Nigeria: CBN Appoints New Board for Keystone Bank, Ada Chukwudozie as Chairman to Lead Growth and Stability

The Central Bank of Nigeria (CBN) has appointed a new board for Keystone Bank Limited, aimed at bolstering the bank’s operations and driving sustainable growth. This move follows the CBN’s earlier decision in January to restructure the boards and management of Keystone Bank, Union Bank, and Polaris Bank to address operational challenges.

Keystone Bank announced that Ada Chukwudozie has been appointed as the new Chairman of the Board. She will lead a team that includes five non-executive directors: Abdul-Rahman Esene, Fola Akande, Akintola Ayodeji Olusoji, Obijiaku Samuel, and Farouk Bello. Additionally, Ladi Oluwole and Abubakar Usman Bello have been appointed as executive directors.

Ada Chukwudozie, a well-respected figure in Nigeria’s corporate sector, brings nearly 30 years of experience in business strategy and management across various industries, including De-Endy Industrial Company Limited, Dozzy Group, and Vogue Afrique Magazine. Her leadership is expected to help steer the bank towards stronger performance.

Abdul-Rahman Esene, with over 43 years of experience in banking, corporate finance, and investment management, has held senior roles at Afrinvest, Fidelity Bank, and Global Arbitrage International Inc. He brings vast expertise in corporate finance to the board.

Fola Akande brings 25 years of legal, compliance, and risk management experience from her tenure at Stanbic Chartered Bank and Shell, while Akintola Ayodeji Olusoji offers 30 years of experience in accounting and finance, having worked with institutions like Sterling Bank and Access Bank.

Obijiaku Samuel, with over 35 years in financial consulting and treasury operations, has held key positions at Fidelity Bank and Zenith Bank, while Farouk Bello has 20 years of experience in banking operations, including roles at the National Assembly and Guaranty Trust Bank (GTCO).

Executive directors Abubakar Usman Bello and Ladi Oluwole add significant experience in commercial banking and risk management. Oluwole, in particular, has served as senior vice-president at Bank of America, bringing international expertise to the team.

Keystone Bank’s Managing Director, Hassan Imam, expressed confidence in the new appointments, stating that the collective experience of the board will play a critical role in repositioning the bank for future growth. Imam emphasized that the new board will be instrumental in capitalizing on emerging economic opportunities and driving the bank’s strategic goals forward.

This new leadership is part of CBN’s broader efforts to enhance the stability and growth of the financial institutions under its purview, ensuring they remain competitive in Nigeria’s evolving banking landscape.