Sterling Bank has announced the appointment of two non-executive directors to its board of directors. The new directors are: Mr. Aderemi Rasheed Kolarinwa and Mr. Akanji Musibau Fashanu. The new directors bring a wealth of private sector experience to their new roles.

Rasheed Kolarinwa graduated from the University of Toronto with Bachelor of Arts degree in Economics. He obtained a Masters degree in Business Administration from the Schulich School of Business, York University Toronto, Canada.

In a career that spans three decades in the banking industry, Kolarinwa has made invaluable contributions to the profession. He retired as the Deputy Managing Director of the defunct IBTC Chartered Bank. He is currently the Chairman of Capiflex Management Limited, asset management, and investment services firm.

Musibau Fashanu holds a Bachelor of Science degree in Economics from the University of Ibadan and is currently a Fellow of the Economic Development Institute (EDI) of the World Bank.

With a background in academic research, Fashanu began his career in 1965 as a collector with the Nigerian Customs & Excise in 1965. By 1971, he had risen to the position of Principal Investigation Officer. He later moved to Nigerian Industrial Development Bank Limited as an Investment Executive and rose through the executive and supervisory cadres to become the General Manager (Operations).

His rich professional experience includes close collaboration with the World Bank, the European Investment Bank, and the African Development Bank.

During his long and distinguished career, Mr. Fashanu has sat on the Boards of various institutions.

The appointments of both directors have been approved by the Central Bank of Nigeria and take immediate effect.