Nigeria: Sterling Bank Appoints Two New Directors

26 July 2018

Sterling Bank Plc has announced the appointments of Mrs. Folasade Kilaso and Mr. Michael Ajukwu to its Board of Directors.

According to a statement by the bank, Kilaso was appointed to the board as a non-executive director, while Ajukwu joined as an independent director in June, following the approval of the Central Bank of Nigeria (CBN).

Welcoming the senior business leaders, Chairman, Board of Directors, Sterling Bank Plc, Asue Ighodalo, said: " Ajukwu and Kilaso are respected business leaders with proven track record of performance and a very welcome addition to our board. They bring with them invaluable experience, expertise and passion that will help the business deliver on its vision and commercial goals. I look forward to working with them at this exciting time as Sterling Bank breaks new grounds."

A solicitor of the Supreme Court of England and Wales, Kilaso, is a subject matter expert in the areas of corporate and regulatory affairs in sectors that include banking, asset management, energy, real estate, insurance, immigration and risk management. She has delivered on cross-border transactions for both local and international clients.

Currently serving as Principal Partner, Berkeley Legal and Managing Director of Berkeley Training and Recruitment Services Limited, Kilaso is a qualified solicitor in the United Kingdom (UK) and in Nigeria. She studied Law at the University of Kent, Canterbury, and holds an Masters degree in law from the University of Cambridge, specialising in International Corporate Law and Finance.

Prior to setting up the Berkeley Group in 2014, Kilaso was Executive Director, Standard Chartered Bank Nigeria. She has served on the board/committee of various institutions such as the Financial Institutions Training Centre (FITC), Nigeria Inter Bank Settlement Systems (NIBSS), Chartered Institute of Bankers Nigeria (CIBN) and Central Bank of Nigeria (CBN) - Sub Committee for Women Economic Empowerment.

On his part, Ajukwu holds a B.Sc. in Finance from the University of Lagos and an MBA in Accounting and Finance from New York University. He worked for 21 years in the banking industry before retiring in 2002 as an executive board member of United Bank for Africa.

He is currently a non-executive director on the boards of Intafact Beverages Limited, Nigerian subsidiary of SABMiller in Nigeria; Mobax Nigeria Limited, a South African company and Novotel, a member of ACCOR (a French Hotel Group) and also an Independent Director on the board of Tiger Brands SA.

Ajukwu brings extensive business experience in Africa and Nigeria to the Board of Sterling Bank.

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