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Tag: Quest Merchant Bank

  • Quest Merchant Bank appoints Ayo Lewis as Executive Director, Risk Management & ECO

    Quest Merchant Bank appoints Ayo Lewis as Executive Director, Risk Management & ECO

    Quest Merchant Bank has announced the appointment of Mr. Andrew Olufunmilayo Lewis (Ayo Lewis) as Executive Director, Risk Management and Executive Compliance Officer (ECO), following regulatory approval by the Central Bank of Nigeria (CBN).

    The appointment reinforces the Bank’s strategic commitment to strong governance, disciplined risk management, and institutional resilience as it advances its long‑term growth and transformation agenda.

    Ayo Lewis brings over 33 years of deep, cross‑functional experience in the financial services industry, spanning enterprise risk management, regulatory compliance, and banking operations. He joins Quest Merchant Bank from Sterling Financial Holdings Company, where he served as Group Chief Risk Officer, providing strategic leadership in the design and implementation of integrated risk management frameworks and the optimisation of enterprise‑wide risk portfolios across multiple subsidiaries.

    Earlier in his career, Ayo spent more than two decades in market‑facing roles across consumer, commercial, and corporate banking. This blend of frontline banking experience and senior risk leadership equips him with a balanced, market‑informed perspective on risk, performance management, and value creation—an asset that will be critical as the Bank continues to scale responsibly.

    In his capacity as Executive Director, Risk Management & ECO, Ayo Lewis will drive operational efficiency and reinforce a risk culture aligned with sustainable growth and regulatory excellence.

    Commenting on the appointment, Afolabi Olorode, Ag. Managing Director/CEO, Quest Merchant Bank, said:

    “Ayo’s appointment reflects our deliberate and disciplined approach to building a strong, forward‑looking institution anchored on robust governance and sound risk practices. His depth of experience and proven leadership will be instrumental as we continue to execute our strategy and deliver long‑term value to our clients and stakeholders.”

    Ayo Lewis holds a degree in Actuarial Science from the University of Lagos and has completed executive education programmes at leading global institutions, including Stanford University, The Wharton School, London School of Management and Leadership, and Lagos Business School.

  • Quest Merchant Bank Named Transaction Advisor for Nigeria’s Landmark Project BRIDGE Digital Infrastructure Initiative

    Quest Merchant Bank Named Transaction Advisor for Nigeria’s Landmark Project BRIDGE Digital Infrastructure Initiative

    Quest Merchant Bank has been appointed as Transaction Advisor for Project BRIDGE (Broadband Infrastructure Development for Digital Economy), a flagship national broadband initiative led by Honourable Minister, Federal Ministry of Communications, Innovation and Digital Economy (FMCIDE), Dr. ‘Bosun Tijani.

    Project BRIDGE is a strategic digital infrastructure initiative designed to significantly expand Nigeria’s fibre-optic infrastructure and accelerate broadband penetration across the country. The project will deploy approximately 90,000 kilometres of open access fibre-optic cable, strengthen nationwide connectivity and enable inclusive digital and economic growth.

    As Transaction Advisor, Quest Merchant Bank will support FMCIDE and the Project BRIDGE Project Implementation Unit in structuring and implementing the project’s financial and commercial framework. The mandate includes developing bankable investment structures, supporting investor engagement, and designing the public–private partnership framework required to facilitate successful project execution and long-term sustainability.

    Commenting on the appointment, Afolabi Olorode, Ag. Managing Director/CEO Quest Merchant Bank, said, “Project BRIDGE represents a critical step in strengthening Nigeria’s digital backbone and unlocking the immense opportunities within the country’s digital economy. We are honoured to partner with the Federal Ministry of Communications, Innovation and Digital Economy under the leadership of Honourable Minister, Dr. ‘Bosun Tijani on this important initiative and look forward to applying our transaction advisory and infrastructure finance expertise to help deliver a robust and investable framework that will attract private capital and support long-term national development.”

    Also speaking on the appointment, Yetunde Falore, Head of Investment Banking, Quest Merchant Bank, said, “Nigeria’s digital economy is entering a defining phase, and infrastructure initiatives such as Project BRIDGE will play a central role in expanding connectivity, deepening digital inclusion, and supporting sustainable economic growth. We align with the criticality of this project and are proud to bring in our expertise to help drive a timely, efficient and successful project delivery in our role as Transaction Advisor.

    Project BRIDGE aligns strongly with His Excellency, President Bola Ahmed Tinubu’s Renewed Hope national transformation agenda, which prioritises the expansion of digital infrastructure, technology-driven productivity, and increased private-sector engagement in delivering critical national assets. By accelerating broadband penetration and strengthening the country’s digital backbone, the initiative is expected to unlock significant opportunities across key sectors—including education, healthcare, agriculture, commerce, and the wider innovation ecosystem.

    Under this appointment, Quest Merchant Bank will be supporting the Honourable Minister and the Project Implementation Team in structuring and delivering a financially robust Special Purpose Vehicle (SPV) by shortlisting qualified Private Sector participants to partner with the Nigerian Government (backed by World Bank, Africa Development Bank and European Bank for Reconstruction & Development) to deliver a world class private sector led, wholesale open Access Fibre Company. The project targets SPV set up and project break-ground by Q3 2026.

  • Quest Merchant Bank Achieves CBN Regulatory Recapitalisation Milestone, Reinforces Capacity to Drive Nigeria’s Economic Growth

    Quest Merchant Bank Achieves CBN Regulatory Recapitalisation Milestone, Reinforces Capacity to Drive Nigeria’s Economic Growth

    Quest Merchant Bank Limited has successfully met the ₦50 billion minimum capital requirement mandated for merchant banks by the Central Bank of Nigeria (CBN) strengthening the Bank’s capital base and reinforcing its capacity to support

    Nigeria’s economic transformation.

    This milestone reflects investors’ continued confidence in the Bank’s long-term strategy, strong governance, and sustainable growth outlook. It also marks an important step in the Bank’s post-divestment evolution under its new ownership, positioning Quest Merchant Bank with the balance-sheet strength needed to execute its next phase of growth.

    With a significantly enhanced capital base, Quest Merchant Bank is now better positioned to underwrite larger transactions and expand its advisory, capital markets, and structured financing capabilities across priority sectors of the Nigerian economy.

    The CBN’s recapitalisation directive, which sets ₦50 billion as the minimum capital threshold for merchant banks, is designed to reinforce the resilience, stability, and lending capacity of Nigeria’s financial system. By meeting this benchmark, Quest Merchant Bank reinforces its standing as a trusted financial partner in infrastructure, energy, manufacturing, and

    corporate growth initiatives nationwide.

    Afolabi Olorode, Acting Managing Director and Chief Executive Officer of Quest Merchant Bank, described the achievement as a defining moment in the Bank’s evolution:

    “This milestone marks a significant step forward for Quest Merchant Bank. Meeting the ₦50 billion capital requirement underscores investors’ confidence in our strategy and reflects the strength of our governance and franchise.

    With this strengthened capital position, we are equipped to play an even greater role in financing key sectors of the Nigerian economy, enabling private enterprise, and supporting sustainable economic expansion.

    Our focus remains clear. We will continue to continue to help our clients succeed, while serving as a trusted long-term partner in delivering sustainable growth.”

    Quest Merchant Bank remains committed to responsible growth, innovation, and delivering strategic financial solutions that empower businesses and institutions across Nigeria.