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Skye Bank Strengthens Governance, Appoints Odozi

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In a bid to demonstrate its strong commitment to strengthening its corporate governance standards, Skye Bank Plc has appointed a seasoned, tested banker, former regulator and corporate governance practitioner, Mr. Victor Odozi, as an independent director. Odozi, according to a statement made available to THISDAY by Skye Bank in Lagos, was a former Deputy Governor of the Central Bank of Nigeria (CBN) in charge of Domestic Monetary and Banking Policy before his retirement from the apex institution.Odozi, who was Deputy Governor of the CBN from 1988 to 1999, is a revered voice in the nation’s financial services sector on account of his painstaking and thorough approach to banking issues as well as his wealth of experience garnered over the years as a regulator.

According to the statement, Odozi’s appointment to the board is a demonstration of its commitment to improving corporate governance and benchmarking global best practice, which would set new industry standards in the country.The bank said Odozi, a credible and disciplined apostle of professionalism in banking, would complement the board in the vital areas of strategy, risk management, internal control and corporate governance.

Odozi, who was unveiled to the bank shareholders at the annual general meeting (AGM) held in Abuja last week, will assist the various committees of the board to evolve growth centred but regulatory compliant policies that will make Skye Bank the leader in the industry in the nearest future.Besides his appointment, the statement said the bank had engaged an international consultant to review its internal system to strengthen its corporate governance and benchmarking it against international best practice and the CBN Code.  

The objective, it said, is to redesign its internal processes and procedures for improved and higher productivity, efficiency and control while also being compliant with the extant rules and regulation.Odozi is a 1966 graduate of Economics from the University of Ibadan and a Fellow of both the Chartered Institute of Bankers of Nigeria (CIBN) and Institute of Credit Administration.He joined the CBN in 1967 and rose to the position of a departmental director in 1984. He was appointed the Deputy Governor of the CBN in 1988, a position he held until his retirement in June 1999.

While at the CBN, he held important external appointments, including Chairman, Board of Directors, Nigeria Import-Export Bank; Member, Board of Directors, Nigerian Industrial Development Bank; Chairman, Governing Council, Financial Institutions Training Centre (FITC) and foundation member, Board of Directors, African Export Import Bank, Cairo.

Since retirement from the CBN, Odozi has been involved in financial sector consulting, with particular interest on organisational change management, enterprise risk management; anti-money laundering compliance and typology studies, corporate governance, among others.He was a member of the Board of UBA between 1999-2005; Chairman, Board of Directors, UBA  Pensions Custodian; Chairman, Board of Directors, Excel Professional Services, among others. 


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