The Chairman of Stanbic IBTC Plc , Mr. Atedo Peterside, Tuesday announced his resignation from the board of the bank after serving for 10 years.

His resignation takes effect on March 31, 2017

In an email to directors of the company titled ‘moving on’, Peterside said “having served as the Chief Executive Officer of IBTC from inception in 1989 and all the way up until the merger that created Stanbic IBTC Bank Plc in 2007 and as Chairman thereafter, I believe this is the ideal time for me to resign from the Board and move on.”

Stating that he is a stickler for due process, Peterside said from April 2017, he will not be available to discuss the Nigerian operations unless required to do so by the parent board.

” In business terms in Nigeria, I would like to be able to concentrate largely on ANAP Business Jets Limited, which I founded a couple of years ago and where I am Chairman,” he said.