BREAKING: CBN fires First Bank directors

880
Reach the right people at the right time with Nationnewslead. Try and advertise any kind of your business to users online today. Kindly contact us for your advert or publication @ Nationnewslead@gmail.com Call or Whatsapp: 08168544205, 07055577376, 09122592273

 

The Central Bank of Nigeria wielded its big stick on First Bank of Nigeria Limited as the apex regulator of the activities of commercial banks on Thursday when it fired the entire members of the board of First Bank Nigeria Ltd and First Bank of Nigeria Holdings Plc.

Nationnewslead had earlier reported that the apex bank queried 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.

But at a briefing today, CBN Governor, Godwin Emefiele, announced the sacking of all members of the board of the bank for the supposed affront.

 

Emefiele also reinstated Adeduntan as the MD/CEO of the bank.

He said, “Following further review of the situation and in order to preserve the stability of the bank so as to protect minority shareholders and depositors, the management of the CBN, in line with its powers conferred on it by the Banks and Other Financial Institutions Act 2020, has approved and hereby directs as follows:

“Immediate removal of all the directors of First Bank of Nigeria Limited and First Bank of Nigeria Holdings Plc.”

 

Details later…

 

 

Advertise or Publish a Story on Nationnewslead: Kindly contact us @ Nationnewslead@gmail.com Call or Whatsapp: 08168544205, 07055577376


Reach the right people at the right time with Nationnewslead. Try and advertise any kind of your business to users online today. Kindly contact us for your advert or publication @ Nationnewslead@gmail.com Call or Whatsapp: 08168544205, 07055577376, 09122592273



Leave a Reply

Your email address will not be published. Required fields are marked *

mgid.com, 677780, DIRECT, d4c29acad76ce94f