CBN Dissolves Board Of Union, Polaris, Keystone Bank

The Central Bank of Nigeria has dissolved the board and management of four banks in a move that is seen as the implementation of the report of the Special Investigator on Central Bank of Nigeria (CBN) and Related entities, Jim Obazee.

The banks are Union Bank, Polaris Bank, and Keystone Bank.

The decision to dissolve the boards was taken after a meeting between Yemi Cardoso, Obazee, and the board and management of the four banks.

The dissolution is coming after the investors in Titan Trust Bank refused to honour the invitation to a meeting with the Special Investigator.

All the four banks are involved in the special investigations on how the CBN was run under Godwin Emefiele, the former governor who was ousted soon after President Tinubu took office last May.

Union Bank of Nigeria Plc is facing an uncertain future following the special investigation report on the activities of the central bank under Godwin Emefiele.