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Standard Bank Group appoints Yewande Sadiku as head of International Investment Banking

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Africa’s biggest lender, Standard Bank Group has announced the appointment of Yewande Sadiku as the head of international investment banking.

Yewande, who is the immediate past Chief Executive Officer of the Nigerian Investment Promotion Council (NIPC), will operate from the London office of the Johannesburg-based financial institution.

The appointment takes effect from September 12, 2022.

Fedredsnews had had, four months ago, reported the appointment of the 49-year old finance expert to the board of Flour Mills of Nigeria Plc as a non-executive director.

“At NIPC, she worked on institutional reforms aimed at strategic investment promotion and embedding a culture of governance and proactive accountability,” said Brian Marshall, Standard Bank’s head of investment banking, who announced the confirmation of appointment to the bank’s staff members.

“Her efforts earned NIPC first place in the 2021 national awards for compliance and transparency, up from 90th position when she assumed office in 2016,” Mr Marshall added.

Ms Sadiku has a history with Standard Bank, having been in the employ of Stanbic IBTC Holdings, the local unit of the South African-based group, right from when it was formed in 2007.

She would later head Stanbic IBTC Capital in November 2012 and become the executive director, corporate and investment banking, in 2015.

During her first stint in a public office, Ms Sadiku faced hurdles from entrenched interests as she tried to reform the NIPC. She was repeatedly pelted with unfounded allegations of inefficiency and corruption.

The conflict came to a head last year when she was investigated for allegations of corruption and abuse of office by the Independent Corrupt Practices and other related Offences Commission.

She was eventually vindicated and cleared of all charges in January.

From a revenue of N296 million at the time she took helms at NIPC, she helped grow the organisation’s earnings to N3.1billion when she exited it after a five-year term in 2021.

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