Babatunde Majiyagbe Succeeds Adebimpe as AACN President

Oluchi Chibuzor

Chief Executive of Stanbic Nominees Limited, Mr. Babatunde Majiyagbe, has emerged new President of the Association of Asset Custodians of Nigeria (AACN), the umbrella body of custodian banks in Nigeria.

Majiyagbe succeeds Mr. Abiodun Adebimpe, head of Custody Services at Rand Merchant Bank Nigeria, after the successful completion of his four-year tenure. Majiyagbe was hitherto the Vice President of the group.

The change in leadership followed peaceful elections held recently at the association’s headquarters in Lagos.

In his acceptance speech, Majiyagbe pledged to sustain and improve on the noble legacy of his predecessors, vowing to intensify efforts at promoting portfolio investments in Nigeria, especially at this challenging phase of the country’s economic transition.

He said: “We believe that the AACN will be guided towards further greater achievements under this new leadership and qualified committee members. We will continue to advocate for market-friendly economic environment which underpins the capacity to build a prosperous economy to benefit everyone.”

On the annual Nigerian Investors Conference, Majiyagbe said its role as the association’s flagship event remains unchanged and will be further strengthened to showcase Nigeria’s economic fundamentals to the global audience.

Other officials elected during the session included Adebola Adedeji-Lawani (Ecobank Nominees), -Vice President; Folusho Ogundele (Zenith Nominees) – Financial Secretary/Treasurer; Ifedola Oluteye (First Nominees) – General Secretary; and Osamuede Fadaka (FSDH Merchant bank)- Publicity Secretary.

The new Publicity Secretary, Osamuede Fadaka, in a statement in Lagos said, “We are deeply honoured to welcome the newly elected Executive Committee members of the Association of Asset Custodians of Nigeria into this new exciting journey. We are poised to fulfill our mandate as a major player in the financial services industry.”