Sterling Bank gets CBN’s nod for holding company

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Sterling Bank Plc has said it is considering a new subsidiary as it transforms into a holding company.

The Managing Director and Chief Executive Officer of the bank, Mr Abubakar Suleiman, said this in a statement on Tuesday entitled ‘Sterling Bank starts restructuring, set to spin off multiple banks.’

He said the bank was currently in the process of meeting the conditions for the final approval from the CBN. According to him, the NIB will focus on building partnerships that connect individuals and businesses, leveraging technology to create business optimisation, while solving the individual’s daily financial needs.

He said the execution of the plan was fully dependent on an interwoven operating model of agility, specialisation and digitisation.

 

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Sterling bank was defrauded by Adewoye Adetunji in 2010. The EFCC coordinated the case. Now 10 years later using Alaba Adebajo of UT Financial Services Nigeria Ltd Adetunji defrauds Menzgold customers of $51m. The EFCC deleting warrants 1 day before major court case. Why?

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