Nigerian Bank Nigeria CBN Central Bank Of Nigeria – Falalu Bello Not Affected By New Policy Sanusi

Source allAfrica.com: Iyobosa Uwugiaren, January 20th 2010

Abuja — The Managing Director/Chief Executive Officer of Unity Bank Plc, Alhaji Falalu Bello, is not affected by the Central Bank of Nigeria’s new policy which pegged a maximum tenure of 10 years each for bank CEOs .

Governor of the CBN, Malam Sanusi Lamido Sanusi, exclusively told LEADERSHIP last night that Bello would not be affected by the policy this year because he has yet to spend 10 years as the helmsman of Unity.

The CBN, through its director of the Banking Supervision Department, Mr. Sam Oni, had directed that those that have been occupying the position for 10 years now should vacate office by July 31 this year.

As a result, the CEOs of three banks – Mr. Tony Elumelu of United Bank for Africa(UBA), Mr. Jim Ovia of Zenith Bank Plc, and Mr. Shola Akinfemiwa of Skye Bank Plc – yesterday became the first set of victims of the new policy.

When our correspondent called Sanusi for clarification on how the policy might affect Bello, he said Bello’s helmsmanship at Habib Bank Plc, where he worked before joining Unity Bank, will not be counted because Habib Bank was not one of the banks that formed the present Unity Bank.

Bello had held several positions of responsibility in the course of his illustrious career. He rose to the position of managing director/CEO of Habib (Nigeria) Bank Limited in 1994. In 1998, he resigned his appointment with Habib to become the managing director of Intercity Bank Plc, which later merged with the present Unity Bank. Later in 2001, he was appointed managing director/CEO of the Nigerian Agricultural and Rural Development Bank Limited, a position he held until his voluntary resignation.

Between 2001 and 2005, he was chairman of the board of directors of Intercity Bank Plc and in October 2005, he was appointed the first managing director of the recapitalised Unity Bank Plc, a position he still occupies. He was also a director of First Interstate Bank, Express Discount House Limited, Crittal Hope Limited, MBS Merchants Limited and chairman, HNB Trustees Limited, among others.

Born on February 2, 1954 at Rigachukum, Kaduna State, Falalu Bello obtained a Bachelor’s degree in Law from Ahmadu Bello University, Zaria, in 1978 and was called to the bar in 1979.

He had attended many courses and seminars spanning the areas of law, banking, finance and management in Nigeria and abroad, including at the prestigious Harvard Business School in the United States of America.

Bello began his legal career as a magistrate Grade 1 with the Kaduna State Judiciary in 1980. Later in the same year, he took up appointment as the senior legal executive/acting company secretary of the Northern Nigeria Investment Limited.

Prior to his appointment as the Kaduna State commissioner for trade and industry in 1983, he was the company secretary of the National Freight Company Limited. He also had a stint at the Bank of the North Limited in 1979.

Nigerian Bank Nigeria CBN Central Bank Of Nigeria, Skye Bank Plc, UBA United Bank for Africa, Unity Bank Plc, Zenith Bank Plc