MFB Appoints New Board Members

FairMoney Microfinance Bank, one of Nigeria’s leading technology-driven financial institutions, has announced the appointment of seasoned banking professionals, Gbenga Shobo as Chairman of the Board, and Debo Aderoju as Executive Director and Chief Risk Officer.

The appointments are part of the bank’s ongoing efforts to strengthen its corporate governance structure and executive leadership capacity respectively, as it expands its footprint in Nigeria’s fast-growing digital financial services sector. 

The strategic appointments mark a significant milestone in FairMoney’s institutional evolution, underscoring a deepened commitment to world-class corporate governance, regulatory excellence, and sustainable growth. As the organisation transitions from a high-growth fintech to a full-service microfinance bank, the integration of these seasoned industry leaders strengthens its governance framework and operational capacity.

Shobo, a former Deputy Managing Director at First Bank of Nigeria Limited, brings over 35 years of experience in the banking industry to FairMoney. He is a celebrated “titan” of African banking. During his tenure at FirstBank, he played a pivotal role in driving remarkable growth in digital banking volumes and supervised business units that generated significant portions of the bank’s total revenue.