Oni’s appointment was contained in the announcement made on Wednesday by Sidi-Ali Hakama, the acting director of Corporate Communication at the Central Bank of Nigeria (CBN), through a circular dated January 10, 2024.

The appointment comes at a tumultuous time, following the dissolution of the Board and Management of three prominent banks, including Union Bank, Keystone Bank, and Polaris Bank. “We are confident in Yetunde Oni ’s abilities to lead Union Bank in these challenging times,” stated Hakama. “Her extensive experience in the banking industry is what Union Bank needs to navigate the current situation.”

Profile – Yetunde Oni

Yetunde Oni’s arrival as the new CEO adds a new dimension to the ongoing issues surrounding the acquisition of Union Bank by Titan Trust Bank (TTB). She replaces Mudassir Amray, the former CEO, amid heightened scrutiny over the bank’s acquisition.

Yetunde Oni, a seasoned professional with over 25 years in the banking sector, is known for her dynamic leadership and expertise in client solutions and team management.

Education

Yetunde Oni ‘s academic credentials include an Economics degree from the University of Ibadan and an MBA from Bangor University, complemented by executive training at Oxford University.

Career

Oni’s career began at Prime Merchant Bank Treasury & Money Markets Group, followed by an 11-year stint at Ecobank Nigeria as a Relationship Manager. She joined Standard Chartered Bank Nigeria in 2005, where she held various key positions, culminating in her role as the Managing Director & Country Head of Commercial Banking in West Africa.

Before joining Union Bank, Oni was the first female Managing Director and CEO at Standard Chartered Bank in Sierra Leone.

“This appointment is a testament to Yetunde Oni’s remarkable career and the value she brings to the banking industry,” said a spokesperson from Union Bank. “Her leadership is vital in steering Union Bank towards a future of growth and stability.”

In a statement by Mrs Sidi Ali, Hakama, the acting director of Corporate Communication of CBN, on the Bank’s verified X handle @cenbank says the newly appointed executives are to assume their roles with immediate effect.

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 Central Bank of Nigeria (CBN) had dissolved the Board and Management of Union Bank, Keystone Bank, and Polaris Bank on Wednesday.

Acting Director, Corporate Communications, Mrs Sidi Hakama in a statement says the action 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.