Profiles Of Olukayode Pitan And Funso Doherty, Heads Of Bank of Industry And PENCOM

Acting President Yemi Osinbajo has approved the appointment of Olukayode Pitan as the managing director of the Bank of Industry (BOI). He takes over from Waheed Olagunju who was the MD of the bank.

Mr. Olukayode Pitan serves as the Managing Director and Chief Executive Officer at First Interstate Bank since September 2004. Formerly he was an executive director in FSB International Bank Plc and has over 18 years working experience in the banking and financial sector. He graduated from University of Ibadan in 1982 with a Second Class Upper degree in Economics as UAC Scholar. He also holds a Masters degree in International Management from the American Graduate School of Management (Thunder Bird) in Arizona as a Rotary International Scholar and has attended several financial, banking and management courses abroad and in Nigeria. These include senior Management programme of Lagos Business School and senior executive programme of the London Business School. Mr. Pitan started his working career in Nigeria with Arthur Andersen between 1983 and 1984, and banking career in 1986 with Nigeria International Bank (Citibank) before moving to Industrial Bank Limited (Merchant Bankers) now City Express Bank Limited. He left City Express Bank to become the pioneer chief executive of Credit Lease Nigeria Limited and joined FSB International Bank Plc in 1996 as assistant general manager in charge of Public Sector and Middle Tier Market. 

Osinbajo also appointed Funso Doherty as the head of National Pension Commission (PenCom), and Emeka Nwakpa as the chairman, governing board of the Consumer Protection Council (CPC).

Funso Doherty is the Managing Director/CEO/CIO of Value Alliance. He has over two decades of experience in investment management. Previously, he was the Pioneer CEO and CIO of ARM Pension Managers, which he led from inception to become one of Nigeria’s leading Pension Fund Investment Managers. He was also the first chairman of the Pension Fund Operators Association of Nigeria (PENOP) from 2007-2010. In his extensive experience as an investment management professional, Funso has held a number of increasingly senior positions in leading foreign and local investment management firms including Goldman Sachs & Company and PNC Advisors in the United States of America, and ARM in Nigeria. He started his career in the Lagos office of Arthur Andersen. Funso holds a Masters degree in Business Administration (MBA) from Harvard Business School and a B. Sc. in Accounting from the University of Lagos. He is a CFA Charterholder, a Trustee of the CFA Society Nigeria and a member of the Institute of Chartered Accountants of Nigeria.

Acting President Yemi Osinbajo has approved the following appointments for some Federal Government Parastatals, Agencies and Commissions:

Ali Usman—Chairman, National Pension Commission.

Funso Doherty—Director-General, National Pension Commission.

Manase Benga—Executive Commissioner, National Pension Commission.

Zaki Magawata—Executive Commissioner, National Pension Commission.

Ben Oviosun—Executive Commissioner, National Pension Commission.

Nyerere Ayim—Executive Commissioner, National Pension Commission.

Dikko Aliyu AbdulRahman— Chairman, Governing Board of the Bank of Industry

Olukayode Pitan— Managing Director, Bank of Industry

Emeka Nwakpa—Chairman, Governing Board of the Consumer Protection Council

All positions at the National Pension Commission are subject to the approval of the Senate.

With the exception of those that are subject to confirmation by the Senate, all other appointments take immediate effect, a statement signed by Chris Okeke, director (press) in the Office of the Secretary to the Government of the Federation, said.

Editor’s Note: This piece has been updated to reflect Funso Doherty instead of Funsho Doherty