Union Bank of Nigeria Plc on Thursday announced the appointment of Cyril Odu as its new chairman following the resignation of Senator Udoma Udo Udoma.
This was contained in a statement issued by the bank in Lagos.
The News Agency of Nigeria reports that Udoma was recently appointed Minister for Budget and National Planning by President Muhammadu Buhari.
The statement said Odu joined the board of UBN Plc in 2012 following the $500 million investment in the bank from Union Global Partners Limited, a private equity consortium.
The bank commended the former chairman for his astute leadership and support in the past three years.
The statement said the bank defined its transformation road map and made significant strides executing its priorities as evident in its critical operational and financial milestones.
It said Odu’s appointment “brings continuity and ensures that the bank will continue to execute its defined strategic initiatives over the next few years”.
The statement also said Odu was the chairman of the bank’s Risk Management Committee prior to his appointment as chairman.
NAN reports that Odu holds a Bachelor’s degree in Geology from the University of Ibadan and an MBA from Texas Southern University in Houston, Texas, United States of America.
NAN.