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Standard Chartered Bank Victoria Island, Lagos,

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In 1965, the StandardBank of South Africa merged with the Bank of West Africa acquiring businessesincluding a banking operation in Nigeria, which dated back to 1894. The namewas then changed to Standard Bank of West Africa. Four years after the merger,Standard Bank Nigeria was incorporated locally to take over the business inNigeria. In 1971, 13% of the share capital was placed with Nigerian investors.The end of the civil war saw a major economic upturn and as a consequence, themilitary government sought to increase local control of the retail-bankingsector, hence the Bank’s investment in Standard Bank Nigeria (renamed FirstBank of Nigeria in 1979) was reduced to 38%. Standard Chartered remained ashareholder of First Bank of Nigeria until 1996.

Standard Charteredre-entered Nigeria in 1999 and opened to customers on 15 September 1999 as awholly owned subsidiary of Standard Chartered Bank Plc, headquartered in UnitedKingdom. It now has Twenty-eight branches located in Lagos, PortHarcourt, Abuja, Ibadan, Kano, Kaduna, Maiduguri, Ota, Aba, Onitsha and Onneoffering a wide range of products and services in both consumer and wholesalebanking. It employs over 650 employees and sees Nigeria as a growth centre.

  • Nigeria is a very attractive and fast growing market for Standard Chartered Bank.
  • Banking sector reforms are a core part of Nigeria’s broad economic restructuring programme. In Q4 2005, the Group injected US$147m in new equity to meet the minimum capital requirement of US$185m – recognition of the importance of SCBN to the Group franchise.
  • SCBN’s organic growth strategy is delivering substantial growth in profitability. Despite the challenges in the external environment, SCBN has consistently achieved stunning results due to best-in-class cost management and strong asset book management.
  • SCBN is delivering on ‘turbocharge’ expansion strategies for both CB and WB businesses over the next three to five years.
  • Both the WB and CB businesses are performing exceptionally well – while the majority of our Trading Profit is generated by WB, the CB business momentum is excellent.
  • SCBN has over 50,000 customers - more than ten times the number of customers in 2003.
  • SCBN has also increased the number of branches from three in 2003 to 28 branches in 2011, enhancing accessibility to our products and services. SCBN has increased the number of ATMs to 26 and introduced self-service lobbies at new branches (ATMs, internet access for i-banking and phone boxes for direct call centre access).
  • SCBN has a strong reputation for delivering the highest standards of international governance – a competitive advantage and a differentiator.

SCBN has focused on various CommunityInitiatives, including Seeing is Believing (Walk for Sight), “Nets for Life”,HIV/AIDS and GOAL. Our stamp is boldly imprinted with ‘giving back to thecommunities in which we operate’. There has been continuous support in theprevention of blindness and support for the visually challenged, HIV awareness(internal and external), empowerment of adolescent girls through life skillsand healthcare. Through ‘’Seeing isBelieving’’, we hold an annual initiative, ‘Walk for Sight’, that has beenhugely successful. In 2010, the walk attracted about 800 participants and weraised USD100, 000, enough funds to restore sight to over 3,500 people withcataract-induced blindness. To date, through 6 consecutive Walk for Sight events,we have raised over USD610, 000.

  • The Wholesale Banking (WB) business in Nigeria is made up of Origination and Client Coverage, Financial Markets, Transaction Banking, Corporate Finance and Principal Finance. WB provides its clients with a wide range of customised commercial banking solutions, offering cost-effective collections and payments capabilities.
  • Wholesale Banking has also built a distinctive capability in Corporate Finance, leveraging on Group product expertise and local knowledge to deliver one-stop solutions to our target clients. Recent advisory and financing deals for NGL 2 (an Exxon Mobil and Nigeria National petroleum Corporation project) and Nigeria Liquefied Natural Gas (NLNG) have further raised our profile in this space. Our newly introduced Commodities Traders and Agribusiness team is working closely with commodity producers as we continue to support the Government’s priority to develop a sustainable agribusiness in Nigeria.
  • We havemaintained strong cash management capabilities to ensure that this criticalaspect of our clients’ businesses is met effectively in what remainsessentially a cash based society.
  • We continue tolead the way in the upstream oil industry, having led and advised on most ofthe major upstream deals in the market in the past three years.
  • We took aleading role in actively developing Nigeria’s Financial Markets throughinteractive sessions with clients and major stakeholders.
  • Weparticipated actively in the Nigeria Bankers’ Committee Sub-Committee onEconomic Development which is working with stakeholders to increase thecontribution of banks to the development of the real sector of the economy.
  • WholesaleBanking Nigeria is taking advantage of trade corridor opportunities,positioning Standard Chartered as the Bank of Choice for Chinese Corporates andthe market leader in RMB clearing capabilities
  • We have created significant presence in Nigeria where weare one of the country’s most respected financial institutions.
  • By combining global capability with deep local knowledgeand creativity we are positioned to outperform our competitors.
  • We have re-launched our Priority Banking proposition,delivering uniquely tailored products, benefits and financial services to ouraffluent customers.
  • With the introduction of several innovative transactionproducts like the VISA Infinite, Platinum, Gold and Naira cards and the VISACredit card into the market, we continue to lead the way.
  • We have launched product bundles to better meet thefinancial needs of our customers, deepen our relationship and increase ourshare of their wallet.
  • We have repositioned our SME Banking business andre-launched our Customer Value Proposition to deliver exceptional value addedservices to small and medium scale enterprises.
  • We are continually strengthening our operational riskframework which has reduced operational losses to record lows in the past fewyears.
  • We have continued to invest in our people, massivelymultiplying our leadership capacity which has culminated in most key leadershippositions occupied by local talent
  • We have a very successful mentoring programme and weaggressively manage talent using a whole raft of initiatives which includecross-functional moves, internal job watches, organization learninginterventions and attachments within and outside of Nigeria.
  • We have developed a ‘pay for performance’ culture.
  • The Technology and Operations team, the Bank’s servicedelivery arm, has successfully implemented the Group’s Core Banking systemsincluding Filenet, Fonenet, Optial and COPMAN.

The deployment of modernand standardized platforms is a significant milestone to growing our Nigerianfranchise

  • For the last few consecutive years, we have enjoyed one of the lowest critical staff turnovers in the industry - a testament to our staff engagement culture.
  • We have created a significant presence in Nigeria wherewe are one of the country’s most respected financial institutions.
  • We will continue to balance the pursuit of our growthwith firm control of costs and risks


We are keeping our promises to shareholders and have astrong track record of performance. We had a truly challenging but remarkable2010 and delivered stunning results. Despite thechallenges in the external environment, Standard Chartered Bank Nigeriaachieved a 29% growth in profits before taxation in 2010 on the back of ourbest in class cost management and strong asset book management focus.

  • Our Wholesale Banking strategy is centered on our clients and we continued to execute this in a disciplined manner, supporting our clients and providing solutions that met their needs and boosted their businesses.
  • We took a leading role in actively developing Nigeria’s Debt Capital Markets through interactive sessions with clients and major stakeholders. These efforts were successful as they resulted in reductions in taxes that had previously been applied to Corporate Bond issuances.
  • We supported the Government’s priority to develop sustainable agribusiness playing a lead role in two CBN conferences.
  • Consumer Bank’s performance across all indices resulted in the Bank winning an award for being the best performing Consumer Banking business in the Group year on year.
  • We have continued to improve our remote banking capabilities and service offering.
  • We achieved a very stable operations and technology environment while providing infrastructure support for our continued branch expansion.
  • We achieved significant growth in the number of customers that now use ATMs.


Name      Bola Adesola
Job Title  CEO, Nigeria

Year Joined the Bank 2011

Main Responsibilities To provide leadership for the Group in Nigeria through developing overall country strategy/direction.
Other responsibilities include:
Corporate Governance in Nigeria, People and Talent, Financial Performance, Achievement of Nigeria’s Financial and Headcount budgets

Work Experience Executive Director in First Bank Nigeria, responsible for managing the business in the Lagos Directorate including retail, corporate and commercial banking
Managing Director of Kakawa Discount House Nigeria, driving record business performance Citibank (nine years) senior leadership roles in Nigeria and Tanzania

Hobbies Reading and travelling


Name Yemi Owolabi

Job Title Executive Director, Finance

Year Joined the Bank 1999

Main Responsibilities Manage the financial & management accounting function of the Bank in accordance with IFRS, Nigerian GAAP and all the SCB Group accounting policies and other regulatory guidelines. 
Provide all the Management Information Systems reports required to support decision making processes
Ensure that the Bank’s Balance Sheet is managed to maximise returns on Capital

Work Experience Yemi has over 20 years’ banking experience. She was the Financial Controller of Fidelity Bank PLC (formerly Fidelity Union Merchant Bank Limited) and worked as an Audit Senior at KPMG Peat Marwick Ani Ogunde & Co

Hobbies Reading and mentoring

Name  Carol Oyedeji

Job Title Regional Head, Consumer Banking, West Africa

Year Joined the Bank 2002

Main Responsibilities Oversee the business segment in the local market (Nigeria) and across West Africa.
Full P&L responsibility for Consumer Banking in Nigeria, Ghana, Gambia and Sierra Leone. Functional areas of responsibility include Operational Risk, Marketing, Business Finance and Operations

Work Experience Carol has over 18 years’ experience in Financial Services including SME relationships, Wealth Management, Consumer Transaction Banking and Franchise Distribution.
She was previously the Regional Head of Shared Distribution, West Africa for SCB and contributed significantly to the rapid growth of the SCB franchise in West Africa.

Hobbies Reading, aerobics and watching movies


Name  Ade Adeola 

Job Title Executive Director, Origination and Client Coverage (OCC)

Year Joined the Bank 1999

Main Responsibilities Management of all WB client relationships and country sales processes for all Global markets and Transaction banking products.
Joint overall responsibility with the Head, Financial Markets for the country Wholesale Bank strategic plan.

Work Experience Ade has over 24 years of banking and deal structuring experience in multiple geographies. He has led several landmark financial advisory in oil and gas globally. Ade was appointed Head, Project & Export Finance, Africa in 2008. Prior to this he was the Global Head of the Project & Export Finance Oil and Gas team and Regional Head, Sales and Business Development, Africa. Ade joined Standard Chartered Bank in 1999.

Hobbies Swimming and squash

Name David Adepoju

Job Title Head of Global Markets

Year Joined the Bank 2004

Main Responsibilities  Co-Head of WB with direct responsibility for the Global Markets businesses covering Trading, Sales, Asset and Liability Management (ALM), Debt Capital Markets (DCM) and indirect responsibility for Corporate Finance Ensure strict control environment in the financial markets business
Primary contact re financial markets for the regulators, including the Central Bank of Nigeria

Work Experience  David has over ten years’ experience in Financial Markets in different markets in Africa, the Middle East and the UK. He specialises in Asset and Liability Management, market risk and fixed income trading.

Hobbies New technology, chess, Greek and Roman mythology

Name  Sade Kilaso
Job Title Executive Director, Human Resources (HR)

Year Joined the Bank  2003

 Main Responsibilities  Provide thought leadership on human capital management to Manco and the Board of SCBN 
Drive a robust strategic people agenda aligned to the business/growth plan of each of the countries in the West Africa region
Review HR processes to improve service delivery and to embed discipline/standards in the HR function

Work Experience Sade was previously Regional Head, Legal & Compliance, and Africa. She is a UK qualified solicitor as well as a qualified Nigerian attorney. Prior to joining SCB, she was a Senior Lawyer with Gartmore Investment Management Plc in London.

Hobbies  Swimming, travelling and mentoring



Name Diran Olojo

Job Title Head, Corporate Affairs

Year Joined the Bank 2005

Main Responsibilities Responsible for the Country’s internal and external communication programmes
Manage the bank’s ‘share of voice’ in the local media and ensure the bank is seen as a market leader
Ensure that Country level messages and brand profiling are consistent with Group

Work Experience Diran previously worked in Leadbank Plc as Head Corporate Affairs and Citibank Nigeria as Head, Public Affairs for the West African cluster. Diran has over 13 years’ banking experience.


Hobbies Reading and playing lawn tennis

Name Seye Kosoko

Job Title Chief Legal Officer/Company Secretary

Year Joined the Bank 2012

Main Responsibilities Provide company secretarial, governance advisory and administrative support
Formulate the legal framework within which the bank businesses can be conducted
Manage and direct the bank’s portfolio of various legal issues
Mitigate Credit Risk

Work Experience Before joining the bank Seye was the Managing Solicitor at Henley, Crankshaw Solicitors between 2004-2012. Prior to that he was the Chief Legal Officer/Company Secretary from 2001-2004 at Econet Wireless Nigeria Limited (now Airtel Nigeria) and before that was the General Counsel/Head Compliance at Citibank Nigeria from 1991-2001.

Hobbies Reading, Community Activity, Meeting people, Music, Sports.



Phone 234 (0)1 270 0025
Address 142 Ahmadu Bello Way Victoria Island, Lagos,


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