Union Bank of Nigeria Plc has notified The Nigerian Stock Exchange of the resignation of Mr. Douglas Munatsi, Chief Dickie Ulu and Mr. Saidu Mohammed-Jallo from its Board. Mr. Douglas Munatsi, who was a representative of ADC Enterprises (a member of the UGPL Consortium), resigned following the acquisition of ADC by Atlas Mara Ltd. Chief Dickie Ulu and Mr. Saidu Mohammed-Jallo also resigned following AMCON’s selling off its stake in the Bank to Atlas Mara Ltd. The effective date for these resignations was 24th February, 2015.

The Bank also announced the appointment of four (4) new Directors effective 24th February, 2015 which the Central Bank of Nigeria has approved. They are:

  • Ms Arina McDonald
  • Mrs Beatrice A. Hamza-Bassey
  • John Vitalo
  • Adekunle Sonola.

Ms McDonald, a Chartered Accountant (South Africa), is currently the CFO of Atlas Mara Limited, a new banking group co-founded by Bob Diamond and Ashish Thakkar a premier financial services institution in sub-Sahara Africa.

Beatrice A. Hamza Bassey is a Fellow of the prestigious David Rockefeller, Fellows Program of the Partnership for the City of New York. She is also a member of the Nigerian Bar Association and the American Bar Association. She is presently the General Counsel and Chief Compliance Officer at Atlas Mara Limited and has extensive experience in matters pertaining to corporate governance and financial institutions.

Mr. John Vitalo, a former Executive of Barclays Capital, is presently the Chief Executive Officer of Atlas Mara Co-Nvest Ltd, a company listed on the London Stock Exchange.

Mr. Adekunle Bankole Sonola is an MBA graduate of Durham University Business School Durham, United Kingdom (1999). He is currently the Managing Director, Guaranty Trust Bank, East Africa.