The Board of Directors
The ultimate responsibility for governance rests with the board of directors of the bank, who ensure that appropriate controls, systems and practices are in place.
Directors
Board Structure
The ultimate responsibility for governance rests with the Board of Directors of the Bank, which ensures that appropriate controls, systems and practices are in place. The Bank has a unitary Board structure, and the roles of the Chairman and Chief Executive are separate and distinct. In addition, the Bank’s Chairman, is a Non-Executive Director. The number and stature of Non-Executive Directors ensure sufficient consideration and debate during decision making, which ultimately contributes to the efficient running of the Board.
One of the ways the Board operates is through the Board Committees, which facilitate the discharge of Board responsibilities. The Committees each have a Board approved mandate that is reviewed periodically.
Board Remuneration Policy
The Bank has always had a clear policy on the remuneration of staff, Executive and Non-Executive Directors, which set such remuneration at fair and reasonable levels in a competitive market for the skills, knowledge, and experience required and which complies with all relevant tax laws.
The Board Remuneration Committee (REMCO) assists the Bank’s Board in monitoring the implementation of the Bank’s Remuneration Policy, which ensures that:
- Salary structures and policies, as well as cash and long-term incentives, motivates sustained high performance and are linked to corporate performance objectives.
- Stakeholders can make a reasonable assessment of reward practices and the governance process; and
- The Bank complies with all applicable Laws and Codes.
Membership and Responsibilities of the Board
| S/N | NAME | DESIGNATION |
| 1 | Mr Yinka Sanni | Chairman |
| 2 | Mr. Wole Adeniyi | Chief Executive |
| 3 | Mr Olu Delano | Executive Director, Personal and Pivate Banking |
| 4 | Mrs. Bunmi Dayo-Olagunju | Executive Director, Operations |
| 5 | Mr. Remy Osuagwu | Executive Director, Business and Commercial Banking |
| 6 | Mr. Eric Fajemisin | Executive Director, Corporate and Transactional Banking |
| 7 | Mr. Kolawole Lawal | Executive Director, Risk Management/ Chief Risk Officer |
| 8 | Mr. Simon Ridley | Non–Executive Director |
| 9 | Mrs. Miannaya Essien SAN | Independent Non-Executive Director |
| 10 | Ms. Rabi Isma | Independent Non-Executive Director |
| 11 | Mr Abubakar Sadiq Bello | Independent Non-Executive Director |
| 12 | Mr Helmut Engelbrecht | Non-Executive Director |
| 13 | Funeka Montjane | Non-Executive Director |
Board Committees
Board Audit Commitee
| S/N | NAME | DESIGNATION |
| 1 | Mrs. Miannaya Essien SAN | Chairperson |
| 2 | Mr. Simon Ridley | Member |
| 3 | Mr. Abubakar Sadiq Bello | Member |
| 4 | Mrs. Funeka Montjane | Member |
Board Risk Management Commitee
| S/N | NAME | DESIGNATION |
| 1 | Mr Abubakar Sadiq Bello | Chairman |
| 2 | Mr. Wole Adeniyi | Member |
| 3 | Ms. Rabi Isma | Member |
| 4 | Mrs. Bunmi Dayo-Olagunju | Member |
| 5 | Mr. Kolawole Lawal | Member |
| 6 | Mrs. Miannaya Essien SAN | Member |
| 7 | Mr. Olu Delano | Member |
| 8 | Mr. Simon Ridley | Member |
| 9 | Mr. Helmut Engelbrecht | Member |
Board Credit Committee
| S/N | NAME | DESIGNATION |
| 1 | Mr. Simon Ridley | Chairman |
| 2 | Mr. Wole Adeniyi | Member |
| 3 | Mr. Kolawole Lawal | Member |
| 4 | Mr. Remy Osuagwu | Member |
| 5 | Mr. Eric Fajemisin | Member |
| 6 | Mr. Helmut Engelbrecht | Member |
| 7 | Mrs. Funeka Montjane |
Member |
| 8 | Mr Abubakar Sadiq Bello | Member |
Board Remuneration Committee (REMCO)
| S/N | NAME | DESIGNATION |
| 1 | Ms. Rabi Isma | Chairperson |
| 2 | Mrs. Miannaya Essien SAN | Member |
| 3 | Mr. Helmut Engelbrecht | Member |
Board Nominations and Governance Committee
| S/N | NAME | DESIGNATION |
| 1 | Mrs. Miannaya Essien SAN | Chairperson |
| 2 | Ms. Rabi Isma | Member |
| 3 | Mr. Helmut Engelbrecht | Member |