KEYSTONE appoints transition board members

After the successful conclusion of the divestment of Keystone Bank Limited  by the Asset Management Corporation of Nigeria (AMCON), to the Sigma Golf-Riverbank Consortium, the bank has put in place a transitional governance arrangement. A release by the  Head, Corporate Communications, Omobolanle Osotule  indicates that Alhaji Umaru H. Modibbo- would serve as the Board Chairman. […]

After the successful conclusion of the divestment of Keystone Bank Limited  by the Asset Management Corporation of Nigeria (AMCON), to the Sigma Golf-Riverbank Consortium, the bank has put in place a transitional governance arrangement.

A release by the  Head, Corporate Communications, Omobolanle Osotule  indicates that Alhaji Umaru H. Modibbo- would serve as the Board Chairman.

Other appointments include Mr. Hafiz Bakare-Acting Managing Director/CEO, Mrs. Yvonne Isichei-Executive Director, Mrs. Titilayo Tairat Adebiyi-Non-Executive Director and Mr. Bulus Bunken Dan-Habu-Non-Executive Director.

The transitional governance arrangement which will take effect from the 1st of April 2017 is subject to approval by the Central Bank of Nigeria.

By the 31st of March 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. 

The new transitional board chairman Alhaji Modibbo started his working career as a Commercial Officer in the then Gongola State Civil Service, and  later joined the Gongola State Investment Company Limited where he rose to the rank of Senior Investment Executive.

A 1983 graduate of Business Administration from the Ahmadu Bello University, Zaria, Alhaji Modibbo qualified as a Chartered Stockbroker in 1991 and was elected to the Council of the Nigerian Stock Exchange from 1993 to 1996. He is currently a member of the Investors Protection Fund (IPF) of the Nigerian Stock Exchange.

Alhaji Modibbo founded Sigma Pensions Limited, and served as its Managing Director/Chief Executive from 1st February 2011 to 31st October 2016.

Hafiz Bakare, the Acting MD/CEO is currently the Executive Director, Corporate Bank & Treasury at Keystone Bank Limited and also oversees the Lagos & West Directorate. Before his appointment to the Board of Keystone Bank in July 2014, he was running a management consulting and capacity development firm he founded with the objective of assisting organizations across different sectors to deliver sustainable value in an increasingly challenging and dynamic environment.

Mr. Bakare has wide ranging professional experience cutting across management consulting, banking, insurance, manufacturing, health and other sectors.