In Nigeria’s banking sector today, one name continues to dominate conversations, Dr. Olufemi Nojeemdeen Bakre, the visionary Managing Director and Chief Executive Officer of Parallex Bank. Widely recognized for his exceptional leadership and groundbreaking achievements, Dr. Bakre has been instrumental in repositioning Parallex Bank as one of Nigeria’s most forward-thinking financial institutions.
Taking the reins in May 2020, Dr. Bakre was appointed as the pioneer MD/CEO of Parallex Bank, and in just five years, he has delivered remarkable results. Under his leadership, the bank became profitable in less than three years of operation as a commercial bank, an extraordinary feat that exceeded industry expectations and cemented his reputation as a results-driven executive. In recognition of his outstanding performance, the board of Parallex Bank passed a vote of confidence and extended his tenure for another five years, effective May 2025.
Beyond his impressive credentials and track record in banking, what sets Dr. Bakre apart is his profound humility and passion for human impact. Despite his towering accomplishments, he remains grounded and approachable, earning admiration across all levels of society. His story is one of resilience and unwavering belief born from humble beginnings, Dr. Bakre once hawked on the streets to support his family. Yet, despite a challenging start, he held fast to his dreams, determined to create a better future. His journey from street hawker to industry leader is not only inspiring it is a testament to the power of perseverance and self-belief.
Dr. Bakre’s commitment to mentoring and empowering the next generation is equally notable. He is deeply passionate about supporting young people and creating opportunities for them to thrive. This dedication to human capital development has earned him not only professional accolades but deep respect across the industry.
A seasoned banker with over 35 years of experience, Dr. Bakre’s career spans multilateral banking, financial institutions, corporate, commercial, SME, and retail banking. He began his journey at MBC International Bank, rising to the position of General Manager before the bank’s acquisition by First Bank of Nigeria in 2006. At First Bank, he led the Multilateral, Financial Institutions, and Global Custody division, playing a pivotal role in establishing the Bank’s China Representative Office.
In 2011, he joined First City Monument Bank (FCMB) as Executive Director, Institutional Banking, where he was responsible for growing the bank’s public sector, financial institutions, and multilateral businesses across the country.
Now, at Parallex Bank, Dr. Bakre continues to drive innovation, customer-centricity, and operational excellence. Under his stewardship, the bank has achieved multiple recognitions and sustained growth, positioning it as a rising force in Nigeria’s financial landscape.
His leadership has earned him several accolades, including The Sun Banker of the Year and City People Banker of the Year affirming his place as one of Nigeria’s most distinguished banking professionals.
Dr. Olufemi Bakre is more than a CEO, he is a trailblazer, mentor, and symbol of hope for countless Nigerians who dare to dream against all odds.
