Olusola M. Babalola

(B. Sc., MBA, FCA, FCTI, CFA, ACCA)

*, ***** ********** ******, ******* Estate By Radio Bus Stop, Ikorodu, Lagos, e-mail: adn4bi@r.postjobfree.com

Tel: +234**********, +234**********

PROFILE:

A dynamic Chartered Accountant, Chartered Financial Analyst and Taxation expert, broadly experienced in IFRS financial reporting, financial analysis and management, with excellent inter- personal and communication skills. A specialist in several disciplines, including accounting, taxation, investment management, banking, cost reduction, business performance improvement, lean operations, business restructuring and strategic outsourcing methodologies. I am a confident team leader and decision-maker specializing in people management, with ability to handle large budgets efficiently.

WORK EXPERIENCE:

1. EKOCORP PLC

PERIOD: Nov 2018 – Date

POST HELD: Chief Financial Officer (CFO)

(Have overall responsibility for overseeing the Financial Reporting & Control, Regulatory Reporting & Compliance, Corporate Finance and Liquidity Management). KEY ACHIEVEMENTS

o Successfully raised long term funds for the purchase of ultra-modern radiotherapy machine for the treatment of cancer patients

2. Matripax Consulting Limited

PERIOD: Apr 2017 – Nov 2018

POST HELD: Managing Director/Chief Executive Officer

(Have overall responsibility for overseeing the overall strategy for business development and execution).

3. Vitafoam Nigeria PLC

PERIOD: Feb 2016 – Mar 2017

POST HELD: Head, Finance & Accounts/Group Chief Financial Officer

(Have overall responsibility for overseeing the Financial Reporting & Control, Regulatory Reporting & Compliance, Corporate Finance and Liquidity Management). KEY ACHIEVEMENTS

o Successfully refinanced a dollar-denominated term loan granted to one of the Group’s subsidiary, thus saving the Group millions of Naira in FX-related losses. o Advised on the restructuring of the operations of the business model of one of the subsidiary companies to make it a FX-generating source for the Group. RESPONSIBILITIES:

Responsible for developing financial strategies to guide the parent company and subsidiaries in achieving set financial goals and operating prudentially to achieving the targeted margins.

Direct and oversee all financial activities of the company including preparation of current financial reports as well as summaries and forecasts for future business growth and general economic outlook and coordinate the activities of the group finance departments.

Oversee all company accounting practices including preparation of budgets, financial reports and tax.

Direct financial strategy, planning and forecast; conferring with board, management, EDs and other departmental heads.

Supervises investment and raising of funds for business.

Directs the preparation of all financial reports, including statement of comprehensive income, statement of financial position, reports to shareholders, tax returns, and reports for government regulatory agencies.

Oversee finance and accounting departments, budget preparation, and verification of functions. Meet regularly with unit heads to keep informed and to offer direction.

Review reports to analyze projections of sales, operating expenses and profit against actual figures, and suggest methods of improving the planning process as appropriate.

Analyze parent and subsidiary companies operations to pinpoint opportunities and areas that need to be re-organized, down-sized or eliminated.

Review and constantly update the Group’s business model in line with environmental and competitive realities in all the markets which the Group operates in to ensure that the agreed business model is able to deliver goals and results in line with expectations established by the Group.

Ensure that the Group’s own goals are developed and aligned with the overall corporate strategic business goals and objectives and cascaded to all staff and relevant stakeholders of the Group.

4. Matripax Consulting Limited

PERIOD: Jan 2015 – Jan 2016

POST HELD: Managing Director/Chief Executive Officer ACHIEVEMENTS

Conducted financial analysis and economic viability studies including project financial and economic modelling on several Small Hydro Projects across Nigeria for UNIDO Regional Centre for Small Hydro Projects in Africa.

Advised a major client in the manufacturing sector on various cost reduction and continuous business improvement options which led to about $0.5m in cost savings.

Advised some key clients on turnaround and business restructuring opportunities, including instituting best practices in corporate governance.

Conducted financial and tax due diligence on behalf of a logistics company in respect of the proposed acquisition of a target company.

Helped build financial models for the preparation of the annual budget for a newly restructured and recapitalized mortgage bank.

Prepared the feasibility studies for the take-off of a property development company in Nigeria.

5. Liberty Assets Limited

(A special purpose vehicle created for the acquisition of portfolio companies. I led the team responsible for conducting and reporting on the financial and tax due diligence of the target companies, following which I was seconded to First Amalgamated Building Society Ltd, one of the portfolio companies)

PERIOD: September 2012 – December 2014

POST HELD: Executive Director/Chief Financial Officer (CFO) for First Amalgamated Building Society Limited

ACHIEVEMENTS:

I led the team responsible for conducting and reporting on the financial and tax due diligence which was used in the negotiation and eventual purchase of First Amalgamated Building Society Limited.

Liaised with the regulators for necessary approvals.

Instituted all the policies required to run efficiently with emphasis on regulatory requirements and corporate governance.

Supervised the production and institution of the operating manuals for the bank.

Appointed as the Chairman of the IT Steering & Implementation Committee and successfully installed an IFRS-compliant banking software for the bank operations..

Provided strategic leadership setting specific goals and motivated staff of the Finance, Investment Banking, Treasury and ERM Units of the bank towards attaining set goals.

3. Meristem Securities Limited

PERIOD: May 2008 – August 2012

POST HELD: Team Lead, Corporate Finance Group

ACHIEVEMENTS

Led a team that was responsible for raising funds through Private Placements, Public Offers (in the forms of Offer for Subscriptions, Rights Issues, etc) raising more than $600m during the period.

Advised a number of clients on optimal strategic asset allocation & portfolio management as well as corporate review of various investment opportunities.

I was responsible for the valuation of portfolio companies, presentation of investment analysis reports and determination of the appropriate exit strategies in portfolio companies.

Conducted corporate, financial and operational data review and analysis for clients in manufacturing, oil and gas, breweries and bio-technology industries.

I was also responsible for compiling client’s investment policy statement following a study and understanding of client’s needs and investment constraints while ensuring compliance and conformity with investment guidelines.

Led a team that was responsible for the monitoring of client’s portfolio performance and rebalancing where necessary.

4. Zenith Bank PLC, Lagos

PERIOD: November 2004 – April, 2008

POST HELD: Senior Manager/Head, Private & Commercial Banking Group

ACHIEVEMENTS

Managed some key corporate banking customer’s account during which period my team structured complex financing needs of the customers leading to the approval of various credit facilities (term/time loans, import finance, working capital finance).

Closely managed the individual and collective performance of the branch team, identifying development potential within the branch team and guiding individuals to maximize their potential.

Period: February, 1997 - November, 2004

During this period, I worked in various departments and units of the bank, including Funds Transfer, Head of Branch Operations, Head of Private & Commercial Banking Group and Deputy Branch Head. I was responsible for various challenging assignments including setting up branch that generated deposit liabilities in excess of $800m within two years. 5. Great Africa Trust Limited, Lagos

Period: September, 1993 – January, 1997

Post Held: Accounts & Investments Officer

Actively involved in the restructuring & repackaging of Vitamalt Plc (A Bottling Company), including the Private Placement of its shares. I was responsible for the preparation of the company’s financial statements on a monthly, quarterly and annual basis in addition to liaising with the auditors for year-end audits. ACADEMIC QUALIFICATIONS:

SCHOOLS ATTENDED CERTIFICATES DATES

University of Ilorin MBA (Banking & Finance) 2006

University of Lagos B. Sc. (Honours) Accounting 1992

(Second Class Upper Division)

The Polytechnic, Ibadan Diploma in Civil Engineering 1986

(Upper Credit Division)

PROFESSIONAL QUALIFICATIONS:

1. CFA - Chartered Financial Analyst 2008

2. ACCA - Member, Association of Chartered Certified Accountants 2015 3. FCA - Fellow, Institute of Chartered Accountants of Nigeria 2006 4. FCTI - Fellow, Chartered Institute of Taxation of Nigeria 2005 A member of the CFA Nigeria Society, New York Society of Securities Analysts

(NYSSA), and the CFA Institute, and a final level Student of Chartered Institute of Stockbrokers (CIS) with only one paper to complete the examinations. HONOURS AND DISTINCTIONS:

1. Prize Winner, ACCA December, 2007 Examinations 2008 2. Zenith Bank PLC, MD/CEO’s Award for Fraud Detection 1998 3. Best Graduating Student in Management Accounting, University of Lagos 1992

4. Overall Best Graduating Student in Civil Engineering, The Polytechnic, Ibadan 1986

COURSES ATTENDED (abridged):

[A] Financial Statement, Mergers & Acquisitions, Leveraged Buyout, Valuation Modeling Facilitator: Wall Street Prep, New York, USA

[B] Senior Management Program (SMP 22)

Facilitator: Lagos Business School

[C] Comprehensive Credit Appraisal Course

Facilitator: Lagos Business School

[D] Operational Risk Management Course

Facilitator: PricewaterhouseCoopers

[E] Project Analysis & Investment Appraisal

Facilitator: FITC

[F] Financial Modeling & Forecasting Techniques Using Excel Facilitator: Workforce Management Centre Ltd

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