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First Bank reacts to CBN's sacking of its board | Premium Times Nigeria

The management of
FBN Holdings PLC, the parent company of First Bank, says the holding company and the bank will cooperate with the new directive from the Central Bank of Nigeria.
The company made this known on Friday through a corporate disclosure to the Nigerian Exchange Limited. The statement was signed by the company secretary, Seye Kosoko.
The regulator sacked the board of the bank and its holding company on Thursday, in a dramatic move that came a day after the bank named a new managing director.
First Bank, Nigeria’s premier bank, has for years been plagued by “bad credit decisions, significant and non-performing insider loans and poor corporate governance practices”, the CBN said Thursday. ....

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HAPPY BIRTHDAY, OLU OBAFEMI

Tunde Olusunle celebrates Obafemi, scholar of note, at age 71
He was the sole recipient of the Nigeria National Merit Award, NNMA, in 2018. Chairman of the Governing Board of the NNMA, Prof Shekarau Yakubu, noted late October 2018, that out of three dozen nominations for the award, his own was the only entry which met all the criteria enunciated as prerequisites for the award.
The NNMA is traditionally conferred on scholars, academics, professionals and practitioners who have distinguished themselves locally and internationally in a select spectrum of disciplines, notably the humanities, arts, culture, engineering, technology, science and medicine.
The honour, which is the Nigerian equivalent of the Nobel Prize, has over the years been awarded to standard-bearers such as Professors Wole Soyinka; Chinua Achebe; John Pepper-Clark Bekederemo; Adeoye Lambo; Femi Osofisan; Niyi Osundare and Tanure Ojaide. Other recipients include: Professors Ayo Bamgbose; Laz Ekwueme; Anya ....

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