Parallex Bank has firmly positioned itself at the vanguard of Nigeria's ongoing digital banking transformation, a movement that is setting the pace for the entire African continent. This leadership is spearheaded by its visionary Managing Director and Chief Executive Officer, Dr. Olufemi Nojeemdeen Bakre, whose renewed five-year tenure began in May 2025.
The Architect of Digital-First Banking
Dr. Bakre, a banking industry veteran with over 35 years of experience, took the helm at Parallex Bank in May 2020. Under his strategic direction, the institution has been radically transformed into a forward-thinking, digital-first commercial bank. His leadership has yielded remarkable results, with the bank achieving profitability in less than three years of operation as a commercial bank, a feat that surpassed expert projections.
His distinguished career includes senior roles at MBC International Bank, First Bank of Nigeria, and First City Monument Bank (FCMB), where he held executive positions including Executive Director for Corporate & Institutional Banking across the UK and Nigeria. Dr. Bakre's academic credentials are equally impressive, holding Bachelor's and Master's degrees in Banking and Finance from the University of Lagos, and he is an alumnus of the London Business School.
Award-Winning Leadership and Vision
Dr. Bakre's impact has been widely recognized. In 2023, The Guardian newspaper named him one of Nigeria's "Fifty Most Inspiring and Definitive Top CEOs." He also received the Banker of the Year award from the Daily Sun Awards in 2023 and the Global Excellence Awards in 2024. His influence extends across Africa, earning him a spot among "Africa's Most Respected CEOs" by The Business Executive in Kenya in August 2024.
In a significant international honour, Dr. Bakre was awarded the Honorary Citizenship of the State of Georgia, USA, in March 2025. This recognition celebrates his contributions to financial leadership, philanthropy, and fostering cross-cultural relations.
Shaping the Future of African Finance
In an interview, Dr. Bakre outlined his vision for the future of banking, emphasizing Nigeria's role as the fintech capital of Africa. "The next decade will redefine banking in Nigeria," he stated, pointing to the country's young, connected population that demands mobile-first and seamless banking experiences. He predicts traditional branches will increasingly give way to digital hubs accessible via phones, tablets, and wearables.
Parallex Bank's "Limitless Banking" philosophy is central to this future. The bank is embedding next-generation capabilities like AI-driven recommendations, frictionless onboarding, and advanced payment solutions across its ecosystem, including its 2.1 Mobile App and Corporate Internet Banking platform. "We are not just adapting to the future—we are shaping it," Dr. Bakre affirmed.
The SEEEDD Leadership Mantra
Dr. Bakre's leadership philosophy is encapsulated in the bank's internal SEEEDD mantra, which has become the cultural backbone of Parallex Bank:
- S – Speed: Acting promptly and decisively.
- E – Execution: Turning ideas into tangible results.
- E – Executive Touch (Ownership): Empowering every staff member to lead and take accountability.
- E – Extra Mile: A culture of consistently surpassing expectations.
- D – Discipline: Upholding professionalism and best practices.
- D – Digital & Innovation: Prioritizing technology and creativity as key drivers.
This approach has fostered an environment where challenges are seen as stepping stones and constraints inspire creative solutions.
Building a Legacy Beyond Banking
Beyond financial metrics, Dr. Bakre aims to leave a personal legacy of mentorship and inspiration. He takes pride in the success of former protégés, many of whom have become top bankers, including one who now serves as a Managing Director. "Ultimately, my life is about the lives I touch and not the titles I hold," he reflected. His goal is to be remembered as a leader who gave others the courage to dream bigger and operate with integrity.
With its robust digital strategy, proven leadership, and clear vision, Parallex Bank is not only navigating the digital banking renaissance but is actively architecting its future, both for Nigeria and the wider African market.
