The Central Bank of Nigeria (CBN) has reportedly sent packing the boards of four banks. The banks are Union Bank of Nigeria, Titan Trust Bank, Keystone Bank and Polaris Bank.
According to reports reaching The Nigerian Xpress Newspaper this evening, the decision to dissolve the boards was taken after a meeting between the CBN Governor, Yemi Cardoso, government appointed Special Investigator of the apex bank, Jim Obazee, and the board and management of the four banks.
Two of the banks, Union and Titan have been in the eye of the storm of late with allegations that the sacked CBN Governor, Godwin Emefiele compromised laid down procedures in their acquisition and set up.
