CBN Sacks Boards Of Union, Keystone, Polaris And Titan Banks.


The Central Bank of Nigeria (CBN) has sacked the boards of Union Bank, Polaris Bank, Keystone Bank and Titan Trust Bank.

The boards of directors and chief executives of the banks were invited to a meeting on Wednesday, January 10 where they were addressed for 30 minutes each by the apex bank’s Deputy Governor in charge of Financial System Stability, Phillip Ikeazor.

Three other governors formed the panel that addressed the bank executives. They include the Deputy Governor in charge of Operations, Emem Usoro, the Deputy Governor in charge of Economic Policy, Muhammad Abdullahi and the Deputy Governor in charge of Corporate Services, Bala Bello.

This followed the recent report of the Special Investigator on Central Bank of Nigeria (CBN) and Related entities, Jim Obazee.

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