CBN appoints new executives for Union, Keystone, Polaris banks

The Central Bank of Nigeria (CBN) has appointed new executives for Union, Polaris, and Keystone banks following the dissolution of their management and boards on Wednesday.

The new set of appointees were confirmed in a statement by CBN spokesperson Hakama Sidi Ali.

“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,” Ali announced.

She confirmed that for Union Bank, Yetunde Oni has been appointed as the new Managing Director/Chief Executive Officer while Mannir Ubali Ringim is the new Executive Director.

Hassan Imam is the new Managing Director/Chief Executive Officer of Keystone Bank with Chioma A. Mang appointed as an Executive Director.

Polaris Bank has Lawal Mudathir Omokayode Akintola as the new Managing Director/Chief Executive Officer while Chris Onyeka Ofikulu has been appointed as an Executive Director.

Ali said the appointments take immediate effect.

The CBN official said it became necessary to dissolve the boards of the three commercial banks, Union, Polaris and Keystone due to “non-compliance of these banks and their respective boards with provisions of sections 12(c), (f), (g) and (h) of Banks and Other Financial Institutions Act, 2020.”