Tinubu names Ayo Sotinrin as Bank of Agriculture MD

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

The announcement was made in a statement on Friday by Bayo Onanuga, Special Adviser to the President on Information and Strategy.

Sotinrin, a seasoned finance and agribusiness expert, brings extensive experience from both the private and public sectors to his new role. His appointment is expected to bolster the bank’s mandate of supporting agricultural development and financial inclusion in Nigeria.

Before his appointment, he served as the Group Chief Executive Officer at SAO Group, where he spearheaded several groundbreaking agricultural projects, including the development of a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State.
The new BOA MD also has an extensive background in development finance.

As the head of SAO Capital, he facilitated the raising of over $750 million in infrastructure and development funding, including the landmark $200 million Akure Water Supply Project. His expertise spans strategic financial planning and investment mobilization for critical sectors.

In the public sector, Sotinrin previously served as Special Adviser on Environment and Urban Development to the Minister of State for the Federal Capital Territory from 2011 to 2015. Additionally, he has worked as a consultant for international development agencies such as the World Bank, the African Development Bank, the Department for International Development, and the United States Agency for International Development. His international banking experience includes roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.