Zedvance names former CIBN president Deji Olanrewaju board chairman as lending push gathers pace

Zedvance Finance Limited, a subsidiary of Zedcrest Group, has appointed Professor Pius ‘Deji’ Olanrewaju as chairman of its board of directors, effective July 1, subject to approval by the Central Bank of Nigeria, as the lender strengthens its governance ahead of an ambitious expansion in commercial lending.

The appointment comes as Zedvance prepares for its next phase of growth, with the company seeking to expand its lending business while strengthening board oversight. The lender said the new board structure is designed to support long-term growth, encourage innovation, and reinforce governance as it broadens access to financing for businesses and retail customers across Nigeria.

Zedvance taps veteran banker as chairman

Zedvance described Olanrewaju as bringing decades of boardroom experience and expertise in corporate governance, strategy and institutional leadership. His appointment also adds one of Nigeria’s best-known banking professionals to the company’s board at a time when access to credit remains a major challenge for many businesses.

“I am honoured to assume the role of chairman of the board of Zedvance Finance,” Olanrewaju said. “The company has established a strong reputation as a trusted financial partner, using innovation and technology to make a meaningful difference. I look forward to working with the board and management to support the company’s long-term goals and create lasting value for our stakeholders.”

Olanrewaju brings 40-year financial expertise

His appointment follows more than four decades of experience across banking, finance, academia, and corporate governance. Olanrewaju holds degrees in law, banking, and related disciplines, including an LLB (Hons), BL, BA, M.Sc., LL.M., and Ph.D. He is also a fellow of several professional bodies, including the Chartered Institute of Bankers of Nigeria, the Institute of Capital Market Registrars, the Institute of Management and Administrative Technology, and the Enterprise Risk Management Professionals.

Olanrewaju is widely known within Nigeria’s banking industry for his long association with the Chartered Institute of Bankers of Nigeria, where he recently completed his tenure as president and chairman of council after more than 35 years of service. During that time, he also chaired the institute’s Capacity Building and Certification Committee while serving in several other leadership positions.

Away from professional practice, Olanrewaju has built a career in legal education. He is Professor of Banking Law at Babcock University and recently served as provost and dean of the university’s School of Law and Security Studies. He has co-authored several academic books and journal articles and serves on the boards of a number of institutions, including Babcock University Microfinance Bank.

Fueling growth: Zedvance’s $185 million business push

His arrival comes as Zedvance increases its focus on business lending. The company plans to disburse N250 billion ($185 million) in commercial loans by 2026, building on the expansion of its Commercial Solutions business, which has already provided N96 billion ($71 million) to businesses across Nigeria. The additional funding is expected to help companies finance working capital, expand operations, and cope with tighter credit conditions, particularly as many small and medium-sized businesses continue to face difficulties securing financing.

Founded in 2014, Zedvance Finance has grown into one of Nigeria’s leading non-bank lenders, providing business and retail financing through its parent company, Zedcrest Group. The company says it has served more than one million Nigerians with financing solutions aimed at supporting business growth, household needs, and broader economic activity.