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See executives of some Nigerian banks newly appointed by CBN

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New executive members have emerged for some banks in Nigeria.

This follows their appointment by the Central Bank of Nigeria which announced the development.

The affected banks are Union Bank, Keystone Bank and Polaris banks. The boards of the banks were dissolved on Wednesday.

The acting director of Corporate Communication, Sidi-Ali Hakama, made this disclosure in a circular dated January 10 2024.

According to the CBN, the new executive officers will now oversee the affairs of the banks.

In addition, the apex bank noted that the appointment will take effect immediately.

The CBN said,  “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 bank;

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 Central Bank of Nigeria officially dissolved the Board and Management of three prominent banks — Union Bank, Keystone Bank, and Polaris Bank.

The apex bank cited several concerns leading to this decision, including regulatory non-compliance, failures in corporate governance, and involvement in activities threatening financial stability.

“This action became necessary due to the non-compliance of these banks and their respective boards with the provisions of Section 12©, (f), (g), (h) of the Banks and Other Financial Institutions Act, 2020. The Bank’s infractions vary from regulatory non-compliance, corporate governance failure, disregarding the conditions under which their licenses were granted, and involvement in activities that pose a threat to financial stability, among others.” Mrs. Sidi Ali, Hakama, the Acting Director of Corporate Communications at the CBN said.

In December 2023, the Special CBN Investigator, Jim Obazee, summoned Titan Trust Bank’s (TTB) chairman, Babatunde Lemo, for questioning regarding TTB’s acquisition of Union Bank of Nigeria Plc (UBN).

The special investigator had in his report alleged that some persons were used as proxies by a former CBN Governor, Godwin Emefiele, to set up Titan Trust Bank and acquire Union Bank

However, Titan Trust Bank issued a press release denying any wrongdoing.

A leaked report by the Special Investigation on the Central Bank of Nigeria and other entities also alleged financial and legal irregularities within the Central Bank of Nigeria (CBN) under the leadership of Godwin Emefiele.

 

 

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Generator fumes suspected for death of UNN students

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Strong indications has emerged that the use of a generator in a poorly ventilated environment may have caused the death of some students of the University of Nigeria, Nssuka.

The suspicion emerged after a survivor of the incident disclosed that a generator was operating outside the corridor of the apartment where they gathered, while the doors and windows remained shut.

According to the 24-year-old survivor, an Art Education student, about 10 people attended the party organised by his friend, David, to celebrate the completion of his final examinations.

The gathering reportedly started around 11:30 a.m. at the host’s residence in the Hilltop area of Nsukka, with participants sharing alcoholic drinks and playing Truth or Dare.
Recounting his experience, the survivor said he suddenly lost consciousness after helping one of the participants who had vomited and returning to clean the floor.

He disclosed that his legs had become stiff and he could no longer walk before eventually passing out. The student said he regained consciousness at about 9 p.m., only to discover that his friends were lying motionless on the floor.

“When I regained consciousness at about 9 p.m., I heard someone saying that the host was shaking. I woke up and managed to look into the parlour, where I saw the host and other participants lying on the floor,” he recounted.

He said he subsequently contacted friends for assistance, before one of them eventually helped convey the affected students to Bishop Shanahan Hospital and other medical facilities in Nsukka.

The survivor further explained that the apartment was poorly ventilated, with the doors and windows shut, while a generator was running outside in the corridor. A fan was also operating inside the room.

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Speed Darlington begs Burna Boy to drop case

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Nigerian singer, Darlington Okoye popularly known as Speed Darlington, has apologised to Grammy-winning musician, Damini Ogulu, popularly known as Burna Boy, asking him to withdraw the charges against him and promising to stop making comments about his sexuality.

Speed Darlington made the appeal in a video posted on his Instagram page on Thursday, in which he expressed regret over the pain and embarrassment he might have caused the singer.

“This video is for Burna Boy. Burna, this is an apology video. I apologise for any pain that I have caused you. Any shame that I have caused you,” he said.

The singer admitted that he was wrong to assume that everyone had the same temperament, adding that he wanted an end to their disagreement.

“I made the mistake of thinking that everybody vibrates at the same frequency. That’s wrong of me. I apologise, Burna Boy,” he added.

He further pledged to refrain from making both direct and indirect comments about Burna Boy’s sexuality, making the withdrawal of the charges a condition for his promise.

“I give you my word that if you withdraw all charges and let everything die, I give you my word that I will never make any direct comment regarding your sexuality. “Even indirect comment. I will no longer try sustain. I give you my word. Let peace reign,” he said.

Speed Darlington also promised not to mention the singer’s name again if the legal dispute was resolved.

“I promise I will never use my mouth to mention your name,” he added.

 

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Why I left Peter Obi- Yinusa Tanko

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Yinusa Tanko, former national coordinator of the Obidient Movement, says he experienced a betrayal of trust and loyalty in Peter Obi’s camp, which led to his exit from the movement.

Tanko spoke on Thursday shortly after his unveiling as the coordinator of the Social Democratic Party (SDP) presidential campaign council.

Obi, presidential candidate of the Nigeria Democratic Party (NDP), appointed Tanko as national coordinator of the Obidient Movement in September 2024, following a consensus to zone the position to the north.

He was later redeployed as Obi’s political adviser (north), a position he held until October 30, when he resigned.

However, Tanko said he never wanted to leave Obi’s camp, insisting that he was pushed out rather than choosing to exit the movement.

Tanko said although he appreciated the opportunity to serve Obi, he could not remain in a political group where his contributions were no longer valued.

“Well, you know, as you move along in politics, there may be a time when your group does not want you, does not need you or does not appreciate what you do,” he said.

“You don’t stay where you are being tolerated; you go where you are appreciated.

“As far as I’m concerned, I appreciate all the work I have done, and I appreciate him for giving me the opportunity. But the only thing I have suffered in that particular movement is betrayal of trust and betrayal of loyalty.”

Tanko said he served the former Anambra governor with diligence, honesty and integrity, adding that he still held him in high regard despite the circumstances surrounding his departure.

“Everybody knows that I have served with diligence, determination, honesty and integrity. That was how I served Peter Obi, and I continue to respect him,” he said.

“But now, since they don’t want me, people who appreciate me have picked me from the dustbin and made me a bride.”

Asked whether Obi would be pleased to see him in another political party, Tanko said he could not determine what was on the former governor’s mind.

“You cannot say what is on his mind; only he can speak for himself,” he said.

He added that his new political associates had recognised his contributions to nation-building and offered him another opportunity to serve.

 

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