Mixed reactions as CBN dismisses 3 banks’ board of directors.
![Image](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtXEpjVLZwPSM-yKFb-wTW6bKEgZpsKq0_w7VYWgBkGgWTpToz0DYGO1GVmNnfOJhQmpxr-NQJNIbpQiTGCUgJJRu3uH9VsCqqimA2jvt27y3ThgCX-1_SSKlnMP1Zo-d1zL5gWhL_Onrdrb1NPbLA6cM9_Q_jQaa6dMWHo1ZMTVXgaZujeGCITcmkIqRj/s320/Untitled%20design%20(1)%20(1).webp)
Mixed reactions as CBN dismisses 3 banks’ board of directors. HomeMixed reactions as CBN dismisses 3 banks’ board of directors. Mixed reactions as CBN dismisses 3 banks’ board of directors. 0 Gen-Z Journo 📰 January 18, 2024 Reactions to the Central Bank of Nigeria's (CBN) removal of the three commercial banks' previous boards of directors and appointment of new directors and management have remained polarized. According to certain stakeholders, the development has little to no detrimental effects on the industry. The CBN fired the management teams and board of Union Bank, Keystone, and Polaris on Wednesday, January 10, citing serious infractions of financial norms. The CBN claims that the banks' and their boards' failure to abide by the "provisions of Section 12 (c), (f), (g), and (h) of the Banks and Other Financial Institutions Act, 2020" was the reason for the dismissal. As a result, the CBN named new executive directors to lead these financial instit