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The Board PDF Print E-mail

Board of Directors

The Board of Directors of Skye Bank is comprised of 17 seasoned professionals, technocrats, administrators and entrepreneurs.

Working in consultation with the Bank’s Management Team, the Board sets the Bank’s annual and long-term strategic and financial goals. The Board also reviews and approves the corporate strategies for the Bank and has overall responsibility for risk management, financial reporting and corporate governance issues.

The members of the Board of Directors belong to various Committees which assist the Board in discharging their oversight functions. The Board through its Committees assesses and monitors Management’s performance against pre-set corporate objectives and provides oversight for the overall management of the Bank’s business. The Board ensures that the core values of the Bank are upheld.

Appointments & Resignations

During the course of the year Mr. Segun Oloketuyi resigned his appointment from the Board of Directors of the Bank to pursue other opportunities. During the same period, Mr. Timothy Oguntayo was appointed as an Executive Director of the Bank.

Training

The Bank has a policy of continuous training for Directors. During the year, the Board and Management held 2 Strategy sessions. The sessions which were facilitated by renowned industry technocrats, reviewed and re-calibrated the Bank’s corporate and business strategy given the dynamism in the economy. It also reviewed the Bank’s brand strategy, framework for corporate governance, career development & succession planning, amongst many others.

During the period, Directors attended formal trainings to hone their skills, including the 27th Cambridge International Symposium on Economic Crime, Cambridge and the seminar on ‘Emerging Issues of Leadership & Corporate Governance in the Financial Sector’ jointly organized by the Central Bank of Nigeria and the Financial Institutions Training Center (FITC). In addition to these, the Board received target presentations and Consultations on various aspects of its duties including sessions on Risk Management framework delivered by Messrs. Dunn & Bradstreet and industry analysis on various sectors of the industry to enrich its credit evaluations in those sectors. The Board through its Credit Committee also undertook facility tour of some projects and received valuable knowledge and information on such projects as a way of receiving hands on training on critical aspects of those industries.

Professional Activities

The Board of Directors belong to and actively participate in professional associations such as Institute of Directors (IOD), Bank Directors Association of Nigeria (BDAN), Chartered Institute of Bankers of Nigeria, the Institute of Credit Administration, Chartered Institute of Taxation of Nigeria, Association of Certified Chartered Accountants (ACCA), United Kingdom, Institute of Chartered Accountants of Nigeria (ICAN), Chartered Institute of Stockbrokers of Nigeria, Nigerian Institute of Management, Risk Management Association of Nigeria and Institute of Internal Auditors of Nigeria.

Several of the Board members are alumnus of European Institute of Business Administration (INSEAD), Fontainebleau, France, Harvard Business School, Pan-African University, University of Cambridge and other prestigious institutions of learning.

Mrs. Morenikeji Onasanya, the Vice Chairman is the immediate past President of the Bank Directors’ Association of Nigeria, while Mr. Michael Tarfa is its incumbent Treasurer. Several of the Directors are Fellows in the various professional associations to which they belong.

Board of Directors Meetings

During the 2009 financial year, the Board of Directors held 7 meetings. At the Board Meetings, the members were provided with comprehensive updates on the implementation of the Bank’s strategy, financial performance, business, internal controls and operations. Accounting and regulatory changes relevant to the Bank’s operations as well as market trends and developments were also discussed during the meetings.

In addition to receiving the report of the Board Committees and other information at the Board meetings, the Board members have the opportunity to interact with senior management as well as intermediate staff members and are free to seek professional assistance from external Consultants and Advisers. Indeed, the Board and its Committees received input from many of such Consultants and Advisers on various aspects of the Bank’s operations during the period under review.

Board of Directors’ & Committee Meetings Attendance

S/N

Directors

BOD

BCC

GPC

SC&R

RMC

Audit

BCom

BNom

Comment

No. of Meetings

7

7

6

5

5

5

Nil

2

1

Alhaji Musiliu Smith

7

-

-

-

-

-

-

-

2

Mrs. Onasanya

7

-

-

-

-

-

-

-

3

Princess A. Adeniran

7

7

-

4

-

-

-

-

4

Mr. Kola Awodein [SAN]

6

-

-

5

1

-

-

1

Admitted to the Board Risk Mgt. Committee on February 25, 2009

5

Brig. Gen. A. Ukpo (Rtd.)

6

6

6

-

-

-

-

2

6

Dr. Jason Fadeyi

5

-

-

-

-

4

-

-

7

Mr. Tunde Ayeni

7

6

-

-

3

2*

-

2

Admitted to the Audit Committee on February 25, 2009

8

Mr. Victor Adenigbagbe

5

-

-

-

-

4

-

-

9

Mr. Michael Tarfa

7

-

5

4

-

-

-

2

10

Mr. Vinay Tuteja-

4

-

3

-

3

-

-

Nil

He notified Board members in writing of his scheduled absence from the country, and nominated a proxy to attend meetings and vote in his stead.

11

Mr. Aki-nsola Akinfemiwa

7

7

5

4

4

-

-

2

12

Mr. Kehinde Durosinmi-Etti

7

6

-

5

-

-

-

-

13

Mr. Segun Oloketuyi

3*

4*

-

-

3

-

-

-

Resigned on June 1, 2009

14

Mr. Gbenga Ademulegun

6

-

5

-

5

-

-

-

15

Mrs. Ibiye Ekong

5*

-

4

-

-

-

-

-

Admitted to the Board Committee on February 25, 2009

16

Mrs. Amaka Onwughalu

5*

-

-

-

4

-

-

-

Admitted to the Board Committee on February 25, 2009

17

Mr. Dotun Adeniyi

5*

-

-

4*

-

-

-

-

Admitted to the Board Committee on February 25, 2009

18

Mr. Timothy Oguntayo

1*

2*

-

-

1*

-

-

-

Appointed on August 18, 2009.

Admitted to the Board Committees on November 10, 2009

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