Infinity Microfinance Bank has announced the appointment of Mrs. Clara Oloniniyi as its board chairman and Mr. Aweh Ebikeme as an independent director.

The announcement of their appointment followed receipt of approval from the Central Bank of Nigeria.

According to a statement from the bank, Mrs. Oloniniyi is the co-founder and pioneering Managing Director/Chief Executive Officer of Infinity Microfinance Bank since 2001, when she teamed up with her business partner to start Infinity Community Savings, which metamorphosed into Infinity Community Bank in 2005, became a unit microfinance bank in 2007 and a state microfinance bank in 2013.

Under her leadership, Infinity Microfinance Bank grew from a unit microfinance bank with a paid-up capital of N20m in 2007 to one of the leading state microfinance banks in Lagos with a share capital in excess of N1bn as of 2020.

Oloniniyi returned to the bank after she stepped down from the MD/CEO position of Infinity Microfinance Bank in 2020 but was reabsorbed onto the board in 2024.

“Clara Oloniniyi is a pragmatic leader whose contributions have continued to support the growth trajectory of Infinity Microfinance Bank to date.

In October 2024, she was appointed by the Board of Infinity Microfinance Bank as the new Chairman of the bank, with the appointment approved by the Central Bank of Nigeria in March 2025.

“She is an astute manager of human and material resources with an insightful understanding of various Micro, Small and Medium Enterprises businesses. She has demonstrated an uncommon capability to lead and manage business growth under an unstable business climate, such as characterises Nigeria’s business environment. Over the years, she supported the microfinance banking sector by making herself available to support various committees of the National Association of Microfinance Banks,” part of the statement read.

On the new independent director, Ebikeme, the lender said he “retired as a Deputy Director with the Central Bank of Nigeria, where he worked in many departments over a period of 28 years between 1990 and 2018. He was a bank examiner in the Other Financial Institutions Supervision Department. He also served in branch operations and other senior positions as an executive of the Central Bank of Nigeria.”

Whilst in the services of the CBN, he managed strategic positions and led several ad hoc committees and strategic business units, including Banking Operations Services and the Accounts Office. He was appointed Head of the Other Financial Institutions Supervision Department, Central Bank of Nigeria, Enugu, before retiring as a Deputy Director.

Ebikeme is also on the board of City-Code Mortgage Bank Limited.