Keystone Bank Transitional Board Takes Over April 1

By Modupe Gbadeyanka

Members of the transitional board of Keystone Bank are set to take over from April 1, 2017, the lender has disclosed in a statement issued on Tuesday.

This followed the sale of the financial institution to new local investors called the Sigma Golf-Riverbank Consortium.

Keystone Bank was sold to the consortium by the Asset Management Corporation of Nigeria (AMCON).

In the statement, the bank noted that the transitional governance arrangement is subject to approval by the Central Bank of Nigeria (CBN).

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

Members of the transitional board include Mr Umaru H. Modibbo (Chairman); Mr Hafiz Bakare (Acting Managing Director/CEO); Mrs Yvonne Isichei (Executive Director); Mrs Titilayo Adebiyi (Non-Executive Director); and Mr Bulus Bunken Dan-Habu (Non-Executive Director).