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CBN Fires First Bank Directors

Posted by Thandiubani on Fri 30th Apr, 2021 -

Godwin Emefiele, the Governor of the Central Bank of Nigeria has sacked First Bank directors.

CBN Governor, Emefiele
CBN Governor, Emefiele
The Central Bank of Nigeria has sacked the entire board members of First Bank Holding and First Bank Nigeria Ltd.
The CBN wielded the big stick on Thursday.
This comes after the apex bank queried the Board of the bank for removing Adesola Adeduntan as the Managing Director/Chief Executive Officer, as 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.

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