Corporate Information

BOARD CREDIT COMMITTEE

The Committee acts on behalf of the Board on credit matters and reports to the Board for approval/ratification.

BOARD FINANCE AND GENERAL PURPOSE COMMITTEE

The Committee acts on behalf of the Board on all matters relating to financial management and reports to the Board for approval/ratification.

BOARD ESTABLISHMENT COMMITTEE

The Committee acts on behalf of the Board on all matters relating to the workforce.

BOARD RISK MANAGEMENT COMMITTEE

The Committee is responsible for evaluating and handling issues relating to risk management in the Bank.

AUDIT COMMITTEE

The Committee acts on behalf of the Board on all audit matters. Decisions and actions of the Committee are presented to the Board for approval/ratification. The Management team also exercises its oversight functions through its various Management Committees namely:

EXECUTIVE COMMITTEE (EXCO)

The Committee provides leadership to the management team and ensures the implementation of strategies approved by the Board.

ASSETS AND LIABILITY COMMITTEE (ALCO)

The Committee is responsible for adequate liquidity and the management of interest rate risk within acceptable parameters. It also reviews the economic outlook and its impact on the Bank’s strategies.

MANAGEMENT CREDIT COMMITTEE (MCC)

The Committee approves new credit products and initiatives, minimum/prime lending rate and reviews the credit policy manual. It approves exposures up to its maximum limit and the risk asset acceptance criteria.

MANAGEMENT PERFORMANCE REVIEW COMMITTEE (MPR)

The Committee reviews the Bank’s monthly performance on set targets and monitors budget achievement. It also assesses the efficiency of resource deployment in the Bank and re-appraises cost management initiatives.

CRITICISED ASSETS COMMITTEE (CAC)

The Committee reviews the Bank’s credit portfolio and collateral documentation. It reviews the non-performing loan stock and recovery strategies for bad loans.

TECHNOLOGY STEERING COMMITTEE (TSC)

The Committee determines the technology resources required to meet business and operational needs of the Bank.

MANAGEMENT RISK COMMITTEE (MRC)

The Committee is responsible for planning, management and control of the Bank’s overall risks. It includes setting the Bank’s risk philosophy, risk appetite, risk limits and risk policies.

WHISTLE BLOWING

As part of our commitment to high standards of openness, probity and accountability, we have put in place an efficient whistle blowing mechanism that ensures a high level of integrity and transparency. See our Whistle Blower policy here

An essential attribute of the process is the guarantee of confidentiality and protection of the whistle blower’s identity and rights. The Bank has a Whistle blowing channel via the bank’s website, dedicated telephone hotlines and e-mail address in compliance with Section 6.1.1.2 of the Central Bank of Nigeria (CBN) Code of Corporate Governance for Banks in Nigeria.

In line with corporate governance guidelines issued by the Central Bank of Nigeria in April 2006, the following committees have been constituted by the Board.

SUCCESSION PLANNING

A Succession Planning Policy was approved by the Board of Directors in 2009. This is an integral part of the bank’s commitment to ensure growth and business continuity.

CODE OF ETHICS

The Bank has a Code of Ethics that guides staff behavior as stipulated in the Staff Handbook which also includes sample offences/violations and measures to be taken in such cases.

CODE OF CONDUCT FOR DIRECTORS

Sterling Bank Plc (the "Bank") is committed to conducting its business in accordance with applicable laws, rules and regulations, and the highest standards of business ethics and international best practices. Download Code of Conduct

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