By Seun Ibiyemi
FairMoney Microfinance Bank on Monday appointed Gbenga Shobo as Chairman of its Board, in a move aimed at reinforcing corporate governance and executive capacity.
The bank also announced the appointment of Debo Aderoju as Executive Director and Chief Risk Officer, further strengthening its leadership team as it expands operations in Nigeria’s growing digital financial services sector.
Commenting on the appointments, Managing Director Henry Obiekea said the bank had reached a critical stage where strong governance is essential.
“Welcoming Shobo and Aderoju reinforces our commitment to transforming FairMoney into a market-leading financial institution,” he said.
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Shobo, who brings more than 35 years of banking experience, previously served as Deputy Managing Director at First Bank of Nigeria Ltd.. During his tenure, he played a key role in driving digital banking growth and supervised high-revenue business units.
He holds degrees from Obafemi Awolowo University and has attended executive programs at Harvard Business School, Stanford University, and INSEAD.
Aderoju, with over two decades of experience in credit management, enterprise risk, and inclusive finance, previously served as Managing Director and CEO of Letshego Microfinance Bank Nigeria.
He has also held senior roles at United Bank for Africa and First Bank, overseeing risk management across multiple Sub-Saharan markets. His appointment is subject to regulatory approval.
Obiekea said Shobo’s expertise in managing complex banking operations and technology-driven retail services would support FairMoney’s expansion strategy, while Aderoju’s risk and governance experience would enhance operational efficiency and regulatory compliance.
FairMoney Microfinance Bank is a technology-driven institution focused on promoting financial inclusion through digital banking services, providing loans, savings accounts, and payment solutions to individuals and businesses across Nigeria.
