Keystone Bank MD/CEO resigns as Abubakar Danlami Sule becomes acting MD

As the financial market was still celebrating the reduction of Monetary policy rate (MPC) from 14 per cent where the Central Bank of Nigeria (CBN) has anchored it for two years and six quarters, a surprising information filtered in on Saturday announcing the resignation of the Managing Director / Chief Executive Officer of Keystone Bank, Mr Obeahen Ohiwerei.

 The bank approved the appointment of Mr. Abubakar Danlami Sule as Acting Managing Director/CEO. Mr. Sule’s appointment is subject to approval by the Central Bank of Nigeria.

While the financial industry is yet to fathom the truth as Business Hallmark could not reach the bank over the weekend, the statement signed by Dr. Michael Agamah,

General Counsel & Company Secretary of the bank and dated March 30, 2019

  disclosed that Mr. Ohiwerei is leaving to pursue other personal interests. The statement added that the Board recognized and appreciated Mr. Obeahon’s immense contributions to the growth of Keystone Bank and the visibility the Bank had attained as a brand in the past eighteen months.

Mr Sule is a graduate of Ahmadu Bello University, Zaria with degree in Accounting. He is a Fellow of the Institute of Chartered Accountants of Nigeria; an Honourary Member of the Chartered Institute of Bankers of Nigeria; a Governing Member of the Chartered Institute of Bankers of Nigeria; and an Alumni of both the INSEAD (France) and Wharton Business School in Pennsylvania, USA. He was until his appointment as Acting MD/CEO, the Deputy Managing Director of Keystone Bank Limited.

Mr. Sule has over 29 years of cutting-edge banking experience with competences in Corporate Banking, Operations, Treasury Management, Credit Structuring, Corporate Planning, as well as possession of very strong relationship management skills.

Mr. Sule had also served briefly as the Managing Director of Sterling Capital Limited, the Investment Banking Subsidiary of Sterling Bank Plc in 2009. While at Sterling Capital Limited, he was appointed by the CBN as part of the Executive Management team to turnaround the fortunes of erstwhile Intercontinental Bank Plc. He eventually returned to Sterling Bank Plc as Executive Director in charge of the North and Corporate Banking. He also worked briefly in Standard Chartered Bank Limited before he joined Keystone Bank. 

The Board of Keystone Bank has enjoined Management and Staff of Keystone Bank to join hands with the Acting MD/CEO to build Keystone Bank into a brand that all its stakeholders will be proud of.

Keystone Bank was taken over by AMCON in 2011 and was managed by the AMCON appointed Board and Management that stabilized the bank over the years.

 The emergence of the Sigma Golf-Riverbank consortium was expected to bring a new life in the bank with the expected injection of fresh capital that would position the bank to play competitively in the banking industry and actualize its full potentials.