Funke Osibodu

Olufunke Iyabo Osibodu or Funke Osibodu is a Nigerian banker who led Ecobank Nigeria and the Union Bank of Nigeria.

Life

Funke Osibodu was born in January 1959.[1] She was educated at the University of Ife and the Harvard Business School.[2]

She was CEO and later a director of the holding company of Ecobank Nigeria until she left in 2006.[3] Her husband Victor Gbolade Osibodu is a Nigerian entrepreneur.[4]

She came to notice when there was a shake-up in the Nigerian banking industry when five bank CEOs were dismissed on 13 August 2009 and five replacements were named by the Central Bank of Nigeria.[3] She was chosen to lead the Union Bank of Nigeria replacing Bartholomew Bassey Ebong.[5] Others replaced on the same day included the CEO of FinBank who was replaced by Suzanne Iroche.[3] Ebong was sacked for giving collateral free multibillion-dollar loans to speculators that included Peter Ololo.[6]

Osibodu was praised for the transparency and discipline that she introduced at the Union Bank of Nigeria. She was placed at position 47 on a list of the world's most powerful businesswomen by the Financial Times in 2011.[5] She was the only African woman to make the list.[7] She stood down from her position as CEO of the Union Bank at the end of 2012.[8] After she left the bank she entered the power industry as the CEO of the Benin Electricity Distribution Company for Benin City in Nigeria[9] where her husband, Victor, is the managing director.

References

  1. ↑ Olufunke Iyabo Osibodu, CheckCompany, Retrieved 23 February 2016
  2. ↑ New CEOs resume immediately, who they are?, Babajide Komolafe, 14 August 2009, VanguardNGR, Retrieved 23 February 2016
  3. 1 2 3 CBN sacks 5 Banks Directors, Gabriel Omoh and Babajide Komolafe, 14 August 2009, VanguardNGR, Retrieved 23 February 2016
  4. ↑ Uninon Bank MD Hubby acquires 2 Oil vessels, SocietyNowNG, Retrieved 23 February 2016
  5. 1 2 Top women, FT.com, Retrieved 24 February 2016
  6. ↑ Yomi Makanjuola (8 May 2015). Banking Reform in Nigeria: The Aftermath of the 2009 Financial Crisis. Palgrave Macmillan. p. 42. ISBN 978-1-137-49353-8.
  7. ↑ The Other Side Of Funke Osibodu, 9 January 2016, NGRGuardianNews.com, Retrieved 24 February 2016
  8. ↑ Olufunke Iyabo Osibodu, Bloomberg, Retrieved 23 February 2016
  9. ↑ You Can Only Squeeze so Much Out of an Orange, AfricaInDC, Retrieved 23 Feb 2016
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