LOTUS Bank names Ajani-Lawal MD/CEO as Araoye retires 

The Board of LOTUS Bank has appointed Dr Isiaka Ajani-Lawal as its new Managing Director and Chief Executive Officer, effective December 2025, marking a leadership transition at one of Nigeria’s leading non-interest banks.

The appointment was disclosed in a statement made available to The PUNCH on Monday and follows the retirement of the bank’s founding Managing Director/Chief Executive Officer, Mrs Kafilat Araoye, whose tenure oversaw the institution’s rapid growth and national expansion.

Araoye, appointed as the pioneer MD/CEO, was instrumental in laying the foundation for LOTUS Bank’s successful market entry and operational expansion. Under her leadership, the bank commenced operations as a fully licensed non-interest bank in 2021, upgraded its regional banking licence to a national licence in 2023, and rolled out customer-focused, technology-driven financial services.

During her tenure, LOTUS Bank also built a strong reputation for transparency, integrity and corporate social responsibility, promoted financial literacy, and expanded access to ethical finance across the country.

These initiatives translated into significant performance gains, with the bank’s balance sheet growing from N30bn in 2021 to N360bn in 2024, customer accounts rising from about 13,000 to over 960,000 by June 2025, and its branch network expanding to more than 55 outlets nationwide.

Commending the outgoing MD/CEO, the Chairperson of the Board, Mrs Hajara Adeola, described Araoye’s leadership as transformative.

“Mrs Araoye’s leadership was marked by integrity, foresight and impact. She shaped LOTUS Bank into a fast-growing, value-driven institution. As we welcome Dr Ajani-Lawal as MD/CEO, we are confident of his ability to uphold the bank’s values while advancing its strategic vision,” she said.

Ajani-Lawal brings over 25 years of experience in banking and financial services to his new role. Until his appointment, he served as Executive Director, Operations and Technology at LOTUS Bank, where he played a key role in streamlining operations, driving innovation and strengthening regulatory frameworks.

He holds a Doctor of Business Administration from the University of Liverpool and has extensive expertise in strategy execution, risk management, customer relationship management, credit administration, sales and marketing, and business development.

Reacting to his appointment, Ajani-Lawal said he was honoured to lead the bank at a critical stage of its growth.

“I am honoured to lead LOTUS Bank at this important moment in our journey. I remain committed to delivering on our mission to redefine banking through ethical, inclusive and digitally focused services. I look forward to working with our dedicated team to build on the solid foundation laid by Mrs Araoye and take LOTUS Bank to greater heights,” he said.