The CBN had earlier on Wednesday dissolved the board and administration of Union Financial institution, Keystone Financial institution and Polaris Financial institution as a result of their non-compliance with BOFIA 2020.
The Central Financial institution of Nigeria (CBN) has appointed new leaders for 3 Nigerian banks whose boards and managements have been dissolved on Wednesday.
In a press release late Wednesday, Hakama Sidi Alli, the appearing director of company communications on the CBN, named Yetunde Oni as the brand new managing director/chief govt officer of Union Financial institution and Mannir Ubale Ringim as govt director.
Additionally named is Hassan Imam, who will take the helm as managing director and chief govt officer of Keystone Financial institution. Chioma A. Mang will function govt director of the financial institution.
A brand new management crew was additionally introduced for Polaris Financial institution, with Lawal Mudathir Omokayode Akintola appointed managing director/chief govt officer and Chris Onyeka Ofikulu named govt director.
The appointments take instant impact, the CBN assertion mentioned.
The central financial institution didn’t present biographies of the brand new appointees. Nonetheless, a fast net search by PREMIUM TIMES exhibits that Yetunde Oni (Union Financial institution) was till her appointment the managing director/chief govt officer at Normal Chartered Financial institution, Sierra Leone, whereas Hassan Imam (Keystone Financial institution) served as an govt director at Constancy Financial institution.
Omokayode Mudathir Akintola Lawal, the brand new man answerable for Polaris Financial institution, was govt director at Sterling Financial institution and was till his new appointment the CEO at Lagos-based Intermediate Fairness Companions Ltd.
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The brand new govt director at Union Financial institution, Mannir Ubale Ringim, was deputy normal supervisor/ regional financial institution head, North West 1 at Constancy Financial institution. In distinction, Chioma A. Mang, the brand new govt director at Keystone Financial institution, served as managing director on the United Financial institution for Africa, Sierra Leone. Chris Onyeka Ofikulu, who takes workplace as govt director at Polaris Financial institution, was regional CEO of UBA West Africa.
The CBN had earlier on Wednesday dissolved the board and administration of Union Financial institution, Keystone Financial institution and Polaris Financial institution as a result of what it described as their “non-compliance with the provisions of Part 12(c), (f), (g), (h) of Banks and Different Monetary Establishments Act, 2020”.
“The financial institution’s infractions range from regulatory non-compliance, company governance failure, disregarding the situations below which their licenses have been granted, and involvement in actions that pose a menace to monetary stability, amongst others,” the regulator mentioned whereas additionally assuring depositors and the general public of the security and safety of their funds.
The CBN additionally restated its resolve to uphold a protected, sound, and strong monetary system in Nigeria, saying the banking system of Africa’s largest economic system stays sturdy and resilient.
