Mr. Ashade Akinyemi Jeremiah was until his appointment as Commissioner, Economic Planning and Budget by His Excellency, Governor Akinwunmi Ambode, a Partner at KPMG Professional Services, one of the big 4 international professional services firm with specialisation in audit, tax and advisory services. With over 16 years of professional experience with KPMG Nigeria and extensive skills in financial services industry, project and quality assurance management and public private partnership, he is surely a round peg in a round hole.
A Chartered Accountant and Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Akinyemi was born in Badagry on 6th October, 1975. He had his primary education at Anglican Primary School, Ilado, Badagry between 1981 and 86 and proceededto IworoAjido High School, Badgry where he passed the West African School Certificate of Education in 1992 before proceeding to University of Lagos where he graduated with B.Sc (second class upper division) in Biology in 1997.
Akinyemi joined KPMG (then Arthur Andersen, Nigeria) in March, 1999 and this provided an opportunity for a career change to Accounting. He became chartered in 2004 and was admitted as a partner in KPMG 2013. In 2015, he was appointed a Fellow, Institute of Chartered Accountants of Nigeria.
His affiliation with Andersen and KPMG has provided him with the opportunity to gain international experience in Audit and Risk Management Services. He has been exposed to public finance and private public partnership and has worked with several organisations in Nigeria including a banking regulator in an advisory capacity to articulate and implement policies that have enhanced risk management and systemic health of deposit money banks in Nigeria.
A visionary and challenge-driven professional/leader in private sector and a key participant in setting public agenda, Akinyemi has been involved in the provision of audit, assurance and advisory services to corporate entities within the financial services industry such as, banks, insurance companies, pension funds/custodians, assets management companies and other capital market operators. He has extensive experience which covers entities within the public private partnership space and development financial institutions in Nigeria
At KPMG, he was part of teams of professional advisers who advised a number of Nigerian banks to raise capital and debts internationally through provision of comfort letters and other allied services. He has also been involved in the review of Public Private Partnership (PPP) models for funding arrangement and viability of projects and adequacy of funding structure.
He actively participated in the periodic compliance reviews of debt covenants and agreements; due diligence reviews of various banks on behalf of various local and foreign investors; was part of seasoned professionals at KPMG who were engaged by a Nigerian Banking Regulator to review the banking model and prudential guidelines for deposit money banks in Nigeria.
The reviews became necessary as a fall-out of the global economic crisis and local banking crisis in Nigeria. The terms of engagement included consideration of the relevance or otherwise of the universal banking model and whether there is a compelling need to review the banking model as a result of Nigeria’s experience.
The findings and recommendations from the engagement led to the implementation of new banking model and introduction of provisioning regimes in Nigeria banking system that recognized the cash flows and gestation periods of various loan types including Project finance, object finance, income producing finance etc.
Mr. Akinyemi, a young, ebullient and versatile team player with a “can do” positive attitude, maintains close contact with his native community. He is happily married with children.