Sterling Bank appoints Mayaki to replace Ighodalo as new board chairman

Sterling Bank Limited has announced a 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 December 31, 2023.

A statement released by the Company Secretary, Temitayo Adegoke, 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.”

Mayaki assumes 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.

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He further served as the pioneer Vice President Legal & Compliance of 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 is an alumnus of the University of Ibadan, as well as Harvard and INSEAD business schools.

The previous board chairman, Ighodalo has joined the race for the governorship seat of Edo State under the platform of the Peoples Democratic Party (PDP).

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