IBB’s son appointed Unity Bank chairman

The management of Unity Bank says it has appointed Aminu Babangida, son of Ibrahim Babangida, former military head of state, as chairman of the bank.

In a notice posted on the Nigerian Stock Exchange website on Thursday, the bank said his appointment had been approved by the Central Bank of Nigeria (CBN).

The notice, which was signed by Mohammed Shehu, company secretary, said Babangida will succeed Thomas Etuh, who recently retired from the bank.

“This is to formally notify shareholder of Unity Bank Plc and other takeholders of the Bank that, the board of Unity Bank Plc held at an emergency meeting held on October 4, 2017 approved the appointment of Aminu Babangida (the erstwhile vice chairman of the board) a the new chairman of the board in line with the bank’s sucession plan policy.

“The appointment of Aminu Babangida as chairman, board of directors of Unity Bank Plc has been approved by the Central Bank of Nigeria.”

His bio on the bank’s website read: “Aminu Babangida is an entrepreneur, a co-founder/chief executive officer of Phoenix Energy, Abuja and team member of the El-Amin International School, Minna. He has also worked on the trading floor of Trafigura BV, London, UK.

“Babangida was appointed to the board of Unity Bank Plc in 2011.

“He attended Regents Business School, London and Westminster Business School London where he obtained a BA in International Business and MA in International Business Management respectively.”