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government bail-out. All the banks were found to have low cash reserves because of bad loans. It was alleged that Ibru extended credit facilities of 16 billion NAIRA to a company who had no collateral. On 8 October 2010, Ibru was convicted on 25 counts of corporate fraud. She was ordered to reimburse $ 1.2B (£786m) in cash and assets, and sentenced to six months of prison. The court confiscated over 100 properties from her in
Nigeria, Dubai and the United States.
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Ibru appeared in court alongside three other senior banking executives in
Nigeria. They all denied charges that they were involved in a multibillion-dollar banking scandal. Anti-corruption police brought criminal charges against executives from five banks rescued in a 400bn naira ($ 2.6bn; £1.6bn)
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Ibru began working with
Oceanic Bank in 1990 as general manager. After seven years with Oceanic, she was promoted to managing director and CEO. Oceanic began as a small family-owned bank, but grew into one of the Nigeria’s largest publicly quoted institutions during Ibru’s stewardship.
101:. She is Nigeria's first female bank CEO and was dubbed the first lady of banking. In 2010, she was convicted of corporate fraud and sentenced to prison as part of a multibillion-dollar banking scandal.
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as project director. After two years in this role, Ibru went on to serve as international finance coordinator, a position she held until 1990.
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in 1971 with a BS in sociology. Ibru pursued her graduate studies at the university and received a
Masters of Philosophy from the
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from 1960 to 1965 along with her twin Lucy and studied at
University Tutorial College in London from 1967 to 1968.
151:, announced that John Aloh would replace Ibru at Oceanic. Others replaced on the same day included the CEO of the
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AUTHORITY STEALING: How Greedy
Politicians and Corporate Executives Loot the World's Most Populous Black Nation
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On 13 August 2009 Ibru was amongst five bank CEOs who were dismissed. Five replacements were named by the
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336:, Gabriel Omoh and Babajide Komolafe, 14 August 2009, VanguardNGR, Retrieved 23 February 2016
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302:"Leading a developing-market bank: An interview with the CEO of Nigeria’s Oceanic Bank"
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Born to Edward and
Victoria Sido Yes, Ibru attended Saint Margaret’s Grammar School in
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97:(born 22 March 1946) is the former managing director and chief executive officer of
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221:"Encouraging more female CEOs in the banking sector – Businessday NG"
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241:"Nigeria's 'First Lady of Banking' surrenders to police"
366:"Former Nigeria bank CEO Cecilia Ibru jailed for fraud"
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273:"Dr. Cecilia Ibru, Oceanic Bank, Nigeria"
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372:from the original on November 22, 2023
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155:, Dr. Bath Ebong, who was replaced by
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440:Alumni of SOAS University of London
173:Michael and Cecilia Ibru University
167:Michael and Cecilia Ibru University
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397:. AuthorHouse. pp. 92–99.
391:BOLAJI AKINOLA (25 July 2012).
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279:, Accessed December 9, 2012.
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310:, Accessed December 9, 2012.
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78:25 counts of corporate fraud
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352:September 18, 2009, at the
327:CBN sacks 5 Banks Directors
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380:– via www.bbc.co.uk.
283:February 11, 2012, at the
425:Nigerian chief executives
314:December 2, 2010, at the
132:In 1978, Ibru joined the
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122:SOAS University of London
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70:, chief executive officer
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105:Early life and education
147:. The deputy governor,
145:Central Bank of Nigeria
116:She graduated from the
157:Olufunke Iyabo Osibodu
346:Banking investigation
153:Union Bank of Nigeria
300:McKinsey Quarterly,
171:Ibru co-founded the
118:University of London
368:. October 9, 2010.
332:2016-02-14 at the
307:McKinsey Quarterly
202:2012-09-20 at the
404:978-1-4772-1891-4
348:, OnLineNigeria.
134:Ibru Organization
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99:Oceanic Bank
95:Cecilia Ibru
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87:Michael Ibru
30:Cecilia Ibru
20:Cecilia Ibru
445:Ibru family
435:1946 births
177:Agbara-Otor
175:in 2015 in
149:Sarah Alade
54:Nationality
419:Categories
251:2024-04-15
226:2024-04-17
183:References
124:in 1977.
36:1946-03-22
376:April 12,
370:Archived
350:Archived
330:Archived
312:Archived
281:Archived
245:ABC News
200:Archived
58:Nigerian
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128:Career
83:Spouse
111:Ilesa
399:ISBN
378:2024
26:Born
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