The Central Bank of Nigeria (CBN) has approved the executive management promotions recently announced by the Boards of Directors of Stanbic IBTC Holdings PLC and Stanbic IBTC Bank PLC.
Top on the list of these approved promotions is that of Dr. Demola Sogunle, who moves up to the position of Chief Executive, Stanbic IBTC Holdings PLC. Before this promotion, Dr. Sogunle was the Chief Executive of the Bank and previously served as Deputy Chief Executive. He will also continue to serve as a Non-Executive Director on the Board of the Bank.
Following the appointment of Dr. Demola Sogunle as Chief Executive, Stanbic IBTC Holdings PLC, Yinka Sanni, his predecessor in that role, has been promoted as Regional Chief Executive (West Africa) for Standard Bank Group.
In this new role, Mr. Sanni will have oversight responsibilities for Nigeria, Ghana and Cote d’Ivoire, as well as the delivery of Standard Bank Group’s strategy across the region.
Other promotions confirmed by the CBN included those of Mr. Wole Adeniyi, who now becomes the Chief Executive, Stanbic IBTC Bank PLC. Until his latest appointment, Adeniyi was the Deputy Chief Executive of the Bank and served previously as Executive Director, Personal and Business Banking.
With the appointment of Wole Adeniyi as Chief Executive of the Bank, Mr. Remy Osuagwu is now the Executive Director, Personal and Business Banking, Stanbic IBTC Bank PLC.
He takes over from Mr. Adeniyi in the execution of the retail strategy of the Bank, and in his new role he will oversee the growth of both the Personal and Business Banking segments of the Bank. Mr. Osuagwu previously served as Head, Business Banking.
The new appointments officially took effect from Wednesday, July 1, 2020.