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GTbank Completes Reorganization, Appoints Miriam Olusanya As The New MD

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The Guaranty Trust Bank (GTBank) has appointed Mrs. Miriam Olusanya as its new Managing Director. This change of guard was contained in a notice sent to the Nigerian Exchange Group Limited (NGX) on Wednesday, the tier one lender also announced the successful completion of its re-organization into a Holding Company Structure.

The new operating company with the brand name Guaranty Trust Holding Company Plc (GTCo) will be headed by Mr. Sola Oyinlola as Chairman while Mr. Segun Agbaje is the Group Chief Executive Officer.

Other members of the company’s Board are – Mrs. Cathy Echeozo (Non-Executive Director), Mrs. Helen Bouygues (Independent Non-Executive Director), and Mr. Adebanji Adeniyi (Executive Director).

The banking subsidiary, GTBank’s Board will comprise of Mr. Ibrahim Hassan (Chairman), Mrs. Miriam Olusanya (Managing Director), Mr. Olabode Agusto (Non-Executive Director), Ms. Imponi Akpofure (Independent Non-Executive Director), Mrs. Victoria Adefala (Independent Non-Executive Director), Mr. Jide Okuntola (Deputy Managing Director) and Mr. Haruna Musa (Executive Director).

According to the notice signed by the company’s Secretary, Erhi Obebeduo, the board was reconstituted following the retirement of about four Directors.

Agbaje, who spoke on the completion of the corporate re-organization, said: “We believe that a Holding Company Structure will allow us to take advantage of new business opportunities in the emerging competitive landscape and strengthen our earnings base.

“We are very excited to get started on the next phase of our incredible journey to driving Africa’s growth by making end-to-end financial services easily accessible to every African and African business by leveraging technology and strategic partnerships.

“As a bank, we were always looking to meet every customer need; with our corporate re-organization, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities.

“Whilst we are evolving as an organization, we remain committed to our founding values which have endeared our brand to millions of people across Africa and beyond, and which continues to drive our financial success.

“As a proudly African and truly an international brand, we will continue to live by these values of excellence, hard work, and integrity, even as we create faster, cheaper, safer, and more diverse products for people and businesses of varied types and sizes.’’

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Appointments

Ecobank Group Appoints Jubril Mobolaji Lawal as Regional Executive and Managing Director Designate for Ecobank Nigeria

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Jubril Mobolaji Lawal

Ecobank Group, the leading pan-African banking group, announces that Jubril Mobolaji Lawal has been appointed as Regional Executive and Managing Director designate of Ecobank Nigeria, subject to the approval of the Central Bank of Nigeria.

The appointment is made ahead of Patrick Akinwuntan’s upcoming retirement, due to him reaching retirement age in January 2022.

Mobolaji Lawal joins Ecobank having been a versatile senior banking executive and digital transformation specialist for over 28 years with Guaranty Trust Bank Plc. He has deep involvement and experience in digital and retail banking, corporate and commercial banking, credit risk management and corporate finance. His previous experience includes being Executive Director at GTBank Plc Nigeria, and Non-Executive Director roles at both GTBank Ghana Limited and Nigeria Interbank Settlement Systems Plc. Mobolaji led the team that envisioned and implemented GTBank Plc’s retail and digital banking strategy to achieve industry-wide leadership over a ten-year period and he introduced new products and solutions that have helped to deepen payments and access to digital financial services in Nigeria.

Mobolaji was selected and appointed as Managing Director designate following a keenly contested selection process, which included both internal and external candidates.

Mobolaji Lawal holds a Bachelor of Law degree from the Obafemi Awolowo University, Nigeria; B.L. from the Nigerian Law School and a Master of Business Administration from Oxford University, United Kingdom. He has also attended several executive management and banking specific developmental programmes at leading educational institutions including Harvard Business School, Stanford Graduate School of Business and Institut Européen d’Administration des Affaires (INSEAD).

Commenting on the appointment, Ade Ayeyemi, CEO, Ecobank Group said: “We welcome Mobolaji Lawal to the Ecobank Group and we stand to benefit from the extensive experience that he has acquired in various fields across banking, which will play a major role in continuing to rebuild our franchise in Nigeria. Nigeria is a key market for us, in which we have seen significant improvement over the past three years as we reposition and leverage upon our pan-African strengths in digital products and services, payments and as the go-to-bank for businesses seeking to grasp the growth opportunities being created by the AfCFTA, across all our markets on the continent. I wish Mobolaji the best and assure him of both my support and that of the entire Ecobank Group.”

Mrs. Bola Adesola, the Chairman of the Board of Ecobank Nigeria said: “We look forward to working with Mobolaji and assure him of the full support of the Board, Management and all the staff of Ecobank Nigeria. The business in Nigeria is on the path of transformation and we are confident that Mobolaji will have significant impact in advancing our positive trajectory.”

Mobolaji Lawal will assume the position of Managing Director, Ecobank Nigeria, upon receiving the approval of the Central Bank of Nigeria and after Patrick Akinwuntan retires.

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Stanbic IBTC Bank Announces Appointment of Sola David-Borha as Chairman of Board

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Sola David-Borh

The Board of Stanbic IBTC Bank PLC (“the Bank”) has announced the appointment of Mrs. Sola David-Borha as Chairman of the Board, effective 26 November 2021.

Sola recently retired as Chief ExecutiveStandard Bank, Africa Regions. She was previously Chief Executive of Stanbic IBTC Holdings PLC and prior to that, was also Chief Executive of Stanbic IBTC Bank PLC.

Mrs. David-Borha has had an extensive career in the financial services industry which has spanned over three decades. Her executive educational experience includes the Advanced Management Program of Harvard Business School and the Global CEO Program of CEIBS, Wharton and IESE. She is an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria and winner of the CNBC African Woman of the Year Award for 2016.

While commenting on the appointment, Mr. Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC, stated, “Mrs. David-Borha has held several leadership roles over the years in the group and once again, we are privileged to have her as the Chairman of the Board of Stanbic IBTC Bank PLC. The Bank will definitely benefit from her wealth of experience as she brings to bear her decades of experience and wealth of knowledge in the financial services industry”.

Mrs. Sola David-Borha takes over from Mr. Barend Kruger who resigned as Chairman of Stanbic IBTC Bank on 21 October 2021. Kruger, however, remains on the Board of Stanbic IBTC Holdings PLC as a Non-Executive Director.

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Prof. Enase Okonedo Announced the New Vice-Chancellor of Pan-Atlantic University (PAU)

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The Board of Trustees of Pan-|Atlantic University (PAU) Foundation has appointed Professor Enase Okonedo as the new Vice-Chancellor of PAU.

In a statement on its website, the institution congratulated the new Vice-Chancellor stating that her appointment reflects PAU’s commitment to nation-building by producing industry-ready graduates and by engaging with the community through research and partnership.

The institution that has as its unit the popular Lagos Business School also expressed its firm belief that Professor Enase will take the institution to greater heights considering her pedigree, expertise, passion, and leadership.

Her appointment is coming at a very dare time when there has been an increase in the clamour for the inclusion of more women in major leadership positions. Her appointment will therefore add her to the list of the very few numbers of female Vice-Chancellors in Nigerian Universities.

Before the recent appointment, she had served in various leadership positions including as the Deputy Vice-Chancellor, an office she is still holding. She was appointed Dean of Lagos Business School (LBS) in July 2009 and held the position until December 2020.

In the statement released by the institution, the new Vice-Chancellor’s qualifications and education were listed and praised.

“Over the course of her career, she has risen to become an internationally recognised educator, serving on various boards in the management education industry. She is on the board of Global Business School Network (GBSN), United Nations Principle for Responsible Management Education (UNPRME), and the Academic Advisory Board of Blatnavik School of government, University of Oxford,” the statement said.

“She has served on the board of Graduate Management Admission Council (GMAC), and held leadership positions on the boards of Association to Advance Collegiate School of Business International (AACSB) as Secretary-Treasurer, and the Association of African Business Schools where she was Chairperson.”

Professor Okonedo had her undergraduate education at the University of Benin and graduated with BSc, Accounting in 1987.

She is expected to resume her new role on January 1, 2022.

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