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Obinna Chima
Atlas Mara Limited, an international financial services company that was formed to undertake investment in targeted banks in Africa, is considering options for its stake in Union Bank Nigeria Plc after receiving takeover interest, Bloomberg reported.
The initial approaches for Atlas Mara’s 49.97 per cent holding in the bank came from local lenders looking to expand in Africa’s biggest economy, the people said, asking not to be identified as deliberations are private.
The firm is working with Rothschild & Co. and no final decision has been made on a potential sale or any other alternatives, they said.
Representatives for Atlas Mara and Rothschild declined to comment.
Vanguard News Translate
Union Bank’s CEO, Emuwa retires as Okonkwo takes over
On
Union Bank of Nigeria
THE Board of Union Bank Nigeria Plc has announced that its Chief Executive Officer, Emeka Emuwa, has communicated his decision to retire from the Bank on March 31, 2021.
To this effect, the Board has also announced Emeka Okonkwo as his successor.
Emuwa joined Union Bank in November 2012, following a $500 million investment by Union Global Partners; with a mandate to transform restore one of Nigeria’s oldest institutions back to its rightful position as a respected provider of financial services.
According to a statement from the bank, “With his imminent departure, the Board has appointed Emeka Okonkwo, an Executive Director currently leading the Bank‘s Corporate Banking business, to succeed him. The appointment is subject to the approval of the Central Bank of Nigeria.”
Board Appoints Executive Director, Emeka Okonkwo, as Successor
LAGOS, NIGERIA – The Board of Union Bank Nigeria Plc announces today that, after eight years leading the Bank, its Chief Executive Officer, Emeka Emuwa, has communicated his decision to retire from the Bank and his role as CEO on March 31, 2021.
Emeka Emuwa joined Union Bank in November 2012, following a $500 million investment by Union Global Partners, with a mandate to transform and restore one of Nigeria’s oldest institutions back to its rightful position as a respected provider of financial services.
With his imminent departure, the Board has appointed Emeka Okonkwo, an Executive Director currently leading the Bank‘s Corporate Banking business, to succeed him. The appointment is subject to the approval of the Central Bank of Nigeria.
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