Stanbic IBTC Appoints New Female Director, Ndidi Nwuneli As CBN New Rule Continue To Bring Changes

• Ndidi Nwuneli has been appointed as an Independent Non-Executive Director at Stanbic IBTC
• The appointments follow the departure of Ngozi Edozien in compliance with the CBN's new rules
• CBN recently set a 20-year cumulative tenure limit for directors in the Nigerian banking industry

Stanbic IBTC has announced the appointment of Mrs. Ndidi Nwuneli as the new Independent Non-Executive Director following the receipt of all required regulatory approvals.

She will replace Ms. Ngozi Edozien, who retires from the Board of the Company following the completion of her regulatory prescribed tenure in compliance with the CBN's new circular dated February 24, 2023.

The financial institution announced the changes in a notice to the Nigerian Exchange Limited obtained by Legit.ng.

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All to know about Stanbic IBTC's new director

According to the bank, Nwuneli is an expert in social innovation, agriculture, nutrition, and youth development, with over 25 years of international development experience, and is a recognized serial entrepreneur, author, public speaker, and consultant.

She was the pioneer Executive Director of the FATE Foundation, supporting young entrepreneurs to start and scale their businesses.

In 2002, she established LEAP Africa to inspire, empower, and equip a new cadre of principled, disciplined, and dynamic young leaders in Africa.

Nwuneli holds a Master of Business Administration (MBA) from the Harvard Business School as well as an undergraduate degree in Economics with honors from the Wharton School of the University of Pennsylvania.

She was a Senior Fellow at the Mossavar-Rahmani Center for Business & Government at the Harvard Kennedy School and an Aspen Institute New Voices Fellow.

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CBN new rules

In the last few weeks, several top directors have left their positions in compliance with CBN's new tenure limits.

For example, the Board of Directors of banks is expected to be subject to a limit on officials' maximum tenure of 10 years, while Executives shall not exceed 12 years."

First Bank, Unity Bank, and Zenith Bank are some of the financial institutions that have waved goodbye to their top directors due to the new tenure limit.

Ecobank new CEO resumes office

In a similar report, Jeremy Awori has assumed his role as the new CEO of Ecobank Transnational Incorporated (ETI)

Awori, who brings over 25 years of experience in the banking industry, is excited to lead the bank's next phase of growth in Africa.

Ecobank is a leading pan-African bank in over 30 countries across the continent.

Source: Legit.ng