* Succeeds pioneer chief executive Kafilat Araoye after transformative tenure
The Board of LOTUS Bank has announced a leadership transition with the appointment of Dr. Isiaka Ajani-Lawal as the bank’s new Managing Director/Chief Executive Officer, effective December 2025.
Ajani-Lawal’s appointment follows the retirement of the bank’s founding Managing Director/CEO, Mrs. Kafilat Araoye, marking the conclusion of a distinguished tenure defined by strong growth, institutional stability and market expansion.
Mrs. Araoye, who was appointed pioneer MD/CEO, played a pivotal role in laying the foundation for LOTUS Bank’s successful market entry and operational growth.
Under her leadership, the bank recorded several landmark achievements that positioned it as a leading player in Nigeria’s ethical and non-interest banking space.
Among the key milestones recorded during her tenure were the launch of LOTUS Bank as a fully licensed non-interest bank in 2021, the upgrade from a regional to a national banking licence in 2023, and the rollout of customer-centric, technology-driven financial services.
She also led efforts to build a trusted brand anchored on transparency, integrity, corporate social responsibility and financial inclusion.
These initiatives translated into strong performance across the bank’s financial and operational indicators. LOTUS Bank’s balance sheet grew from N30 billion in 2021 to N360 billion in 2024, while customer accounts expanded from about 13,000 in 2021 to over 960,000 by June 2025. The bank also grew its physical presence to more than 55 branches nationwide.
Congratulations on your appointment, Sir!
Your leadership and vision inspire change, and we look forward to achieving even greater success at LOTUS Bank under your guidance.💙💙💙#Leadership #Visionary #Innovation #TeamSuccess #FutureFocused #LOTUSBank pic.twitter.com/U082bqrtgg
— LOTUSBank (@LotusBank) January 6, 2026
Commenting on the transition, Chairperson of the Board, Mrs. Hajara Adeola, praised the outgoing MD/CEO for her contributions to the bank’s growth and sustainability.
“Mrs. Araoye’s leadership was marked by integrity, foresight and impact. She shaped LOTUS Bank into a fast-growing, value-driven institution,” Adeola said, adding, “As we welcome Dr. Isiaka Ajani-Lawal as MD/CEO, we are confident in his ability to uphold the bank’s values while advancing its strategic vision.”
The newly appointed Managing Director brings over 25 years of experience in banking and financial services to his new role. Prior to his appointment, Dr. Ajani-Lawal served as Executive Director, Operations and Technology at LOTUS Bank, where he played a key role in streamlining operations, deploying innovation-driven systems and strengthening regulatory compliance.
Dr. Ajani-Lawal holds a Doctor of Business Administration (DBA) from the University of Liverpool, alongside several academic and professional qualifications. He has deep expertise in strategy execution, risk management, customer relationship management, credit administration, sales and marketing, and business development.
Speaking on his appointment, Dr. Ajani-Lawal expressed appreciation to the Board and reaffirmed his commitment to the bank’s mission.
“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.
Daily Trust
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