Telecom
Wema Bank Unveils Moruf Oseni as New CEO as Adebise Retires

Wema Bank Plc has announced the retirement of its Managing Director/CEO, Ademola Adebise.
He will be proceeding on terminal leave from January 2nd, 2023 after over 13 years of meritorious service on the Board of the Bank. He will be succeeded by Moruf Oseni, currently the Deputy Managing Director.
Ademola Adebise was appointed as the Managing Director/Chief Executive Officer of Wema Bank Plc in June 2018. He joined the Bank in June 2009 as an Executive Director and rose to become the Deputy Managing Director in 2015.
Under his leadership, he expanded the bank’s footprints to other locations in Nigeria, he improved the performance of the Bank and spearheaded the first dividend payment in 13 years, since then, he has ensured consistent dividend payment over the last four years.
The Bank has grown its Total Assets by 155%, from N470 billion to over N1.2trillion. Deposits also grew by 214% from N350 billion to N1.1 trillion. He initiated the partnership with Bank of Africa to support its customers across the African continent which has increased the Bank’s market share and customer base. All these led to an additional growth of 2 million customer accounts in Nigeria and a market share of 3% of industry volumes. The Bank is now the leading collection bank for state and government agencies due to its effective and efficient platform. The Bank’s rating by agencies was upgraded to BBB investment grade.
The Bank significantly changed the digital landscape through the ALAT platform. The innovative platform also came tops in the KPMG Digital Scorecard for leading retail banks in Nigeria and this was based on in-depth insights into the state of user experience on retail banks’ digital channels.
Furthermore, the Bank launched the first SME Business School for capacity building and empowerment
for SMEs – this has benefitted over 20,000 small businesses. The Bank also became one of the founding members of the United Nations Environmental plan for financial institutions (UNEP- FI) and continues to provide digital solutions for societal impact.
The Chairman of the Board, Mr. Babatunde Kasali on behalf of the Board and Management expressed its profound gratitude to Ademola for his service and wish him the best in his future endeavours.
Further, Wema Bank Plc also announced the appointment of Mr. Moruf Oseni as the Managing
Director/CEO subject to the approval of the Central Bank of Nigeria.
Moruf Oseni joined Wema Bank in June 2012 as an Executive Director. He has over 25 years of experience with more than 16 years at Senior and Executive Management levels. Moruf Oseni was an Executive Director for 6 years and Deputy Managing Director for the last 4 years and has demonstrated capacity to lead the Bank.
He presently has responsibility for the Digital Optimization Directorate which includes – Digital, Retail, Treasury, Operations, and the Technology Divisions. Moruf is also the Executive Compliance Officer of the Bank. He supervised the launch of ALAT – Nigeria’s 1st digital Bank that has received local and global awards and multiple accolades. Before joining Wema Bank, Moruf was the CEO of MG Ineso Limited, a principal investment and financial advisory firm. Prior to MG Ineso, Moruf was a Vice President at Renaissance Capital, and an Associate at Salomon Brothers/Citigroup Global Markets in London.
Moruf holds an MBA degree from the Institut European d’Administration des Affaires (INSEAD) in France, a Master’s in Finance (MiF) from the London Business School and a B.Sc. in Computer Engineering from Obafemi Awolowo University (OAU), Ile-Ife, Nigeria. He is also an alumnus of both the Advanced Management Program (AMP) of the Harvard Business School and King’s College, Lagos.
Other Board appointments include:
Wole Akinleye: Appointed as the Deputy Managing Director. Wole has over 32 years Banking experience. He presently oversees Corporate Banking and South West Business Directorate for the Bank.
A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Wole is an alumnus of the Advanced Management Program of the Harvard Business School. He obtained his first degree in Accounting from Obafemi Awolowo University in 1989 and subsequently, a master’s degree in Business Administration (Finance) from the same University.
Tunde Mabawonku: Appointed as Executive Director. He has over 23 years of experience and is presently the Chief Finance Officer and the Divisional Head of Finance & Corporate Services. Tunde has a Master’s in finance from the London Business School and a first degree in Economics from University of Ibadan.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) & Chartered Institute of Taxation of Nigeria (CITN) and is an Honorary member
of the Chartered Institute of Bankers (HCIB). He has also attended several Senior Leadership programs.
In conclusion, the Board of Directors are confident that the appointment of the Executives will lead to the continued transformation and growth of the Bank, particularly as the Bank
positions itself as a market leader in Nigeria’s retail banking segment through technology and innovation.
The appointments take effect from April 1, 2023 and are subject to the approval of the Central Bank of Nigeria and other regulatory authorities.
Telecom
MTN Group to Invest $10Bn in African Expansion by 2030

MTN Group announced plans to expand its footprint on the continent with a $10 billion investment by 2030.
The International Telecommunication Union (ITU), which relayed the information, said the company will inject $2 billion annually as part of the initiative.
According to the ITU, MTN Group plans to use these funds to expand and enhance its voice and data networks, aiming to provide better coverage and connectivity for its customers.
The company sees these investments as key to driving digital inclusion and supporting economic growth in its key markets.
Sub-Saharan Africa, which accounts for 13 of MTN’s target markets, had 527 million unique mobile subscribers in 2023, with a penetration rate of 44%, according to the Global System for Mobile Communications (GSMA).
The region also had 320 million mobile internet subscribers, representing 27% of the population.
This digital divide presents opportunities for telecom operators.
The GSMA projects that the number of unique mobile subscribers in sub-Saharan Africa will reach 751 million by 2030, growing at an annual compound rate of 4.5% from 2023 to 2030.
Mobile internet subscribers are expected to increase to 518 million, with the mobile internet penetration rate reaching 37%, up from 27%.
However, the GSMA estimates that telecom operators will need to invest $62 billion in their networks over the period.
By gaining new subscribers, MTN hopes to solidify its position as “Africa’s largest mobile network operator.”
The company currently has around 230 million subscribers, competing with Vodacom (205 million), Airtel Africa (163.1 million), and Orange (160 million).
Despite focusing on infrastructure, MTN must also address challenges hindering the adoption of mobile phone and internet services.
According to the GSMA, one key obstacle is the high cost of smartphones, which makes them difficult to access for many people.
The GSMA encourages telecom operators to implement initiatives such as device financing plans, installment payment options, and affordable smartphones through partnerships with manufacturers.
Telecom
ATCON Calls for Telecom Policy Improvements in Nigeria

Association of Telecommunication Companies of Nigeria (ATCON) has called on the Nigerian Government to address policy gaps in the telecom sector to achieve digital inclusion and transformation.
Tony Emoekpere, president, ATCON, highlighted this during an interview on Tuesday with News Agency of Nigeria (NAN)
“The strategic plan for the Ministry of Communications, Innovation & Digital Economy outlines a clear roadmap for the sector, emphasising digital transformation, economic diversification, and broadband expansion.
“One of the flagship policies driving the industry is the National Broadband Plan 2020-2025, which aims for 70 per cent broadband penetration by the end of 2025.
“While progress has been made, the latest data from the Nigerian Communications Commission (NCC) puts broadband penetration at 44.43 per cent as of December 2024.
“This is a reality check as we still have some distance to cover with less than a year to meet the target,” Emoekpere said
He commended the NCC for its transparency in publishing verifiable data, which he said is crucial for identifying and addressing gaps.
Emoekpere also praised reforms like Right of Way (RoW) policies and broadband infrastructure investment incentives, as well as the Critical National Information Infrastructure (CNII) protections aimed at reducing fibre cuts and vandalism.
However, he stressed the need for full implementation of these measures.
The ATCON president identified multiple taxation, high infrastructure costs, and vandalism as major barriers to progress.
He also emphasised the importance of broadband penetration as the backbone of digital inclusion, noting that without widespread, affordable internet access, even the best digital skills programs would have limited impact.
Emoekpere lauded the government’s plan to train 3 million digital professionals by 2027, calling it a forward-thinking initiative to equip Nigerians for the digital economy.
“For meaningful progress, we need aggressive infrastructure rollout, harmonised taxation, and stronger protection for telecom assets,” he said.
Telecom
9mobile Reinforces Innovation Leadership with Echoes, Its Trailblazing AI Storytelling Platform

9mobile, telecommunications provider in Nigeria, continues to push the boundaries of innovation with the introduction of Echoes, its AI-driven storytelling platform that seamlessly blends artificial intelligence with compelling narratives.
This groundbreaking initiative is designed to forge deeper connections with audiences, enhance brand affinity, boost engagement, and ignite conversations about Nigeria’s rich heritage and culture.
Echoes by 9mobile was born out of the brand’s commitment to celebrating Nigeria’s diverse history, myths, and true events. Through this initiative, the company seeks to educate, engage, and spark meaningful discussions, aligning perfectly with 9mobile’s youthful and dynamic identity.
Storytelling has long been a powerful medium of expression in Nigeria, and 9mobile leveraged this to resonate with its audience in an authentic and impactful way.
According to Director of Marketing at 9mobile Kenechukwu Okonkwo, “As a proudly Nigerian brand, we were deliberate about sharing rich Nigerian stories; capturing facts, myths, and true events that form the fabric of our identity.
“Many of these stories have been forgotten or lost as our cultures evolve. With Echoes, we step away from the Eurocentric narratives that dominate mainstream media and instead celebrate Nigerian stories, told by Nigerians, for Nigerians.”
He further explained that 9mobile carefully curated stories that matter to its audience, stories of resilience, ambition, culture, and everyday life deeply rooted in Nigeria’s history. The initial edition featured iconic locations such as Kajuru Castle, Idanre Hills, and Ogbunike Cave, with later episodes covering historical figures and events like King Eyo Honesty II and Igbo Landing.
Each story underwent meticulous research, AI-assisted scripting, and precise editing to ensure both engagement and alignment with 9mobile’s core values. These stories were then distributed in various formats, including creative Shorts, Reels, TikTok clips, and social media posts across X (Twitter), Facebook, YouTube, and Instagram.
While AI played a crucial role in bringing this project to life, 9mobile ensured its ethical and responsible use.
“We prioritized accuracy and cultural sensitivity, ensuring that each narrative remained a true representation of historical accounts. Additionally, there was no data gatekeeping; audiences could access these stories without restrictions,” Okonkwo emphasized.
The Echoes campaign quickly gained traction, sparking discussions, encouraging user engagement, and strengthening the emotional bond between 9mobile and Nigerian youth.
The initiative amassed over a million views across various channels, reached more than 6.3 million people, and recorded over 7.8 million impressions. As a testament to its innovation, 9mobile was honoured with the “Best Use of AI” award at the prestigious ADVAN Awards.
Commenting on this achievement, 9mobiles Chief Executive Officer, Obafemi Banigbe, stated: “We are thrilled to receive this recognition, which reaffirms our commitment to innovation and customer-centricity. Echoes is a game-changer in the telecom industry, and we take pride in leading AI-driven innovation in Nigeria.”
The launch of Echoes marks a significant milestone for 9mobile, reinforcing its leadership in leveraging technology to drive business growth and enhance customer satisfaction.
This initiative cements 9mobile’s position as a pioneer in AI adoption within the telecommunications sector, further strengthening its commitment to delivering world-class services.
9mobile’s legacy of AI-driven solutions extends beyond Echoes. In 2020, the company introduced Enin’, Nigeria’s first AI-enabled chatbot developed by a telecom provider. This intelligent virtual assistant revolutionized customer service, allowing users to purchase airtime, subscribe to data plans, access exclusive offers, receive notifications, manage subscriptions, and even connect with live agents seamlessly.
As 9mobile continues to push the boundaries of AI-driven innovation, its dedication to enhancing user experiences and redefining engagement remains stronger than ever.
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