Manish Singhal Becomes Sterling Bank’s Non-Executive Director

Sterling Bank has appointed Manish Singhal as a Non-Executive Director of the bank.

The bank made this known in a disclosure signed by Temitayo Adegoke, Company Secretary and obtained by Investors King.

It stated that the approval of the Central Bank of Nigeria has been obtained for his appointment.

The statement read in part, “We wish to notify Nigerian Exchange Limited, our esteemed shareholders, and the investing public of the appointment of Manish Singhal as a Non-Executive Director of Sterling Bank Plc.

Who is Singhal?

Manish Singhal has over twenty-six years of experience in the Financial Service Industry. He is currently the General Manager (Operations), International Banking Group (IBG), State Bank of India (SBI), where he oversees the Operations and Information Systems, Human Relations & Expansion Planning, and Strategy. He also oversees the implementation of IT-related policies and the activities relating to the IT infrastructure of SBI, among other responsibilities.

Before his current role at SBI, Mr. Manish Singhal worked as a full-time Director and Chief Financial Officer at SBICAP Securities Limited (a wholly owned subsidiary and broking arm of the State Bank of India).

During his career in SBI, Mr. Manish Singhal has held several other positions. He has vast experience in Business Development, Risk Management, Compliance, Customer Service, Human Resources, Administration, and Products Development.

Mr. Manish Singhal holds a Master of Science (Mathematics) from Garhwal University and is a Certified Associate of Indian Institute of Bankers (CAIIB).

The appointment came amid the claims made by the Independent Corrupt Practices Commission (ICPC), accusing it of hoarding N258 million worth of new naira notes at its Abuja regional office.

Meanwhile, in a recent statement signed by the bank’s public relations manager Ademola Adesina, it clarifies how the  sum of N258 million in the vault.

Debunking earlier reports by media platforms, Sterling Bank’s Chief Operating Officer Raheem Owodeyi explained that it was the bank officials who told the ICPC team about the presence of the sum of N258 million in the vault. He explained that the amount was there because the branch serves as a hub for the distribution of cash to other Sterling Bank branches across the regions like Utako, Wuye, Seda Close, Kotangora, and National Assembly offices.