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CBN directs banks to publish names, BVN of forex policy defaulters
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CBN Orders Banks to Restrict Accounts of 18 Firms
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CBN asks banks to block accounts of 18 companies
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The Central Bank of Nigeria (CBN) has queried the Board of Directors, First Bank of Nigeria Limited for appointing a new Managing Director/Chief Executive Officer, removing Dr Adesola Adeduntan, without regulatory approval.
First Bank on Wednesday announced the appointment of Gbenga Shobo as the new Managing Director and Chief Executive Director.
Chairman of the Board of Directors First Bank, Mrs. Ibukun Awosika said the appointment was subject to all regulatory approvals.
Confirming the query, a top central bank staff who preferred not to be named because he was not authorized to speak for the bank said the query is contained in a letter dated April 28, 2021, signed by the CBN Director, Banking Supervision, Haruna Mustafa.
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The Central Bank of Nigeria has faulted the removal of the erstwhile managing director of First Bank of Nigeria Limited, Adesola Kazeem Adeduntan and the hurried appointment of his replacement in the person of Gbenga Shobo.
Earlier today, the 127 year old bank had announced Shobo as its managing director/chief executive officer effective from April 28, to take over form Adeduntan who was said to be retiring in accordance with the bank’s term limits for chief executives, having headed it since 2016.
Shobo until his appointment was the bank’s deputy managing director and held high level positions in the bank including group head (national corporates), executive vice president (retail south) and executive director (Lagos & West).