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Breaking: Central Bank Of Nigeria Confirms Removal Of Union Bank, Keystone Bank, And Polaris Bank Management Teams

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The Central Bank of Nigeria (CBN) has officially announced the dissolution of the board and management of Union Bank, Keystone Bank, and Polaris Bank….CONTINUE READING

 

 

 

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In a statement signed by the acting director of Corporate Communications, Sidi Ali Hakama, the CBN cited non-compliance with the provisions of Section 12(c), (f), (g), (h) of Banks and Other Financial Institutions Act, 2020, as the reason for this move.

The infractions include regulatory non-compliance, corporate governance failure, disregarding license conditions, and engaging in activities threatening financial stability.

The CBN assures the public that depositors’ funds in these banks are secure.

 

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