But for the timely intervention of the Central Bank for Nigeria in the avoidable board squabbles at First Bank of Nigeria, the relative confidence and stability observed in the banking system in recent times would have been seriously shaken. James Emejo writes
It all began with the news that the erstwhile Board of Directors of First Bank of Nigeria Limited, which was chaired by Mrs. Ibukun Awosika, had approved the appointment of Mr. Gbenga Shobo to succeed Mr. Adesola Adeduntan as the new Managing Director/Chief Executive of the bank.
Adeduntan was ousted after leading the bank since January 2016, but when still within the term limit of his tenure, which is due to expire in December this year.
First Bank crisis: Why elephants don t do breakdance
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Godwin Emefiele, governor of Central Bank of Nigeria (CBN) leading the response to the country’s dollar shortage.
With the move by the CBN, we pray First Bank finds some peace. But more generally, we hope that our smart people who run banks will understand the sheer enormity of the licenses they hold and never get it into their heads to throw it all away in some flight of fancy.
Founded by the proprietor of Elder Dempster Agencies, Alfred Lewis Jones in 1894, the British Bank of West Africa was meant to facilitate the importation of silver currency into the region, where Jones held a monopoly. The bank therefore had a clear historical and business advantage from the beginning, with the imprimatur of the British crown, which held sway over half of the world in its colonial supremacy. The world hadn’t cavorted into a needless war yet at that time. The sun was deemed never to set on the Empire. BBWA was the clear standard for banking in the West African region and b
FIRST BANK CRISIS – WHY ELEPHANTS DON’T DO BREAKDANCE
By Tope Fasua
April 29, 2021
Founded by the proprietor of Elder Dempster Agencies, Alfred Lewis Jones in 1894, the British Bank of West Africa was meant to facilitate the importation of silver currency into the region, where Jones held a monopoly. The bank therefore had a clear historical and business advantage from the beginning, with the imprimatur of the British crown which held sway over half of the world in its colonial supremacy. The world hadn’t cavorted into a needless war yet at that time. The sun was deemed never to set on the Empire. BBWA was the clear standard for banking in the West African region and beyond. An acquisition by Standard Bank in 1965 led to a name change, and later, as Nigeria’s military leaders decreed the indigenization of all foreign-owned companies, the bank had to change nomenclature to First Bank of Nigeria in 1979. It is interesting to note that by then, Standard Bank had already becom
Last year, the global demand for energy dropped triggering a significant decline in crude-oil, prices, a major source of foreign exchange receipt for Nigeria. Amid the drop was a temporary respite for the global ecology. Considering that exploration activities had to be tapered by 8.0% to manage the supply glut and prices, gas flaring activities according to the world bank report on gas flaring for 2020 also reduced 5.0% y/y, globally. Annually, large
amounts of carbon emission are released into the atmosphere leading to global warming and other environmental degrading concerns.
The United Nations Framework Convention on Climate Change (UNFCCC) was organized due to a global realization that global ecology is being degraded from sustained carbon emissions. The conception and establishment of the convention has continued to get Nations of the world to commit to reduced carbon emission and has given rise to the Kyoto protocol as agreed in Japan on 11 December 1997 before coming into f
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