Following the takeover of Keystone Bank Limited by its new owner, a new transitional board has been constituted for the bank.
A statement from the bank said the transitional board, headed by Alhaji Umaru Modibbo, would formally take over on April 1, 2017.
Other members of the board include Mr. Hafiz Bakare, acting Managing Director/CEO; Mrs. Yvonne Isichei, Executive Director; Mrs. Titilayo Tairat Adebiyi and Mr. Bulus Bunken, Non-Executive Directors.
The statement read in part: “Following the successful conclusion of the divestment of Keystone Bank Limited by the Asset Management Corporation of Nigeria (AMCON), which culminated in the Completion Board Meeting last Thursday and the formal handover of the bank to the Sigma Golf-Riverbank Consortium (the Consortium), we are pleased to announce transitional governance arrangement.
“The transitional governance arrangement, which will take effect from April1 2017 is subject to approval by the Central Bank of Nigeria (CBN). “By March 31, 2017, the current board of the bank (including the MD/CEO, Mr. Philip Ikeazor) would have fully disengaged, except for Mr. Bakare and Mrs. Isichei, who will continue as part of the transitional governance board.”
Modibbos is the founder of Sigma Pensions Limited, and served as its Managing Director/Chief Executive from February 1, 2011 to October 31, 2016.
The new Managing Director, Bakare, is currently the Executive Director, Corporate Bank & Treasury at Keystone Bank Limited.