Career Background
Mr Olukayode Pitan served as the Managing Director and Chief Executive Officer of Bank of Industry Ltd, Nigeria’s oldest and largest development finance institution between May 2017 and October 2023. His experience cuts across various financial services sectors including banking and capital markets, during his over 30-year career.
As an astute corporate and investment banker, he was the pioneer Managing Director of ENSEC which at that time was the flagship specialized Banking unit of FSB Int’l Bank Plc focusing on the Energy Sector in Nigeria.
He graduated with a B.Sc. (Hons) Degree in Economics as a UAC scholar from the University of Ibadan in 1982 and obtained a Master's Degree in International Management as a Rotary International Scholar from the American Graduate School of International Management, Thunderbird Campus at Glendale, Arizona.
He is a Fellow of several prestigious organisations including the following: Chartered Institute of Bankers of Nigeria (FCIB), Chartered Institute of Stockbrokers (FCS), Institute of Credit Administration of Nigeria (FICA), Nigeria Economic Society (FNES) and a member of the Institute of Directors of Nigeria (MIoD). He is also an alumnus of the Lagos Business School; the London Business School; the Haggai Institute, Singapore; and the Galilee International Management Institute, Israel. He is also a merit award recipient of Institute of Chartered Accountants of Nigeria (ICAN).
Mr Pitan began his career with Citibank Nigeria in 1986. Prior to joining BOI Ltd, Mr. Pitan was the MD/CEO of Caroline Properties Ltd and Director of Excel E&P Ltd.
Previously, Mr. Pitan held the position of Executive Director of Unity Bank Plc in charge of Corporate Banking and Treasury Management after having served as the MD/CEO at First Interstate Bank Plc in August 2004, where he successfully led the Bank through a merger with eight other lending institutions to form Unity Bank Plc.
Under Pitan’s leadership, BOI consistently delivered on its mandate to transform Nigeria’s industrial sector by providing long-term financing and counter-cyclical loans diversified across industries such as agro-processing, gender businesses and renewable energy among others. The Bank of Industry also supported the establishment of several ICT and Innovation hubs to promote and harness the entrepreneurial and innovative skills of our teaming youth population across the country.
Mr. Pitan has held several Board and executive positions, providing advisory and governance support some of which include:
Personal Awards
Mr Olukayode Pitan served as the Managing Director and Chief Executive Officer of Bank of Industry Ltd, Nigeria’s oldest and largest development finance institution between May 2017 and October 2023. His experience cuts across various financial services sectors including banking and capital markets, during his over 30-year career.
As an astute corporate and investment banker, he was the pioneer Managing Director of ENSEC which at that time was the flagship specialized Banking unit of FSB Int’l Bank Plc focusing on the Energy Sector in Nigeria.
He graduated with a B.Sc. (Hons) Degree in Economics as a UAC scholar from the University of Ibadan in 1982 and obtained a Master's Degree in International Management as a Rotary International Scholar from the American Graduate School of International Management, Thunderbird Campus at Glendale, Arizona.
He is a Fellow of several prestigious organisations including the following: Chartered Institute of Bankers of Nigeria (FCIB), Chartered Institute of Stockbrokers (FCS), Institute of Credit Administration of Nigeria (FICA), Nigeria Economic Society (FNES) and a member of the Institute of Directors of Nigeria (MIoD). He is also an alumnus of the Lagos Business School; the London Business School; the Haggai Institute, Singapore; and the Galilee International Management Institute, Israel. He is also a merit award recipient of Institute of Chartered Accountants of Nigeria (ICAN).
Mr Pitan began his career with Citibank Nigeria in 1986. Prior to joining BOI Ltd, Mr. Pitan was the MD/CEO of Caroline Properties Ltd and Director of Excel E&P Ltd.
Previously, Mr. Pitan held the position of Executive Director of Unity Bank Plc in charge of Corporate Banking and Treasury Management after having served as the MD/CEO at First Interstate Bank Plc in August 2004, where he successfully led the Bank through a merger with eight other lending institutions to form Unity Bank Plc.
Under Pitan’s leadership, BOI consistently delivered on its mandate to transform Nigeria’s industrial sector by providing long-term financing and counter-cyclical loans diversified across industries such as agro-processing, gender businesses and renewable energy among others. The Bank of Industry also supported the establishment of several ICT and Innovation hubs to promote and harness the entrepreneurial and innovative skills of our teaming youth population across the country.
- To expand its capital-base to meet the needs of its customers, and contribute to economic growth of the Nigeria, Pitan led BOI’s successful foray into the international market and raised about $5bn through syndications and bond. These included debut €750mn Senior Eurobond (the first by any African national DFI) in February 2022.
- Investor confidence in BOI is reflected in BOI’s balance-sheet which increased significantly during Pitan’s tenure. This has grown in leaps and bounds from N713billion in 2017 to over N3.0 trillion as at Q3, 2023.
Mr. Pitan has held several Board and executive positions, providing advisory and governance support some of which include:
- Former Chairman, Association of Nigerian Development Finance Institutions (ANDFI).
- Former Director, representing West Africa on the Board of the Association of African Development Finance Institutions (AADFI)
- Former Chairman, BOI Investment and Trust Company Ltd
- Former Chairman, LECON Financial Services Ltd.
- Former Member, African Export-Import Bank (Afreximbank) Creative Africa Advisory Group.
- Former MD/CEO, First lnterstate Bank PLC;
- Former Executive Director, Unity Bank PLC;
- Former Executive Director, FSB lnternational Bank PLC;
- Former Chairman of the Technical Committee that led to the merger of Centerpoint Securities Ltd and FIIST Ventures Ltd to form Unity Registrars Ltd and served as Chairman of the Unity Registrars Ltd.
- Former Chairman of the Technical Committee that merged Kapital Insurance Plc, lntercontinental Assurance Company Ltd and Global Commerce and General Assurance Co Ltd into UnityKapital lnsurance Co Plc and also served as Director of the new entity.
- Former Technical Chairman that brokered the formation of FUG Pensions Ltd, consolidating the interests of Futureview Financial Services Ltd, Unity Bank Plc and Glanvill Enthoven & Co Ltd to form a viable and significant player in the Pensions management industry, subsequently holding the position of Chairman of FUG Pensions Ltd.
- Former Alternate Director of Kakawa Discount House Ltd,
- Former Director of Newdevco Investments & Securities co. Ltd and Director of Banque International Du Benin.
Personal Awards
- Special African Banking Leadership Award by Africa Leadership Magazine – 2023
- Special Congressional Commendation from Georgia and South Carolina, USA – 2023
- Sun Newspaper Banker of the year Award 2022
- Banking CEO of the Year 2022 by the European Magazine Global Banking and Finance Awards - 2022
- Nigeria Content Development Star Award 2020 by Richardson HSSE Forums, Lagos – 2020
- Distinguished Corporate Executive Award 2020 by Nigeria-Russian Business & Investment Forum, Moscow, Russia
- 2019 Global Leadership Award by the Leaders Magazine, Malaysia
- African Banker of the Year Award 2019 by African Leadership Magazine, South Africa
- Banker of the Year Award 2019 by the European Global Banking and Finance, United Kingdom
- CEOs Hall of Fame Award 2019 by African Leadership Magazine