Few weeks ago, the Central Bank of Nigeria gave banking licenses to Titan Trust Bank and three other new lenders.
However, there are sketchy details about the focus and strategy of Titan Trust Bank and its other new peers.
According to its public disclosures, Titan Trust Bank said:
The bank was registered as Titan Trust Bank Limited, established on the 12th of December, 2018 and obtained its National Banking license on the 26th of April 2019, to operate as a commercial bank with national authorization.
The bank’s National banking license is the first National Banking license that the Central Bank of Nigeria has granted in the last ten years.
“The Bank was formed to take advantage of the identified gaps in the banking sector and address the unmet needs of the retail mass market, SMEs and corporates,” the bank said.
Moreover, here is what we know so far.
First is that Titan Trust Bank has big names in the banking and financial services industry behind its operations and shareholder positions.
A brief review of the bank’s website shows that the bank has veteran bankers and former financial regulators as its directors.
See below the full list:
Mr. Tunde Lemo
Mr. Tunde Lemo, B.Sc, ACA, FCA was a Deputy Governor of Operations and Director at The Central Bank of Nigeria and also served as its Deputy Governor of Financial Surveillance Sector.
Mr. Lemo served as Managing Director of Wema Bank Plc. (2000-03). He also served as chairman for both the Abuja SEC and the NEXIM Bank.
He is currently a director at the Africa Finance Corporation, AFC.
Mr. Andrew Ojei
Mr. Andy Ojei is a Fellow of The Institute of Chartered Accountants of Nigeria as well as a Fellow and Council Member of The Institute of Credit Administration of Nigeria.
He was the pioneer Managing Director of Zenith Bank, Ghana. He left Zenith Bank PLC in June 2013 as an Executive Director after twenty-one years of meritorious service.
He is a seasoned businessman with interests in Real Estate and Information Technology.
Alhaji Abubakar Mohammed.
Alhaji Mohammed is a seasoned entrepreneur with over 30 years experience managing and leading businesses across the country.
He is the managing director of Syndicated Investment limited, a construction firm. He has held this post for over 33 years.
He has also been the chairman/CEO of Impex limited, a security, contracting and trading company since 1993.
Alhaji Aminu Bashari.
Alhaji Bashari Aminu (Iyan Zazzau), is the Chairman of the Board of Directors of Vital Products Limited.
He is a Fellow of the Institute of Financial Accountants (UK) and a Fellow of the Certified National Accountant of Nigeria (CNA). He is a senior title holder in the Emirate of Zazzau and was a Senior District Head of Sabon-Gari, Zaria in Kaduna State from 1979 to 2018.
He is currently on the board of several companies.
Mudassir Amray, MD/CEO.
Mudassir is a banker with over 25 years of global exposure across six geographies (US, Nigeria, Malaysia, Hong Kong, Singapore, and Pakistan).
He has held senior positions in global banks such as: Citi New York – Managing Director & Head of Global Capital Management (LATAM), Citi Nigeria – Managing Director & Head of Corporate & Investment Banking, Nigeria and Ghana, Al Rajhi Malaysia – Country Business Head, Citi HK – Head of Capital Management, Asia Pacific, Citi Singapore – Head of Islamic Banking, Asia Pacific, Citi Pakistan, Country Business Head.
Adaeze Udensi, Executive, Director.
Adaeze has over 23 years banking experience, and was until recently, an Executive Director in Heritage Bank.
In her 4 years as Executive Director, she supervised the South businesses; oversaw Retail, Private Wealth, Collections, E-Business, Customer Experience and IT functions; and served as Executive Compliance Officer.
Adaeze also acted as Managing Director of Heritage Bank in 2017. Prior to this, she spent 16 years in Zenith Bank growing its Oil & Gas, Public Sector, Commercial and Retail businesses into the 2nd largest portfolio in the Bank, leaving as a General Manager.
Adaeze has a first degree in Banking, and MBA’s from Rivers State University of Science & Technology, and the University of Bangor, Wales.
She has also attended several Executive Management Programs in Wharton Business School, Kellogg School of Management, Harvard Business School, and INSEAD.
Stella Nwihim, Head of HR.
Stella is a seasoned professional with over 21 years experience spanning Human Resources, Sales and Banking Operations.
She has held key HR positions in Zenith Bank Plc and UBA Plc including Head Workforce Planning, Head Shared Services and Head Business Partnering, where she made significant contributions in organizational development, performance & change management and business strategy.
She holds a B.Sc. and M.Sc. (Biology) and an MBA (Management) and is a member of the Chartered Institute of Personnel and Development (CIPD).
Mark Oguh, CFO.
Mark has 22 years experience in the Banking industry covering Operations, Audit and Financial Control.
He is also a Fellow of the Institute of Chartered Accountants of Nigeria and Chartered Institute of Taxation of Nigeria.
He holds a Bachelor’s Degree in Accountancy and Business Administration and an MBA in Banking and Finance. He was the Financial Controller at Diamond Bank from 2015 to March 31, 2019.
Ademola Ajayi, Head of Compliance.
Ademola AJAYI is the Chief Compliance Officer of Titan Trust Bank Limited. He holds Bachelor’s Degree in Accounting (First Class Honours) from Babcock University, Ilishan Ogun State. He also holds Higher National Diploma in accounting with Upper credits class from the Polytechnic, Ibadan. He is a fellow (FCA) of the Institute of Chartered Accountant of Nigeria (ICAN). He is also an Associate of Compliance Institute of Nigeria (CIN). He is a Security and Exchange Commission (SEC) registered Compliance Officer and a registered professional of Financial Reporting Council of Nigeria (FRCN). Internationally, he is a Certified Compliance Officer (CCO) and Certified Fraud and Crime; Investigation and Prevention by GAFM USA. He is also a fellow of GAFM USA.
He has being in the Nigerian Banking Sector since 1996, well over 2 decades, with experience cutting across financial control, credit review and monitoring, business development, banking operations, internal controls, internal audit, inspection and compliance functions. His career in banking started in NAL Merchant Bank, where he did the mandatory one year national youth service. Immediately after his service year, he was recruited by Zenith Bank, where he performed creditably well in banking operations generally, controls and risk management related functions, and later with specific focus on compliance risk management role. He played a key role in setting up compliance department in Zenith Bank and took same to an enviable height. Ademola AJAYI is a team player, and will positively impact any team he finds himself. He has attended compliance trainings, locally and internationally. He is also a competent trainer on compliance matters.
George Aiyudu, Head of IT.
George is a certified COBIT implementer with over 21 years banking experience covering Banking Operations, International Operations and Information Technology.
He holds a Bachelor’s Degree in Chemical Engineering and also holds a Masters Degree in Business Information Systems. He was the Group Head, IT Change and Transformation at Diamond Bank.