Peter Ohiakhuemi Longe (FCCA) is a Fellow of the Association of Chartered Certified Accountants (ACCA), United Kingdom (UK) and an Associate member of the Institute of Chartered Accountants of Nigeria (ICAN). He holds a Bachelor of Science degree in Economics from the University of Ibadan, Nigeria (1982). With over 30 years of work experience as an accountant, auditor, banker, private equity practitioner, management consultant, entrepreneur and business coach, he is a very experienced manager of people and resources.
His career covers middle and senior management progression through various organisations including as deputy financial controller and financial controller in top Nigerian commercial banking companies (e.g. Citibank Lagos and the United Bank of Africa Plc. (UBA)). It also involves C-level service as Chief Financial Officer and Chief Executive Officer/Managing Director in the mortgage and microfinance banking sectors within the Nigerian banking industry.
He assumed primary responsibility for creating a private equity capability for UBA. Appointed the Managing Director/Chief Executive Officer of UBA Private Equity Limited (UBAPE) in November 2004, he was the key investment professional in that organization which he headed until August 2006 (UBAPE is a wholly-owned Private Equity (PE)/Venture Capital (VC) subsidiary of UBA). In that capacity he exercised responsibility for management of the bank’s N3.45 billion (US$22 million approximately) small business private equity fund called the Small & Medium Enterprises Equity Investment Scheme (SMEEIS) Fund. SMEEIS is an open-ended private equity fund regulated by the Chartered Institute of Bankers of Nigeria & the Central Bank of Nigeria. Over this period, he completed several early-stage, mainly all-equity deals in various businesses across diverse industrial sectors. Alongside private equity, as from 2003 he drove the development of a capability for UBA in microfinance as project manager of the bank’s proposed microfinance subsidiary called UBA Microfinance Bank Limited (UBAMFB). This initiative involved coordination of all start-up activities including; conduct of a greenfield feasibility study for microfinance in Nigeria, the development of a comprehensive business plan for UBAMFB, handling the incorporation & licensing of the company, staff recruitment, selection of a technical assistance provider for the venture and the negotiation of comprehensive Participation Agreements with prospective joint venture partners.
Six years later in 2008, backed by a consortium of private sector investors he registered, obtained regulatory licensing and launched PeopleSERVE Microfinance Bank Limited, a Lagos-based unit microfinance bank.
In 2008, he conceptualised and birthed the Lagos State Microfinance Initiative (LASMI). LASMI is an ambitious public sector effort to introduce and entrench an integrated and comprehensive approach to nurture, promote and support pro-poor efforts within Lagos State, Nigeria. It was introduced as part of institutional state-wide efforts to support an estimated 2 million entrepreneurially-inclined and economically active persons at the grassroots of society. LASMI sought to empower women traders and petty-entrepreneurs with monthly access to revolving microfinance loans starting from US$55-equivalent plus basic business administration knowledge and skills. The scheme also aimed to encourage young school leavers to remain within their respective communities by having them serve as agents to government [within their communities] interfacing (i.e. identifying, maintaining and supporting) with beneficiaries of LASMI’s microfinance loans particularly as trainers for the government's mandatory business training programmes. Working as a Consultant/Conceptualist Peter Longe’s activities with LASMI involved:
Subsequently in 2009, he participated in conceptualising a similar microfinance initiative for Katsina State, Nigeria; and over the years, he has also developed pro-poor initiatives for various private sector organisations and in the development finance space in Nigeria.
Exceptional leadership and excellent communication abilities, as well as well-developed presentation and very strong analytical & problem solving skills; all being characteristics which he counts as personal qualities, have been nurtured by capable career-grooming and relevant executive education programmes at Frankfurt School of Finance & Management, Frankfurt, Germany, Harvard Business School, Boston, USA, International Faculty of Finance, London, UK, the Venture Capital Institute, Atlanta, GA, USA and INSEAD, Fontainebleau, France.