Modupe Gbadeyanka
By Modupe Gbadeyanka
The Central Bank of Nigeria (CBN) has appointed new chief executives for Union Bank, Keystone Bank, and Polaris Bank.
A statement issued on Thursday and signed by the Acting Director for Corporate Communications at the CBN, Mrs Sidi Ali Hakama, said the appointments are with immediate effect.
The banking sector watchdog in Nigeria is appointing new executives for the three banks because, on Wednesday night, it announced the dissolution of their boards and managements over “the non-compliance of these banks and their respective boards with the provisions of Section 12(c), (f), (g), (h) of Banks and Other Financial Institutions Act, 2020.”
“The Bank’s infractions vary from regulatory non-compliance, corporate governance failure, disregarding the conditions under which their licenses were granted, and involvement in activities that pose a threat to financial stability, among others,” a statement issued last night by Mrs Hakama said.
In the disclosure this morning, she said, “Following the dissolution of the board and management of Union Bank, Keystone Bank and Polaris Bank on Wednesday, January 10, the CBN has appointed new executives to oversee the affairs of the banks.”
In the statement, Ms Yetunde Oni was picked to lead Union Bank, while Mannir Ubali Ringim has been appointed as an executive director.
For Keystone Bank, its new Managing Director is Hassan Imam, while Chioma Mang is the executive director, and for Polaris Bank, Mr Lawal Mudathir Omokayode Akintola has been chosen as the new chief executive, while Chris Onyeka Ofikulu is the executive director.
