Sun Trust Bank secures CBN’s regional licence
Having met the very stringent conditions set by the Central Bank of Nigeria (CBN), I am excited to announce that The Central Bank of Nigeria (CBN) has granted its final approval to SunTrust Bank Nigeria Limited to operate as a commercial bank with regional authorisation, on September 17, one year and two months after application.
The licence issuance was the first fresh mandate to be made by CBN since 2001.
The Managing Director and Chief Executive Officer of the bank, Muhammad Jibrin Barde said the financial institution’s “journey as a bank since 2009 details the courageous decisions and heroic self-sacrifice of all the people that made SunTrust assent possible.
“In the years to come, the developments at SunTrust should have far-reaching influence in the banking sector specifically and our nation generally.”
SunTrust Bank will be formally presented to the public during the first quarter of 2016.