Kayode Ogunwale

 

Following the removal of management of Keystone Bank, Union Bank and Polaris Bank, the Central Bank of Nigeria (CBN) has announced the appointment of new executives for the trio lenders.

The apex financial regulator in Nigeria in a statement signed by its acting Director, Corporate Communications, Sidi Hakama said, for Union Bank the CBN appointed Yetunde Oni Managing Director/Chief Executive Officer and Mannir Ubali Ringim as the Executive Director.

For Keystone Bank, Hassan Imam is the new Managing Director/ Chief Executive Officer whilst Chioma A. Mang is the Executive Director.

For Polaris Bank, Lawal Mudathir Omokayode Akintola has been appointed the Managing Director/ Chief Executive Officer and Chris Onyeka Ofikulu is now the Executive Director.

Announcing the sacking of the boards of the banks on Wednesday, the CBN said the affected banks allegedly committed varied regulatory infractions, corporate governance failures, disregarded conditions under which their licenses were granted, and were involved in activities that posed a threat to financial stability, among others.

The CBN assured depositors not to panic as their deposits were safe in the impacted banks and other banks.

“For the avoidance of doubt, Nigerian banks remain safe and sound. The CBN encourages the public to continue their regular activities without being alarmed by reports that have not emanated from the CBN about the health status of Nigerian banks” the acting Director, Corporate Communications, CBN, Sidi Hakama said in a statement.

The CBN she said is “fully equipped to carry out its statutory duty of upholding a stable financial system in Nigeria. We assure the general public and depositors about the safety of their funds in Nigerian financial institutions.”

“Bank customers are therefore advised to proceed with their banking transactions as usual, as there is no cause for concern” the statement concluded.