Nigeria's Skye Bank appoints Amaka Onwughalu as Interim Managing Director for Mainstreet Bank

Amaka Onwughalu, Interim Managing Director of Mainstreet Bank

Skye Bank has appointed Amaka Onwughalu as the interim Managing Director for Mainstreet Bank Limited.

Skye Bank recently acquired Mainstreet Bank from the Asset Management Corporation of Nigeria (AMCON).

Nigeria’s Skye Bank completes payment for acquisition of Mainstreet Bank

Amaka Onwughalu will continue in her role as Deputy Managing Director (DMD) at Skye Bank.

AMCON formally handed over the management of Mainstreet Bank to Skye Bank on December 18, 2014. Directors of Mainstreet Bank also resigned their appointments on that date.

Mainstreet Bank is now being headed by an interim management board that includes Onwughalu as Managing Director, as well as Dotun Adeniyi as an Executive Director. Mainstreet Bank’s interim management board is expected to head the bank for the next six months.

Onwughalu was appointed to the Board of Skye Bank on November 30, 2008. The bank’s statement of her appointment described her as an astute bank administrator with over 27 years of experience. Until April 2005, Onwughalu was the Acting Managing Director of Reliance Bank. Skye Bank was formed in 2006, as a result of the merger of Reliance Bank and four banks.

During Amaka Onwughalu’s tenure as Deputy Managing Director at Skye Bank, she has been in charge of the following groups: Treasury, International Funding, and Corporate Banking. Additionally, Onwughalu has headed international subsidiaries of the bank in her capacity as Deputy Managing Director.

Dotun Adeniyi was appointed to the board of Skye Bank on November 30, 2008. The bank’s statement of his appointment described Adeniyi as a banker with over 28 years of experience spanning corporate banking, commercial banking, retail banking, international trade finance, and banking operations.

Adeniyi is currently Skye Bank’s Chief Risk Officer. Adeniyi started his banking career as a trainee manager with the United Bank for Africa (UBA) in 1986.

Source: Nigeria Business News.