Sterling Bank Plc has stated its intention to seek a license for a stand-alone Non-Interest Bank (NIB) from the Central Bank of Nigeria (CBN).
According to outgoing Managing Director/CEO, Mr. Yemi Adeola, who gave the hint during a visit to the Nigeria Deposit Insurance Corporation (NDIC) management in Abuja, the decision was informed by the feasibility studies conducted by the bank, judging from the potential market and financial resources of customers expected to embrace NIB.
“The NDIC was renowned for the excellence of its Bank Examiners and the laudable reputation they acquired through the quality of their reports,” Adeola said while commending the NDIC for its contributions to the safety and soundness of the Nigerian banking system since its inception.

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