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By Cynthia Alo Contrary to the popular narratives, the management of Honeywell Group, a major corporate stakeholder in First Bank of Nigeria Limited, has said its loan facilities from the bank are within regulatory prescriptions and are performing according to bankis’ credit standards.
This is coming at the backdrop of allegations from both the Central Bank of Nigeria, CBN, and sources at First Bank that the company’s loans breached regulatory requirements.
READ ALSOCBN, experts advocate collaboration among MFBs on microinsurance The apex bank had, consequently reconstituted the boards of directors of both the bank and its parent company, First Banking Holdings Plc, removing some members believed to have links or allegiance to owners of Honeywell.