Tinubu appoints Ayo Sotinrin as MD Bank of Agriculture

Ayo Sotinrin Appointed Managing Director of Bank of Agriculture (BOA)

President Bola Tinubu has officially appointed Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BOA). Sotinrin’s appointment was announced on Friday, April 4, 2025, through a statement released by Bayo Onanuga, the Special Adviser to the President on Information and Strategy.

Sotinrin brings a wealth of experience in finance and agribusiness to the role, having previously served as the Group Chief Executive Officer at SAO Group. During his tenure at SAO Agro, an agribusiness firm, he spearheaded innovative agricultural projects, notably the establishment of a 20,000-hectare oil palm plantation, as well as extensive poultry, aquaculture, maize, and cassava operations in Ondo State.

In addition, he successfully led SAO Capital in raising over $750 million for infrastructure and development financing, including the significant $200 million Akure Water Supply Project. On the public sector front, from 2011 to 2015, he served as Special Adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory.

Sotinrin’s consulting experience includes work with major global development organizations such as the World Bank, African Development Bank (AfDB), UK Department for International Development (DFID), and USAID. He has also held notable positions at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.

He holds an Executive MBA from Said Business School at Oxford University, an Advanced Diploma in Environmental Conservation, and a Master’s degree in Engineering Business Management from Warwick University.

Onanuga commented that Sotinrin’s appointment is in alignment with the Tinubu administration’s objectives to rejuvenate Nigeria’s agricultural sector. He stated, “Mr. Sotinrin’s proven expertise in capital mobilization, agribusiness innovation, and cross-sector collaboration will be crucial in transforming the Bank of Agriculture into a key driver of food security, national self-sufficiency, and rural prosperity.”