Access Bank is assigning broader responsibility for its African subsidiaries to Oluseyi Kumapayi and bringing technology leadership onto its board as parent Access Holdings seeks stronger returns from existing operations.
An Oct. 31 filing by Access Holdings with the Nigerian Exchange said the Central Bank of Nigeria (CBN) approved both appointments. Kumapayi took up the deputy managing director post for African subsidiaries on Oct. 27; Bamisebi became executive director for information technology and digitalisation on Oct. 28.
Kumapayi moved up from executive director for African subsidiaries and keeps responsibility for those operations. Access Holdings expanded his remit to include subsidiary profitability, use of capital, operating performance and coordination across markets. He joined Access Bank in 2002 and has led the African subsidiaries since November 2020, the filing said.
Bamisebi moved from Access Holdings to the bank's board. His responsibilities at Access Bank include technology and digitalisation, with work spanning platform upgrades, cybersecurity, operational resilience and digital services. The parent company said it wants technology spending more closely connected to banking operations, customer service, revenue generation and cost management.
Access Holdings framed the appointments as part of a push for profitability, capital efficiency and higher shareholder returns. It also said better service and a lower cost of serving customers are among its aims. The filing did not offer an earnings forecast or a numerical efficiency target, so those outcomes are objectives rather than reported results.
Bamisebi's bank appointment followed his retirement from an executive director role at Access Holdings. A separate notice said the retirement took effect Sept. 30, after his term contract expired, and was intended to align the holding company with CBN guidelines on executive directors at financial holding companies. His new post is at Access Bank, a separate group entity.
Access Holdings said Kumapayi has more than 25 years of banking experience. Bamisebi has more than 20 years in technology and previously held leadership roles at Equity Group Holdings and Finserve Africa, and was group chief information officer at Diamond Bank.
