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Stanbic IBTC Announces Board Shakeup, Expects Fresh Ideas

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Stanbic IBTC Yinka Sanni Euromoney Awards

By Modupe Gbadeyanka

One of the leading financial powerhouses in Nigeria, Stanbic IBTC Holdings Plc, a member of Standard Bank Group, has announced changes to its board of directors.

The company, in a statement on Monday, explained that the move was part of its effort to consolidate on its impressive financial performances and market leadership across the financial services spectrum.

The firm stressed that the appointments are expected to bring fresh thinking and ideas as well as energy into the group’s operations, stating that those chosen cut across the Stanbic IBTC Group, including Stanbic IBTC Bank, Stanbic IBTC Asset Management Limited, Stanbic IBTC Pension Managers Limited, and Stanbic IBTC Insurance Brokers Limited.

According to the statement, Mr Adekunle Adedeji has been promoted to the position of executive director at Stanbic IBTC Holdings Plc with effect from February 22, 2019.

It was disclosed that Mr Adedeji, who has over 20 years’ experience, is also Stanbic IBTC Group’s Chief Financial Officer.

He had a similar experience with Stanbic Ghana and has worked with Ernst & Young, belonging to several professional institutes, including the Institute of Chartered Accountants of Nigeria (ICAN).

Also appointed by the company is Mr Barend Johannes Kruger, who is now a non-executive director for Stanbic IBTC Bank effective from May 20, 2019, following the receipt of all required regulatory approvals.

Mr Kruger had previously been appointed to the board of Stanbic IBTC Holdings Plc in January 2019 and will now serve on both the Holding Company and the bank boards as a non-executive director.

Mr Kruger is a chartered accountant with over 30 years’ experience in the financial services industry.

Another person appointed to the board of the bank, following regulatory approvals, was Ms Rabi Isma as an independent non-executive director, effective from May 9, 2019.

Ms Isma has extensive experience in the telecoms industry with 9Mobile and Etisalat Sri Lanka. She has previous worked for the British Council in Nigeria and served as special adviser to the  governor  of Kano State.

Ms Isma has multiple certifications and has attended several executive programmes, both at the Harvard and Michigan Ross Business Schools, United States of America.

Also appointed is Mrs Bunmi Dayo-Olagunju as an Executive Director in charge of Operations for Stanbic IBTC Bank.

Prior to this, Mrs Dayo-Olagunju was Deputy Head of Operations and also previously served as Chief Executive of Stanbic IBTC Asset Management Limited, the group’s asset management subsidiary.

She has over 20 years of hands-on experience in the financial services industry having worked in different capacities across the subsidiaries of Stanbic IBTC Group.

Similarly, Mr Dele Sotubo replaced Mrs Dayo-Olagunju as Chief Executive of Stanbic IBTC Asset Management Limited effective February 12, 2019; Mr Olumide Oyetan was appointed Executive Director, Investments, Stanbic IBTC Pension Managers Limited with effect from March 1, 2019;  Mr  Charles Emelue was appointed Executive Director, Operations, Stanbic IBTC Pension Managers Limited on April 1, 2019 while Ms Sakeenat Bakare was appointed Executive Director for Stanbic IBTC  Insurance  Brokers  Limited, effective February 26, 2019.

The statement described the appointed persons as highly qualified and experienced to deliver results in their new roles.

Chief Executive of Stanbic IBTC Holdings Plc, Mr Yinka Sanni, while commenting on the appointments,  said, “We are pleased to entrust these individuals with new responsibilities and look forward to benefiting immensely from their wealth of knowledge and experience as we enter the next phase of our growth.

“In filling these roles, we identified our priorities and these individuals fit into our growth objectives.”

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Chemical and Allied Products Appoints Jethro Iruobe as Executive Director

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Jethro Iruobe

By Aduragbemi Omiyale

The chief operating officer of Chemical and Allied Products (CAP) Plc, Mr Jethro Iruobe, has been appointed as an executive director.

A statement from the organisation disclosed that the appointment is effective June 25, 2026.

In his new role, Mr Iruobe will participate in the formulation and execution of the company’s strategic priorities, provide executive leadership across critical functions, and contribute to its continued growth, sustainability and success.

The new board member joined the firm in 2019 as Head of Human Resources before growing to become the COO, with responsibility for Human Resources, Corporate Communications, Administration, Fleet and Commercial Excellence.

He has over 19 years of experience across a range of industries, including financial services, consulting, FMCG and manufacturing, having begun his career in banking before kicking off his HR career at KPMG and going on to hold senior roles at Promasidor Nigeria, Coca-Cola HBC and TGI Nigeria.

Throughout his career, he has supported organisations in building high-performing teams and driving sustainable business growth.

Beyond his corporate responsibilities, he is a columnist with Business Day Newspaper, a trained relationship counsellor and co-author, and a recipient of awards in both the human resources profession and other platforms.

Mr Iruobe holds a Bachelor’s degree in Mathematics and Economics from the University of Benin and a Master of Business Administration (MBA) from the Manchester Business School, United Kingdom. He is a certified Project Management Professional (PMP) and also holds the Global Professional in Human Resources (GPHR) certification awarded by the Human Resource Certification Institute.

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Board Picks Malolan Sampath as Champion Breweries CEO After Adoga’s Exit

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Malolan Sampath

By Aduragbemi Omiyale

Mr Malolan Sampath has been appointed as the new chief executive of Champion Breweries Plc, effective September 1, 2026.

The appointment of a new chief executive was approved by the board of the brewery giant following the resignation of Mr Inalegwu Adoga.

To ensure continuity during the transition pending Mr Sampath’s assumption of office, the board has appointed Mr Rasheed Ademola Adebiyi, Executive Director of Finance, to take charge of the affairs of the organisation.

In a statement, the board said it remains committed to the highest standards of corporate governance and to delivering a seamless leadership transition and sustainable value to shareholders and other stakeholders.

The new Sheriff in town, expected to take over next quarter, was described as an accomplished executive with over 26 years of international leadership experience across the beverage, FMCG, manufacturing and agro-industrial sectors, having built and led businesses up to $500 million in scale.

His beverage and brewing experience includes serving as Managing Director of Unique Beverages in Angola and as Sales & Marketing Director for a PepsiCo bottling franchise, in addition to earlier brewing-sector experience.

Most recently, he held the dual role of Managing Director (NPK Joint Venture) and Chief Marketing Officer at Indorama Eleme Fertilisers in Nigeria and previously served as Chief Executive Officer of Global Industries Limited, a Wilmar International joint venture in Zambia.

He holds a Postgraduate Diploma in Management (MBA) from the Symbiosis Centre for Management & HRD, Pune, and a Bachelor of Business Administration from the University of Chennai.

The board expressed confidence that his expertise in manufacturing excellence, commercial execution and business transformation will support the company’s strategic objectives and long-term growth.

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Julius Berger Appoints Muiz Banire, Chinazo Okoye to Board

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muiz banire

By Aduragbemi Omiyale

Erudite legal practitioner, Mr Muiz Banire (SAN), has been appointed to the board of a construction giant, Julius Berger Nigeria Plc.

He joins the board of the organisation as a non-executive director, with effect from July 1, 2026, alongside Mrs Chinazo Okoye, who is an alternate director to Dr Ernest N. Azudialu-Obiejesi.

A statement from the company secretary, Ms Cecilia Ekanem Madueke, said Mrs Okoye is a graduate of the University of Michigan, Ann Arbor, Michigan, USA, and holds a Bachelor of Science in Mechanical Engineering, Master of Engineering Degree in Mechanical Engineering from the Cornell University, Ithaca, New York, USA, and a Master of Science Degree in Professional Accountancy from the University of London, London, UK.

She is a Chartered Certified Accountant (ACCA) of the Association of Chartered Certified Accountants. She has worked in various positions in various companies and is currently the Managing Director of Amaranta Trading Limited.

As for Mr Banire, he is a graduate of the University of Lagos and holds a Master of Laws Degree as well as a Doctor of Philosophy Degree from the same university.

He was called to the Nigerian Bar in 1989. He also holds a Master Certificate in the Arbitration Master Course from the Lagos Court of Arbitration Training Institute. He was admitted to the Inner Bar and conferred with the rank of Senior Advocate of Nigeria (SAN). He is a Member of the International Bar Association, the Institute of Chartered Secretaries and Administrators, an Associate Member of the Chartered Institute of Arbitrators, a Fellow of the Institute of Transport Administration of Nigeria, and the Nigerian Institute of Management. He is registered with the Law Society of England.

He had served in various capacities in the Legal profession, academic community and publicly. He was conferred with the National Honour of the Officer of the Order of the Niger (OON).

He is the Founder and Principal Partner, M. A. Banire & Associates, Member of the Board of Trustees, Fountain University, Osogbo, Osun State, and Pro-Chancellor of the University of Uyo, Akwa Ibom State.

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