Meet Yetunde Oni, Who Took Over Union Bank in Jan. and Increased Earnings by 58% in Aug. 

The Central Bank of Nigeria (CBN) has appointed Yetunde Oni as the new Managing Director and Chief Executive Officer of Union Bank Plc.

This announcement follows the recent shake-up, which saw the boards and management of three major banks—Union Bank, Keystone Bank, and Polaris Bank—dissolved.

Sidi-Ali Hakama, acting director of corporate communications at the CBN, announced a circular dated January 10, 2024.

Oni takes over from Mudassir Amray, the former CEO of Union Bank, and brings with her a fresh approach to lead the bank forward.

Uncertainty Surrounding Union Bank

Yetunde Oni’s appointment comes during a challenging time for Union Bank, which is still dealing with the aftermath of its acquisition by Titan Trust Bank (TTB).

In December, Babatunde Lemo, chairman of Titan Trust Bank, was questioned by the Special CBN Investigator, Jim Obazee, about the deal.

Although Titan Trust Bank denied any wrongdoing, the situation has added tension to the leadership change at Union Bank.

Oni’s arrival adds a new layer of uncertainty as the bank’s leadership transition unfolds in these issues.

Oni’s Background and Experience

Yetunde Oni has over 25 years of experience in banking. She holds a degree in Economics from the University of Ibadan, completed Executive Training at Oxford University in 2016, and earned an MBA from Bangor University in 2020.

She is known for her ability to develop client solutions, manage teams, and nurture talent.

Oni started her career at Prime Merchant Bank in the Treasury & Money Markets Group before moving to Ecobank Nigeria, where she spent 11 years as a Relationship Manager in the Institutional Banking Group.

At Ecobank, she played a key role in driving business growth and helped revalidate and implement the bank’s strategy.

In 2005, she joined Standard Chartered Bank Nigeria as a Senior Account Relationship Manager. She soon took on the dual roles of Wholesale Banking Branch Head and leader of the bank’s local corporate portfolio in Apapa and Ogun State.

In 2010, she became the Head of Local Corporates, focusing on building long-term client relationships and improving profitability.

By 2014, Oni had risen to the position of Managing Director and Country Head of Commercial Banking in West Africa for Standard Chartered Bank.

During her seven-year term, she was responsible for driving business growth, managing key relationships, and ensuring compliance with banking regulations.

Before joining Union Bank, Oni was the first female Managing Director and CEO of Standard Chartered Bank in Sierra Leone, a role she took on in January 2021.