Union, Keystone, Polaris banks gets new management
The Central Bank of Nigeria has appointed new executives to manage the affairs Union Bank, Keystone Bank and Polaris Bank.
The new appointment followed the dissolution of the board and management of the three banks over infractions committed during the tenure of former Governor, Godwin Emefiele.
On Wednesday evening, the Apex Bank in a statement stated that due to 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, their management were sent packaging.
Special investigator Jim Obazee had been probing the activities of former Governor of the CBN, Godwin Emefiele. In the cause of the investigation, the investors in Titan Trust Bank refused to honour the invitation to a meeting with the special investigator.
“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,” the statement said.
According to the regulator in a new statement signed by Sidi Ali, Hakama (Mrs.), Ag Director, Corporate Communications, Union Bank has Yetunde Oni as the Managing Director/Chief Executive Officer and Mannir Ubali Ringim as Executive Director.
For Keystone Bank, Hassan Imam takes charge as the Managing Director/Chief Executive Officer while Chioma A. Mang is Executive Director. While for Polaris Bank Lawal Mudathir Omokayode Akintola will hold the position of Managing Director/ Chief Executive Officer with Chris Onyeka Ofikulu as Executive Director.
“The appointments take immediate effect,” the statement added.
