Jaiz Bank Plc (the Bank) hereby notifies of the following developments in the Bank:

Resignation of Alh. (Dr.) Umaru Abdul Mutallab (Chairman of the Board of Directors) and Mall. Falalu Bello

The Bank hereby announces the resignation of Alh. (Dr.) Umaru Abdul Mutallab (Chairman of the Board of Directors) and Mall. Falalu Bello. This is in compliance with the Central Bank of Nigeria’s (CBN) circular dated 24% February 2023 (Ref: FPRIDIR/PUB/CIRIOO1/070) which had pegged the cumulative tenure of Non-Executive Directors of Deposit Money Banks to 20 years.

Appointment of Alh. (Dr.) Musbahu M. Bashir as the Acting Chairman of the Board of Directors of the Bank

The Board has also approved the appointment of Alh. (Dr.) Musbahu M. Bashir as the Acting Chairman of the Board of Directors subject to the CBN’s approval. 

Alh. (Dr.) Musbahu Bashir was the Chairman of the Board Investment Committee, and he was appointed to the Board of the Bank on May 7, 2012. He is the Chairman of Althani Group of Companies, and Cobalt International Services Limited since 2004. He is also a Director in Mafab Communications Limited, Bento Drill Nigeria Limited, Offshore Technologies International Limited, and Resource Capital Group.

He obtained a BBA in Business Management from America University in 2002, an Advanced Diploma in Business Management in 1998 from Tafawa Balewa University, Abuja campus, and a National Diploma in Irrigation Engineering from the Kaduna Polytechnic in 1987. He was conferred with an Honorary Doctorate Degree by the Igbinedion University, Okada, Edo State, Nigeria