The appointment of four new directors by the Union Bank of Nigeria (UBN) have been approved by the Central Bank of Nigeria (CBN). The new directors are Arina McDonald, Beatrice A. Hamza- Bassey, John Vitalo and Adekunle Sonola.
According to the bank, Mcdonald is a South African and a professional banker with diverse skills and experience in both South Africa and internationally.
Also, three directors have resigned from UBN board in an issuer’s announcement to the Nigerian Stock Exchange (NSE). They are Douglas Munatsi, Dickie Ulu and Saidu Mohammed-Jallo. Munatsi, who was a representative of ADC Enterprises, a member of the UGPL Consortium, resigned following the acquisition of ADC by Atlas Mara Limited. While Ulu and Mohammed-Jallo resigned following AMCONs selling off its stake in the bank to Atlas Mara Ltd.