Parallex Bank’s MD receives CIBN’s Honorary Fellowship

Parallex Bank’s Managing Director, Mr Olufemi Bakre, was on Saturday, October 29th, 2022 conferred with the Honorary Fellowship of the Chartered Institute of Bankers of Nigeria (CIBN), the highest cadre of membership of the Institute.

According to the Registrar and Chief Executive Officer of CIBN, Dr Seye Awojobi, the Governing Council of CIBN approved Bakre’s election as an Honorary Fellow of the Institute, having been found worthy of such honour.

According to Awojobi, Bakre’s elevation alongside twenty-one others acknowledges his roles and invaluable contributions to the Institute, the banking industry, and the Nigerian economy at large as the Managing Director and Chief Executive Officer of Parallex Bank.

Awojobi said Bakre is a worthy member of the Body of Banks CEOs, a member of the Strategy and Advocacy Committee of CIBN from the year 2020 till date, an honorary senior member of the Institute and a staunch supporter of the United Kingdom’s branch of the CIBN and played a strategic role in the survival of the branch at its infant stage.

Olufemi Bakre, a consummate banking professional, commenced his banking career at MBC International Bank (formerly Merchant Banking Corporation), where he rose to the position of General Manager.

After the acquisition of MBC by First Bank in 2006, he became the Group Head, Multilateral, Financial Institutions and Global Custody.

He initiated and delivered the First Bank of China Representative Office, amongst other award-winning achievements.

Olufemi later joined First City Monument Bank in 2011 as the Executive Director in charge of Institutional Banking (Public Sector, Financial Institutions & Multilateral Business), where he was responsible for business development and building a resilient institutional banking business across Nigeria.

In 2013, he was appointed Executive Director, Lagos and Southwest regions, where he provided strategic business leadership and direction across a bank network of over one hundred branches.

Bakre was appointed as the Executive Director of Corporate & Institutional Banking in the United Kingdom and Nigeria in 2015, a position he held until March 2020, when he was named the first Managing Director of Parallex Bank.

Bakre holds bachelor’s and master’s degrees in Banking and Finance from the prestigious University of Lagos, Nigeria.

He is a fellow and member of the Chartered Institute of Securities & Investment (MCISI) United Kingdom, Corporate Governance & Strategic Operations Management, Institute of Government Research & Leadership Technology, Institute of Data Processing Management of Nigeria, Direct Marketing Association of Nigeria, Nigeria Institute of Management, Bank Directors Association of Nigeria and Fellow Institute of Management Consultants.

Bakre, who was elated with the honour, described it as inspiring and motivating and expressed gratitude to the Governing Council of CIBN for considering him worthy of the honour.

He stated that CIBN, as a formidable and globally recognized institution, is making a significant contribution to the banking industry and the world economy.

He promised to continue to do his best to contribute to the Institute, the banking industry, and the community at large as a Fellow of the Institute.