By Abiola Olawale
The Central Bank of Nigeria (CBN) has announced the appointment of a new board of directors of Keystone Bank.
This announcement was made in a press statement issued by Keystone Bank on Wednesday.
According to the statement, the move by the apex bank is to ensure sustained growth for the financial institution.
According to the statement, Lady Ada Chukwudozie has been appointed as the board chairman, along with five non-executive directors: Abdul-Rahman Esene, Mrs Fola Akande, Akintola Ayodeji Olusoji, Obijiaku Samuel, and Senator Farouk Bello.
In addition, the CBN also named two new executive directors, Ladi Oluwole and Abubakar Bello.
The New Diplomat reports that Chukwudozie, who was appointed as the board chairman, is a prominent figure in Nigeria’s corporate sector.
She has about three decades of experience in business strategy, management, and administration.
Her expertise cuts across multiple industries, including De-Endy Industrial Company Limited, Dozzy Group, the Manufacturers Association of Nigeria, and Vogue Afrique Magazine.
Speaking on the appointments, Keystone Bank’s Managing Director and CEO, Hassan Imam, expressed confidence in the new board members, stating that their wealth of experience would play a crucial role in the bank’s continued repositioning and growth.
He said: “We are pleased to welcome the new chairman, non-executive directors, and executive directors to the board of Keystone Bank. We are confident that their extensive experience will be invaluable as we continue to reposition the bank to seize emerging economic opportunities while maintaining strong corporate governance and providing our customers with a secure and reliable banking experience.”
It would be recalled that in January, the CBN dissolved the Board and Management of three major banks — Union Bank, Keystone Bank, and Polaris Bank.
According to a press release dated January 10, 2024, this decision was driven by the bank’s failure to comply with key regulatory requirements. The relevant provisions—Section 12(c), (f), (g), (h) of the Banks and Other Financial Institutions Act, 2020—outline important regulatory and governance standards.
