[/caption]By Folake Alu/Assistant News Editor
Union Bank Nigeria Plc is up for grabs. Latest news from the Nigerian banking industry indicate that African Capital Alliance is ready to buy into Union Bank Plc. Union Bank is one of the banks that was rescued by the Central Bank of Nigeria (CBN) due what it called mismanagement of funds.
The former Chief Executive of the bank,Mr. Batholomew Ebong was amongst those sacked by Sanusi Lamido led CBN.He is currently facing civil and criminal charges leveled against him by Economic and Financial Crimes Commission (EFCC)
Gistmaster.com gathered that Africa Capital Alliance is the brain child of board room gurus.It has on it board of Directors, Mr. Pascal Dozie, a rich and experienced board room chief who holds sway as the Chairman of Diamond Bank and MTN Nigeria. He has business interests in oil and gas, property etc.
The Africa Alliance also has a former Head of Interim National Government in Nigeria, Chief Ernest Shonekan on board. Shonekan is also a former Chairman of UAC plc.Okechukwu Ekenamah, the CEO of Africa Capital Alliance is has worked with top equity companies in South Africa, United States and other places.
Union Bank under Mrs. Funke Osibodu has not issued a statement yet on the issue but we gathered that it would come soon if everything scale through.
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