TheCable

The Central Bank of Nigeria (CBN) has appointed Tokunbo Abiru, former commissioner of finance in Lagos state, as the new chief executive officer (CEO) and managing director (MD) of Skye Bank.

This was done, following the resignation of Timothy Oguntayo and the dissolution of the top management of the eighth biggest lender in the Nigerian banking sector.

Abiru was Lagos commissioner of finance (2011- 2013) under the leadership of Babatunde Fashola, the current minister of power, works and housing.

“The CBN has approved the appointment of Alhaji M.K Ahmad as the new Chairman of the Board, while Mr. Tokunbo Abiru has been appointed as the new Group Managing Director and CEO,” Skye Bank said in a statement.

“Messrs. Bayo Sanni, Idris Yakubu, Markie Idowu and Abimbola Izu will continue in office as Executive Directors of the Bank. The former leadership of the Bank voluntarily resigned their positions in order to pave the way for a new team to further the new strategic direction of the Bank in the retail and commercial business space, having laid the foundations and set the necessary processes and structures.”

Ahmad is said to have about 35 years experience leading and working in various public sector organizations and financial services institutions in Nigeria.

He was pioneer director-general and chief executive officer of the National Pension Commission and oversaw the establishment and growth of the pension industry in Nigeria with over N5 trillion in assets to become a major contributor to Nigeria’s GDP.

Ahmad was a pioneer staff of the Nigeria Deposit Insurance Corporation (NDIC), where he rose to become director and member of the Interim Management Board.

The Oxford University graduate was a director on the board of First Bank of Nigeria Holdings PLC.

Abiru, on the other hand, is an alumnus of Harvard Business School (Advanced Management Program) and Lagos Business School (Senior Management Program).

He holds a B.Sc (Economics) from Lagos state university and is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an honorary senior member of the Chartered Institute of Bankers of Nigeria (CIBN).

Abiru cut his banking teeth at Guaranty Trust Bank and First Bank of Nigeria, spending about 14 years with the latter, and rising to become the executive director, corporate banking, from 2013 to 2016.

In all, 12 directors resigned their appointment at Skye Bank.