Sterling Bank Limited has undergone a significant leadership transition with the appointment of Mr. Olatunji Mayaki as the new Chairman of the Board, effective January 1, 2024, succeeding Mr. Asue Ighodalo, who resigned from his position on December 31, 2023.
The Company Secretary, Temitayo Adegoke, in a statement, highlighted that Mr. Ighodalo’s resignation was in alignment with corporate governance best practices, as he expressed his intention to pursue public service endeavors.
Adegoke emphasized the seamless handover to Mr. Mayaki, underscoring his role in steering the Bank toward continued growth and success. Mayaki, previously a non-executive director, brings a wealth of experience from various sectors, including a prominent legal career at Ajumogobia, Okeke, Aluko & Oyebode, as well as leadership roles at ARM Limited and Shell Petroleum companies in Nigeria.
His diverse background extends to serving as Deputy Managing Director at Addax Petroleum Nigeria, along with his involvement in the governance of Davidson University in Nigeria and the UK-based NGO Chestrad. Mayaki’s active engagement in establishing numerous programs to support health systems, social development, and the empowerment of women and the girl child underscores his commitment to social causes.
A distinguished alumnus of the University of Ibadan, with additional qualifications from Harvard and INSEAD business schools, Mayaki’s multidisciplinary expertise in Law, Finance, and Investment aligns with Sterling Bank’s commitment to robust corporate governance.
Amidst its leadership transition, Sterling Bank continues to emphasize innovation and digitization, introducing specialized products like Specta, The Business Hub, OneBank, Qore, Edubanc, HealthBanc, and Omni X, tailored to meet Nigeria’s unique market needs. Moreover, the Bank’s collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to offer low-interest loans to SMEs, starting with a N5 billion scheme, further demonstrates its commitment to developing Nigeria’s real sector.
Renowned for its HEART of Sterling strategy, concentrating on investments in Health, Education, Agriculture, Renewable Energy, and Transportation, the Bank’s consistent growth and recognition, including its placement in the Financial Times’ top 100 fastest growing companies in Africa in 2023, exemplify its commitment to driving positive change.
Sterling Bank’s commitment to fostering a conducive work environment is evidenced by its consistent recognition by the Great Place To Work Institute over the past five years, culminating in being named the Overall Best Place To Work In Nigeria earlier this year.