign Exchange Supervisor in 1981, after which she then advanced to various positions at the International Merchant Bank and Chartered Bank Plc. She also held various leadership positions at the United Bank for Africa (UBA) Plc., where, as Executive Director of Global and Institutional Banking from 2006 to 2008, she was responsible for the expansion of UBA’s banking franchise to other African countries, as well as for the supervision of existing offshore operations of the Bank in Ghana and New York. In 2009, she was appointed CEO of Finbank by the Central Bank of Nigeria, where she significantly reduced the loss position of the Bank, reduced operating costs by 25% and grew deposits by 35%.

Some of her achievements include appointment as a member of the University of Lagos Advancement Board in 2010 and appointment as a member of the advisory board of WISCAR (Women In Successful Careers) – an NGO assisting professional women to succeed in their careers.

Non-Executive Director
Idaere Gogo Ogan
B.Sc. (Hons) Economics, MBA International Finance

Mr Ogan has more than 28 years’ experience across key areas of Banking, Insurance and Oil and Gas. He is the Group Chairman of Calvary Group which includes BECCA Petroleum and Gas Limited, Cordero Engineering Services Limited and Calvary Travels and Logistics Limited, a position he has held for twenty (20) years. In this role, he has gained expansive experience in Oil and Gas management, Engineering services, and Logistics.

Prior to his appointment as Chairman of the Calvary Group, he was the Head, Corporate Bank Pharmaceutical Group at Guaranty Trust Bank PLC.

Mr. Ogan sits on the Board of several companies as Director and Chairman. Currently, he is the Chairman, Board of Directors of United Securities Limited (USL); Director in Marina Securities Limited and Eastern Bulkcem Company Limited (Eagle Cement) and a ranking member of Access Bank Plc Shareholders’ Audit Committee,

He is a member, Institute of Directors of Nigeria which is an affiliate of Institute of Directors United Kingdom.

Mr. Ogan was appointed to the board of Coronation Merchant Bank on 21 July, 2017 and his appointment was approved by the Central Bank of Nigeria on 1 November 201John Does

Board member
Larry Ettah
B.Sc Industrial Chemistry; MBA, GSB

Mr. Ettah is the Group Managing Director/Chief Executive Officer of UAC of Nigeria Plc. (UACN) and is Chairman of the following publicly quoted companies: UAC Property Development Company Plc (UPDC), Chemical & Allied Products Plc (CAP), Portland Paints & Products Nigeria Plc and Livestock Feeds Plc.

He began his career as a Management Trainee at UACN in 1988 and was promoted to the board of UACN in 2004. Prior to this promotion, he held several senior management positions within the company, including Executive Director, and Human Resources and Divisional Managing Director of the Mr Bigg’s Division of UAC.

Some of his numerous achievements include an appointment as the first Vice President of the Nigeria Employers’ Consultative Association (NECA), as well as Vice President (Multinationals) of Manufacturers Association of Nigeria (MAN). In addition, he is a Council Member of the Lagos Chamber of Commerce & Industry (LCCI).

Managing Director/Chief Executive Officer
Banjo Adegbohungbe
BSc. Mechanical Engineering, MBA​

Banjo has over 25 years banking experience in operations, technology and product management spanning international trade, foreign and local payments, foreign exchange, fixed income, money markets and loans.​

He spent 14 years in Citibank Nigeria (formerly Nigeria International Bank Ltd) in various functions including technology, business process improvement and trade operations, rising to become the Head, Trade Operations in 2005 prior to joining Access Bank in March 2007. He was at various times group head, Global Trade, group head, Global Payments and group head, Corporate Operations before joining Coronation Merchant Bank in July 2018.​

As Executive Director and Chief Operating Officer at Coronation Merchant Bank, he is responsible for the strategic direction for the back office, technology and electronic/digital channels for the group

Chief Risk Officer
Magnus Nnoka
BSc. Economics, MBA, MSc. Risk Managemen

Magnus Nnoka has over 20 years’ experience in the banking sector that cut across core areas of Treasury, Branch Management/operations and enterprise risk management where he has spent over 15 years

Prior to joining Coronation Merchant Bank, he was Head, Business support & Recovery unit at Union Bank where he contributed 25% to the bank’s gross earnings through recovery of impaired loans in 2015. Before this, he was a Country Head, Group Special Asset Management at Standard Chartered Bank Plc and was also the Head, Credit Risk Management, in Diamond Bank Plc.

As Chief Risk Officer, Magnus is responsible for development and implementation of effective enterprise risk  management  framework in accordance with industry and global best practices

GH LEGAL SERVICES & ADMINISTRATION
Cornelia George Utuk
LLB; BL; MBA

As the Group Head and Company Secretariat of the Legal and Administration Group at Coronation Merchant Bank, Mrs. Utuk’s responsibilities include providing advice and support on matters related to statutory regulations, employee relations, litigation, with the aim of mitigating Coronation Merchant Bank’s legal exposure; leading the development and implementation of the Bank’s legal strategy, as aligned with business goals; coordinating the identification of risks and their implications and advising accordingly; and reviewing the regulations of the organisation.

She began her two-decade-long career in the Credit Office of the now-defunct Standard Trust Bank in June 1999 and remained there until 2005, when it merged with the United Bank of Africa (UBA) Plc. Whilst at UBA, she developed knowledge and experience in Credit Analysis, Credit Control, Credit Monitoring and Credit Administration. In 2007, she left UBA to join Marina Securities Limited (MSL), as the Company Secretary/Head of Corporate Services. During her time at MSL, she also served as the Company Secretary of its subsidiaries, Marina Securities Stockbroking Services Ltd. and United Securities Ltd. She joined Associated Discount House Limited (ADHL) in September 2014 as the Company Secretary/Legal Adviser and Group Head for Corporate Services.

Mrs. Utuk was enrolled as a Solicitor and Advocate of the Supreme Court of Nigeria in 1998. She is a member of the Business Law section of the Nigerian Bar Association, the Commonwealth Lawyers Association, and an Affiliate Member of the Chartered Institute of Personnel Management in the UK.

Group Head, Securities Dealing
Iyobosa Sorae
B.Sc Business Administration; MBA

Mrs. Sorae is a Fixed Income expert with experience in Fixed Income Trading, Portfolio Management, and Operational Management. As the Group Head of Securities Dealing at Coronation Merchant Bank since August 2015, Mrs. Sorae’s responsibilities include ensuring and managing the solvency of the bank, market and liquidity risks, profitable investments, and facilitating the development and implementation of activities to contribute to the business’s market share, annual revenue and growth targets.

She commenced her career after participating in the traineeship programme at the Access Bank School of Banking Excellence in May 2006. Thereafter, Mrs. Sorae became Head, Assistant Branch Operations, and in April 2007, she was appointed to lead the Fixed Income Department of Access Bank Plc. From there, she was transferred to the Corporate Finance Unit of the Bank in January 2011. Mrs. Sorae joined Dunn Loren Merrifield in March 2011 as Head of Fixed Income Sales and Trading, where she was responsible for setting up the fixed income unit, as it was a start-up investment banking firm at the time.

She has, at various times, participated in the Wharton Executive Education program undertaking courses on Investment Strategies and Portfolio Management. One of her notable achievements includes generating net income in excess of USD 2.0 million within the first year of Dunn Loren Merrifield operations, despite operating with limited balance sheet support and relatively low name recognition. Mrs. Sorae is also ACI certified (Association Cambiste Internationale).

Chief Compliance Officer (CCO)
Ibrahim Bello
B.Sc. Accounting, FCA, MBA

As Head of Compliance at Coronation Merchant Bank, Mr. Bello’s responsibilities include the provision of operational and advisory support in the development and implementation of all compliance strategies and concerns. He is also charged with establishing strong compliance standards in accordance with industry and global best practices, and acting as a liaison between the Bank and all regulatory bodies.

He has gained over a decade’s experience in financial control, fund management, relationship management, compliance and risk management. He commenced his career at Saro Agro Sciences Limited in 2004 as an Accountant, and then progressed to the role of Financial Controller at Stanbic IBTC Pension Managers Ltd., gaining a mass of expertise in risk and compliance, stockbroking, and fund management, in a variety of positions. In 2009, he became the Head of the Relationship Management Desk for Foreign Stockbroking clients. Before he joined Coronation Merchant Bank, he served as a Compliance Manager at Citibank Nigeria.

He has an MBA from Warwick Business School and is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), as well as an Associate Certified Anti-Money Laundering Specialist (ACAMS).

GH, CORPORATE BANKING
Ademola Adekoya
B.Sc. Estate Management

Mr. Adekoya is an experienced banker whose core banking experience has covered financial and business advisory, wealth management, corporate finance, and credit and marketing. As the Group Head of Corporate Banking at Coronation Merchant Bank, he is responsible for the development of marketing and sales strategies, as well as products and services for the Division; originating and managing the bank’s relationships within the corporate market.

Mr. Adekoya began his banking career in August 2002 at Guaranty Trust Bank Plc (GTB) as an Executive Trainee in the Energy Unit of the Credit and Marketing Group. Prior to joining GTB, he worked as Head of Property Management at Leke Sanni & Associates. In May 2003, Mr. Adekoya joined Access Bank Plc as Senior Banking Officer, Global Financial Markets. He joined Coronation Merchant Bank in August 2015 as Assistant General Manager of Corporate Banking.

His achievements include participating in quasi-equity for Access Bank via long term convertible debenture, which is the first of such investment in a Nigerian Bank by a development finance institution. He also participated in promoting Gender Empowerment at Access Bank, by raising funds from the International Finance Corporation.

Chief Financial Officer
Chukwukadibia Okoye
Postgraduate Diploma, Business Administration and MBA (Finance); ACA, ACCA, MNIM

Mr. Okoye is a treasury and credit accounting expert, with expertise in financial and management reporting, risk assessments and controls, equity valuations and corporate finance, and financial assurance and analysis. As the Group Head of Financial Control at Coronation Merchant Bank, his responsibilities include directing the fiscal functions of the Bank; overseeing the preparation of its budget and implementation; anticipating and controlling financial risks; and ensuring the development and implementation of accounting policies and procedures, in accordance with leading practices and standards.

Mr Okoye’s accounting experience began at PricewaterhouseCoopers (PwC) Nigeria, where he trained in Assurance and Advisory Services. He was involved in several IFRS Conversion Engagements for the firm’s clients. After his time in consulting, he joined United Bank for Africa as Team Lead of Financial Control and Head of Financial and Technical Analysis, where he was responsible for IFRS Compliance and Financial Reporting. In November 2015, he joined Coronation Merchant Bank as Head of Financial Control.

He is a member of Nigeria Institute of Management. He is a member of the Association of Chartered Certified Accountants UK and Associate member of Institute of Chartered Accountant of Nigeria.

Chief Audit Executive
Dele Dopemu
B.sc Zoology (Science), FCA, CISA, ACIN, IIA

Dele has acquired over two decades’ professional banking experience spanning across Risk Management, Internal Control, Internal Audit and banking operations.

Prior to his current role as the Chief Internal Auditor, he was the Head, Quality Assurance Internal Audit Group in Access Bank where he was responsible for aligning the processes and procedures defined by the Board and Top Management in line with the best practice. As the Country Operating Officer in Access Bank Zambia, he was responsible for the Bank’s operations and Information Technology.

As the Chief Internal Auditor, Dele provides independent assurance to the Board of Directors and Senior Management on the quality and effectiveness of the Bank internal control, risk management, governance systems and processes.

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Head, COronation Securities
Uwana Ekpat