Banking
Brandishing Stanbic IBTC’s Impressive Gender Equity Scorecard
Recently, Stanbic IBTC Holdings Plc announced the promotions of several of its women to top executive roles across the Stanbic IBTC Group.
These included the promotions of Wunmi Ehis-Uzenabor as Executive Director, Operations, Stanbic IBTC Asset Management; Busola Jejelowo as Executive Director, Investments, Stanbic IBTC Asset Management; Emi Agaba-Oloja, Executive Director, Stanbic IBTC Trustees; and Sakeenat Bakare, Executive Director, Business Development, Stanbic IBTC Insurance.
These promotions, which were in line with Stanbic IBTC’s corporate governance structure and succession policy, further showcased the financial institution’s posture as an equal opportunity organisation.
Both male and female employees are privileged to rise as far as their skills, talents, and dedication permit them.
Stanbic IBTC has always been forward-looking in terms of its recruitment and succession policies, having held the belief that females are as talented as their male counterparts and can contribute immensely to businesses and the society’s growth if given equal opportunity. The belief was underscored at the commencement of operations by Stanbic IBTC many decades ago.
Over 30 years ago, when Atedo Peterside conceived the idea to establish an investment bank, one that would be matched as the best in the industry, and transform the investment and corporate banking landscape in years to come, he realised the importance of engaging the best hands and minds.
He set to work to achieve that and opted for a gender-balanced workforce as he employed as many females as males in senior management roles.
Sola David-Borha was appointed Head, Credit and Marketing Department; Oluwande Muoyo was appointed head of the Treasury and Financial Services Department; and Angela Omo-Dare became the Company Secretary and Head, Legal Services of legacy IBTC.
These appointments were against the grain. At that time, the financial services industry, particularly the investment and corporate banking sector was male-dominated, with C-suite and D-level executives being mostly men.
Atedo was, however, determined to redefine the industry, and he knew that only the best would help him achieve his objectives, irrespective of gender.
Thus, he built a reliable team consisting of both male and female players. The tradition was established at the commencement of the business to give both genders equal opportunity in recruitment, on-the-job training, human capital development, promotions, and remuneration.
His foresight was handsomely rewarded. In five short years, legacy IBTC had become the leading investment and corporate banking company in the country and successfully displaced industry giants in merchant banking of that era.
More than 30 years later, and having gone through a series of transformations, including mergers and becoming a holding company, Stanbic IBTC still maintained that equal opportunity legacy.
Employees of the organisation are exposed to quality and regular training to update their knowledge and skills, starting from its graduate training academy. New intakes are exposed to the institution’s work ethics, core values and executive training programmes here in Nigeria and overseas.
Sola David-Borha rose through the ranks to become the Chief Executive of the bank and later of the Holding Company before moving on to a higher role with the mother brand, Standard Bank Group.
Yewande Sadiku rose to become Chief Executive of Stanbic IBTC Capital, the group’s investment banking arm and later Executive Director, overseeing Corporate and Investment Banking at Stanbic IBTC Bank PLC before she took up a government appointment.
Bunmi Dayo-Olagunju was also Chief Executive of Stanbic IBTC Asset Management before becoming the Executive Director, Operations of the bank.
Other top females in the group included the Chief Executive of Stanbic IBTC Stockbrokers, Titi Ogungbesan; an Executive Director with the pension subsidiary, Nike Bajomo; Oyinda Akinyemi and Olusola Carrena as Executive Directors in Stanbic IBTC Capital, among others.
Today, the Stanbic IBTC workforce is highly symbolic, with 57 per cent men and 43 per cent women.
This legacy has continued to help the business attract and retain the very best. The benefits have been immense in terms of growth as staff show a rare dedication to duty and a hunger to help transform the Stanbic IBTC brand into the leading end-to-end financial services institution in the country.
The commitment has consistently been reflected in the Group’s market share across the gamut of the financial services industry and the institutions’ bottom line.
Over 30 years later, Stanbic IBTC had remained at the forefront of gender equality and inclusion, as shown by its employment and succession legacy. But more importantly, it continued to demonstrate its belief in a gender-balanced representation in all areas of society through women-focused initiatives. In 2020, for instance, it temporarily changed its logo colour from blue to magenta to celebrate the UN Women HeForShe brand.
Stanbic IBTC has created an environment where women feel appreciated and are rewarded accordingly. “For us, achieving gender inclusiveness is not only a fundamental human right but also a business imperative,” said Sogunle.
By Adedapo Adesanya
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, has urged banks to remain vigilant and take proactive measures against emerging risks following the conclusion of the banking sector recapitalisation exercise.
He made the call while announcing the outcome of the Monetary Policy Committee (MPC) meeting, where the Monetary Policy Rate (MPR) was retained at 26.5 per cent amid sustained inflationary pressures and global economic uncertainties.
According to him, the MPC welcomed the successful recapitalisation exercise, which resulted in the emergence of 33 stronger banks with improved financial soundness indicators and greater capacity to support economic growth.
However, he warned that the strengthening of balance sheets must be matched with strong risk management frameworks to safeguard financial system stability.
“The MPC also noted with satisfaction the successful conclusion of the banking recapitalisation exercise, which culminated in the emergence of 33 banks with stronger financial soundness indicators enhancing their capacity to support the economy,” Mr Cardoso said.
The central banker added that the committee “urged the banks to remain proactive and adopt necessary measures to address potential post-recapitalisation risks towards preserving financial system stability.”
Mr Cardoso said the decisions were based on a “comprehensive assessment of risks to the outlook,” noting that despite marginal increases in inflation, the broader macroeconomic environment remained stable.
“Although inflation has risen marginally for two consecutive months, largely induced by external shocks, the committee recognises its transitory nature and remains confident that the current macroeconomic environment is sufficiently robust to support a return to disinflation,” he stated.
The committee also highlighted spillover effects from the Middle East crisis, which have pushed up global energy and logistics costs. However, it said the impact on Nigeria had been muted due to earlier policy reforms.
“These include exchange rate stability, improvements in external reserve buffers, strengthened monetary policy transmission, a well-capitalised banking system and ongoing fiscal consolidation, which have significantly bolstered the economy’s ability to absorb external shocks,” Mr Cardoso explained.
He further said the committee noted that a cautious and vigilant policy stance remains necessary to anchor inflation expectations and maintain macroeconomic stability.
“The committee was therefore convinced that the essential conditions for price stability remain firmly in place,” Mr Cardoso said, adding that policymakers will continue to monitor both domestic and global developments closely.
By Modupe Gbadeyanka
Over 1,500 residents in Surulere, Lagos State, have received food packs from Fidelity Bank Plc under its Fidelity Food Bank initiative.
The items were distributed to beneficiaries in partnership with the Office of the Personal Assistant to the President on Constituency Affairs and the Sodiq Abiodun Ogundare (SAO) Foundation.
The financial institution developed the scheme to reinforce its commitment to community welfare and sustainable development.
The Regional Bank Head for Victoria Island/Lekki at Fidelity Bank, Mr Nnamdi Edekobi, described the initiative as a reflection of the lender’s unwavering dedication to improving the well-being of its host communities.
“Today goes beyond the distribution of food items; it is about uplifting lives, creating opportunities, and strengthening our commitment to the well-being of families in this community.” Mr Edekobi, represented by the Branch Leader for Adeola Odeku Branch, Ms Ifeyinwa Asomugha, stated.
He disclosed that since its inception, the initiative has distributed more than 150,000 food packs across Nigeria’s six geopolitical zones, positively impacting hundreds of communities nationwide.
“Today’s outreach has provided over 1,500 beneficiaries with essential feeding supplies that will help address hunger, support healthy living, and improve the overall well-being of families. This initiative also aligns with the United Nations Sustainable Development Goal 2, which focuses on achieving Zero Hunger,” he added.
Mr Edekobi further commended the Personal Assistant to the President on Constituency Affairs, Ms Khadijat Kareem Omotayo, for supporting the initiative and fostering impactful partnerships that benefit underserved communities.
On her part, Ms Omotayo praised Fidelity Bank and the SAO Foundation for bringing meaningful support to residents of Surulere.
“I am very happy that the foundation is growing. Fidelity Bank are our people, and I appreciate this collaboration that has brought this massive opportunity to our people in Surulere Constituency 1,” she stated.
She expressed optimism about sustaining future partnerships with the bank to continue improving the lives and livelihoods of Nigerians.
By Aduragbemi Omiyale
Children and teens interested in participating in becoming the chief executive of Wema Bank for one day have till Wednesday, May 20, 2026, to submit their entries.
The One-Day MD/CEO initiative was introduced by Wema Bank in 2025 to commemorate Children’s Day in a uniquely unprecedented manner.
The winner of the maiden edition was a 12-year-old Chiderije Mbah, inspiring children across the country to put in the work towards a successful future.
Inspired by the bank’s 80th anniversary theme, 80 Years of Impact, A Future of Possibilities, the Wema Bank One-Day MD/CEO initiative served as a bridge between past and future, giving children across Nigeria the once-in-a-lifetime opportunity to become the MD/CEO of Wema Bank for one day—Children’s Day.
For the 2026 Children’s Day celebration, Wema Bank will give another child or teenager [ages 0-16] a chance to step into the shoes of the chief executive of the bank, Mr Moruf Oseni, for a day.
The child will get to oversee board meetings, make tactical decisions, and experience firsthand the demands and responsibilities that come with the office of MD/CEO, especially for an institution like Wema Bank, Nigeria’s oldest indigenous national bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT.
To participate, children/teens are expected to record a 60-second video detailing what their ideal role in banking would be and what they hope to achieve. This video is to be posted on any social media platform using #EvolutionOfPossibilities and tagging @wemabank on the post. The post with the highest number of likes emerges as the winner, and the winner gets to become MD/CEO of Wema Bank on Monday, May 25, 2026, in celebration of Children’s Day, with parents and teens encouraged to hurry and make their submissions before the deadline.
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