CBN approves non-executive directors for Unity Bank

The Central Bank of Nigeria (CBN) recently approved the appointment of additional non-executive directors, including one independent director, to sit on the board of Unity Bank plc. The new directors who will be joining the board are: Sam N. Okagbue, Yabawa Lawan Wabi, Dauda N. Iliya, and Priya Heal.

Sam N. Okagbue, who is an independent director, is a legal professional. He is the managing partner and founding member of the law firm; George Ikoli and Okagbue (GI&O). He holds an LL.B from University of Ife, and an LLM from University of London, London School of Economics, and has a career spanning over three decades beginning with the National Assembly of Nigeria where he served as the secretary to Senate Committee on Defence (1981 – 1982). Okagbue is a member of several professional bodies such as International Lawyers Network (ILN), International Trademark Association (INTA), Institute of Trademark Agents (ITMA), Nigerian Economic Summit Group (NESG), and Nigerian Bar Association. He has been a Notary Public (Federal Republic of Nigeria) since 1992.

Yabawa Lawan Wabi, mni, has three decades of experience in accounting and financial practice and rose through the ranks in the Borno State Civil Service before serving as the Minister of Finance for the Federal Republic of Nigeria in 2010. She also served on the Board of Mainstreet Bank (now Skye Bank) as a non-executive director. Hajiya Yabawa holds a B.Sc in Accounting from the Ahmadu Bello University, Zaria. She is also a member of a number of professional associations such as the Institute of Certified Public Accountants of Nigeria, Chartered Institute of Taxation of Nigeria and National Institute for Policy and Strategic Studies, NIPSS, Kuru. She is a fellow, Association of National Accountants of Nigeria.

Dauda N. Iliya is a veteran banker with cognate experience of over 30 years in Branch Operations, Risk Asset assessment, Loan Recovery, Regulatory Management, Debt Recovery, Audit and Inspection, Treasury Marketing and Corporate, Consumer and Commercial Banking.

He left Wema Bank as an executive director to run his Consulting Firm. Iliya is a graduate of Ahmadu Bello University, Zaria (B.Sc Business Administration) and also holds an MBA from the same institution. He is an honorary senior member (HCIB), Chartered Institute of Bankers of Nigeria (CIBN), Fellow, Institute of Economists of Nigeria (INEN) and a Member of the Nigerian Institute of Management – (NIM) and Certified Credit Administrators (AICCA).

Priya Heal is the managing director, Chronos Group, Dubai/Germany and co-founded Chronos Asset Management. Heal has also served as the managing director, Filterinvest, Holland and Restructuring Consultant, Competition Authority, London, UK. A member of the World Economic Forum, Priya Heal holds a Law degree (LLB) from Kings College London and was called to the Bar in 1998. She is an alumnus of Yale University, Connecticut, USA and the Passau University, Germany. She is also a member of the Honourable Society of Lincoln’s Inn.

The CBN had also in January 2015, approved the appointment of Thomas Etuh and Aminu Babangida as chairman and vice chairman of the bank, respectively.

From all indications, stakeholders view these Board changes as a welcome development, aimed at improving the Bank’s Board capacity and positioning the Bank for greater achievements.