Jaiz Bank has undertaken a comprehensive overhaul of its board and management structure, aligning with its fresh strategic direction in accordance with two recent directives from the Central Bank of Nigeria.
In a statement released by the bank, the initial directive resulted in the voluntary resignation of two non-executive directors: Umaru Mutallab, the former Chairman of the Board of Directors, and Falalu Bello. Subsequently, a new chairman was appointed to lead the board.
This circular also prompted the recent departure of two additional non-executive directors, namely Ibrahim Maude and Bello Sani, resulting in a reduction of board members to a total of 14.
The bank has revealed that this progression led the board to extend the cascading effect of these changes and restructuring efforts throughout the management echelons and eventually to all staff levels.
Furthermore, during a meeting convened on August 14, 2023, the board acknowledged and accepted the voluntary resignation of Dr. Sirajo Salisu from his role as the MD/CEO. Consequently, Ahmed Hassan was designated as the acting MD/CEO, concurrently holding the positions of executive director for operations and chief financial officer.
This strategic realignment has been initiated with the aim of repositioning the bank to better serve its valued clients and stakeholders. The overarching goal is to fortify profitability, amplify market share, and sustain a robust competitive edge, as articulated in the statement.
