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CBN Sacks All First Bank Directors (See Governor Godwin Emefiele s Statement)

1.0 Good afternoon ladies and gentlemen. 2.0 The media has been awash with commentaries on the purported management changes at First Bank of Nigeria Ltd (FBN) and the related regulatory inquiry by the Central Bank of Nigeria (CBN) to the Board of First Bank of Nigeria Limited. It has therefore become necessary for me to address the public to clear any misconceptions. 3.0 Ordinarily the board is vested with the authority to make changes in the management team subject to CBN approval. However, the CBN considers itself a key stakeholder in management changes involving FBN due to the forbearances and close monitoring by the Bank over the last 5 years aimed at stemming the slide in the going concern status of the bank. It was therefore surprising for the CBN to learn through media reports that the board of directors of FBN, a systemically important bank under regulatory forbearance regime had effected sweeping changes in executive management without engagement and/or prior notice to the

United kingdomAdekunle sonolaGbenga shoboKofo dosekunUche nwokediFatade abiodun oluwoleAlimi abdulrasaqPeter aliogoSola adeduntanIshaya elijahKhalifa imamAbdullahi ibrahimRemi lasakiAhmed modibboRemi babalolaIsioma ogodazi

Breaking: CBN Sacks All First Bank Directors, Reinstates Adeduntan

By James Emejo The Central Bank of Nigeria (CBN) has sacked all the directors of First Bank of Nigeria (FBN) Limited and First Bank of Nigeria (FBN) Holdings Plc. Their sack was announced by the CBN Governor Mr. Godwin Emefiele, at a press briefing on Thursday over the purported ouster of the Bank’s Managing Director, Mr Adesola Adeduntan and appointment of Mr. Gbenga Shobo by the board on Wednesday. CBN Governor, Mr. Godwin Emefiele, while addressing journalists, said the decision was taken to safeguard the financial system, following the crisis that greeted the purported changes at FBN. Adeduntan, who was earlier sacked by the board, was however, reinstated by the apex bank.

United kingdomAdekunle sonolaGbenga shoboKofo dosekunUche nwokediJames emejoFatade abiodun oluwoleAlimi abdulrasaqAdesola adeduntanPeter aliogoSola adeduntanIshaya elijahKhalifa imamRemi lasakiAbdullahi ibrahimAhmed modibbo

CBN sacks Awosika, Otudeko, appoints new board for First Bank -

CBN sacks Awosika, Otudeko, appoints new board for First Bank -
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United kingdomAdekunle sonolaKofo dosekunIbukun awosikaUche nwokediHaruna mustafaAlimi abdulrasaqFatade abiodun oluwoleOba otudekoPeter aliogoKhalifa imamRemi lasakiAhmed modibboIsioma ogodaziTokunbo martinsGodwin emefiele

CBN sacks ALL directors of First Bank Holdings, reinstates Sola Adeduntan as MD

Advertisement Godwin Emefiele, governor of the CBN, announced this during a press briefing on Thursday. He also ordered the immediate removal of all directors of FBN Limited and FBN Holdings Plc. Emefiele directed the constitution of an interim board to clean up and stabilise the tier-1 lender. Advertisement Remi Babalola is the interim chairman of FBN Holdings Plc, other members include, Peter Aliugo, Fatade Oluwole, Kofo Dosekun, Remi Lasaki, Alimi Abdulrasaq, Ahmed Modibo, and Khalifa Iman. The apex bank, however, directed U.K. Eke to remain as the group chief executive officer of FBN Holdings Plc. Tunde Hassan-Odukale is the new chairman of First Bank Limited, other members include Tokunbo Martins, Uche Nwokedi, Adekunle Sonola, Isioma Ogodazi, Ebenezer Olufowose, Ishaya Dodo, Sola Adeduntan as managing director, Remi Oni, Gbenga Sobo and Abdullahi Ibrahim.

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CBN Announces Appointment Of New Directors For First Bank, Reinstates Adeduntan As MD

Sarah Wakili-Effin 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.

United kingdomAbuja federal capital territoryAdekunle sonolaGbenga shoboKofo dosekunUche nwokediFatade abiodun oluwoleAlimi abdulrasaqPeter aliogoSola adeduntanIshaya elijahKhalifa imamAbdullahi ibrahimRemi lasakiAhmed modibboRemi babalola