In a statement released on Sunday, 17 May 2026, the company said the restructuring is designed to position the organisation for stronger performance, innovation, and sustainable expansion across its core markets.
According to the firm, the newly appointed board brings together professionals drawn from finance, insurance, legal practice, and investment banking—an intentional blend meant to strengthen governance and strategic direction.
The company explained that the appointments are aimed at steering the organisation into “its next phase of repositioning, growth and innovation”.
It further described the composition as a deliberate mix of “fresh visionary leaders and seasoned returnees”, noting that the structure is intended to combine institutional memory with modern, forward-looking expertise.
Balogun Takes Helm as Chairman
At the head of the new board is Biodun Balogun, a founding shareholder and Fellow of the Institute of Chartered Accountants of Nigeria.
Balogun, who also serves as Executive Chairman of Allied Computers Group, brings more than 30 years of experience spanning audit, finance, and information technology. His appointment is expected to reinforce both governance oversight and digital-oriented strategic planning within the organisation.
Adeniji Brings Continental Investment Expertise
Also joining the board is Asiwaju Taiwo Adeniji, a veteran of development and investment banking with over three decades of experience across major African financial institutions, including the African Development Bank and the Africa Finance Corporation.
Having recently retired as Senior Executive Director at AFC, Adeniji is widely recognised for his work in infrastructure development and industrial financing across the continent.
“His deep expertise in infrastructure financing and industrial projects across 20 African countries provides the Board with unparalleled continental insight,” the statement noted.
Strengthening Risk and Insurance Governance
The board also includes Akinola Odunsami, an insurance and risk management professional with extensive industry experience.
A Fellow of the Chartered Insurance and Banking Institutes in the United Kingdom, Odunsami has previously held leadership positions at LASACO Assurance Plc and Smoothway Insurance Brokers.
The company said his expertise in insurance and microfinance would play a critical role in enhancing risk governance and supporting strategic decision-making.
Return of Experienced Financial Strategists
In another key appointment, Lanre Bakare—Chartered Accountant and alumnus of the University of Oxford—joins the board.
Bakare, who has previously worked with FBN Quest and Pan African Capital Holdings, currently serves as Chief Executive Officer of Tradecycle SCF Limited. According to the statement, he has “played a pivotal role in the rebuilding and restructuring of Crownrise Finance Plc”.
His return is expected to support ongoing efforts to stabilise and reposition the company’s financial structure.
Legal and Institutional Continuity Strengthened
Oladipupo Rufai also returns to the board, bringing deep expertise in corporate law, fintech, and project finance.
The company highlighted his role in ensuring regulatory compliance and governance discipline, stating that “his understanding of both legal and financial services ensures that Crownrise maintains its hallmark of strict adherence to regulatory standards”.
Also rejoining the board is Otunba Babatunde Rufai-Lariba, the pioneer Managing Director of Crownrise Finance Plc.
Described by the company as “a cornerstone of the Crownrise legacy”, Rufai-Lariba brings over three decades of experience in Nigeria’s banking and finance industry, offering continuity and historical insight into the institution’s evolution.
Outlook: Positioning for a New Growth Phase
With the new board now in place, Crownrise Finance Plc expressed optimism about its future trajectory, stating confidence that the leadership team will provide the strategic direction needed for expansion and transformation.
The company said the appointments reflect a broader commitment to strengthening governance, deepening sector expertise, and accelerating innovation across its operations in Nigeria’s evolving financial landscape.