President Bola Ahmed Tinubu has approved the appointment of Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BOA).
The appointment, according to a statement by the Special on Information and Strategy to the President, Bayo Onanuga, takes immediate effect.
A seasoned executive with a distinguished career spanning the private and public sectors, Mr. Sotinrin is expected to drive transformative reforms in the bank, aligning with the administration’s agenda for food security and rural economic development.
“Mr Sotinrin’s proven ability to mobilise capital, innovate in agribusiness, and collaborate across sectors will be instrumental in repositioning the Bank of Agriculture as a catalyst for food security, sovereignty and rural prosperity”, President Tinubu emphasised.
Prior to this appointment, Mr. Sotinrin served as the Group Chief Executive Officer of SAO Group, where he spearheaded innovative agribusiness ventures, including the establishment of a 20,000-hectare oil palm plantation and large-scale commercial farming operations in poultry, aquaculture, maize, and cassava in Ondo State.
His financial acumen was further demonstrated at SAO Capital, where he secured over $750 million in infrastructure and development financing, including the landmark $200 million Akure Water Supply Project.
Between 2011 and 2015, Mr. Sotinrin served as Special Adviser (Environment & Urban Development) to the Minister of State for the Federal Capital Territory (FCT), contributing to critical urban planning and sustainability initiatives.
Beyond Nigeria, his expertise has been sought by global institutions such as the World Bank, African Development Bank (AfDB), UK’s DFID, and USAID, where he advised on major development projects. His international career includes key roles at Deutsche Bank, Royal Bank of Scotland International, and the UK Environment Agency.
An alumnus of prestigious institutions, Mr. Sotinrin holds an Executive MBA from Oxford University’s Said Business School, a Master’s in Engineering Business Management from Warwick University, and an Advanced Diploma in Environmental Conservation.
President Tinubu expressed confidence that Mr. Sotinrin’s leadership would reposition the BOA as a pivotal institution for agricultural financing.
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