President Bola Tinubu has appointed Ayo Sotinrin as the new Managing Director of the Bank of Agriculture.
His appointment takes immediate effect.
Persecondnews reports that the appointment was announced in a statement signed by the President’s spokesperson, Mr. Bayo Onanuga, on Friday.
Sotinrin brings a wealth of experience to his new role, having worked in both the private and public sectors.
Before his appointment, he served as the Group Chief Executive Officer at SAO Group, where he led groundbreaking agricultural initiatives, including the development of a 20,000-hectare oil palm plantation in Ondo State.
Under his leadership, SAO Capital raised over $750 million in infrastructure and development finance, including the landmark $200 million Akure Water Supply Project.
Sotinrin has also consulted extensively for global development partners, such as the World Bank and USAID, and played key advisory roles on federal and state-level projects.
President Tinubu noted that Sotinrin’s appointment aligns with his administration’s strategy to revitalise Nigeria’s agricultural sector.
“Mr. Sotinrin’s proven ability to mobilize capital, innovate in agribusiness, and collaborate across sectors will be instrumental in repositioning the Bank of Agriculture as a catalyst for food security, sovereignty, and rural prosperity,” he said.
Sotinrin holds an Executive MBA from Said Business School, Oxford University, and has a strong international background, having worked with organizations such as the Royal Bank of Scotland International and Deutsche Bank.
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