Dr. Olufemi Nojeemdeen Bakre is a highly accomplished professional with a distinguished career, spanning over 35 years in the banking industry.

He is a visionary leader with extensive experience across various aspects of banking, including multilateral business, financial institutions (both local and international), the public sector, as well as corporate, commercial, SME, and retail banking.

Dr. Bakre’s tenure as the pioneer MD/CEO of Parallex Bank began in May 2020 and has been renewed for another five years, effective May 2025. He is instrumental in transforming Parallex Bank into a forward-thinking institution that prioritizes innovation and exceptional customer experience. His commitment to excellence, combined with his strategic vision and wealth of experience, has positioned the bank for sustainable growth.

Under his leadership, Parallex Bank became profitable in less than three years of operation as a commercial bank, surpassing expert projections. The bank has received numerous recognitions and continues to demonstrate a strong and sustainable growth trajectory.

Dr Bakre began his banking career at MBC International Bank, where he rose to the position of General Manager. Following MBC’s acquisition by First Bank of Nigeria in 2006, he became the Group Head of Multilateral, Financial Institutions, and Global Custody.

During this time, he spearheaded several initiatives, including the establishment of First Bank of Nigeria’s China Representative Office, among other award-winning achievements.

In 2011, he joined First City Monument Bank (FCMB) as the Executive Director in charge of Institutional Banking (Public Sector, Financial Institutions & Multilateral Business), where he was responsible for business development and strengthening the institutional banking sector across Nigeria.

In 2013, he was appointed Executive Director for the Lagos and Southwest regions, providing strategic leadership for a network of over 100 branches.

In 2015, he was appointed Executive Director of Corporate & Institutional Banking for both the United Kingdom and Nigeria — a position he held until March, 2020. During this time, he successfully executed several cross-border, revenue-enhancing initiatives for the bank.

Dr. Bakre’s leadership at Parallex Bank has earned him significant recognition. In 2023, he was named one of Nigeria’s “Fifty Most Inspiring and Definitive Top CEOs” by The Guardian newspaper. He also received the prestigious Banker of the Year award from both the Daily Sun Awards in 2023 and the Global Excellence Awards in 2024. His influence extends beyond Nigeria, as evidenced by his recognition as one of “Africa’s Most Respected CEOs” by The Business Executive in Kenya in August 2024.

Further cementing his international reputation, in March 2025, Dr. Olufemi Bakre was awarded the Honorary Citizenship of the State of Georgia, USA — one of the highest symbolic recognitions conferred by the U.S. state.

This prestigious honour acknowledges his outstanding contributions to financial leadership, philanthropy, and cross-cultural relations. It places him among a distinguished list of global change-makers recognized for their service, dedication, and efforts to foster international goodwill.

Dr. Bakre holds a Bachelor’s and a Master’s degree in Banking and Finance from the University of Lagos, Nigeria, and he is an alumnus of the London Business School. He has further honed his leadership skills through programs such as the Senior Management Development Program at Euromoney Training in Surrey, England, and the Leadership Program at the London Business School.

Dr. Bakre has also participated in numerous executive management programs at leading financial institutions, focusing on leadership, strategy, management, and digital innovation.

He has been conferred multiple honorary degrees, including a Professional Doctorate from the City University of Paris and a Doctor of Philosophy in Business Administration from Prowess University, Delaware, USA.

He is an Honorary Fellow (FCIB) of the Chartered Institute of Bankers of Nigeria (CIBN) and serves on the Institute’s Strategy and Advocacy Committee. He is also a member of the Association of Enterprise Risk Management Professionals, the Chartered Institute for Securities & Investment (MCISI), UK, the Institute of Corporate Governance & Strategic Operations Management, the Institute of Government Research & Leadership Technology, the Institute of Data Processing Management of Nigeria, the Direct Marketing Association of Nigeria and the Nigerian Institute of Management.

A philanthropist and community leader whose contributions to societal development remain indelible, Dr. Bakre is happily married and enjoys reading, playing table tennis, listening to music, travelling, and dancing in his spare time.

In this brief chat with The Guardian, having been recognized as one of the “100 Top Strategic CEOs of Nigeria’s Most Transformative and Iconic Companies In 2025”, Dr. Olufemi Bakre shared insights into his career journey and leadership philosophy, the future of banking in Nigeria and the role of Parallex Bank in transforming the Industry, amongst sundry issues. Excerpts …
How can you describe the future of banking in Nigeria, the African continent, by extension, and the role of Parallex Bank as a fast growing financial company?

The next decade will redefine banking in Nigeria — a country already recognised as the fintech capital of Africa. With Nigeria accounting for some of the continent’s fastest-growing digital payment ecosystems, largest fintech investments, and most innovative start-ups, the trends shaping the nation’s financial sector often set the pace for the rest of Africa.

This trajectory is powered by a young, connected population whose expectations revolve around mobile-first, seamless, intelligent, and always-on banking experiences. As these preferences deepen, traditional brick-and-mortar branches will continue to give way to digital banking hubs that live on the devices people use daily – phones, tablets, wearables, and touchscreens.

In this evolving landscape, Parallex Bank stands at the forefront of Nigeria’s digital banking renaissance and, by extension, Africa’s. As one of the country’s truly digital-first commercial banks, we are not just adapting to the future—we are shaping it. Our Limitless Banking philosophy champions a world where customers manage their finances without queues, restrictions, paperwork.

Across our ecosystem, we are embedding next-generation digital capabilities: AI-led recommendations, automated service management, frictionless onboarding, lifestyle integrations, and advanced payment solutions.

Our 2.1 Mobile App, Corporate Internet Banking platform, and expanding digital channels represent only the early steps in a long-term vision — one aligned with Nigeria’s leadership role and Africa’s broader digital transformation.

By building for the future in Nigeria — the continent’s fintech nerve centre — we are simultaneously building for the future of banking across Africa.

How would you describe your leadership philosophy, and how it has shaped the culture and innovation within Parallex Bank?
I am the definition of leading from the front.

My leadership philosophy is fundamentally anchored in leading from the front, especially in marketing. This approach comes naturally to me, given that I spent my banking career as a front-facing, business-driving relationship manager before assuming the role of MD/CEO at Parallex Bank. I believe leadership must be visible, active, and deeply engaged with both people and results.

I have an intense aversion to failure, which has, in turn, cultivated a strong discipline for planning. Effective planning allows me to strike the right balance. When I stepped into leadership at Parallex Bank, I was armed with a philosophy that today has now defined who we are — the SEEEDD mantra.

S – Speed: Acting promptly, decisively, and intelligently. We move with urgency but never at the expense of quality.
E – Execution: Turning ideas into results. Steadfastness in bringing ideas to life is a standard we uphold daily.
E – Executive Touch (Ownership): Every staff member, regardless of role, is empowered to lead. This means taking initiative, being accountable, and maintaining direct access to leadership.
E – Extra Mile: We instil a culture of surpassing expectations, both internally and with customers. Going above and beyond is not optional at Parallex; it is who we are.
D – Discipline: Professionalism, consistency, and adherence to best practice are non-negotiable.
D – Digital & Innovation: We prioritise technology, creativity, and forward thinking as key drivers of efficiency and customer satisfaction.

This philosophy has sharpened our collective mindset. It has created an environment where challenges are not deterrents but stepping stones; where constraints inspire creativity; and where our teams are constantly scanning for opportunities hidden within obstacles.

Thus, when we say “we enable possibilities”, it is not a marketing line; it is a conviction rooted in how we work, think, and lead. Businesses that partner with Parallex Bank quickly realise that our culture is built to help them achieve heights they may never have imagined.

In essence, my leadership philosophy has become the backbone of Parallex Bank’s culture, powering our innovation, strengthening our resilience, and inspiring a workforce that is unafraid to lead, to dare, and to deliver.

Beyond your business achievements, what personal legacy do you plan to leave behind?
Beyond business, I want to be remembered as a man who gave others the courage to believe in themselves. If people can look back and say, “He inspired me to dream bigger and live with integrity,” that’s legacy enough for me.

When people say, “He trained me, he groomed me,” that, to me, is the greatest reward. Over the years, many colleagues have jokingly referred to the mentorship experience under me as “Mayor’s School of Life.” And I must admit, it’s not an easy school to pass through. It’s tough, it’s demanding, and sometimes, it stretches you beyond your limits.

You will want to quit at some point, but those who stay the course usually come out stronger, sharper, and more grounded in character and competence.

I am proud to see that many of them are now thriving well, several have become top bankers, and one of them today sits as a Managing Director of a bank. That gives me immense joy because it means the values we’ve tried to live by – hard work, integrity, and excellence are being replicated and multiplied through others.

Ultimately, my life is about the lives I touch and not the titles I hold or the accolades I receive. If, when all is said and done, people can say their encounter with me made them better, more disciplined, more visionary, and more compassionate, then, I would have lived a life worth living.