SunTrust Bank appoints chairman, directors

The Board of Directors of SunTrust Bank Nigeria Limited has elected Mr. Olanrewaju Shittu as Chairman of the board to replace Mr. JIbril Aku.

This decision was made at its meeting held on Thursday, it said in a statement. The board also approved the appointment of Mr. Mohammed Datti Yola as a Non-Executive Director, subject to approval by the Central Bank of Nigeria (CBN).

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Shittu was a former Director at Central Bank of Nigeria, while Datti is a retired General Manager at the National Pension Commission (PenCom).

SunTrustbank was licensed on September 15, 2015 as the first new commercial bank license given by the Central Bank in 15 years and its journey as a bank began in 2009. It commenced business on August 1, 2016.

The new Chairman, Shittu retired in 2018; he holds MBA degree, a Fellow (FCA) Institute of Chartered Accountants of Nigeria (ICAN), Associate (ACA) Institute of Chartered Accountants of Nigeria (ICAN) and an Associate (ACTI) Chartered Institute of Taxation, Nigeria.

“Over 90 per cent of banking transactions are being done electronically worldwide. We are a financial technology bank that will bring banking to your home rather than make you come to us.

“We will be everywhere but we will be nowhere; we will have the minimum branches required to operate as a bank but we will drive financial services through technology,” Shittu said.