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Sterling Bank Limited has announced a strategic change in its Board of Directors, with Mr. Olatunji Mayaki assuming the role of Chairman of the Board, effective January 1, 2024, following the resignation of Mr. Asue Ighodalo, effective today.
The Company Secretary, Temitayo Adegoke, in a statement said: “The resignation of our erstwhile Chairman is in line with the best corporate governance practices as Mr. Ighodalo has offered himself for public service.
“Mr. Mayaki takes on the leadership of the Board to continue the progressive growth and lead the Bank onto even greater success.”
Mayaki is assuming the board’s leadership after serving as a non-executive director. His extensive background spans the practice of Law with the firm formerly known as Ajumogobia, Okeke, Aluko & Oyebode.
He further served as the pioneer Vice President (Legal & Compliance), ARM Limited; Country Head of Legal and Group Company Secretary for all Shell Petroleum companies in Nigeria, and Deputy Managing Director of Addax Petroleum Nigeria.
He sits on the Governing Council of a Nigerian private university, Davidson, and a UK-based NGO and charitable organisation, Chestrad, from where he has championed the establishment of several programmes in Nigeria to support health systems, social development, women and the girl child.
An alumnus of the prestigious University of Ibadan as well as Harvard and INSEAD Business Schools, Mayaki’s background in Law, Finance and Investment and overall career experience further strengthen the Bank’s dedication to strong corporate governance.
In recent times, Sterling Bank has enhanced its focus on innovation and digitization, introducing specialized products such as Specta, The Business Hub, OneBank, Qore, Edubanc, HealthBanc, and Omni X, tailored to the unique needs of the Nigerian market. Furthermore, the bank has forged a partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to develop the real sector of the Nigerian economy with single-digit low-interest loans to SMEs, starting with a N5 billion scheme.
