Mr. Obeahon Ohiwerei has been appointed the new managing director and chief executive officer of Keystone Bank Ltd, Nigeria. He takes over from Mr. Hafiz Bakare, the acting managing director/CEO.

In a letter addressed to the bank’s Customers, Mr. Bakare explained the processes that led to Ohiwerei’s appointment.

Mr. Bakare writes, “Dear Esteemed Customer, following the successful conclusion of Asset Management Corporation of Nigeria’s (AMCON) divestment from Keystone Bank Limited and the hand-over to the Sigma Golf- Riverbank Consortium a few months ago, you were provided with series of updates to my assumption of office as Acting MD?CEO effective 1st April, 2017.

“As you may recall, I assumed this position under a transitional governance arrangement as a bridge between the erstwhile AMCON-appointed Board under which I served as an Executive Board, and the transition Board instituted by the new owners. This was to ensure continuity and stability pending the constitution of a substantive Board and Management for the Bank.

“The Transition has been very seamless with a number of positive developments over the period while appropriate progress has been made to have the full complement of the Bank’s Board and Management, starting with the appointment of the Substantive MD/CEO.

“I am happy to inform you that following regulatory approval which has just been obtained, Mr. Obeahon Ohiwerei will immediately assume office as the Bank’s substantive Managing Director/CEO. Within the interval between his appointment by the Board and the regulatory approval, we have been in close liaison to afford him the opportunity to understudy the Bank and the role.

Mr Ohiwerei holds a first degree in Mathematics and a Masters Degree in Business Administration. He began his professional banking career with Guaranty Trust Bank Plc in 1991, and his exceptional performance saw him rise to the position of Manager within six years. After a successful career with GTBank, he worked with Standard Trust Bank (now UBA Plc) where he was appointed the Pioneer Group Head, Consumer Banking in 1998.

He resigned in 2002 as General Manager in charge of Lagos and West to join Pacific Bank Limited (then on Central Bank of Nigeria’s holding action) as Managing Director.

He repositioned the bank with his new team within 15 months and moved on to take up a new appointment as the pioneer Managing Director of Standard Trust Bank Ghana (now UBA Ghana).

He was a Group Executive Director with Access Bank Plc for 7 years, and a Director in 3 of Access Bank’s offshore subsidiaries as well as FITC, Lagos.