CBN dissolves the Board of First Bank Nigeria

The Central Bank Of Nigeria has dissolved the board of First Bank Nigeria Ltd and First Bank of Nigeria Holdings Plc, after questioning the Board of the bank for removing Adesola Adeduntan as the Managing Director/Chief Executive Officer, and appointing Gbenga Shobo as MD/CEO designate without regulatory approval.

The CBN had also faulted the appointment of Abdullahi Ibrahim as deputy managing director, as well as the appointment of Ini Ebong, Segun Alebiosu, Seyi Oyefeso, and Bashirat Odunewu, as executive directors.

CBN Governor, Godwin Emefiele, declared the removal of all members of the board of the bank for the supposed affront and reinstated Adeduntan as the MD/CEO of the bank.

No Comments Yet

Leave a Reply

Your email address will not be published.