Live Breaking News & Updates on Board Of First Bank
Stay updated with breaking news from Board of first bank. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
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. ....
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. ....
Views: Visits 31 CBN Governor, Mr Godwin Emefiele By Emma Ujah – Abuja The Central Bank of Nigeria (CBN) Thursday, removed the Boards of Directors of First Bank of Nigeria Plc and the FBN Holding. It also wielded the big stick against the FBN Holding Ltd. Announcing the decision to sack the Directors at a briefing in Abuja, the CBN Governor, Godwin Emefiele, said that the apex bank had to remove the Directors for trying to remove Mr Adeduntan from office without consulting the regulars. While announcing the reinstatement of the MD, Emefiele said that the CBN was satisfied with the work of the MD, and those trying to remove him were the ones who were not comfortable with his insistence on adherence to regulations. ....
4 min read Nigeria’s premier bank, First Bank, has for years been plagued by “bad credit decisions, significant and non-performing insider loans and poor corporate governance practices”, the Central Bank of Nigeria has said. The regulator sacked the board of the bank and its holding company on Thursday, in a dramatic move that came a day after the bank named a new managing director. In a speech to journalists, CBN governor, Godwin Emefiele, said First Bank maintained healthy operations up until 2016 financial year when the CBN’s examination revealed that the bank was in grave financial condition with its capital adequacy ratio and non-performing loans ratio substantially breaching acceptable standards. ....
As a Nigerian interested in investing or making money, names like Aliko Dangote, Femi Otedola, Mike Adenuga, Tony Elumelu, Jim Ovia, Rabiu Abdulsalam etc., come to mind as aspirational role models. These men have all made billions of naira investing in companies listed on the Nigerian Stock Exchange either as founders or strategic investors. However, there are many other lesser-known investors in companies listed on the Nigerian Stock Exchange who are worth billions (in naira). These investors are seasoned and while they may not always be the founders of the companies they are invested in; they own a significant chunk of the business through strategic investment stakes that earn them billions annually in capital appreciation and dividends. ....