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Olufunke Iyabo Osibodu
Born1959
NationalityNigerian
OccupationCEO
Spouse Victor Gbolade Osibodu

Olufunke Iyabo Osibodu or Funke Osibodu is a Nigerian banker who led Ecobank Nigeria and the Union Bank of Nigeria.

Life

Funke Osibodu was born in January 1959. [1] She attended the University of Ife and the Harvard Business School. [2]

She was CEO and later a director of the holding company of Ecobank Nigeria until she left in 2006. [3] Her husband Victor Gbolade Osibodu is a Nigerian entrepreneur. [4]

She came to notice when there was a shake-up in the Nigerian banking industry when five bank CEOs were dismissed on 13 August 2009, and five replacements were named by the Central Bank of Nigeria. [3] She was chosen to lead the Union Bank of Nigeria replacing Bartholomew Bassey Ebong. [5] Others replaced on the same day included the CEO of FinBank who was replaced by Suzanne Iroche. [3] Ebong was sacked for giving collateral free multibillion-dollar loans to speculators that included Peter Ololo. [6]

Osibodu was praised for the transparency and discipline that she introduced at the Union Bank of Nigeria. She was placed at position 47 on a list of the world's most powerful businesswomen by the Financial Times in 2011. [5] She was the only African woman to make the list. [7] She stood down from her position as CEO of the Union Bank at the end of 2012. [8] After she left the bank she entered the power industry as the CEO of the Benin Electricity Distribution Company for Benin City in Nigeria [9] where her husband, Victor, is the chairman.

References

  1. ^ Olufunke Iyabo Osibodu, CheckCompany, Retrieved 23 February 2016
  2. ^ New CEOs resume immediately, who they are?, Babajide Komolafe, 14 August 2009, VanguardNGR, Retrieved 23 February 2016
  3. ^ a b c CBN sacks 5 Banks Directors, Gabriel Omoh and Babajide Komolafe, 14 August 2009, VanguardNGR, Retrieved 23 February 2016
  4. ^ Uninon Bank MD Hubby acquires 2 Oil vessels Archived 2017-02-02 at the Wayback Machine, SocietyNowNG, Retrieved 23 February 2016
  5. ^ a b Top women, FT.com, Retrieved 24 February 2016
  6. ^ Yomi Makanjuola (8 May 2015). Banking Reform in Nigeria: The Aftermath of the 2009 Financial Crisis. Palgrave Macmillan. p. 42. ISBN  978-1-137-49353-8.
  7. ^ The Other Side Of Funke Osibodu, 9 January 2016, NGRGuardianNews.com, Retrieved 24 February 2016
  8. ^ Olufunke Iyabo Osibodu, Bloomberg, Retrieved 23 February 2016
  9. ^ You Can Only Squeeze so Much Out of an Orange, AfricaInDC, Retrieved 23 Feb 2016