Funke Osibodu

Last updated
Olufunke Iyabo Osibodu
Born1959
NationalityNigerian
OccupationCEO
Spouse Victor Gbolade Osibodu

Olufunke Iyabo Osibodu or Funke Osibodu is a Nigerian banker who led Ecobank Nigeria and the Union Bank of Nigeria.

Life

Funke Osibodu was born in January 1959. [1] She attended the University of Ife and the Harvard Business School. [2]

She was CEO and later a director of the holding company of Ecobank Nigeria until she left in 2006. [3] Her husband Victor Gbolade Osibodu is a Nigerian entrepreneur. [4]

She came to notice when there was a shake-up in the Nigerian banking industry when five bank CEOs were dismissed on 13 August 2009, and five replacements were named by the Central Bank of Nigeria. [3] She was chosen to lead the Union Bank of Nigeria replacing Bartholomew Bassey Ebong. [5] Others replaced on the same day included the CEO of FinBank who was replaced by Suzanne Iroche. [3] Ebong was sacked for giving collateral free multibillion-dollar loans to speculators that included Peter Ololo. [6]

Osibodu was praised for the transparency and discipline that she introduced at the Union Bank of Nigeria. She was placed at position 47 on a list of the world's most powerful businesswomen by the Financial Times in 2011. [5] She was the only African woman to make the list. [7] She stood down from her position as CEO of the Union Bank at the end of 2012. [8] After she left the bank she entered the power industry as the CEO of the Benin Electricity Distribution Company for Benin City in Nigeria [9] where her husband, Victor, is the chairman.

Related Research Articles

<span class="mw-page-title-main">Oba Otudeko</span> Nigerian businessman

Oba Otudeko CFR is a Nigerian businessman who serves as the founder and chairman of the Honeywell Group. He was a former chairman of FBN Holdings and founder of the Oba Otudeko Foundation. As of June 2017, his estimated net worth was US$550 million.

Queen's College, Lagos, is a government-owned girls' secondary (high) school with boarding facilities, situated in Yaba, Lagos, Nigeria. Often referred to as the "sister college" of King's College, Lagos, it was founded on October 10, 1927, when Nigeria was still a British colony.

<span class="mw-page-title-main">Ecobank</span> Pan-African banking conglomerate

Ecobank, whose official name is Ecobank Transnational Inc. (ETI), is a pan-African banking conglomerate, with banking operations in 33 African countries. It is the leading independent regional banking group in West Africa and Central Africa, serving wholesale and retail customers. It also maintains subsidiaries in Eastern and Southern Africa. ETI has an affiliate in France, and representative offices in China, Dubai, South Africa, and the United Kingdom.

<span class="mw-page-title-main">Funke Akindele</span> Nigerian actress and producer (born 1977)

Olufunke Ayotunde Akindele popularly known as Funke Akindele or Jenifa, is a Nigerian filmmaker, actress, director, producer and politician. Akindele starred in the sitcom I Need to Know from 1998 to 2002 and in 2009, she won the Africa Movie Academy Award for Best Actress in a Leading Role. for her role in Jenifa, which brought her into fame. Akindele reprised the role in a 2015 television series adaption titled Jenifa's Diary, for which she was named the Best Actress in a Comedy at the 2016 and 2017 Africa Magic Viewers Choice Awards. Akindele won the same award in 2020 and 2022, making it her fifth win for the Best Actress in a Comedy category. Akindele is the most nominated actress/filmmaker at the AMVCA and currently owns six wins which makes her the actress with most wins. She is the second director to gross over a billion naira at the Nigeria box office and currently the Highest grossing Nigerian Director in Nigerian Box Office with a total Gross of over ₦2.9 billion.

Cecilia Ibru is the former managing director and chief executive officer of Oceanic Bank. She is Nigeria's first female bank CEO and was dubbed the first lady of banking. In 2010, she was convicted of corporate fraud and sentenced to prison as part of a multibillion-dollar banking scandal.

FinBank Plc., also referred to as Finbank Nigeria or FinBank, was a commercial bank in Nigeria.

Equitorial Trust Bank Plc. (ETB), commonly referred to as Equitorial Bank, was a commercial bank in Nigeria. It was one of the twenty-six (26) commercial banks licensed by the Central Bank of Nigeria (CBN), the country's banking regulator, in early 2011 before a merger with Sterling Bank.

Ecobank Nigeria Limited, commonly referred to as Ecobank Nigeria, is a commercial bank in Nigeria. It is one of the commercial banks licensed by the Central Bank of Nigeria, the national banking regulator.

Enterprise Bank Limited (EBL), also known as Enterprise Bank, was a commercial bank in Nigeria. It was licensed as a commercial bank by the Central Bank of Nigeria, the country's banking regulator.

Sarah Omotunde Alade is a Nigerian economist. She was acting governor of the Central Bank of Nigeria during the suspension of Sanusi Lamido Sanusi. She was appointed to the post by president Goodluck Jonathan on 20th of February 2014. She held this position until the appointment of Godwin Emefiele in June 2014. She served as deputy governor, Central Bank of Nigeria from 26th of March 2007 to 22nd of March 2017.

Ecobank Kenya is a commercial bank in Kenya. It is one of the commercial banks licensed by the Central Bank of Kenya, the central bank and national banking regulator.

Jim James Ovia is a Nigerian businessman and author. He is the founder of Zenith Bank, which he founded in 1990, and is now the country's most profitable bank.

<span class="mw-page-title-main">Bisi Komolafe</span> Nigeria actress and film producer (1986–2012)

Bisi Komolafe (1986–2012) was a Nigerian actress, film director and producer best known for her role in the movies Igboro Ti Daru and Aramotu.

Treasury Single Account (TSA) is a government financial policy to use a single bank account for all inflows of funds from all government agencies. The policy is in use in several countries around the world. Such a unified structure is recommended by the IMF, as all government funds are collected in one account which could reduce borrowing costs, extend credit and improve government's fiscal policy among other benefits to government. The IMF also recommends the establishment of a legal basis to ensure its robustness and stability.

The banking industry in Nigeria started during the colonial era with the establishment of Colonial Banks, with the primary aim of meeting the commercial needs of the Colonial Government. The banking system in Nigeria is regulated through the Central Bank of Nigeria. This apex bank started operation on July 1, 1959.

<span class="mw-page-title-main">Olufunke Baruwa</span>

Olufunke Baruwa is a Nigerian gender and development practitioner, feminist and public speaker with a focus on gender, public policy and governance. For more than two decades, she has been at the forefront of social policies and reforms in Nigeria working with government, civil society, and international development partners.

Suzanne Olufunke Iroche or Suzanne Olufunke Soboyejo-Iroche is a Nigerian banker who leads FinBank.

Peter Ololo or Peter Ukuoritsemofe Ololo was a Nigerian stockbroker who was implicated in the 2009 Financial crisis in Nigeria.

<span class="mw-page-title-main">Afrinvest</span> Nigerian capital market holding company

Afrinvest Limited is a Nigerian capital market holding company with specialized subsidiaries focusing on the unique but integrated wealth management needs of clients in West Africa. The subsidiaries are Afrinvest Asset Management, Afrinvest Capital, Afrinvest Consulting, Afrinvest Securities and Afrinvest Trustees.

SunTrust Bank Nigeria Limited (STBNL), is a Nigerian financial services provider, licensed as a commercial bank, by the Central Bank of Nigeria, the central bank and national banking regulator.

References

  1. ↑ Olufunke Iyabo Osibodu, CheckCompany, Retrieved 23 February 2016
  2. ↑ New CEOs resume immediately, who they are?, Babajide Komolafe, 14 August 2009, VanguardNGR, Retrieved 23 February 2016
  3. 1 2 3 CBN sacks 5 Banks Directors, Gabriel Omoh and Babajide Komolafe, 14 August 2009, VanguardNGR, Retrieved 23 February 2016
  4. ↑ Uninon Bank MD Hubby acquires 2 Oil vessels Archived 2017-02-02 at the Wayback Machine , SocietyNowNG, Retrieved 23 February 2016
  5. 1 2 Top women, FT.com, Retrieved 24 February 2016
  6. ↑ Yomi Makanjuola (8 May 2015). Banking Reform in Nigeria: The Aftermath of the 2009 Financial Crisis. Palgrave Macmillan. p. 42. ISBN   978-1-137-49353-8.
  7. ↑ The Other Side Of Funke Osibodu, 9 January 2016, NGRGuardianNews.com, Retrieved 24 February 2016
  8. ↑ Olufunke Iyabo Osibodu, Bloomberg, Retrieved 23 February 2016
  9. ↑ You Can Only Squeeze so Much Out of an Orange, AfricaInDC, Retrieved 23 Feb 2016
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.