CENTRAL BANK OF NIGERIA SACKS FIVE BANK DIRECTORS


From Naijaloft In a move to protect the interests of depositors The Central Bank of nigeria has removed the managing directors/executive directors of the following banks
Afribank Plc
Intercontinental Bank Plc
Union Bank of Nigeria Plc
Oceanic International Bank Plc
Finbank Plc
The announcement of the sack of the super CEOs is coming on the heel of revelations that the former Central Bank of Nigeria governor, Charles Soludo, provided soft loans to the affected banks. The CBN under Soludo gave Oceanic bank (N80 billion), Intercontinental bank (N72 billion), Skye bank (N60 billion) and FinBank (N40 billion). The sacked super CEOs are: Erastus Akingbola (Intercontinental Bank); Okey Nwosu (Finbank); Sebastian Adigwe (Afribank); Mrs Cecelia Ibru (Oceanic Bank); and Bartholomew Ebong (Union Bank).

The Board of the Central Bank of Nigeria has also appointed the following as the MD/CEOs of the affected banks:
Mr. John Aboh – MD/CEO, Oceanic International Bank Plc
Mr. Mahmud L. Alabi – MD/CEO, Intercontinental Bank Plc
Mr. Nebolisa Arah – MD/CEO, Afribank Plc
Mrs. Suzanne Iroche – MD/CEO, Finbank Plc
Mrs. Funke Osibodu – MD/CEO, Union Bank Plc
Each of the above will head a management team that will include Executive Directors and Chief Financial Officers to be appointed by the central bank of nigeria CBN. This team is tasked with continuing the businesses of the banks as a going concern. I, therefore, appeal to the boards of the affected banks, in their own interest, to cooperate with the newly appointed Executive Management.

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