Dr. OLUFEMI NOJEEMDEEN BAKARE
Treasurer
Dr. Olufemi Bakre is a highly accomplished professional with a distinguished career spanning over 35 years in the banking industry. He is a visionary leader with exceptional experience in various aspects of banking, including Institutional Banking, Credit, Operations, Public Sector, Corporate, Commercial & Retail Banking, and Customer Relationship Management.
Since May 2020, Olufemi has served as the MD/CEO of Parallex Bank Limited, a licensed regional commercial bank, where he is utilising his wealth of experience and transformational leadership to build a world-class financial services institution.Olufemi began his career in banking at MBC International Bank, where he rose to the position of General Manager. After the acquisition of MBC by First Bank in 2006, he became the Group Head of Multilateral, Financial Institutions, and Global Custody, where he initiated and delivered the First Bank China Representative Office, amongst other award-winning achievements.
In 2011, he joined First City Monument Bank as the Executive Director in charge of Institutional Banking (Public Sector, Financial Institutions & Multilateral Business), where he was responsible for business development and building a resilient institutional banking business across Nigeria. In 2013, he was appointed Executive Director, Lagos and Southwest regions, where he provided strategic business leadership and direction across a network of over 100 branches in the bank.
In 2015, he was appointed as the Executive Director of Corporate & Institutional Banking in the United Kingdom and Nigeria, a position he held until March 2020. During this time, he delivered several cross-border revenue-enhancing initiatives for the bank.
Under his leadership at Parallex Bank, Dr. Bakre has continued to garner recognition for his exceptional contributions to the banking sector. In 2023, he was named one of Nigeria’s Fifty Most Inspiring and Definitive Top CEOs by The Guardian newspaper. He also received the prestigious Banker of the Year award from both Daily Sun Awards in 2023 and Global Excellence Awards in 2024. Furthermore, his influence extends beyond Nigeria, as evidenced by his accolade as one of Africa’s Most Respected CEOs, awarded by The Business Executive in Kenya in August 2024. These awards are a testament to his commitment to excellence, innovation, and leadership in the African banking industry. Olufemi holds a Bachelor’s and master’s degree in Banking & Finance from the prestigious University of Lagos, Nigeria. He is also a member of several professional bodies, including the Chartered Institute of Bankers of Nigeria (CIBN), the Association of Enterprise Risk Management profession, the Chartered Institute of Securities & Investment (MCISI) United Kingdom, Corporate Governance & Strategic Operations Management, Institute of Government Research & Leadership Technology, Institute of Data Processing Management of Nigeria, Direct Marketing Association of Nigeria, Nigeria Institute of Management, and Bank Directors Association of Nigeria. He is also an Honorary Fellowship Member (FCIB) of the CIBN and a member of the Strategy and Advocacy Committee of the Institute.
Olufemi has participated in several executive management programs locally and offshore at leading financial institutions, focusing on leadership, strategy, management, and digital innovation. “Mayor” as he is fondly called is an advocate of technology and digital innovation as a tool for driving change in the industry, and he is passionate about providing platforms for the development of young leaders through mentorship, job opportunities, youth empowerment, and leadership grooming. In recognition of his outstanding contributions to the banking industry and his exemplary leadership, Olufemi Bakre was awarded a Doctor of Philosophy in Business Administration (Honoris Causa) by Prowess University in Delaware, USA. This achievement reflects his dedication and commitment to the industry and his unwavering pursuit of excellence.
Dr. Olufemi Bakre is a philanthropist and a community leader whose contributions to community development remain indelible. In recognition of his impact on society, he has been honoured with several chieftaincy titles, including the prestigious Oluomo of Ago-Iwoye.
Olufemi is happily married, and loves reading,playing table tennis, listening to music, travelling, and dancing during his spare time.