Adeleke Appoints Wale Bolorunduro Chairman, Living Trust Mortgage Bank Board

Governor Ademola Adeleke has approved the appointment of Dr. Wale Bolorunduro as chairman of Living Trust Mortgage Bank Plc.

The letter of appointment, dated April 8, 2024, was signed by the Secretary to the State Government, Hon. Teslim Igbalaye.

This was contained in a statement issued on Tuesday, by the spokesperson to the governor, Olawale Rasheed, and obtained by OSUN DEFENDER.

In a separate letter addressed to the bank’s Company Secretary, the appointment was to take effect from Friday, April 19, 2024.

“I present to you the very warm compliments of the government and people of Osun State. I am pleased to inform you that the executive governor of Osun State, His Excellency, Senator Dr. Ademola Jackson Nurudeen Adeleke, has graciously approved your appointment as a director and chairman designate on the board of Living Trust Mortgage Bank Plc.

“It is believed that you will employ your wealth of experience as an experienced banker and finance consultant to steer the bank in its next growth stage.

“The current economic climate of the country and recent developments in the banking sector would pose challenges to banks, hence, the state government’s decision to be proactive in ensuring someone with your wealth of banking and finance experience leads the bank. Wishing you well in your onerous assignment”, the letter reads.

The appointee, Dr. Wale Bolorunduro, is a banking and finance consultant with over 35 years of industry experience in the Financial Service Sector.

He obtained a PhD from the University of British Columbia. He served as commissioner for finance in the state and later as the bank’s chairman, until 2016. He led the team to raise the capital that saved the mortgage bank from losing its license.

Living Trust Mortgage Bank is owned by the Osun State Government, Corporate, and Private Individuals.

The bank is quoted on the NgX, with its shares trading at N3.27 on the last trading day.