Sterling Bank Plc has announced the appointment of Laoye Jaiyeola and Chinedu Ikwudinma as Non-Executive Directors to its Board of Directors following required regulatory approvals.
Sterling Financial Holdings Company Plc has announced the appointment of two independent non-executive directors, Mr. Laoye Jaiyeola and Mr. Chinedu Ikwudinma, to the board of its flagship banking subsidiary, Sterling Bank Ltd.
The appointments were formally disclosed in a regulatory filing with the Nigerian Exchange (NGX) signed by Company Secretary Sunny Kanabe, following approval from the Central Bank of Nigeria (CBN).
The new appointments came as Jaiyeola took office on August 17, 2026 and Ikwudinma joined on August 20, 2026 alongside the retirement of outgoing board members who completed their respective tenures.
Mr. Laoye Jaiyeola joins the board with over 35 years of senior executive experience across financial services, corporate governance and public policy formulation in Nigeria.
He previously served as the Chief Executive Officer of the Nigerian Economic Summit Group (NESG), President of the Chartered Institute of Bankers of Nigeria (CIBN) and Managing Director of Kakawa Discount House Limited (now Quest Merchant Bank). He also spent nearly two decades at the Central Bank of Nigeria in various regulatory roles.
He is currently the Founder and Pro-Chancellor of Hillside University of Science and Technology (HUST) and holds board positions at FMDQ Group Plc, the NESG Advisory Board and the Policy Innovation Centre. Academic credentials include degrees from Obafemi Awolowo University, the University of Lagos, and Bangor University along with executive certifications from Harvard Kennedy School.
Mr. Chinedu Ikwudinma brings more than 30 years of international banking experience to the board, specializing in corporate and investment banking, credit management, transaction banking and enterprise risk controls across African and global markets.
His career includes serving as the Group Chief Risk Officer and Group Chief Credit Officer at Ecobank Transnational Incorporated, where he managed group-wide internal controls and asset quality.
Prior to Ecobank, Mr. Ikwudinma spent over two decades with Citibank, serving as Managing Director and CEO of Citibank Uganda, Executive Director and Country Risk Manager for Citibank Nigeria and holding senior leadership roles across Zambia.
He was also the pioneer Managing Director of Nova Merchant Bank Limited and currently chairs CS&C Associates Limited. He holds degrees in Civil Engineering and Structural Engineering, a MBA in Finance from the University of Lagos and a Diploma in French from Alliance Française.
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The addition of two seasoned independent directors highlights Sterling Financial Holdings’ commitment to international corporate governance standards.
The appointments coincide with Sterling HoldCo securing shareholder approval to execute a $400 million capital raise to fortify its balance sheet and support regional growth. By onboarding leaders with deep experience in regulatory compliance, risk management and macroeconomic policy, Sterling Bank aims to strengthen its corporate governance structure, accelerate digital transformation initiatives, and support ongoing business expansion.
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