President Bola Tinubu has appointed Mr. Ayo Sotinrin as the new managing director of the Bank of Agriculture (BoA)effective immediately.
According to a statement yesterday by presidential spokesman, Bayo Onanuga, before this appointment, he held the position of group chief executive officer at SAO Group.
His leadership at SAO Agro, an agribusiness company, was marked by groundbreaking agricultural initiatives, including developing a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize and cassava operations in Ondo State.
He also led SAO Capital, raising over $750 million in infrastructure and development finance, including the landmark $200 million Akure Water Supply Project.
Tinubu has also approved the appointment of Nasir Naeem Abdulsalam as the managing director, Ajaokuta Steel Company.
According to a statement from the director information in the office of the Secretary to the Government of the Federation, Segun Imohiosen, the appointment takes effect from April 3, 2025 and is in accordance with the provisions of the Certain Political and Judicial Office Holders (Salaries and Allowances, etc) Act 2008 as amended.
Until his appointment, Nasir served as the Technical Adviser to the Honourable Minister of Steel Development as well as the Special Assistant (Academics) to Director General of National Institute for Legislative and Democratic Studies (NILDS) .
President Tinubu tasked the appointee to leverage on his wealth of experience in the steel industry in his new assignment in revolutionising the company to generate important upstream and downstream industrial and economic activities that will position the nation as as the industrial hub of Africa in line with the diversification drive of the Renewed Hope Agenda.
