The board of directors of Stanbic IBTC Holdings Plc has announced the election of Mr Basil Omiyi as chairman of the board.
The election, which, according to the bank, follows the receipt of all required regulatory approvals, became effective on 15 May 2017.
Omiyi was elected in place of Mr Atedo Peterside who resigned as chairman of the board on March 31, 2017.
Omiyi joined the board as a non-executive director in March 2015.
The new Stanbic IBTC chairman, who is a former Managing Director as well as a former Country Chairman of Shell Petroleum Development Company of Nigeria Limited, is currently an independent non-executive director on the board of Seplat Petroleum Development Company Plc.
He is also the Chairman of Greenacres Energy Limited, the Nigerian Upstream Industry Group and the Oil and Gas Commission of the Nigerian Economic Summit Group (NESG).
Omiyi is a member of the board of the Nigerian Business Group of New Partnership for Africa’s Development (NEPAD) and Nigerian Extractive Industry Transparency Initiative (NEITI).