SunTrust Bank appoints Aku as board chairman

The board of SunTrust Bank Nigeria Limited (SunTrust Bank) has appointed Jibril Aku as its Board Chairman, succeeding Chief Charles Onyema Ugboko who retired from the Board upon attaining the retirement age in compliance with the Bank’s Articles of Association.

In a statement made available to The Guardian, the Board and Management of SunTrust Bank thanked Chief Charles Ugboko for his astute leadership and contributions to the Bank. Under his guidance, the Bank defined its strategic direction and made significant strides in executing its Fintech vision.

In his comments the outgoing Chairman, Ugboko, expressed delight at the appointment of Aku as Chairman saying: ‘Jibril Aku is a seasoned banker who has also had significant Board experience in the banking and financial industry generally. A combination that will significantly benefit both management and the Board.”

He added: “I worked with him at Afribank and I have no doubt that as Chairman of the Board of SunTrust he will ensure that the Bank continues to execute and actualise the defined strategic initiatives which we began.”

Aku has over 34 years banking experience with 24 years spent in senior management levels. Prior to joining the board of SunTrust Bank, he served as Group Head, Strategy at Ecobank Transnational Incorporated, in Lome, Togo and, was also Managing Director/CEO of Ecobank Nigeria Limited from 2010-2015. He is on the board of FMDQ OTC PLC as Vice Chairman.

Prior to joining the Ecobank Group, he was the Executive Director Operations and Information Technology at Former Afribank Nigeria Plc. Before joining the former Afribank, he was at Citibank Nigeria where he served in various capacities and departments and attained the position of Vice President and Country/ Regional Treasurer.

Aku graduated from Ahmadu Bello University, Zaria, with a bachelor’s degree in Business Administration. He is a holder of MBA degree from the University of Benin. He is a Fellow of the Chartered Institute of Bankers and various professional bodies. He was awarded Doctor of Science in Business Administration (D.Sc.) Honoris Causa by Achievers University, Ondo State.
He is married with children and holds the traditional title of OLIOKO of Uzanu in Edo State.

SunTrust Bank, inspired by the future, is a privately held Commercial Bank licensed by the Central Bank of Nigeria under the BOFIA.
SunTrust Bank is poised to create value for its customers by leveraging on our competencies and a team of highly motivated staff, we work tirelessly to develop & provide a broad range of unique financial services and products to consumers, small business, corporations, governments and institutions with that will positively impact their business.

Chief Executive Officer of SunTrust Bank, Muhammad Jibrin, said: “We wish Chief Ugboko well in all his future endeavours.”

“We strive to create the best outcomes for our clients and customers with financial ingenuity that leads to solutions that are simple, creative and responsible. The Bank focuses its lending activities on SME Finance, Retail/Consumer Banking, medium to large Corporate Finance and explores other specialized Development/infrastructure financing activities.”

SunTrust Bank is committed to meeting the financial service needs of the communities it serves in a friendly, professional manner, while improving shareholder value. We strive to earn a superior return while maintaining an uncompromising commitment to the principles of honesty and integrity. Our commitments to our shareholders, customers and employees will enable the Company maintain a level of profitability necessary to remain independent for the benefit of the communities we serve.