The Central Bank of Nigeria has appointed new executive directors to oversee the operations of Polaris, Union, and Keystone banks, shortly after dissolving their respective boards of directors.
The appointment, which takes immediate effect, was communicated in a statement by the acting Director of Corporate Communications, Sidi Hakama.
Yetunde Oni, the first female CEO of Standard Chartered bank in Sierra Leone, has been appointed as the Chief Executive Officer of Union Bank, while Mannir Ubali Ringim has been selected as the Executive Director of the tier-2 bank.
For Keystone Bank, Hassan Imam has been appointed as its Chief Executive Officer, with Chioma Mang assuming the position of Executive Director.
Likewise, Lawal Mudathir Omokayode Akintola has been appointed as the Chief Executive Officer of Polaris Bank, with Chris Ofikulu named as its Executive Director.
According to the CBN statement, “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.”
Recall that the apex bank sacked the entire board of four banks for various infringements of financial laws, such as regulatory non-compliance, corporate governance failure, and involvement in activities that threatened financial stability, among others.
These actions were taken following the recommendation of the Special Investigator, Jim Obazee, who was appointed to probe the activities of the CBN and other relevant establishments. The report of the investigation accused the former Governor of the apex bank, Godwin Emefiele, of acquiring banks for himself through proxies.
