Following the dissolution of the boards of Union, Keystone, and Polaris banks, the Central Bank of Nigeria (CBN) has announced the appointment of new executive officers.
The newly appointed executives for Union Bank are Yetunde Oni, managing director (MD) and chief executive officer (CEO), and Mannir Ubali Ringim, executive director (ED), according to a statement signed on Wednesday by Sidi-Ali Hakama, CBN’s acting director of corporate communication.
According to the CBN, Hassan Imam and Chioma A. Many will lead Keystone Bank’s operations as CEO and ED, respectively.
Polaris Bank’s CEO and ED have also been named by the apex bank, Lawal Mudathir Omokayode Akintola and Chris Onyeka Ofikulu.
According to the regulator, the new executive officers will take over the banks’ operations immediately.
The CBN dissolved the boards of the three banks with immediate effect on January 10, 2023.
The Apex bank cited a variety of infractions ranging from regulatory noncompliance to corporate governance failure, disregarding the conditions under which their licences were granted, and involvement in activities that threaten financial stability, among others.
PROFILES
Imam is set to take over as the CEO and MD of Keystone Bank, succeeding Olaniran Olayinka, who held the position since 2020. With 25 years of banking experience, Imam has demonstrated expertise in expanding market share.
Lawal, the former executive director at Sterling Bank, has a career spanning 25 years. Lawal was previously the CEO of Intermediate Equity Partners Ltd.
Oni, who brings 25 years of experience from leading Union Bank, is known for her role in client solutions, team management, and talent development. Oni started her banking career at Prime Merchant Bank and later joined Ecobank Nigeria.