The Federal Government yesterday took over three commercial banks – Union, Polaris and Keystone – following the dissolution of their management and boards by the Central Bank of Nigeria. In a statement signed by the Acting Director of corporate Communications, Hakama Sidi Ali, the bank said the action became necessary due to “non-compliance of these banks and their respective boards with provisions of sections 12(c), (f), (g) and (h) of Banks and Other Financial Institutions Act, 2020”. “The banks’ infractions vary from regulatory non-compliance, corporate governance failure,…
Read MoreCBN sacks boards of Union, Keystone, Polaris banks
