JUST IN: CBN Triggers Reorganisation Of Jaiz Bank As CEO Sirajo Salisu, Four Directors Resign

The Central Bank of Nigeria has triggered the reorganization of Jaiz Bank’s management team as the non-interest bank pushes to boost profitability.

The WHISTLER can report that four directors have resigned from the bank bringing its board to fourteen members.

The bank’s Managing Director and Chief Executive Officer, Sirajo Salisu also tendered his resignation letter which was accepted by the Board on August 14, 2023, the bank disclosed in a regulatory filing obtained by THE WHISTLER.

The affected directors are Unar Abdul Mutallab board chairman, Falalu Bello who first resigned when the apex bank issued the first circular.

Ibrahim Mamun Maude and Bello Muhammad Sani also resigned following a second circular issued by the apex bank.

Jaiz bank said, “Jaiz Bank wishes to inform NGX and the General Public that as part of the implementation of its new strategy and in compliance with two recent Circulars from the Central Bank of Nigeria (CBN), the Bank has undertaken some changes and restructuring of its Board and Management.

“The first Circular led to the resignation of 2 Non-Executive Directors (NEDs) in the persons of Alh. (Dr.) Umaru Abdul Mutallab (Chairman of the Board of Directors) and Mall. Falalu Bello from the Board and the subsequent appointment of a new Chairman for the Board.

“The latest Circular has also led to the recent resignation of 2 more NEDs in the persons of Alh. Ibrahim Mamun Maude and HRH Bello Muhammad Sani bringing the total number of Board members down to fourteen (14).

“The Board at its meeting held on 14′ of August 2023 accepted the voluntary resignation of Dr. Sirajo Salisu as the MD/CEO and consequently appointed Mall. Ahmed Alhaji Hassan as acting MD/CEO who until now was Executive Director, Operations and CFO.”

Jaiz Bank said the Board resolved to extend the changes and restructuring process to the Management level and ultimately to all staff cadre.

“The aim of this strategic realignment is to reposition the Bank to serve its clientele and stakeholders better. This will help the Bank to boost its profitability, increase its market share and sustain its competitive edge,” it added.