Precise Financial Systems

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A Celebration of 25 Years of Innovation

On May 14, 2019, Precise Financial Systems Ltd. threw a party to celebrate 25 years of breaking barriers in software development. From July 1992, when it got registered as PEE-AARR Consulting Limited to when it changed its corporate name in May 1998 to PFS .

Board Members



A rare gem in many perspectives of human endeavour.  A Fellow of the Institute of Chartered Accountants of Nigeria, Association of Chartered Certified Accountants U.K. and Associate member of Nigeria Chartered Institute of Taxation.  A Professional Accountant of great repute, he got to the pinnacle of his profession by being appointed the President of The Institute of Chartered Accountants of Nigeria (ICAN) for 1995/1996.

For the treasure of his international training and exposure, his involvement in the sector is remarkable.  Currently, he serves as Chairman or member of the Board of some Public Quoted Limited Liability Companies (PLC) and Private Limited Liability Companies including Academy Press Plc and Smurfit Nigeria Plc.

He is a perfect symbol of what a man of substance should be.  He was instituted into an Holy Order of Knighthood by the Lord Bishop of Ondo Diocese, Church of Nigeria (Anglican Communion) and installed as the Grand Commander of the Order of Knight of Saint Christopher.  His commitment to business, humanity and God is worthy of emulation by all that thrive for excellence.


CEO & Managing Director

Yele Okeremi is the Founding and incumbent Chief Executive Officer of Precise Financial Systems Ltd (PFS). A company he co-founded with a capital of less than $60 in 1994. He is an Adjunct Professor of Business Strategy at the Nobel International Business School Accra, Ghana.

Okeremi holds a Doctor of Business Administration degree from the Swiss Business School, Zurich, Switzerland having previously obtained a Master of Applied Business Research from the same institution. He also has a Bachelor of Science degree in Computer Science (with Economics) from the Obafemi Awolowo University and a Masters in Business Administration. He is an alumnus of the Wits Business School, Johannesburg South Africa and Harvard Business School, Boston, Massachusetts, USA where he completed the Owner President Management Program. He is also an alumnus of INSEAD Fontainebleau, France where he completed the International Directors Program and obtained the Certificate in Corporate Governance.

Prior to PFS, he had a successful professional career at Inlaks Computers before he proceeded to Industrial Bank Limited (Merchant Bankers) as a Programmer/Analyst. He was the Chief Information Officer of Industrial Bank as at the time he left for Ventura Savings and Loans Limited as the Head, Systems and Logistics department. He held this position until 1994 when he co-founded PFS with Philip Ayeni, a Chartered Accountant.

As a leading icon in software development in Nigeria, Okeremi is a member of the Presidential Initiative for developing the software industry in Nigeria and has previously served on the board of the Nigeria Information Technology Development Agency (NITDA). He is the President of the Institute of Software Practitioners of Nigeria (ISPON) having previously served as Second and First Vice President and Chairman Legal and Legislative Committee of the Institute.

As a technology startup advocate supporting the promotion and funding of indigenous entrepreneurs, twice, he served as the chairman of the Local Organizing Committee [LOC] for Demo Africa in 2014 and 2015. Demo Africa is an initiative of the United States Department of State and Lions@frica to promote innovation in the technology field globally and connecting startup companies with investors.

Dr. Okeremi has a passion for the development of intellectual capital of the black race and continues to advocate his position that irrespective of the conditions of the black man, the black man is by no means inferior in intelligence to anyone else in the world.


Deputy Managing Director

Philip Ayeni is the Deputy Managing Director (DMD) in Precise Financial Systems Ltd., the Nigerian foremost financial software development firm since March 1994. He is a Fellow of the Institute of Chartered Accountants of Nigeria. Philip is also a product of INSEAD International Director Programme and the CEIBS Owner Director Programme. 

With many years of prior banking and financial audits experiences, Philip had established his competencies in financial and business solutions design and implementation as well as in system consultancy. His experience in solutions design and implementation spans banking application software, core accounting software, accounts reconciliation software, cheque payment and clearing solutions, IPSAS-compliant public accounting solution, etc. Key consulting experiences cover process engineering and automation, accounting bureau service, financial cost adjustment and office automation.

In his role as DMD of Precise Financial Systems Ltd., he supervised the design, development, and implementation of the only one National Automated Clearing System currently running at the Nigeria Interbank Settlement Systems (NIBSS), which has transformed the cheques clearing and value delivery as well as the Nigeria Electronic Fund Transfer (NEFT) experiences in the country. The system now gives Nigeria the capacity to be same-day and real-time cheque clearing enabled. He also coordinated  the deployment the novel Cheque Truncation Solution to the Central Bank of Nigeria

(CBN) at all the bank’s branches nation-wide and across many other commercial banks in Nigeria.

Philip was also instrumental to the independent forensic audit and verification of bank charges for the Dangote Group for sixteen (16) bank accounts for the period January 1999 to March 2006. The multinational deployment of an integrated automated accounts reconciliation for the Ecobank Transnational Incorporated, a foremost African regional banking group, across its 37 affiliate countries was also under the watch and supervision of Philip Ayeni. Similarly, Philip coordinated the design, development and implementation of the Treasury Department’s current multi-channel and end-to-end payment system for the Lagos State Treasury Department, Ministry of Finance, Lagos State, Nigeria.


Chief Technology Officer/Executive Director

Seyi Osifalujo is the Chief Technology Officer (CTO) and a Executive Director on the board of Precise Financial Systems Ltd since 2007, with cumulative software development years of over nineteen (19) years spanning across a handful of organizations and industries some of which include Softworks Nigeria Limited as Senior Programmer, Intercellular Nigeria Limited as Billing Manager (Kaduna District), Walcom Computers Limited as Programmer, etc.

Seyi has worked severally at supervisory roles and participated in the development of a number of nationally and internationally celebrated financial software systems. Prominent among them are the design and management of the implementation and delivery of the Nigeria Automated Clearing System (NACS) for the Nigeria Inter-Bank Settlement Systems Plc (NIBSS) in September 2017. He also took charge of managing the delivery of Cheque Truncation Solution (CTS) for 5 Banks (including Central Bank of Nigeria) in June 2013. The management of the developmental and maintenance work on the recently international award-winning Automated Accounts Reconciliation – CLIREC according to Bobsguide rating is also a major achievement on the profile of Seyi, among others. 

Seyi’s education and professional certifications are Harvard Business School, Boston (Senior Executive Program – Africa, November 30, 2018), Georgia State University, 

Atlanta (Integrated Leadership & Business Operations Program, 2008), Microsoft Certified Solution Developer (MCSD) 2006, Microsoft Certified Application Developer (MCAD) 2005, Microsoft Certified Professional (MCP) 2005. Others are in Computer Science – M.Sc. from University Of Lagos (in view), Computer Science – PGD from Obafemi Awolowo University, Agricultural Engineering – B.Sc. from Obafemi Awolowo University, etc.



A Chartered Engineer and a member of the Nigerian Society of Engineers, he is a renowned Civil Engineer of international repute. He was Commissioner for Agriculture and Commissioner for Finance at various times in the old Oyo State. He was also a member of the Constituent Assembly in 1990.


He is also the Chairman, Chief Executive of UNIK Engineers Limited, a firm of Civil and Structural Engineers.



Mr. Famoriyo graduated in Economics at the University of Ife (now Obafemi Awolowo University), Ile-Ife. He is a Fellow of both the Chartered Institute of Management Accountants (FCMA) and the Institute of Chartered Accountants of Nigeria (FCA).


He was at various times Financial Controller in various organisations including Icon Limited (Merchant Bankers), Industrial Bank Limited (Merchant Bankers) and Shell Petroleum Development Company.


Along with his expertise as a professional Accountant and a Banker, he combines a high degree of innovativeness in the application of computer technology to banking operations. He is currently the Managing Partner of an independent Consulting Firm.

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