The Central Bank of Nigeria CBN has exercised its authority as the apex regulator of the activities of commercial banks by firing the entire members of the board of First Bank Nigeria Ltd.
It has also reinstated Adeduntan as the MD/CEO of the bank.
Heritage Times had earlier reported how the CBN issued a query to the Board of First Bank of Nigeria Ltd, for the removal of its Managing Director/Chief Executive Officer 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.
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.
Details later…
