In accordance with the new directive of the Central Bank of Nigeria (CBN) that recently capped the cumulative tenure of bank executives at 20 years across the banking industry, Mr. Gbenga Shobo, the Deputy Managing Director, has resigned his position with the bank.

According to FBN Holdings Plc, the parent company of First Bank of Nigeria, the retirement comes before Gbenga’s official retirement due on June 2, 2023 and is in line with CBN’s February 24, 2023 circular on Tenure of Directors.

While the board appreciates Gbenga’s contributions over the years, it has appointed Mr. Oluseyi Popoola Oyefeso as Executive Director, Retail Banking Directorate, South, Subject to the approval of the CBN.

Profile of Oluseyi Popoola Oyefeso

Until this appointment as Executive Director, Retail Banking South Directorate, Oluseyi Popoola Oyefeso was Group Executive, Retail Banking South Division and before then, Group Executive, Commercial and Retail Banking, Lagos and West Division. He was previously Country Managing Director, FBN Bank Ghana Limited. He is a result oriented executive with over 25 years experience in the Banking and Financial Services industry.

Seyi is a multi-skilled professional with very robust banking experience, proven problem-solving and strong leadership skills.

He is a competent leader, a team player and has over the years demonstrated the ability to develop positive business relationships, evidenced by remarkable track record of business growth. A seasoned banker and Chartered Accountant, Seyi started his banking career in January 1993 and has acquired extensive knowledge in Retail, Corporate & Commercial Banking, Credit Risk Management (Analysis & Administration) and Financial Control.

Seyi joined the Bank in 2006 as a Branch Manager of one of the top three branches and has held several positions, including Business Development Manager, Group Heads Retail Banking and Institutional Banking (Services & Conglomerates). A graduate of Accounting and a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Seyi is also an Associate of the Chartered Institute of Taxation in Nigeria.

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.

Fidelity Bank Plc has appointed Pamela Shodipo as Executive Director, South Directorate to further its strategic objective.

The bank made this known in the disclosure submitted to the Nigerian Exchange Exchange Limited (NGX) and obtained by Investors King.

According to the bank, the appointment was approved by the Central Bank of Nigeria (CBN) and notice of the same has been communicated to the NGX, Nigerian Deposit Insurance Corporation and Financial Reporting Council of Nigeria.

The bank also expresses confidence that Pamela will make a significant contribution to Fidelity Bank and looks forward to working closely with her.

About Pamela:

Pamela joins the board of Fidelity Bank Plc with over 25 years of multifunctional and cross-border banking experience at leading financial institutions covering general management and business origination in diverse segments including corporate, commercial, consumer, retail and public sector.

In January 1991, she commenced her professional career at International Standard Insurance Limited from where she joined United Commercial Bank Limited (UCBL) in 1992 as a customer service officer.

In April 1997, Pamela joined Zenith Bank Plc where she worked until September 2007, rising to the position of assistant general manager, before joining united Bank for Africa Plc (UBA) as Regional Director in October 2007.

Pamela enjoyed an illustrious career at UBA and headed various regional Banks. She was elevated to the position of General Manager in 2017 and had direct supervisory responsibility for up to 28 branch manager from 2017 to 2020.

Between October 2020 and November 2021, she was directorate, head, Lagos 3/Public Sector before her appointment as Managing Director/Chief Executive Officer of UBA Benin Republic, where she served from December 2021 to November 2022.

Pamela was the head of personal banking for the UBA Group overseeing Nigeria and Africa until her appointment to the board of Fidelity Bank Plc.

Pamela holds a Bachelor of Science degree in Psychology from the University of Lagos (1990) and a Master’s in Business Administration from the University of Wales College of Cardiff, United Kingdom (1995).

She has attended several business, leadership and executive development programme at world-class institutions including Lagos Business School, Harvard Business School and the University of Oxford, United Kingdom.

She is an Alumni of Lagos Business School Senior Management Programme (SMP22) and an honorary senior member of the Chartered Institute of Bankers of Nigeria (CIBN).