Mr. Oyefiade is a 1984 Master of Science graduate of Economics (Econometrics) from Ahmadu Bello University, Zaria. After his B.Sc. (Economics) degree from the University of Lagos in 1980, he was posted to the Ahmadu Bello University, Zaria for his mandatory national youth service where he served as a graduate assistant in the Department of Economics. Prior to his university education, Mr. Oyefiade was a Federal Civil Servant with the Federal Ministry of Mines and Power. After the national service, he returned to Federal Service in 1981 and was promoted to the post of Administrative Officer Grade VIII. Mr. Oyefiade returned to Ahmadu Bello University for his Masters degree program during when the University also employed him as a graduate assistant. He returned to Federal Service after his Masters Degree and was posted to the Federal Ministry of Finance. He is also a graduate of the Centre for Financial Assistance to African Countries (FINAFRICA) Milan, Italy, where he obtained an Advanced Diploma in the Economics of Banking in 1987. Mr. Oyefiade rose to the post of Senior Finance Officer in 1988 and voluntarily retired from the Federal Service in 1989 after 18 years of service.
Mr. Oyefiade began a new career in Banking when he joined the Nigeria International Bank Limited (a subsidiary of Citigroup) in 1989 as Assistant Manager and Head of Credit Administration, with responsibility for managing the Bank’s Risk Management Process. He was promoted to the post of Manager in 1990 and to the post of Assistant General Manager in 1993 while serving as Head of Credit Administration. Mr. Oyefiade actively participated in several global Citibank initiatives taking place at the time, such as the Risk Rating Process, Risk Administration Process, Central Liability Management, Debt Rating System and Global Risk Reporting. In 1995, he was seconded to Citibank Tanzania for a short-term assignment to set up the Risk Management Process of the branch. In 1998, he was also seconded to Citibank N.A. South Africa on an assignment as Deputy Country Credit Head to assist the development of the Bank’s Risk Management Process and prepare for a major Corporate Audit, which took place in the branch.
Mr. Oyefiade returned to Nigeria in 1999 to assume the position of the Chief Internal Auditor and Quality Assurance Head of Nigeria International Bank Limited. Coupled with his function as the Internal Auditor and Controller, Mr. Oyefiade was also the Bank’s Business Information Security Officer (BISO) with responsibility for monitoring the security of the bank’s information assets. He was also the Country Business Unit Fraud Manager (BUFM) responsible for the bank’s Fraud Management. As head of Quality Assurance, he was in charge of the bank’s Internal Audit. He was also the Country Records Management Officer responsible for managing the bank’s Records Management Process. He was promoted to the position of Vice President (Deputy General Manager) in April 2000 while serving in these capacities. He was a member of the Committee of Chief Inspectors of Banks in Nigeria between 1999 and 2004 and served on the Emerging Issues and Technology Sub-Committees.
As a staff member of Citigroup subsidiary in Nigeria, Mr. Oyefiade attended several training courses in Banking Operations, Information Security and Fraud Management in Citigroup locations and training centers in the UK, Hungary, Poland, UAE, Turkey, Czech Republic, Kenya and South Africa at various times. He was a member of the 1990 class of Barry Frolinger ELCAD Credit Training conducted for Citibank in Lagos. Mr. Oyefiade was a participant at the London-based IFEX Fraud Training Program, which held in Ghana in 2002. He was trained, principally, in risk management process, operations management, information security, fraud management and internal control in which he has gained expertise over the years.
Mr. Oyefiade resigned from services of NIB in December 2004, after 16 years, to set up Khadiam Ventures Limited, a firm with principal focus in farming, training, consulting and management. He was a consultant/trainer to the Financial Institutions Training Centre (FITC) and has facilitated programs on Internal Control, Internal Audit, Branch Banking and Money Laundering. Mr. Oyefiade later joined Innocent Ariwaodo to establish Control Edge Consulting Limited, a consultancy services firm with specialization in Risks and Controls in a business environment. He is the Managing Director of the company.