Mr. Folabi Esan- Non-Executive Director, Independent

Mr. Folabi Esan is a seasoned investor and entrepreneur, whose career has spanned the fields of engineering and production, consulting, information technology, and finance and investing. During his career-formative years, Folabi worked with large corporations including Shell, Arthur Andersen and Bain and Company. In 1998, he joined German multinational, SAP AG as their first employee in West Africa and in his roles as Managing Director for Nigeria and Regional Manager for West Africa, he led the company to profitability and established SAP Nigeria Limited as a full-service subsidiary of SAP AG.

In 2005, Folabi founded Techno-Diffusion Company Limited, a management consulting company, and in 2008, he became a founding partner of Adlevo Capital Limited, a Mauritius-domiciled Private Equity firm, which invests in technology-driven companies across sub-Saharan Africa. Adlevo’s notable portfolio companies include Interswitch, West Africa’s largest payments company; Paga, Nigeria’s largest mobile money company, and SOLO, a company focused on increasing digital and financial inclusion by deepening the penetration of smart phones in Africa.

Folabi served on the board of the Nigerian German Business Association for almost 20 years and as a two-term (four years) president, he was instrumental in transforming the Association into a Chamber of Commerce. He is a founding Board Member of the Private Equity and Venture Capital Association of Nigeria and a past President of the Stanford Alumni Association in Nigeria.

Folabi is a Chevening Scholar and Masters’ degree holder from both Stanford University and Birbeck College, University of London.

He joined the Board of the Bank as an Independent Director following the CBN approval of his appointment on March 24, 2021