Keystone bank gets new chairperson, non-executive directors

Keystone Bank on Wednesday said the Central Bank of Nigeria (CBN) has appointed a new chairperson and additional executive directors for the bank, signalling a significant leadership shift.

The announcement, made on Wednesday, follows the recent overhaul of the bank’s management structure.

A statement by the bank said Ada Chukwudozie has been named the new chairperson of Keystone Bank, alongside five newly appointed non-executive directors: Abdul-Rahman Esene, Fola Akande, Akintola Olusoji, Obijiaku Samuel, and Farouk Bello.

In addition, Ladi Oluwole and Abubakar Usman Bello have been appointed as new executive directors.

According to the statement, Mrs Chukwudozie, a distinguished figure in Nigeria’s corporate sector, brings nearly three decades of experience in business strategy and management.

Her previous roles span across various industries, including De-Endy Industrial Company Limited, Dozzy Group, the Manufacturers Association of Nigeria (MAN), and Vogue Afrique Magazine.

This leadership change is part of a broader restructuring initiated by the CBN in January.

At that time, the CBN dissolved the boards and management of several major banks, including Keystone Bank, due to non-compliance with key regulatory standards.

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The decision was put in place to address significant lapses in governance and regulatory adherence that jeopardised financial stability.

Following the dissolution, the CBN appointed Hassan Imam as the Chief Executive Officer and Managing Director of Keystone Bank.

The restructured leadership team is expected to drive a new strategic direction for Keystone Bank, which has been under the ownership of Sigma Golf River Bank Consortium since its acquisition from the Asset Management Corporation of Nigeria (AMCON) in 2017.