In recognition of his outstanding performance in steering the bank’s affairs since its inception as a commercial bank, the board of Parallex Bank Limited has renewed the tenure of Dr. Olufemi Bakre as the Managing Director of the bank for the next five years effective from May 1, 2025.

The board, in a statement, expressed great satisfaction at the rapid growth Parallex Bank has experienced under the leadership of Dr. Bakre, since it got licensed as a commercial bank by the CBN in 2021.

This decision by the bank’s Board of Directors underscores Bakre’s pivotal role in driving the institution’s growth and reputation as a customer-centric financial institution.

According to the board, Bakre has been instrumental in transforming Parallex Bank into a forward-thinking institution that prioritises innovation and exceptional customer experience.

His commitment to excellence, coupled with his wealth of experience and strategic vision, has set the bank on a path of sustainable growth, and the board is thrilled to have him continue leading the charge for another five years as it approaches the concluding stage of capitalisation in line with CBN directive.

Bakre, a professional banker with over three decades of banking experience, has, according to the board, showcased exceptional expertise across multilateral business, financial institutions, the public sector, corporate, commercial, SME and retail banking. He was appointed the Managing Director of Parallex Bank in May 2021.

https://guardian.ng/business-services/business/parallex-bank-md-tenure-renewed-for-5-years/