Keystone banks

Following the dissolution of the boards and management of three banks – Polaris, Union and Keystone – Omokayode Lawal was appointed as Polaris Bank’s new managing director/chief executive officer. The move followed the recommendations of Jim Obazee, a special investigator appointed to look into the affairs of CBN by President Bola Tinubu in July 2023. Mr Obazee’s mandate was to investigate the operations of the CBN and other relevant institutions. In its announcement on Wednesday, the CBN accused the banks of…

The Central Bank of Nigeria has sacked the entire Board of Directors governing Polaris, Union and Keystone Banks. The CBN announced the decision in a statement Wednesday night. The action is expected to have followed the recommendation of the Special Investigator, Jim Obazee, appointed by President Bola Tinubu in July 2023. Mr Obazee was appointed to probe the activities of the CBN and other relevant establishments. The CBN in its statement Wednesday accused the banks of regulatory non-compliance,…