Joseph Omayuku is the Managing Partner of Setivel Counter-Fraud Services and also has direct responsibility for the Ethics and Governance Units of the firm. Before assuming this role, Mr. Omayuku had worked in diverse segments of the economy, including advertising and marketing communications, audit and the financial services industry where he served for 26 years and rose to become a Director in the Central Bank of Nigeria (CBN). He was the inaugural head of the Economic Intelligence Unit of CBN and led the team that provided the investigative breakthrough that enabled the Federal Government of Nigeria to secure a right of appeal against the judgement debt of $11 billion awarded by a UK Court in favour of Process & Industrial Developments Limited.
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Under his leadership, the Bank’s Code of Ethics was revised in 2023, after twenty years of implementation. He also supervised the preparation of the Conflict of Interest and Whistle-blowing policies of the Bank for approval in 2022 and 2023, respectively. He was deployed to head the Financial System Strategy Secretariat in October 2023, in which capacity he led the process of formulating a new strategy for the Nigerian financial services industry, championed efforts to unlock capital for small and medium sized enterprises, and collaborated with industry stakeholders to upscale Factoring in the Nigerian financial markets. He also represented CBN on the Board of the Economic and Financial Crimes Commission.
Mr. Omayuku was engaged in commercial banking before joining the CBN in 2003. In the course of his commercial banking service, he worked in the operations, accounting, internal control and internal audit units of the industry wherein he thwarted several fraud attempts and investigated a number of fraud cases, including a foreign exchange fraud of $100 million, and secured recoveries of large amounts. He served as a resource person in training programs organized by CBN and Nigeria’s Financial Institutions Training Centre and has coached several bankers on banking operations, accounting and audit, internal control and compliance, amongst others.
Mr. Omayuku graduated from accounting school in 1991 and subsequently obtained a Bachelor’s Degree in Economics from the University of Ibadan and a Master of Business Administration from Bangor University, Wales, United Kingdom (UK). He is a fellow of the Institute of Chartered Accountants of Nigeria and Compliance Institute of Nigeria, a member of the Chartered Banker Institute of Scotland and the Chartered Institute of Bankers of Nigeria, a counter fraud specialist accredited by the UK Counter Fraud Professional Accreditation Board in conjunction with Northumbria University, UK, and a fraud examiner certified by the Association of Certified Fraud Examiners. He has attended several technical and leadership training programs, including the Leadership in Crises training at Harvard Kennedy School, Boston; Loan Analysis School of the FDIC University, Arlington; Big Data and Data Analytics course of Euro Training and Excellence in Customer Service training of Meirc Training and Consulting. He is currently a graduate student of Johns Hopkins University.