Unity Bank appoints new Director, new Acting Chairman
By Olumide David
Unity Bank Plc has appointed one of the daughters of Olusegun Obasanjo, Iyabo, as a non-executive director.
The bank has also appointed Hafiz Mohammed Bashir as the acting chairman of its Board of Directors.
The appointments followed the retirement of Aminu Babangida as chairman of the Board of Directors and Dr. Oluwafunsho Obasanjo as a non-executive director.
A notice signed by the Company Secretary, Alaba Williams, on Friday said the retirement became effective on March 18, 2023.
The statement said, “This follows the expiration of their tenure as directors on the Board of the Bank and in compliance with the prescribed tenure for Non-Executive Directors under the Central Bank of Nigeria Code of Corporate Governance for Banks.”
Hafiz Bashir, who is the new chairman of Unity Bank, was appointed to the board of the bank on November 21, 2017.
Meanwhile, Stanbic IBTC Holdings Plc has announced a total of N25bn dividend to shareholders at N2.00 per share.
This was further revealed in a corporate notice signed by Company Secretary, Chidi Okezie, on Friday.
The organisation said its board had proposed “a final dividend of N2.00 per ordinary share of 50 kobo each, that is, N25,913,994,326.00, subject to deduction of appropriate withholding tax and approval, will be paid to shareholders whose names appear in the register of members as at the close of business on Monday 03 April 2023.”
In its audited financial statement for 2022, Stanbic IBTC said the group’s gross earnings increased by 39.15 per cent to N287.537bn, profit before tax increased by 52.04 per cent to N100.349bn and profit after tax increased by 41.86 per cent to N80.814bn for the year ended 31 December 2022.
Unity Bank further announced that the chairman of its board of directors, Aminu Babangida, will be retiring from the organisation on March 18.
However, Oluwafunsho Obasanjo, a non-executive director of the bank, will also exit by way of retirement on the same date, according to a statement issued by UBA.
The two board members’ departure “follows the expiration of their tenure as directors on the board of the bank and in compliance with the prescribed tenure for non-executive directors under the Central Bank of Nigeria (CBN) Code of Corporate Governance for Banks,” the document added.
Hafiz Mohammed Bashir, joined Unity Bank in November 2017, he was previously a member of Board Credit Committee, Board Governance & Nomination Committee and Board Risk Management and Audit Commitee.
Mohammed Bashir has profound experience in the public and private sectors, and holds a postgraduate diploma from Abubakar Tafawa Balewa University, Bauchi as well as a Master’s of Business Administration degree from the Business School of Netherlands.
Furthermore, Ms Obasanjo was previously Ogun State’s Commissioner for Health and the Senator representing Ogun Central Senatorial District from June 2007 to June 2011.
She is a graduate of Veterinary Medicine at the University of Ibadan and holds a Master’s in Preventive Veterinary Medicine as well as a PhD Epidemiology, Minor: Immunology from Cornell University, Itacha, New York, USA.
Unity Bank disclosed in the same statement the appointment of Halima Babangida as a non-executive director of the bank.
Ms Babangida is a graduate of Business Management at the AGSB University, Switzerland and Business Administration from Montruex School of Business, Switzerland.
She has cognate experience in stevedoring, logistics, farming/food chain industry and in the real estate and property management businesses,” the statement reads.”
Mr Obasanjo, former ex military president and ex-military President Ibrahim Babangida, who have both ruled Nigeria at different periods in the past, have interests in the lender.
In October 2017, a former Chairman, Board of Directors of the bank, Thomas Etuh, explained the role played by both men as major co-shareholders of the bank.
In a post-retirement interview in Abuja, Mr. Etuh said the successes recorded by the bank at the time did not come without the contributions of both men.
He disclosed that “Obasanjo and Babangida came up with that name ‘Unity’ after the merger of some Southern and Northern banks.
“The merger means a lot for Nigeria’s unity. So, having nine banks from different entities, it behoves on the board to also merge the different banks culture into one; and that, we did to make it a national bank.
“The merged banks are: Bank of the North, Tropical Commercial Bank, Intercity Bank, African Merchant Bank, First Interstate Bank, New Nigerian Bank and Societe General Bank,” he said.
“As everyone can see that it is a flourishing bank in various products which have brought it to stability, and I won’t say it was achieved singlehandedly; it was a collective effort of the board and management,” he added.
