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Oluseyi Kumapayi’s appointment took effect on October 27, 2026, after the Central Bank of Nigeria approved it.
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He moves from Executive Director, African Subsidiaries, a position he has held since November 2020.
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His expanded mandate includes improving profitability, capital productivity and operational performance across Access Bank’s African operations.
November 02, (THEWILL) – Access Bank Plc has appointed Oluseyi Kumapayi as Deputy Managing Director, African Subsidiaries, as its parent company, Access Holdings Plc, shifts greater attention towards improving returns from its existing banking operations across the continent.
The appointment took effect on October 27, 2026, following approval from the Central Bank of Nigeria (CBN), according to a notification filed by Access Holdings with the Nigerian Exchange Limited (NGX) on October 31.
Kumapayi previously served as the Executive Director, African Subsidiaries, a role he assumed in November 2020. He will retain oversight of the bank’s African operations, but with an expanded mandate covering profitability, capital productivity, operational efficiency and cross-border business integration.
The appointment comes as Access Holdings places greater emphasis on extracting value from its existing banking franchise rather than pursuing expansion as the primary growth strategy.
Focus Shifts To Returns From African Operations
Access Holdings said the appointment reinforces the strategic importance of its African subsidiaries and the need to translate their market positions into stronger earnings and improved returns on capital.
Group Chairman, Aigboje Aig-Imoukhuede, said the next phase of the group’s development would require clearer accountability, stronger execution and disciplined capital allocation to improve financial performance and deliver sustainable shareholder value.
Access Bank Managing Director and Chief Executive Officer, Roosevelt Ogbonna, also said the lender would prioritise improving returns across its African subsidiaries, strengthening execution and capturing greater value from its existing operations.
The focus reflects a broader shift towards subsidiary performance, with profitability and capital efficiency becoming key measures of the contribution of the bank’s operations across different markets.
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Who Is Oluseyi Kumapayi?
Kumapayi has more than 25 years of banking experience spanning financial management, strategy, risk management, treasury and business development.
He joined Access Bank in 2002 and served as Group Chief Financial Officer from 2007 to 2020, before becoming Executive Director, African Subsidiaries, in November of that year.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and holds an Executive MBA from IMD in Lausanne, Switzerland, as well as an Executive Master’s degree in Digital Transformation and Innovation Leadership from IE University in Madrid.
He also holds degrees from the University of Lagos and the University of Ibadan and is an alumnus of Harvard Business School’s General Management Programme.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
