Stanbic IBTC Holdings has appointed an acting chief executive officer to fill the upcoming vacancy created by the retirement of Demola Sogunle, who will step down from his position later this month. 

In a statement released on Wednesday, the group acknowledged Dr. Sogunle's nearly 35 years of dedicated service, highlighting his significant contributions to Stanbic IBTC and his leadership through various challenges and successes. 

Mr. Sogunle has led the Nigerian division of Standard Bank Group, the largest bank in sub-Saharan Africa by assets, for over two years. Effective November 1, Kunle Adedeji, the current chief financial officer (CFO), will assume the role of acting CEO, following Mr. Sogunle's departure. Mr. Adedeji also serves as the chief finance and value management officer of the organization. 

The group confirmed that the necessary regulatory approvals for this appointment are already secured. Mr. Adedeji joined the board of directors as an executive director in 2019 and previously held the position of CFO at Stanbic Bank Ghana from May 2013 to March 2018. 

He also holds non-executive director roles at Zest Payments Limited and Stanbic IBTC Stockbrokers Limited. With over 25 years in the banking sector, he has previously served as financial controller at Ecobank Liberia and chief financial controller at Ecobank Nigeria. 

Mr. Adedeji is an alumnus of the University of Lagos, where he earned a degree in Accounting and an MBA in Finance. Additionally, he holds a Diploma in Business Administration from the Swiss Business School in Switzerland. 

He is a fellow of the Institute of Chartered Accountants of Nigeria and possesses various fellowships, including those from the Chartered Institute of Stockbrokers of Nigeria and the Chartered Institute of Bankers of Nigeria. He is also an associate member of the Chartered Institute of Taxation of Nigeria and the Nigeria Institute of Management.