Access Bank Plc has appointed Oluseyi Kumapayi as Deputy Managing Director, African Subsidiaries. The appointment, which took effect on October 27, 2026, was approved by the Central Bank of Nigeria. Kumapayi moves from his position as Executive Director, African Subsidiaries, a role he has held since November 2020. His new mandate includes improving profitability, capital productivity, and operational performance across Access Bank's African operations.
Kumapayi's appointment comes as Access Holdings Plc, the parent company of Access Bank, shifts its focus towards improving returns from its existing banking operations across the continent. The company is placing greater emphasis on extracting value from its existing banking franchise rather than pursuing expansion as the primary growth strategy. This shift in focus is aimed at translating market positions into stronger earnings and improved returns on capital.
As Deputy Managing Director, Kumapayi will retain oversight of Access Bank's African operations, but with an expanded mandate covering profitability, capital productivity, operational efficiency, and cross-border business integration. He has over 25 years of banking experience, spanning financial management, strategy, risk management, treasury, and business development. Kumapayi joined Access Bank in 2002 and served as Group Chief Financial Officer from 2007 to 2020.
Group Chairman, Aigboje Aig-Imoukhuede, stated that the next phase of the group's development would require clearer accountability, stronger execution, and disciplined capital allocation to improve financial performance and deliver sustainable shareholder value. Access Bank Managing Director and Chief Executive Officer, Roosevelt Ogbonna, also emphasized the lender's priority on improving returns across its African subsidiaries, strengthening execution, and capturing greater value from its existing operations.
The appointment of Kumapayi reinforces the strategic importance of Access Bank's African subsidiaries and the need to improve their financial performance. Access Holdings is focusing on subsidiary performance, with profitability and capital efficiency becoming key measures of the contribution of the bank's operations across different markets. This shift in focus reflects the company's aim to deliver sustainable shareholder value.
Kumapayi is a Fellow of the Institute of Chartered Accountants of Nigeria and holds an Executive MBA from IMD in Lausanne, Switzerland, as well as an Executive Master's degree in Digital Transformation and Innovation Leadership from IE University in Madrid. He also holds degrees from the University of Lagos and the University of Ibadan and is an alumnus of Harvard Business School's General Management Programme.
The appointment of Kumapayi as Deputy Managing Director, African Subsidiaries, is a significant move by Access Bank to improve its operations across the continent. With his extensive experience and expertise, Kumapayi is expected to drive growth and profitability in Access Bank's African subsidiaries. The company's focus on improving returns from its existing operations is expected to yield positive results in the long term.
Key points
- Access Bank appoints Oluseyi Kumapayi as Deputy Managing Director for African Subsidiaries.
- Kumapayi's appointment aims to improve profitability, capital productivity, and operational performance across Access Bank's African operations.
- The appointment reflects Access Holdings' shift in focus towards improving returns from its existing banking operations across the continent.
