CBN sacks boards of Union Bank, Keystone Bank and Polaris Bank - ITREALMS

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The Central Bank of Nigeria (CBN) has dissolved the Board and Management of Union Bank, Keystone Bank, and Polaris Bank with immediate effect, reports ITREALMS.

This action, according to the acting Director, Corporate Communications at CBN, Sidi Ali Hakama (Mrs) has became necessary due to the non-compliance of these banks and their respective boards with the provisions of Section 12(c), (f), (g), (h) of Banks and Other Financial Institutions Act, 2020.