The newly-appointed chief executives tasked with steering the five banks away from troubled waters are:
Suzanne Iroche, MD/CEO Finbank Plc
Suzanne Iroche started her career with First Bank Plc in 1981 and later moved to International Merchant Bank, in 1982.
She has a Masters degree in Management from The J. L. Kellogg Graduate School of Management, Northwestern University Evanston, Illinois, USA.
In 1988 she joined Chartered Bank Ltd. as a manager to set up the Treasury Division and was later promoted to assistant general manager to head the Corporate Banking Department where she handled a diversified portfolio of companies.
In 1995, Suzanne joined the United Bank for Africa (UBA) where she managed the foreign exchange trading function and offshore investment portfolio for the bank. She rose through the ranks to become executive director on the bank's board in 2005.
In June 2006, Suzanne took on the responsibility as ED Global Bank with responsibility for supervision and expansion of the UBA's banking franchise outside Nigeria.
Speaking to NEXT earlier today, the Chief Executive Officer of United Bank for Africa (UBA), Mr Tony Elumelu described Mrs Iroche as eminently qualified for the job. He said, she is someone with "high governance standards and principles".
Asked to comment on her likely performance in her new job, Mr Elumelu said " she is a thorough banker, drives business and is a bridge builder", he said Susan Iroche will do well in her new job.
Olufunke Iyabo Osibodu, MD/CEO Union Bank Plc
With over 27 years of banking experience, she has been the managing director of two banks, MBC, and more recently Ecobank Nigeria Plc (2002-2006), before becoming a director in the parent holding company of Ecobank, Ecobank Transnational Incorporated, a position she left in August 2006.
Her career in banking began in 1981 when she joined NAL Merchant Bank. She moved to Continental Merchant Bank in 1984, heading the treasury department, and then held various positions including vice-president/general manager, Nigeria International Bank; managing director, MBC International Bank and managing director, Ecobank Plc.
She has been a director of ValuCard, Nigeria Interbank Settlement System, Consolidated Discount House Limited, First Securities Discount House Limited, MBC Securities Limited, and ESL Securities Limited.
Born in Lagos in 1959, Mrs. Osibodu attended Holy Child College and the the University of Ife in 1980, where she studied Economics. Funke is also an alumnus of the Harvard Business School where she obtained an MBA in Advanced Management. She has spent over 25 years in the banking industry, spending 16 years in treasury management, 15 years in senior management and 9 years as managing director/chief executive of Ecobank plc.
Until her present appointment, she was chair of Citi Investments Limited, a member of the Nigerian Stock Exchange.
Nebolisa Arah, MD/CEO Afribank Plc
"Known to friends and colleagues as the perfect gentleman, Nebo brings a unique leadership style that simply inspires and motivates," say some close to him. Until his early retirement in 2003, Nebolisah Arah served as chief executive of Fidelity Bank PLC from the inception of the bank in 1988.
John Aboh, MD/CEO Oceanic Bank Plc
Born on the 18th of July 1956, Aboh holds a B.Sc. degree in Finance and an MBA in Finance & Accounts.
A seasoned banker, Aboh began his career in 1981 at First Bank of Nigeria Plc. He also worked as credit analyst, assistant general manager and as deputy general manager & chief inspector in Nigeria Merchant Bank Limited, Nigeria International Bank (Citibank) and United Bank for Africa Plc.
Notable special projects executed by Aboh include the reorganisation of the International Operations System at Nigeria International Bank (Citibank) and the implementation of the UBA MoneyGram money transfer service.
On the 24th of January, 2008, Mr. John Aboh, an executive director (Banking Operations & Services) of First Bank of Nigeria Plc was appointed acting managing Director/chief executive of Wema Bank Plc.
Mahmud L. Alabi, MD/CEO Intercontinental Bank Plc
As at December 31, 2004, he was an executive of Union Bank of Nigeria Plc
On the 8th of September 2008, Mr. Alabi was appointed the acting managing director of Wema Bank.
Alabi took over from Mr. John Aboh, following the sack of Mr. Bisi Omoyeni by the CBN, for allegedly flouting the agreements reached with the central bank and stakeholders of the bank in the crisis that rocked the bank a couple of months before.