CBN Fires First Bank Directors

 

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.