Celebrating Excellence: Olufemi Bakre Named Banker of the Year by The Sun Newspapers


In acknowledgment of his leadership at Parallex Bank, The Sun Newspapers, organizers of The Sun Award, have conferred the title of Banker of the Year 2023 upon Olufemi Bakre, the Managing Director of Parallex Bank.

In his opening remarks at the elaborate event at the Eko Hotel and Suites in Lagos on Saturday, Onuoha Ukeh, the Managing Director of Sun Newspaper, said the Sun Awards annually aim to recognize and celebrate Nigerians who have demonstrated remarkable success in their respective fields, despite the  economic conditions in Nigeria.

According to Ukeh, the year 2023 was particularly noteworthy for Nigeria, marked by political events and the removal of petroleum subsidies. Despite the challenges faced by individuals and businesses, some Nigerians exhibited resilience, utilizing their skills to succeed in their endeavors. He added that the individual awardees have made a significant impact on their chosen careers and interests.

The Chairman of the occasion and Secretary to the Government of the Federation, George Akume, said nation-building is a collective effort, and the choice of Sun Newspapers to celebrate and reward individuals making great strides in nation-building is commendable. Akume congratulated all awardees and urged them not to relent in giving their very best to the nation.

Among the notable Nigerians recognized for their milestone achievements in 2023 is Olufemi Bakre, who, according to The Sun, has utilized exceptional skills to position Parallex Bank as one of the leading technology-driven financial institutions in the country. Within less than two years of its operation as a deposit money bank in Nigeria, Parallex Bank, under Bakre’s leadership, has demonstrated strong indicators of being a sustainable and profitable institution.


Bakre, a seasoned banker, commenced his  career with MBC International Bank, later assuming the position of General Manager and eventually becoming the Group Head, Multilateral, Financial Institutions, and Global Custody at First Bank after MBC’s acquisition in 2006. He distinguished himself by initiating and delivering the First Bank of China Representative Office. He joined FCMB in 2011 and held various positions until he was appointed Executive Director of Corporate and Institutional Banking in the United Kingdom and Nigeria. He was appointed as the Managing Director of Parallex Bank in 2021, making him a pioneering Managing Director of the bank as a commercial bank.

According to Bakre, Parallex Bank’s investment in digital technology has made it one of the preferred banks in the industry due to the efficiency, convenience, and reliability of its digital platforms. He emphasized that Parallex Bank has become highly attractive to customers due to its value-added services, such as zero account maintenance fees, free interbank transfers, free debit cards, and unique account numbers.

He said Parallex Bank is driven by a commitment to delivering premium value-adding services that meet the diverse needs of all customer segments, including individuals, corporations, and businesses, with a particular focus on SMEs and commercial entities.

Expressing humility in the face of the awards, Olufemi Bakre stated that it is fulfilling to see efforts, sacrifices, dedication, and passion being recognized externally, in addition to bearing fruit for the organization. Bakre considers the award a great honor and privilege, dedicating it to God, who has transformed his journey from humble beginnings to modest grace, and to the passionate workforce of Parallex Bank.

Bakre said Parallex Bank’s vision to become the leading financial solutions provider, revolutionizing the customer experience through innovation, coupled with the collective determination to redefine banking services and provide customers with unparalleled opportunities, was the driving force behind receiving the award.

He added that the steadfast dedication of the Board, management, and the team to delivering limitless possibilities has also garnered the trust and acknowledgment of their valued customers. He expressed gratitude to the Board of Parallex Bank for their relentless support and to the management of The Sun Newspapers for deeming him worthy of the honor.

Other notable awardees of The Sun Awards 2023 include Tobi Bakre, who won the Nollywood Icon of the Year, the founder and president of Dangote Group, Aliko Dangote, Tony Elumelu, and Dapo Abiodunm, Governor of Ogun State, among others.

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