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Access Bank Plc has appointed Oluseyi Kumapayi as Deputy Managing Director, African Subsidiaries, as the lender seeks to improve profitability and returns from its operations across the continent.
The appointment, which took effect on October 27, 2026, follows approval from the Central Bank of Nigeria (CBN), according to a notification by Access Holdings Plc to the Nigerian Exchange Limited (NGX) on October 31.
Kumapayi was previously Executive Director, African Subsidiaries, a position he had held since November 2020. In his new role, he will retain responsibility for the bank’s African operations, with an expanded mandate to improve profitability, capital productivity, operational performance and cross-border business integration.
He will also support the Managing Director and Chief Executive Officer in the broader leadership and strategic management of the bank.
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The appointment comes as Access Holdings shifts its focus from expanding its banking footprint to maximising returns from its existing operations, with greater emphasis on subsidiary performance, disciplined capital allocation and operational efficiency.
Focus on African subsidiaries
According to Access Holdings, Kumapayi’s elevation reinforces the strategic importance of its African subsidiaries and the need to translate their established market positions into stronger earnings and improved returns on capital.
The group said it is increasingly focused on extracting greater value from its banking franchise across Africa and selected international markets, rather than prioritising expansion alone.
Commenting on the appointment, Group Chairman of Access Holdings, Aigboje Aig-Imoukhuede, said the group was determined to improve the performance and contribution of its African subsidiaries.
He noted that the next phase of the group’s development would require clearer accountability, stronger execution and disciplined capital allocation to deliver improved financial performance and sustainable shareholder value.
Access Bank’s Managing Director and Chief Executive Officer, Roosevelt Ogbonna, also said the bank would prioritise improving returns across its African subsidiaries, strengthening execution and capturing greater value from its existing franchise.
Who is Oluseyi Kumapayi?
Kumapayi brings more than 25 years of banking experience spanning financial management, strategy, risk, treasury and business development.
He joined Access Bank in 2002 and served as Group Chief Financial Officer from 2007 to 2020, contributing to the bank’s financial management and strategic development.
He subsequently became Executive Director, African Subsidiaries, in November 2020, overseeing the bank’s operations across its African markets.
Kumapayi is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and holds an Executive MBA from IMD, Lausanne, as well as an Executive Master’s degree in Digital Transformation and Innovation Leadership from IE University, Madrid.
He also holds degrees from the Universities of Lagos and Ibadan and is an alumnus of Harvard Business School’s General Management Programme.
