JUST IN: Tinubu Appoints Ayo Sotinrin as Managing Director of Bank of Agriculture

President Bola Tinubu has appointed Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BOA), effective immediately.

The announcement was made on Friday by Bayo Onanuga, Special Adviser to the President on Information and Strategy. Onanuga highlighted Sotinrin’s extensive experience across both private and public sectors, noting his work with international development institutions including the World Bank, African Development Bank (AfDB), Department for International Development (DFID), and the United States Agency for International Development (USAID).

Prior to this appointment, Sotinrin served as Group CEO of SAO Group, where he led SAO Agro, an agribusiness firm known for its large-scale agricultural projects. His initiatives included the development of a 20,000-hectare oil palm plantation and major poultry, aquaculture, maize, and cassava operations in Ondo State. He also led SAO Capital, which successfully raised over $750 million in infrastructure and development funding, notably securing $200 million for the Akure Water Supply Project.

Sotinrin’s public sector experience includes his tenure as Special Adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory from 2011 to 2015. He has also held roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.

Academically, he holds an executive MBA from Said Business School at Oxford University, a master’s degree in Engineering Business Management from Warwick University, and an advanced diploma in Environmental Conservation.

According to the presidency, Sotinrin’s appointment reflects the administration’s broader strategy to revamp Nigeria’s agricultural landscape. President Tinubu expressed confidence in his ability to attract investment, drive innovation, and foster cross-sector collaboration to reposition the BOA as a cornerstone of food security and rural development.