According to the CBN, the dismissal followed the
non-compliance of the banks and their respective boards with “provisions of
Section 12 (c), (f), (g), (h) of the Banks and Other Financial Institutions
Act, 2020.
Here are the names of the affected board members:
Union bank
Farouk Gumel. Board Chairman
Mudassir Amray, managing director/Chief executive officer
(MD/CEO)
Aisha Abubakar, non-executive director.
Andrew Ojei, non-executive director.
Abubakar Mohammed, non-executive director.
Mackombo Omoile
Joe Mbulu. Chief financial officer and Farouk Gume
Titan Trust Bank Limited is the highest shareholder in Union
Bank
In May 2023, Union Bank received an offer from its core
shareholder, Titan Trust Bank Limited, to acquire the shares of all minority
shareholders in Union Bank after the completion of the core investors’ sale of
a majority shareholding to Titan Trust Bank Limited, a subsidiary of TGI Group.
Keystone Bank Board of Directors
Umaru H. Modibbo, chairman
Titilayo Tairat Adebiyi, non-executive director
B.B.Dan-Jabu, non-executive director
Dahiru Chadi, independent non-executive director
Olaniran Olayinka, managing director/ chief executive
officer
Adeyemi Odusanya, executive director, south & corporate
directorate,
Lawal Jibrin Ahmed, executive director, north & public
sector and
Gemi Aribaloye, executive director, Group risk management
The bank was previously owned by the Asset Management
Corporation of Nigeria (AMCON), an arm of the Federal Government of Nigeria.
Sigma Golf River Bank Consortium owns the bank after being acquired from the
Asset Management Corporation of Nigeria (AMCON) in March 2017.
Board of directors of Polaris bank
MK Ahmad, Chairman
Abubakar Danlami Suleiman, Non-executive director
Salma Mohammed, non-executive director
Adeleke Alex Adedipe, non-executive director
Ahmed Almustapha, non-executive director
Francesco Cuzzocrea, non-executive director
Olabisi Olubunmi Odunowo, non-executive director
Adekunle Sonola, executive , managingdirector/CEO,
Abdullahi S Mohammed, executive director, and
Segun Opeke, executive director.
In October 2022, the bank was acquired by Strategic Capital
Investment Limited (SCIL).
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