Oluseyi Kumapayi has been appointed Deputy Managing Director, African Subsidiaries at Access Bank Plc, marking another step in a banking career spanning more than two decades, largely within the Access Bank Group.
Kumapayi, who previously served as Executive Director, African Subsidiaries, brings extensive experience in financial management, banking operations, corporate strategy and the expansion of financial services across African markets.
His appointment follows a long progression through senior leadership positions at Access Bank, where he has played roles in financial control, risk management, group strategy and the bank’s international operations.
Finance and Risk Management Background
Kumapayi’s rise through Access Bank’s leadership ranks began in 2002, when he joined the institution as Head of Financial Control and Credit Risk Management.
Before joining Access Bank, he worked at Guaranty Trust Bank (GTBank) as a Financial Analyst and Senior Financial Analyst between 1998 and 2001. He subsequently moved to First City Monument Bank (FCMB), where he served as Deputy Financial Controller from 2001 to 2002.
His early career in financial analysis, accounting and control provided the foundation for his subsequent transition into senior banking management.
In 2008, he became Group Chief Financial Officer of Access Bank, a position he held until 2020. During his 12-year tenure, he was involved in strengthening the bank’s financial management and supporting strategic initiatives that expanded its capacity in domestic and international markets.
His responsibilities covered areas central to the bank’s growth, including financial strategy, risk management and capital allocation.
In November 2020, he was elevated to Executive Director, African Subsidiaries, placing him in a leadership position overseeing Access Bank’s operations across its African markets.
The appointment made him one of the senior executives responsible for managing the bank’s growing continental franchise as Access Bank expanded its presence beyond Nigeria.
New Responsibilities
As Deputy Managing Director, African Subsidiaries, Kumapayi will retain oversight of the bank’s African operations, with an expanded responsibility for improving the financial and operational performance of its subsidiaries.
His mandate includes improving profitability, capital productivity and operational efficiency, while strengthening integration across the bank’s businesses in different African markets.
He will also support Managing Director and Chief Executive Officer Roosevelt Ogbonna in the broader leadership and strategic management of Access Bank.
The promotion comes as Access Holdings places greater emphasis on extracting value from its established African banking network rather than pursuing expansion in isolation.
The group’s priorities include stronger subsidiary earnings, more disciplined capital allocation, improved operational performance and sustainable shareholder returns. Kumapayi’s experience in financial management and subsidiary oversight is particularly relevant to this strategic direction.
Education and Professional Qualifications
Kumapayi’s academic background combines engineering education with executive training in business management and digital transformation.
He obtained a bachelor’s degree in Agricultural Engineering from the University of Ibadan in 1994 before earning a master’s degree in Mechanical Engineering from the University of Lagos in 1996.
He subsequently attended Harvard Business School, where he completed the General Management Programme in 2015.
His executive education also includes an Executive Master in Digital Transformation and Innovation Leadership from IE School of Science and Technology, completed in 2021, and an Executive MBA from IMD Business School in Switzerland in December 2023.
Beyond his academic qualifications, Kumapayi is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). He is also associated with professional bodies including the Global Association of Risk Professionals, the Chartered Institute of Taxation of Nigeria and the Chartered Institute of Bankers of Nigeria.
