WorldStage– Sterling Financial Holdings Company Plc has officially notified the Nigerian Exchange Limited (NGX), shareholders, and the investing public of significant board changes at its banking subsidiary, Sterling Bank Ltd. The adjustments include the appointment of two Independent Non-Executive Directors alongside the retirement of four directors, all approved by the Central Bank of Nigeria.
New Board Appointments
Mr. Laoye Jaiyeola (Effective August 17, 2026): Appointed as Independent Non-Executive Director. Mr. Jaiyeola brings over 35 years of experience in financial services, corporate governance, and public policy. He is the Founder and Pro-Chancellor of Hillside University of Science and Technology (HUST). His prior roles include MD/CEO of Kakawa Discount House, CEO of the Nigerian Economic Summit Group (NESG), and President of the Chartered Institute of Bankers of Nigeria (CIBN).
Mr. Chinedu Ikwudinma (Effective August 20, 2026): Appointed as Independent Non-Executive Director. With more than 30 years in international banking, Mr. Ikwudinma previously served as Group Chief Risk Officer at Ecobank Transnational Incorporated. He also spent over two decades with Citibank, serving as MD/CEO of Citibank Uganda and Executive Director at Citibank Nigeria, and was the pioneer MD of Nova Merchant Bank.
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Board Retirements
The Group announced the exit of four key directors:
Mr. Michael Ajukwu – Independent Non-Executive Director (Tenure Expiration)
Mrs. Olusola Oworu – Independent Non-Executive Director (Tenure Expiration)
Mr. Olaitan Kajero – Non-Executive Director (Tenure Expiration)
Mr. Tunde Adeola – Executive Director (Attainment of prescribed retirement age)
The Board of Directors expressed deep gratitude to the outgoing members for their dedication, leadership, and contributions to the Bank’s growth over their respective tenures.
