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Pius Ajumobi, former MD of defunct National Bank, dies at 85

Pius Ajumobi, former MD of defunct National Bank, dies at 85
November 26
17:04 2022

Pius Ajumobi, a former managing director of the defunct National Bank, is dead.

He died on Friday at Mercy Hospital, Isikan in Akure-south LGA of Ondo state. He was 85.

Oluwagbemiga Olofin-Adimula, the traditional ruler of Isinkan, confirmed Ajumobi’s death to journalists on Saturday in Akure.

In a condolence message to Ajumobi’s widow, he said the nation has lost “an iconic banker.”


Until his death, Ajumobi was the leader of the Aso Ugbosanmi people in Ilaje LGA of the state.

Ajumobi, who was also a top inspector with Central Bank of Nigeria (CBN) before his retirement, was charged by the federal government with the task of repositioning, reforming and rebranding the National Bank, prior to its market re-capitalisation and sale.

Before to his assignment at the National Bank, Ajumobi had served as the comptroller of audit for the defunct Owena Bank.


He was also an assistant director at the CBN before his appointment as the head of the department of bank examination for the Nigerian Deposit Insurance Corporation (NDIC).

Ajumobi studied banking and economics at the University of Exeter in the United Kingdom.

He is survived by Olufunmilayo, his wife, children and grandchildren.

Ajumobi, who was reputed as an apostle of fiscal prudence and a no-nonsense disciplinarian, would be missed as one of the early pioneers of zero-tolerance culture for corruption in the public sector.



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