The Central Bank of Nigeria (CBN) has named Yetunde Oni as Union Bank Plc’s new Managing Director and CEO.
This declaration follows the recent dissolution of the boards and management of three major banks: Union Bank, Keystone Bank, and Polaris Bank.
The CBN’s acting director of corporate communications, Sidi-Ali Hakama, issued a circular dated January 10, 2024.
Oni succeeds Mudassir Amray, the former CEO of Union business, and brings with her a new approach to leading the business forward.
Yetunde Oni’s appointment comes at a difficult moment for Union Bank, which is currently struggling with the repercussions of its takeover by Titan Trust Bank (TTB).
In December, Jim Obazee, the Special CBN Investigator, questioned Babatunde Lemo, chairman of Titan Trust Bank, about the transaction.
Although Titan Trust Bank denied any misconduct, the event has heightened tensions around Union Bank’s leadership shift.
Oni’s entry adds a fresh element of uncertainty to the bank’s leadership change in these areas.
Experience
Yetunde Oni has more than 25 years of expertise in banking. She graduated from the University of Ibadan with an Economics degree, then went on to finish Executive Training at Oxford University in 2016 and an MBA from Bangor University in 2020.
She excels at creating solutions for clients, leading teams, and developing talent.
Oni began her career with Prime Merchant Bank in the Treasury & Money Markets Group before moving on to Ecobank Nigeria, where she worked for 11 years as a Relationship Manager in the Institutional Banking Group.
She was instrumental in driving commercial growth at Ecobank, as well as revalidating and implementing the bank’s strategic plan.
She started working as a Senior Account Relationship Manager at Standard Chartered Bank Nigeria in 2005. She immediately assumed the dual duties of Wholesale Banking Branch Head and Head of the Bank’s Local Corporate Portfolio in Apapa and Ogun State.
She was promoted to Head of Local Corporates in 2010, where she was responsible for developing long-term client relationships and increasing profitability.
By 2014, Oni has advanced to the position of Managing Director and Country Head of Commercial Banking in West Africa at Standard Chartered Bank.
During her seven-year position, she was in charge of promoting corporate growth, maintaining critical relationships, and ensuring compliance with banking rules.
Before joining Union Bank, Oni was the first female Managing Director and CEO of Standard Chartered Bank in Sierra Leone, a position she assumed in January 2021.
