CBN appoints new directors of Union, Keystone and Polaris banks

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

The new set of appointments was confirmed by CBN spokesman Hakama Sidi Ali in a 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,” Ali said.

She confirmed that for Union Bank, Yetunde Oni has been appointed as the new Managing Director/CEO and Mannir Ubali Ringim has been appointed as the new Executive Director.

Hassan Imam has been named the new managing director/chief executive officer of Keystone Bank, and Chioma A. Mang has been appointed executive director.

At Polaris Bank, Lawal Mudathir Omokayode Akintola has been appointed as the new Managing Director/CEO and Chris Onyeka Ofikulu has been appointed as Executive Director.

Ali said the appointments take effect immediately.

A CBN official said it had become necessary to dissolve the boards of three commercial banks, Union, Polaris and Keystone, due to “the failure of these banks and their respective boards to comply with the provisions of Sections 12(c), (f), (g) and (h) of the Act on banks and other financial institutions from 2020