Shock and fear have gripped staffers of Titan Trust, Union, Keystone and Polaris Banks following the Wednesday, January 10, 2023 sacking of their Managing Directors and Boards by the Central Bank of Nigeria, now headed by Yemi Cardoso.
The reason is that some of them will definitely be out of jobs as their replacements will be coming with their own teams.
It would be recalled that the Boards of Directors and Chief Executives of the four banks were invited to a meeting that started at about 1pm on Wednesday where they were addressed for 30 minutes each by the apex bank’s Deputy Governor Financial System Stability, Phillip Ikeazor, alongside three other Deputy Governors, Emem Usoro, Muhammad Dattijo and Bala Bello. Thereafter their sack was announced.
The dissolution of the boards, we learnt, may be based on the implementation of the Jim Obazee report which earlier made recommendations to President Bola Tinubu, who had ordered the probe of the apex bank and related institutions upon his assumption of office, after being inundated with reports of the alleged corruption that happened during the tenure of Godwin Emefiele.
We further learnt that at the meeting, the CBN itemized alleged issues of non-compliance and other infractions committed by the affected banks before kicking out their boards.
New boards were yet to be announced for the four banks at the time of writing this.