Di Central Bank of Nigeria (CBN) don announce new executive boards for Union Bank, Keystone Bank and Polaris Bank.
Dis dey come afta dem dissolve di boards and management of di banks on Wednesday 10 January, 2024 sake of say dem dey face special investigation on how dem operate under former CBN Govnor, Godwin Emefiele.
Hours later, the apex bank for Nigeria announce replacement for three of di banks out of four.
Union Bank get Yetunde Oni as di new Managing Director and Chief Executive Officer. She be di former Chief Executive Officer for Standard Chartered Bank for Sierra Leone.
Mannir Ubani Ringim na Executive Director.
Keystone Bank get Hassan Imam as di new Managing Director and Executive Officer.
Im be former Executive Director, North Directorate of Fidelity Bank and na for January 2020 im enta di position. Im bin don also serve s di General Manager, Regional Bank Head for Abuja
Chioma Mang be di new Executive Director.
Polaris Bank new Managing Director and Executive Officer na Lawal Mudathir Omokayode Akintola. Im be former Executive Director of Sterling Bank.
Chris Onyeka Ofikulu na di new Executive Director.
CBN Appoints New Executives for Union Bank, Keystone Bank, and Polaris Bank pic.twitter.com/w6PITD4ySL
— Central Bank of Nigeria (@cenbank) January 10, 2024
Why CBN sack board members for Union, Titan Trust, Keystone and Polaris banks
Di highest bank for Nigeria bin sack di board members of Union, Titan Trust, Keystone and Polaris banks on 10 January, 2024.
Dem make di announcement for statement dem release on Wednesday.
Hakama Alli wey be acting Director of Communications for CBN wey sign di statement say di apex bank dissolve di different boards of di bank afta one meeting wit di CBN for Abuja.
All di four banks dey involved for di special investigations into how di CBN operate under di former Govnor, Godwin Emefiele.
Di report of one special investigation into di activities of di CBN come out late last year.
Di report indict oga Emefiele, di immediate past govnor of di apex bank.
Di report tok say di former CBN oga allegedly use pipo wey dey close to am to buy Union Bank of Nigeria for Titan Trust Bank Limited and Keystone Bank without any evidence of payment.
Press Release: CBN Dissolves the Board and Management of Union Bank, Keystone Bank and Polaris Bank pic.twitter.com/HJmPs8bESD
— Central Bank of Nigeria (@cenbank) January 10, 2024
On di reason for dissolving di boards, CBN say di banks no follow di conditions wey dey di license wey dem give dem to operate.
“Di action become necessary due to di non-compliance of dis banks and dia respective boards wit di provisions of Section 12(c, f, g and h) of Banks and oda institutions act.
“Di offence of di banks dey different from regulatory non-compliance, corporate governance failure disregarding di conditions wey dem take set dem up and involvement for activities wey pose threat to financial stability among odas,” statement tok.
