Sterling Bank announces changes in its board

Sterling Bank Plc recently appoints three new directors to strengthen its board, it was reported that the appointments have been approved by the Central Bank of Nigeria (CBN).

The new directors are Messrs Tunde Adeola, Raheem Owodeyi and Subbaramaiah Rajapur.

About Messrs Tunde Adeola

A seasoned professional with over 29 years’ experience in the financial services industry, Adeola started his career with Liberty Merchant Bank Limited, before joining Kakawa Discount House as a pioneer staff. He later moved to Trust Bank where he distinguished himself and rose to through the rank to the grade of Deputy General Manager.

Adeola was Divisional Head, Commercial Banking while Owodeyi was the bank’s Chief Operating Officer.

Following the consolidation exercise and the emergence of Sterling Bank in 2006, he was appointed Head, Telecoms and Corporate Banking Group and was later assigned to head the business of 33 branches in Lagos as the Regional Business Executive. He was promoted to General Manager grade in May 2013 and was appointed Business Executive, Commercial & Institutional Banking, Ikeja & Beyond in March 2015.

He holds a B.A. English (1988) from the Lagos State University and a LL.B Law (1999) from the University of Lagos. He is an Honorary Member, Chartered Institute of Bankers of Nigeria (HCIB) and has attended several Executive Programmes from top management universities such as the Wharton School, University of Pennsylvania.

About Raheem Owodeyi

Owodeyi, the bank’s Chief Operating Officer, until his appointment as Executive Director, is a skilled expert with over 28 years’ experience in the Financial Services Industry.

Previously, he had served as the Chief Compliance Officer of the bank. Prior to joining Sterling Bank, Owodeyi was a General Manager and Chief Inspector at Aso Savings and Loans Plc and had previously served as a Deputy General Manager and Head of Compliance & Internal Controls (International) with Access Bank Plc.

He had at various times worked in BDO Stoy Hayward LLP, United Kingdom; Triumph Bank Plc and Citigroup, Nigeria with a track record of excellent performance.

​Owodeyi holds a Bachelor of Science degree in Economics (First Class) from Obafemi Awolowo University. He is a senior member of the Chartered Institute of Bankers of Nigeria (CIBN), a member of the Institute of Internal Auditors and a fellow of the Compliance Institute, Nigeria. He is also an alumnus of the Wharton School, Pennsylvania.

About Subbaramaiah Rajapur

Rajapur is presently the General Manager, Retail & Subsidiaries (R & S) at State Bank of India (SBI). He joined SBI in 1985 as a Probationary Officer. He rose through the ranks and was elevated to the position of General Manager, Retail & Subsidiaries, in May 2018.

​He holds a Bachelor of Science degree and he is a Certified Associate of the Indian Institute of Bankers (CAIIB). Rajapur was appointed a non-executive director to the board of Sterling Bank Plc in April 2019 as a replacement for Mr. Sujit Varma.