President Tinubu has appointed Ayo Sotinrin as Managing Director of the Bank of Agriculture. With experience across global finance and agribusiness, Sotinrin is expected to drive BOA’s transformation, enhance food security, and expand rural development through innovative funding and large-scale agricultural initiatives.
President Bola Tinubu has appointed Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BOA), as part of efforts to reposition Nigeria’s agricultural financing sector. The announcement was made public on Friday, April 4, and the appointment takes effect immediately.
According to a statement from the presidency, Sotinrin brings a wealth of experience from international finance and agribusiness, having worked with major global institutions including the World Bank, African Development Bank, and USAID. He also previously served as the CEO of SAO Group, where he led agricultural ventures in oil palm, aquaculture, and crop production across southwestern Nigeria.
Sotinrin is credited with spearheading several high-impact projects, notably a 20,000-hectare oil palm estate and a $200 million urban water supply initiative in Akure. His career includes advisory roles for federal ministries and development agencies, as well as leadership positions in international banking with firms like Deutsche Bank and the Royal Bank of Scotland.
The presidency stated that his appointment aligns with the Tinubu administration’s goal of transforming BOA into a cornerstone institution for rural development, food security, and sustainable farming. “His ability to attract capital and his track record in agribusiness innovation will be vital in refocusing the Bank’s mission,” the statement read.
Sotinrin’s educational background includes an Executive MBA from Oxford University’s Said Business School and advanced degrees in engineering management and environmental policy.
