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First Bank Nigeria Holdings (FBNH) closed with a loss of -6.6%, placing it at the third position in the NSE ASI for Thursday. After the appointment of the new Managing Director/Chief Executive Officer (MD/CEO) for First bank Nigeria, Mr Gbenga Shobo, the CBN responded by re-instating Dr. Adesola Adeduntan as the MD and sacking all directors of the bank, as well as the parent company, FBN Holdings. CBN stated that First bank Nigeria was of essential importance to the Nigerian banking sector given its historical significance, size of balance sheet, large customer base and high level of interconnectivity with other financial service providers, among others.
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