FOLLOWING its sale to new investors, Keystone Bank has appointed Umaru Modibbo, as chairman, and Hafiz Bakare, as acting managing director/chief executive officer, of the bank. The bank also announced the appointments of Yvonne Isichei, as executive director, Titilayo Tairat Adebiyi and Bulus Bunken Dan-Habu, as non-executive directors.

A statement from Omobolanle Osotule, head, Corporate Communications of the bank, said the new board is a transitional governance arrangement, which follows: the successful conclusion of the divestment of Keystone Bank Limited by the Asset Management Corporation of Nigeria, AMCON, which culminated in the completion meeting of March 23, 2017, and the formal handover of the bank to the Sigma Golf-Riverbank Consortium.

“The transitional governance arrangement, which will take effect from the 1st of April 2017, is subject to approval by the Central Bank of Nigeria. By the 31st of March 2017, the current board of the bank (including the MD/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. A 1983 graduate of Business Administration from the Ahmadu Bello University, Zaria, Modibbo qualified as a Chartered Stockbroker in 1991 and was elected to the Council of The Nigerian Stock Exchange from 1993 to 1996.

He is currently a member of the Investors Protection Fund, IPF, of the Nigerian Stock Exchange. He founded Sigma Pensions Limited, and served as its managing director/Chief Executive from February, 1 2011 to October 31, 2016.

— Apr 10, 2017 @ 01:00 GMT

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