Polaris, Union, Keystone Get New CEOs; Titan Trust Bank Left Out

The Central Bank of Nigeria, CBN, has appointed new chief executives for three commercial banks whose managements were sacked on Wednesday.

The apex bank yesterday wielded the big stick on the boards of Union, Polaris, Keystone and Titan Trust Bank citing various infractions.

A statement released by the bank said the decision by the Yemi Cardoso-led CBN to sack the banks’ management was in line with its extant powers.

According to a statement released by the acting Director of Corporate Communications, Sidi Hakama, on Thursday morning, the CBN said it has appointed Lawal Mudathir Omokayode Akintola as the Chief Executive Officer of Polaris Bank and Chris Ofikulu as its Executive Director.

Yetunde Oni as the chief executive of Union Bank, while Mannir Ubali Ringim was selected as the Executive Director, while Hassan Imam has been appointed chief executive, and Chioma Mang as Executive Director.

The statement read, “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;

“Union Bank: Yetunde Oni – Managing Director/Chief Executive Officer Mannir Ubali Ringim – Executive Director

“Keystone Bank: Hassan Imam – Managing Director/ Chief Executive Officer Chioma A. Mang – Executive Director

“Polaris Bank: Lawal Mudathir Omokayode Akintola – Managing Director/ Chief Executive Officer Chris Onyeka Ofikulu – Executive Director

“The appointments take immediate effect,” the CBN stated.

Meanwhile, the apex bank has yet to appoint a new management for Titan Trust Bank whose management was removed alongside others on Wednesday.