Keystone Bank constitute transition board

Following the successful conclusion of the divestment of Keystone Bank Limited (the Bank) by the Asset Management Corporation of Nigeria (AMCON), which culminated in the Completion Meeting of 23 March 2017; and the formal handover of the Bank to the Sigma Golf-Riverbank Consortium (the Consortium), the bank has constituted transition board.

The new board include Umaru H. Modibbo​​-​Board Chairman, Hafiz Bakare​​​-​Acting Managing Director/CEO, Yvonne Isichei​​​-​Executive Director, Titilayo Tairat Adebiyi​​-​Non-Executive Director, and Bulus Bunken Dan-Habu​-​Non-Executive Director.

The transitional governance arrangement which will take effect from the April 1, 2017 is subject to approval by the Central Bank of Nigeria.

By March 31, 2017, the current Board of the Bank (including the managing director/CEO, Philip Ikeazor) would have fully disengaged, except for Bakare and Isichei, who will continue as part of the transitional governance board.

Modibbo started his working career as a Commercial Officer in the then Gongola State Civil Service, and would later join the Gongola State Investment Company Limited where he rose to the rank of Senior Investment Executive.

Hafiz Bakare is currently the Executive Director, Corporate Bank and Treasury at Keystone Bank Limited also overseeing the Lagos and West Directorate. Before his appointment to the Board of Keystone Bank in July 2014, he was running a management consulting and capacity development firm he founded with the objective of assisting organizations across different sectors to deliver sustainable value in an increasingly challenging and dynamic environment.