The Central Bank Of Nigeria has sacked the boards of directors of Union, Polaris and Keystone Banks.
The Sack of the boards was contained in a statement by the bank from its acting Director of Corporate Communications, Sidi Ali Hakama,
The bank predicated the sack of the boards on their non compliance with Section 12(C, F,G,H) of the Banks and Other Financial Institutions Act of 2020 as amended.
The apex bank added that the non compliance ranges from regulatory non compliance to failure of corporate governance, involvement in activities detrimental to financial systems stability and disregarding conditions attached to their operating licenses among Others.
The bank assures members of the public that depositors funds in the affected banks are safe and that the action taken was to ensure the continuing stability of the sector.
It assures all Nigerians, investors and stakeholders in the sector that it will continue to do the right things to safeguard the sector and their interests.
