Wednesday, Jan 27th 2021 3:25 PM

Market Digest Nigeria


Okonkwo takes over from Emuwa as C.E.O. of Union Bank

The Board of Union Bank Nigeria Plc has announced its Chief Executive Officer, Emeka Emuwa, would be retiring from the bank as CEO on March 31, 2021, after eight years on the saddle.

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. Consequently , the Board has appointed Emeka Okonkwo, an Executive Director in charge of  the bank‘s Corporate Banking business, to succeed him. Okonkwo’s appointment is subject to the approval of the Central Bank of Nigeria.

Commenting on his retirement, Emeka Emuwa said; “I have enjoyed the significant challenge of leading Union Bank over the last eight years. I am extremely proud of the management team and what we have been able to accomplish during my time as CEO. Today, we have a strong bank that is well positioned to compete and deliver on its vision to be ‘Nigeria’s most trusted and reliable partner.’ With a clear strategic direction, a growing and loyal customer base and a strong brand, this is now the natural time for the next generation of leadership to take Union Bank forward and deliver further value. In over three decades of banking, my time at Union Bank has been one of the richest experiences in a long and fulfilling career with a treasure of work and life lessons to carry into the future.

Together as a team, we scaled many hurdles and accomplished significant feats and I would like to thank my Executive team, senior management and every one of our employees for their integrity, support and hard work that have brought Union Bank to where it is today”.

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