Banking Finance

Unity Bank appoints new chairman, Obasanjo’s daughter as director

Unity Bank Plc has appointed Hafiz Mohammed Bashir as the acting chairman of its Board of Directors.
Iyabo, one of the daughters of former President, Olusegun Obasanjo, was also appointed as a non-executive director.
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.”
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 ₦2.00 per share.
This was 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 ₦287.537bn, profit before tax increased by 52.04 per cent to ₦100.349bn and profit after tax increased by 41.86 per cent to ₦80.814bn for the year ended 31 December 2022.

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