Nigerian Bank Updates Customers as New CEO Resumes After CBN Shake-up

• Union Bank of Nigeria has witnessed the resumption of new leadership to lead the management of operations
• The bank, in a statement, said it is committed to offering good services and also adhere to the CBN's corporate governance
• Its new CEO, Yetunde Oni, the first female managing director and CEO at Standard Chartered Bank in Sierra Leone

Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.

Union Bank of Nigeria has informed its clients, partners, and important stakeholders that it will continue to provide exceptional service and run smoothly as its new leadership resumes office.

Recently, the Central Bank of Nigeria (CBN) appointed Yetunde Oni as the bank's new chief executive officer (CEO) and managing director.

More details about CBN's major shakeup

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Union Bank assures customers

The bank assured its clients that as a reputable financial company in Nigeria's banking sector, it would continue to offer the highest caliber of services while adhering to the CBN's requirements for corporate governance.

The Punch reported that the bank promised that under its new leadership, it would maintain and advance programs that would boost good company growth and enable customer success going forward.

Yetunde Oni resumes office

Days after her appointment, Oni has resumed office as the bank's CEO/MD. The new CEO pledged to uphold the bank's reputation as a distinctly Nigerian establishment that is unwavering in its dedication to fostering prosperity for its large clientele.

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Until her appointment with Union Bank, Premium Times reported that she was the first female managing director and CEO at Standard Chartered Bank in Sierra Leone.

The bank has been in operation in the country since 1894.

In a statement, it said:

“Union Bank is an iconic financial institution with over 106 years of history providing top banking services to the Nigerian people. Under my stewardship, we will maintain our proud heritage and continue to be part of the growth and the success story of Nigeria and its people for the foreseeable future.”

The bank also guaranteed uninterrupted access to its superior, cutting-edge products and services and seamless operations throughout its nationwide branch network.

Additionally, it reassured depositors that their money would be secured. It also encouraged them to use the different channels available for any questions or help address any issues.

Union Bank placed under 'negative watch'

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Legit.ng earlier reported that Fitch Ratings placed the bank's Issuer Default Ratings (IDRs), Viability Rating (VR), and National Ratings on Rating Watch Negative (RWN).

Companies placed on RWN have circumstance(s) that might cause a rating agency to downgrade its credit rating soon.

The rating agency reported that this became necessary following the Central Bank of Nigeria's (CBN) announcement on January 10 that it had dissolved the board and management of three Nigerian banks, including Union Bank.

Source: Legit.ng