By James Emejo
The Central Bank of Nigeria (CBN) has sacked all the directors of First Bank of Nigeria (FBN) Limited and First Bank of Nigeria (FBN) Holdings Plc.
Their sack was announced by the CBN Governor Mr. Godwin Emefiele, at a press briefing on Thursday over the purported ouster of the Bank’s Managing Director, Mr Adesola Adeduntan and appointment of Mr. Gbenga Shobo by the board on Wednesday.
CBN Governor, Mr. Godwin Emefiele, while addressing journalists, said the decision was taken to safeguard the financial system, following the crisis that greeted the purported changes at FBN.
Adeduntan, who was earlier sacked by the board, was however, reinstated by the apex bank.
CBN sacks Awosika, Otudeko, appoints new board for First Bank -
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Godwin Emefiele, governor of the CBN, announced this during a press briefing on Thursday.
He also ordered the immediate removal of all directors of FBN Limited and FBN Holdings Plc.
Emefiele directed the constitution of an interim board to clean up and stabilise the tier-1 lender.
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Remi Babalola is the interim chairman of FBN Holdings Plc, other members include, Peter Aliugo, Fatade Oluwole, Kofo Dosekun, Remi Lasaki, Alimi Abdulrasaq, Ahmed Modibo, and Khalifa Iman.
The apex bank, however, directed U.K. Eke to remain as the group chief executive officer of FBN Holdings Plc.
Tunde Hassan-Odukale is the new chairman of First Bank Limited, other members include Tokunbo Martins, Uche Nwokedi, Adekunle Sonola, Isioma Ogodazi, Ebenezer Olufowose, Ishaya Dodo, Sola Adeduntan as managing director, Remi Oni, Gbenga Sobo and Abdullahi Ibrahim.
Sarah Wakili-Effin
The Central Bank of Nigeria (CBN) has announced new appointments in one of Nigeria’s commercial banks, First Bank of Nigeria PLC, and retained Dr Sola Adeduntan as the bank’s Managing Director.
This comes a day after the bank announced the removal of Adeduntan and Gbenga Shobo as his successor.
The CBN, however, queried the bank for the move on Thursday, saying that it did not notify it of the decision to remove Adeduntan who had yet to complete his tenure.
As news of the query made the rounds, the Central Bank Governor, Godwin Emefiele, told a news conference in Abuja that: “Ordinarily the board is vested with the authority to make changes in the management team subject to CBN approval.
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The Central Bank of Nigeria (CBN) on Thursday removed Mr. Oba Otudeko and Mrs. Ibukun Awosika as Chairman of First Bank Holdings Company and Chairman, First Bank of Nigeria Plc respectively.
The bank also removed all the directors of the bank and the holding company.
At a press conference in Abuja, CBN Governor, Mr. Godwin Emefiele, said Otudeko on three occasions rejected his entreaties not to remove Mr. Sola Adeduntan as managing director of the bank without making recourse to CBN, which has been providing regulatory forbearance to since 2016.
The apex bank announced the reappointment of Adeduntan as Managing Director and Gbenga Shobo as Deputy Managing Director of the bank respectively.
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