LOTUS Bank, one of the leading non-interest banks in the country, has appointed Dr Isiaka Ajani-Lawal as its Managing Director/Chief Executive Officer, effective from December 2025.
Its Board Chairperson, Mrs Hajara Adeola, who announced the leadership transition on Tuesday in Abuja, said that Ajani-Lawal’s appointment was sequel to the retirement of the bank’s founding Managing Director/Chief Executive Officer, Mrs Kafilat Araoye, from office.
The development, she said, marked the conclusion of Araoye’s distinguished tenure characterised by an impressive performance scorecard.
She explained that Araoye, who was appointed as the pioneer MD/CEO of Lotus Bank, played a key role in laying the foundation for its successful market entry and operational growth.
”Under her leadership, the bank achieved key milestones that set the tone for its current leading position in Nigeria’s ethical banking space.
”Specifically, some of the key accomplishments during her tenure are the launching of LOTUS Bank as a fully licensed non-interest bank in 2021.
“She was also instrumental in the upgrading of the initial regional banking license to a national banking license in 2023.
“Others include rolling out customer-focused, technology-driven financial services, building of a trusted brand known for transparency, integrity and CSR.”
Adeola said that other achievements under Araoye’s leadership included promoting financial literacy and expanding access to ethical finance across Nigeria among other feats.
”These initiatives translated into positive impact on Lotus Bank’s financial and other performance indices, including a surge in its balance sheet from N30 billion in 2021 to N360 billion in 2024.
”Other impacts included increase in customer accounts from about 13,000 in 2021 to over 960,000 by June 2025, and expansion of its branch network to over 55 branches nationwide.”
Adeola said that Araoye’s leadership was also marked by integrity, foresight, and impact, noting that she shaped LOTUS Bank into a fast-growing, value-driven institution.
”As we welcome Dr Isiaka Ajani-Lawal as MD/CEO, we are confident of his ability to uphold the Bank’s values while advancing its strategic vision.
”The newly appointed Managing Director brings more than 25 years of banking and financial services experience to his new role.”
She said that prior to Ajani-Lawal’s present appointment, he served as Executive Director, Operations and Technology at LOTUS Bank.
According to her, during the period he was instrumental in streamlining operations, implementing innovation-driven systems, and strengthening regulatory frameworks.
“Ajani-Lawal holds a Doctor of Business Administration (DBA) from the University of Liverpool and several other academic and professional qualifications.
“He is a result-oriented expert, with deep expertise across diverse areas, including strategy formulation and execution, risk management, customer relationship management, credit administration, sales and marketing, and business development.”
Speaking on his new appointment, the managing director said he was honoured to lead LOTUS Bank at this important moment in its 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.