The NCBN, in a statement signed by the National Chairman, Mr Wale Adesanya, made available to newsmen on Friday in Lagos, said the appointment took effect on Tuesday.
According to the statement, Babalola will be taking over from Mr Elaye Otrofanowei, who has served out his second term as the president of the Ottawa Hub of the Network.
It said Babalola’s tenure would last for two years ending in 2024.
“Babalola will continue to pursue the network’s policy of empowering Nigerian and Canadian business people in the national capital region and build on a strong relationship with the diplomatic community and Canadian government.
“Babalola is the General Overseer, and Senior Pastor of Tabernacle of Prayer, and the Executive Chairman, Board of Trustees, Fellowship of Yahweh Tabernacle Inc.
“He is also a graduate of Columbia College Hollywood Los-Angeles, where he obtained a BA in Mass Communications in 1977, University of California, Los-Angeles: Postgraduate- diploma in Advertising and International Marketing in 1978,” said the statement.
He also has extensive experience spanning over 40 years in international marketing, trade and investment promotions, banking, corporate advertisements, political campaigns, and international development.
“NCBN is the voice of Nigerian Business Community in Canada. We are Business Bridge Builders.
“NCBN symbolises excellence, inspiration, celebration and success for all Nigerians and Canadians doing business in both countries.
“We facilitate meaningful approaches to beneficial networking, embrace new ways of enriching our connections and raising awareness of our members. Rich in our membership, we embrace business people of all ages, cultures, industries and professions.
“We are mentors, sharing experiences, challenges and wisdom, collaborating within the network, and ultimately building a great bi-lateral business community,” he said.