Nigeria: Lotus Bank Board Names Ajani-Lawal Md/CEO, Araoye Retires

7 January 2026
This Day (Lagos)

The Board of LOTUS Bank has announced a leadership transition in the bank with the appointment of Dr. Isiaka Ajani-Lawal as its Managing Director/CEO, effective from December 2025.

Ajani-Lawal's appointment was sequel to the retirement of the bank's founding Managing Director/Chief Executive Officer, Mrs. Kafilat Araoye, from office, thereby marking the conclusion of her distinguished tenure characterized by an impressive performance scorecard.

Appointed as the pioneer MD/CEO of Lotus Bank, Araoye played a key role in laying the foundation for LOTUS Bank's successful market entry and operational growth. Under her leadership, the bank achieved key milestones that set the tone for its current leading position in Nigeria's ethical banking space.

Specifically, some of the key accomplishments during her tenure are the launching of LOTUS Bank as a fully licensed non-interest bank in 2021; upgrading of the initial regional banking license to a national banking license in 2023; rolling out customer-focused, technology-driven financial services; building of a trusted brand known for transparency, integrity and CSR; promoting financial literacy and expanding access to ethical finance across Nigeria amongst others feats.

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In her remarks, Chairperson of the Board of LOTUS Bank, Mrs. Hajara Adeola, commended the outgoing MD's contributions to the remarkable milestones achieved in the bank during her tenure.

She enthused: "Mrs. Araoye's leadership was marked by integrity, foresight, and impact. She shaped LOTUS Bank into a fast-growing, value-driven institution. As we welcome Dr. Isiaka Ajani-Lawal as MD/CEO, we are confident of his ability to uphold the Bank's values while advancing its strategic vision."

The newly appointed Managing Director brings more than 25 years of banking and financial services experience to his new role. Prior to this appointment, he served as Executive Director, Operations and Technology at LOTUS Bank, where he was instrumental in streamlining operations, implementing innovation-driven systems, and strengthening regulatory frameworks.

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