President Bola Tinubu has approved the appointment of Ayo Sotinrin as the new Managing Director of the Bank of Agriculture (BOA).
The appointment was announced on Friday, April 4, 2025, in a statement signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy.
Sotinrin, a seasoned finance and agribusiness professional, previously served as Group Chief Executive Officer at SAO Group. According to the Presidency, his tenure at SAO Agro was marked by major agricultural ventures, including the development of a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava projects in Ondo State.
He also led SAO Capital, where he facilitated over $750 million in infrastructure and development financing, notably securing $200 million for the Akure Water Supply Project.
In the public sector, Sotinrin served 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 consulted for international development organisations such as the World Bank, African Development Bank, DFID, and USAID.
His private sector experience includes roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.
Sotinrin holds an Executive MBA from Saïd Business School, University of Oxford, a Master’s degree in Engineering Business Management from the University of Warwick, and an Advanced Diploma in Environmental Conservation.
The Presidency said the appointment aligns with President Tinubu’s efforts to revitalise the agricultural sector, noting that Sotinrin’s expertise in mobilising capital and driving agribusiness innovation would support the BOA’s mandate for food security and rural development.
