The Central Bank of Nigeria (CBN) has announced new appointments in one of Nigeria’s commercial banks, First Bank of Nigeria PLC, and retained Dr Sola Adeduntan as the bank’s Managing Director.
This comes a day after the bank announced the removal of Adeduntan and Gbenga Shobo as his successor.
The CBN, however, queried the bank for the move on Thursday, saying that it did not notify it of the decision to remove Adeduntan who had yet to complete his tenure.
As news of the query made the rounds, the Central Bank Governor, Godwin Emefiele, told a news conference in Abuja that: “Ordinarily the board is vested with the authority to make changes in the management team subject to CBN approval.