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Funke Osibodu
Nigerian banker From Wikipedia, the free encyclopedia
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Olufunke Iyabo Osibodu or Funke Osibodu is a Nigerian banker who led Ecobank Nigeria and the Union Bank of Nigeria.
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Funke Osibodu was born in January 1959.[1] She attended the University of Ife and the Harvard Business School.[2]
She was CEO and later a director of the holding company of Ecobank Nigeria until she left in 2006.[3] Her husband Victor Gbolade Osibodu is a Nigerian entrepreneur.[4]
She came to notice when there was a shake-up in the Nigerian banking industry when five bank CEOs were dismissed on 13 August 2009, and five replacements were named by the Central Bank of Nigeria.[3] She was chosen to lead the Union Bank of Nigeria replacing Bartholomew Bassey Ebong.[5] Others replaced on the same day included the CEO of FinBank who was replaced by Suzanne Iroche.[3] Ebong was sacked for giving collateral free multibillion-dollar loans to speculators that included Peter Ololo.[6]
Osibodu was praised for the transparency and discipline that she introduced at the Union Bank of Nigeria. She was placed at position 47 on a list of the world's most powerful businesswomen by the Financial Times in 2011.[5] She was the only African woman to make the list.[7] She stood down from her position as CEO of the Union Bank at the end of 2012.[8] After she left the bank she entered the power industry as the CEO of the Benin Electricity Distribution Company for Benin City in Nigeria[9] where her husband, Victor, is the chairman.
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