Tinubu appoints Ayo Sotinrin As Bank of Agriculture MD...

President Bola Ahmed Tinubu has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BoA). The announcement was made by the Special Adviser on Information and Strategy to the President, Bayo Onanuga, on April 4, 2025. 

Ayo Sotinrin's Professional Background

Mr. Sotinrin brings a wealth of experience from both the private and public sectors to his new role. Prior to this appointment, he served as the Group Chief Executive Officer at SAO Group, where he led significant agricultural projects, including the development of a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State. Additionally, he headed SAO Capital, successfully raising over $750 million in infrastructure and development finance, notably securing $200 million for the Akure Water Supply Project. 

In the public sector, Sotinrin was the Special Adviser on Environment & Urban Development to the Minister of State for the Federal Capital Territory from 2011 to 2015. His international experience includes roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency. He has also consulted for global development partners such as the World Bank, African Development Bank (AfDB), Department for International Development (DFID), and the United States Agency for International Development (USAID). 

Educational Qualifications

Mr. Sotinrin holds an Executive MBA from Said Business School, Oxford University; an Advanced Diploma in Environmental Conservation; and a Master’s in Engineering Business Management from Warwick University. 

Strategic Vision for the Bank of Agriculture

The appointment aligns with President Tinubu's strategy to revitalize Nigeria's agricultural sector. Mr. Sotinrin's expertise in mobilizing capital, innovating in agribusiness, and fostering cross-sector collaborations is expected to be instrumental in repositioning the Bank of Agriculture as a catalyst for food security, sovereignty, and rural prosperity. 

Recent Appointments in the Financial Sector

This appointment follows other significant changes in Nigeria's financial institutions. In October 2023, President Tinubu appointed Dr. Olasupo Olusi as the Managing Director and Chief Executive Officer of the Bank of Industry (BoI). Dr. Olusi, a former World Bank economist, was tasked with ensuring equitable access to support for enterprises across various sectors to bolster employment generation and wealth creation.

Additionally, in December 2024, Mr. Shamseldeen Babatunde Ogunjimi was appointed as the Acting Accountant General of the Federation, following the pre-retirement leave of the incumbent AGF, Dr. Oluwatoyin Sakirat Madein. Mr. Ogunjimi, a seasoned civil servant with over 30 years of experience in financial management, was expected to ensure a seamless transition in the administration of Nigeria’s treasury and consolidate the implementation of the administration’s treasury policy reforms.

These appointments reflect the administration's commitment to strengthening the leadership of key financial institutions to drive economic growth and development in Nigeria.