The Central Bank of Nigeria (CBN) has appointed m new executives for Union Bank, Keystone Bank, and Polaris Bank.
The apex bank made the announcement in a statement signed on Wednesday by its acting Director of Corporate Communications, Sidi Ali Hakama.
She said the appointments follow the dissolution of the board and management team of the three financial institutions.
According to Hakama, the appointees would oversee the affairs of the three banks, adding that the appointments are with immediate effect.
Appointees for Union Bank are listed below;
Yetunde Oni – Managing Director/Chief Executive Officer
Mannir Ubali Ringim – Executive Director
Appointees for Keystone Bank are listed below;
Hassan Imam – Managing Director/Chief Executive Officer
Chioma A. Mang – Executive Director
Appointees for Polaris Bank are listed below;
Lawal Mudathir Omokayode Akintola – Managing Director/Chief Executive Officer
Chris Onyeka Ofikulu – Executive Director.
The apex bank, in a statement signed by its acting director of Corporate Communications, Sidi Ali Hakama, said the move became necessary 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.
The apex bank stated that the funds of depositors in the affected banks are safe and unaffected by the decision.
It added that the banks got themselves involved in activities that pose a threat to financial stability.
