Lotus Bank has announced a leadership transition in the bank with the appointment of Dr Isiaka Ajani-Lawal as its Managing Director/Chief Executive Officer, effective December 2025.
A statement by the bank explained that Ajani-Lawal’s appointment was sequel to the retirement of the bank’s founding Managing Director/Chief Executive Officer, Kafilat Araoye, from office, thereby marking the conclusion of her distinguished tenure characterised 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, the statement said some of the key accomplishments during her tenure are the launching of the lender 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 corporate social responsibility; promoting financial literacy and expanding access to ethical finance across Nigeria amongst others feats.
The initiatives, it stated, translated into positive impact on the bank’s financial and other performance indices, including a surge in its balance sheet from N30 billion in 2021 to N360 billion in 2024, customer accounts from about 13,000 in 2021 to over 960,000 by June 2025, and expansion of its branch network to over 55 branches nationwide.
In her remarks, Chairperson of the Board of Lotus Bank, Hajara Adeola, commended the outgoing MD’s contributions to the remarkable milestones achieved in the bank during her tenure.
She said: “Araoye’s leadership was marked by integrity, foresight, and impact. She shaped Lotus Bank into a fast-growing, value-driven institution. As we welcome Ajani-Lawal as MD/CEO, we are confident of his ability to uphold the bank’s values while advancing its strategic vision.”
The statement said the newly appointed Managing Director brings over 25 years of experience in banking and financial services to his new role.
Before his 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.
Ajani-Lawal, who holds a Doctor of Business Administration (DBA) from the University of Liverpool and several other academic and professional qualifications, is a result-oriented expert, with deep expertise across diverse areas, including strategy formulation and execution, risk management, customer relationship management, credit administration, sales and marketing and business development.
