As part of the implementation of its new strategy and in conformity with two recent circulars from the Central Bank of Nigeria, Jaiz Bank has reorganized its board and management.
According to a statement made by the bank, the first circular caused two non-executive directors—former Board of Directors Chairman Umaru Mutallab and Falalu Bello—to resign from their positions and resulted in the election of a new board chairman.
According to the circular, two additional non-executive directors, Ibrahim Maude and Bello Sani, recently resigned, bringing the number of board members down to 14.
According to the bank, this event forced the board to cascade reforms and a reorganization process down to the management level, and then ultimately to every cadre of employees.
It was also stated that Dr. Sirajo Salisu’s voluntary resignation as MD/CEO was accepted by the board at its meeting on August 14, 2023, and Ahmed Hassan was then named as acting MD/CEO, executive director, operations, and chief financial officer.
“This strategy realignment intends to reposition the bank to better serve its stakeholders and clientele.”
According to the statement, this will aid the bank in boosting profitability, growing market share, and maintaining its competitive advantage.