Business

NIGERIA: Unity Bank Accepts Resignation of Muhammad

The Board of Unity Bank Plc has accepted the resignation of Mr.  Rislanudeen Muhammad. He was the acting Managing Director/Chief Executive Officer of the bank until January when a new MD/CEO, Mr. Henry Semenitari, and two executive directors(EDs) where appointed as part of efforts to reposition the  financial institution.
 
Muhammad had, after those new appointments, put in his resignation letter dated January 10, 2014. However, the Nigerian Stock Exchange (NSE) said on Monday  that the board of the bank met on March 13 and accepted the resignation of the former acting CEO.
 
Unity Bank had in January announced the Semenitari as  the new CEO, while  Mr. Abubakar Abba Bello and Ms Arese Alonge were named  EDs. Considering their experiences, market analysts had said the appointments  signified moves to reposition the bank.
 
Semenitari holds a Bachelor of Science Degree in Chemical Engineering from the University of Lagos and a Master in Business Administration (MBA) from International Graduate School of Management, University of Navara (I.E.S.E) Barcelona, Spain.
 
He is an alumnus of the Harvard Business School, Advance Management Programme (AMP173) in Boston, United States of America. He is also an alumnus of Cambridge Judge Business School, Advanced Leadership Programme (ALP 1), Cambridge University,  Cambridge, UK.
 
He has over 22 years banking experience in operations, internal control, branch management, credit and marketing, commercial and retail banking, consumer, and corporate banking (Energy) among others acquired in banks such as Zenith, Diamond, United Bank for Africa, ACB International Bank and Continental Trust Bank and First City Monument Bank(FCMB).
 
He also held senior Management positions in UBA Plc as an Assistant General Manager in charge of  Commercial and Retail Banking Group and General Manager (Credit and Marketing).
 
On the other hand, Bello, had his early education at Capital School, Kaduna and King’s College Lagos. He obtained B.Sc Accounting, Ahmadu Bello University, Zaria in 1989 and is currently pursuing MBA (University of Liverpool).
 
He has 23 years cognate experience in banking with numerous Nigerian banks rising  to be the MD/CEO of United Bank for Africa, Zambia.
 
Alonge had her high school education at Queens College, Lagos and obtained her BA  in 1988 from the University of Benin. She further obtained an MA in 1998 from the University of Lagos and is an MBA holder from Lagos Business School (2003).

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