Thread by @toluogunlesi

Genealogy of Nigerian banking:

There are at least 3 generations of traditional Nigerian bankers in existence. Maybe 4 in all. A few years ago I researched and wrote a piece about it. It’s come back to mind as I read Aig-Imoukhuede’s Leaving The Tarmac.

#Thread

First Gen would be names like Samuel Asabia (after whom the First Bank Plc HQ is named), Gamaliel Onosode and SB Falegan. (All born in the early 1930s). Rose to prominence as bank CEOs in the 70s.

Second Gen - two categories:

1. CEOs of the Big-4 (all FGN-majority owned at the time) in the 80s/90s - Joseph Sanusi, Paul Ogwuma, Umar Mutallab)

2. Nigerian Pioneers of Merchant Banking (Wole Adeosun, Ebitimi Banigo, John Abaelu, Subomi Balogun, Olu Falae, Oladele Olashore)

Third Gen: Began emerging when IBB liberalized the banking sector in the late 1980s/1990s, and mostly came to limelight 2000s. Jim Ovia, Fola Adeola, Pascal Dozie, Tony Elumelu, Aigboje Aig-Imoukhede, Herbert Wigwe, Jimi Lawal, etc.

[A quick note to say banking leadership in Nigeria has almost exclusively been a Boys’ club. It’s something that needs to change. As CBN Gov SLS asked banks to ensure 40% minimum of their Mgt & 30% of their boards were women). First 50 years of CBN only 4 women rose to Director]

Now for the big question on my mind—is there a 4th generation of traditional banking in Nigeria? Following on from the earlier 3 Gens outlined earlier in the thread - in which case the Fintech Crew would be Gen 5?

Or is the 4th Gen of Nigerian Banking the emerging Fintech Crew?

As always with these threads, please only contribute if you have something sensible to add or ask or disagree with. Otherwise just run along and find something else to keep busy with. Trolls will be summarily tried and {redacted}.