THUR, JAN 11 2024-theGBJournal|The Central Bank of Nigeria (CBN) has appointed new executives to oversea the affairs of Union Bank, Keystone Bank and Polaris Bank following the dissolution of the Board and Management of the banks on Wednesday.
The apex bank announced Yetunde Oni as new Managing Director/ Chief Executive Officer and Mannior Ubali Ringim, Executive Director.
Hassan Imam is to pilot the affairs of Keystone Bank as new Managing Director/Chief Executive Officer while Chioma A. Mang is announced as Executive Director.
Similarly, Lawal Mudathir Omokayode Akintola has been put in charge of Polaris Bank as new Managing Director/Chief Executive Officer while Chris Onyeka Ofikulu will serve as an Executive Director.
The CBN said the appointments take immediate effect.
Recall that the CBN dissolved the Board of the lenders for their ”non-compliance with the provisions of Section 12 (c), (f), (g), (h) of the Banks and Other Financial Institutions Act, 202.”
The CBN said 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 poses a threat to financial stability, among others.
Following the shake up, the CBN assured the public of the safety and security of depositors’ funds and reiterated its commitment to ensure a safe, sound, and robust financial system in Nigeria.
It equally reassured that the nation’s banking system remains strong and resilient.
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