Sterling Financial Holdings Company Plc has announced significant leadership changes on the board of its primary subsidiary, Sterling Bank Ltd, following formal approval from the Central Bank of Nigeria (CBN).
The announcements include high-profile independent appointments alongside the graceful retirement of several longstanding directors.
Mr. Laoye Jaiyeola has been appointed as an Independent Non-Executive Director effective August 17, 2026. A seasoned board leader and policy strategist, Mr. Jaiyeola brings over thirty-five years of experience across financial services, public policy, and corporate governance. His distinguished career includes serving as the Managing Director and CEO of Kakawa Discount House Limited, nearly two decades with the Central Bank of Nigeria, President of the Chartered Institute of Bankers of Nigeria (CIBN), and CEO of the Nigerian Economic Summit Group (NESG). He currently holds a B.Sc. in Economics from Obafemi Awolowo University, a Master’s degree in Banking and Finance from the University of Lagos, an MBA from Bangor University, and is a Senior Executive Fellow of the Harvard Kennedy School.
Joining him on the board is Mr. Chinedu Ikwudinma, who assumed office as an Independent Non-Executive Director on August 20, 2026. Mr. Ikwudinma boasts over three decades of international banking and financial expertise spanning risk management, corporate governance, and investment banking across global and African markets. His extensive career features executive roles at Citibank across multiple countries, serving as the pioneer Managing Director of Nova Merchant Bank Limited, and most recently functioning as the Group Chief Risk Officer of Ecobank Transnational Incorporated. He holds a Bachelor of Engineering in Civil Engineering and an M.Sc. in Structural Engineering from the University of Nigeria, Nsukka, alongside an MBA in Finance from the University of Lagos.
Alongside these appointments, Sterling Financial Holdings Company announced the retirement of key board members upon the expiration of their respective tenures: Mr. Michael Ajukwu and Mrs. Olusola Oworu, both Independent Non-Executive Directors, and Mr. Olaitan Kajero, a Non-Executive Director. Additionally, Mr. Tunde Adeola has retired as an Executive Director of the bank upon reaching the prescribed retirement age.
In a statement signed by Company Secretary Sunny Kanabe, the board expressed its profound appreciation to the retiring directors for their dedication, leadership, and invaluable contributions to the financial institution’s growth and ongoing success.