Olakunle Aderinokun: Nurturing Access Corporation’s Reputation Capital with Gravitas
By Bolaji Israel
In the highly dynamic landscape of Nigeria’s banking sector, expected to hit a projected market volume of US$56.97bn in 2024, Olakunle Aderinokun, affectionately known as “Scholar” by close associates, has seamlessly stepped into the pivotal role of Head of Media Management and Public Relations at Access Corporation, the parent company of Access Bank.
For context, Access Bank is Africa’s largest retail bank by customer base (60 million), and clearly one of Nigeria’s top five banking institutions. 3 continents, 22 markets, 700 branches, and still counting. While the group’s 2023 annual report released in March showed N2.59tn in earnings, profit pegged at a staggering N729bn. So, it’s a big shoe.
Aderinokun’s appointment earlier in the year came at a critical juncture following the monumental loss of the bank’s visionary founder, Herbert Wigwe, and the former head of media, Abdul Imoyo in quick succession, within two months. With the industry so shocked and customers quite apprehensive, under the wings of the ever-calm but dogged Aigboje Aig-Imoukhuede as Non-Executive Chairman and Bolaji Agbede as Group CEO, both strategically deployed to steady the ship, Aderinokun has in months orchestrated stability and proven to be the calming force the organisation needs to navigate the turbulent waters, having skilfully leveraged the power of media to reassure all and sundry that all is indeed well with the lender.
Scholar’s reputation precedes him; as a seasoned media professional and analyst with over 24 years stint in the media industry asides almost a decade in the financial and consulting sectors, he has cultivated an impressive track record at prominent institutions like THISDAY newspaper, Arise News Channel and UBA. In effect, his robust trajectory has traversed journalism, research, finance and consulting, equipping him with the requisite skills to elevate Access Corporation’s stature and status in the very competitive banking arena.
Since taking the reins in March, the new image maker has deftly managed the bank’s public relations strategy amid a crucial recapitalization drive. His unassuming yet bold approach appears to be paying off on a critical assignment that requires him to continuously rally and court stakeholders.
Quite aptly, he leverages his deep understanding of media dynamics and relationships to ensure that Access Corporation maintains its reputation as a Tier 1 banking giant with relentless aspirations for global reach.
In a recent statement, Agbede reiterated the bank’s pathway to success, emphasizing an unwavering commitment to excellence and resilience. “Our success is rooted in our resolute dedication to excellence, our strategic vision, market research, resilience, and ability to adapt to the evolving financial landscape,” she remarked during the signing ceremony for a significant rights issue aimed at fostering growth and stakeholder value. This re-echoes the path that Aderinokun is charting and the gospel he proclaims with gusto.
Again, his ability to engage constructively with the media has not gone unnoticed. Aderinokun has successfully cultivated strong relationships with journalists and editors across various platforms, ensuring that Access Corporation’s narrative is not only sustained but resonates positively with the public. His prior experience in the media where he honed his skills in crafting compelling stories, has proven invaluable in this regard.
Moreover, while some may find the pressure overwhelming in the wake of such significant organizational changes, Aderinokun has embraced the challenge, embodying the essence of a true strategist. His attention to detail, coupled with a meticulous approach to reputation management, has left stakeholders reassured and optimistic about the the future of Access Corporation.
Aderinokun’s academic background—a BSc in Mathematics from the University of Ilorin and an MBA from the University of Lagos—complements his extensive professional experience, allowing him to approach challenges analytically and strategically. His journey through the corporate landscape, including stints at UBA and Wall Street Trust Company, has equipped him with a unique perspective that enriches his current responsibilities.
As he continues to navigate the complexities of media relations and public perception, Scholar stands as a testament to the power of strategic communication in shaping the future of Access.
With the Corporation’s ambitious plans to expand its footprint globally, Aderinokun’s role has become increasingly crucial. As the lender seeks to solidify its position as a respected financial institution on the international stage, his efforts in managing reputation capital will undoubtedly play a vital part in its narrative.
And with his deft handling of public affairs, he is not only helping the bank to soar but is also instilling confidence in its potential to emerge as a global banking powerhouse as it navigates the delicate bends of the industry including market, operational and regulatory challenges.
