The Central Bank of Nigeria (CBN) has appointed new executive directors for several deposit money banks following the dissolution of the boards of Polaris, Union, and Keystone banks.
The appointments, effective immediately, include Yetunde Oni as CEO of Union Bank, Mannir Ubali Ringim as Executive Director for a tier-2 bank, Hassan Imam as CEO of Keystone Bank, Chioma Mang as Executive Director for Keystone Bank, Lawal Mudathir Omokayode Akintola as CEO of Polaris Bank, and Chris Ofikulu as Executive Director for Polaris Bank.
This decision follows the recommendation of Special Investigator Jim Obazee, appointed by President Bola Tinubu in July 2023, to investigate CBN and other relevant establishments.
The apex bank cited regulatory non-compliance, corporate governance failure, license conditions violation, and threats to financial stability as reasons for dismissing the boards of the four banks.
