CBN makes changes to board of Keystone Bank, names executive, non-executive directors

• A new board of directors has been formed by the Central Bank of Nigeria in an effort to enhance Keystone Bank Limited's operations
• The financial institution said in a statement on Wednesday that Ada Chukwudozie was appointed as the board chairman
• The two new executive directors, who were also appointed by the CBN, are Ladi Oluwole and Abubakar Usman Bello

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

As part of the plan to improve Keystone Bank Limited's operations for long-term corporate growth, the Central Bank of Nigeria (CBN) has appointed a new board of directors.

In Nigerian business circles, the new board chairman of Keystone Bank is a well-known figure. Photo Credit: Keystone Bank
Source: Getty Images

Two more executive directors were also nominated by the apex bank to the lender.

The financial institution said in a statement on Wednesday that Ada Chukwudozie was named the board chairman, along with five other non-executive directors, including Abdul-Rahman Esene, Fola Akande, Akintola Ayodeji Olusoji, Obijiaku Samuel, and Farouk Bello.

The CBN also appointed Ladi Oluwole and Abubakar Usman Bello as the two new executive directors.

BusinessDay reported that with almost 30 years of expertise in business strategy, management, and administration, the new board chairman of Keystone Bank is a well-known name in Nigerian business.

The Manufacturers Association of Nigeria (MAN), Dozzy Group, Vogue Afrique Magazine, De-Endy Industrial Company Limited, and other organisations are among the many industries and organisations in which she has experience.

CBN's dissolution of banks' boards unsettles customers

Legit.ng reported that the Central Bank of Nigeria (CBN) on Wednesday, January 10, dissolved the board and management of Union, Keystone and Polaris Banks.

CBN made this known in a statement signed by its Ag. director of corporate communications, Mrs. Sidi Ali Hakama.

The action of the CBN has got many talking on social media, especially on X.

CBN clears status of Union Bank, Polaris, Keystone, Others

Earlier, Legit.ng reported that the Central Bank of Nigeria (CBN) has once again reassured the banking public of the safety of their deposits and the resilience of the banking system.

It stated this in response to accusations made in some quarters regarding the soundness of some Nigerian banks following the termination of Heritage Bank Plc's license.

The acting director of the apex bank's corporate communications department, Hakama Sidi Ali, refuted rumours that the regulator was considering canceling the operating licenses of Fidelity, Polaris, Wema, and Unity Banks in a conversation with New Telegraph on Monday, June 10.

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Source: Legit.ng