“Unity Bank Appoints Ebenezer Kolawole as Acting MD/CEO Following Tomi Somefun’s Retirement”

A New Era for Unity Bank
Unity Bank has announced the appointment of Mr. Ebenezer Kolawole as its acting Managing Director and Chief Executive Officer (MD/CEO). This decision follows the retirement of Mrs. Tomi Somefun, who has completed her tenure and proceeded on terminal leave. The appointment, approved by the Central Bank of Nigeria (CBN), was announced during the bank’s 18th Annual General Meeting held in Lagos on Wednesday. Kolawole, a seasoned banker with over three decades of experience, is expected to steer the bank through its ongoing corporate transformation and strategic initiatives.

A Stellar Career: Ebenezer Kolawole’s Journey
Ebenezer Kolawole brings a wealth of experience to his new role. He joined Unity Bank in 2015 as the Chief Financial Officer (CFO) and was later appointed Executive Director in February 2018, overseeing Finance, Operations, and Information Technology. His career in the financial services industry began in 1992 at Caribbean Finance Limited in Kaduna. Over the years, he has held key positions at prominent institutions, including Ecobank, Standard Trust Bank (STB), United Bank for Africa (UBA), and Mainstreet Bank.

Kolawole played a pivotal role in the merger of STB and UBA, serving as CFO of UBA post-merger. At Mainstreet Bank, he led the bank’s turnaround and transformation initiatives as Group Chief Finance Officer. He also had a brief stint at Globacom, Nigeria’s leading telecommunications company, where he contributed to corporate business development.

Academic and Professional Excellence
Kolawole is a graduate of Obafemi Awolowo University, Ile-Ife, where he earned a First-Class Honors degree in Accounting. He has also participated in executive education programs at prestigious institutions such as Columbia Business School in New York and The Wharton School of the University of Pennsylvania in Philadelphia.

His professional affiliations include being a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a Fellow of the Institute of Credit Administration (FICA), an Honorary Member of the Chartered Institute of Bankers of Nigeria (CIBN), and a member of the Institute of Directors and the Nigeria Institute of Management.

Strategic Mandate: Driving Unity Bank’s Transformation
In his new role as acting MD/CEO, Kolawole is tasked with finalizing Unity Bank’s ongoing corporate programs and advancing its strategic business initiatives. His appointment aligns with the bank’s succession and business continuity plans, ensuring a smooth transition and sustained growth.

Unity Bank has been undergoing significant transformation, including its proposed merger with Providus Bank, which received approval from the CBN in August. The merger, supported by a N700 billion financial package from the apex bank, is expected to strengthen Unity Bank’s position in the Nigerian banking sector.

A Tribute to Tomi Somefun
The appointment of Kolawole marks the end of an era under the leadership of Mrs. Tomi Somefun, who retired after a successful tenure as MD/CEO. Somefun’s leadership saw Unity Bank navigate challenging economic conditions and implement key reforms to enhance its operational efficiency and customer service. Her contributions have laid a solid foundation for Kolawole to build upon as he takes the helm.

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 A Promising Future for Unity Bank
With Ebenezer Kolawole at the helm, Unity Bank is poised to continue its journey of transformation and growth. His extensive experience, strategic vision, and commitment to excellence make him well-suited to lead the bank through its next phase of development. As Unity Bank finalizes its merger with Providus Bank and implements its strategic initiatives, stakeholders can look forward to a stronger, more resilient institution under Kolawole’s leadership.