The Central Bank of Nigeria has fired all directors on the board of First Bank Nigeria Limited.
It also announced the sacking of board members of First Bank of Nigeria Holdings Plc.
CBN had queried the Board of the bank over the removal Adesola Adeduntan as the Managing Director/Chief Executive Officer and subsequent appointment of Gbenga Shobo as MD/CEO designate without its approval.
The nation’s apex bank had also faulted the appointment of Abdullahi Ibrahim as deputy managing director, as well as the appointment of Ini Ebong, Segun Alebiosu, Seyi Oyefeso and Bashirat Odunewu, as executive directors.
But at a briefing on Friday, CBN Governor, Godwin Emefiele, announced the sacking of all members of the board of the bank for the supposed affront.
Emefiele also reinstated Adeduntan as the MD/CEO of the bank.
He said, “CBN directs immediate removal of all Directors of First Bank Nigeria Limited and First Bank Holdings Plc.
“CBN reassures First Bank of Nigeria depositors, creditors and other stakeholders of the bank of its commitment to ensure the stability of the financial system.
“CBN approves appointment of Remi Babalola as Chairman FBN Holdings Plc.
“CBN appoints Dr. Fatade Abiodun Oluwole, Kofo Dosekun, Remi Lasaki, Dr Alimi Abdulrasaq, Ahmed Modibbo, Khalifa Imam, Sir Peter Aliogo, and UK Eke (Managing Director) as Directors of FBN Holdings Plc
“CBN approves appointment of Tunde Hassan-Odukale as Chairman of First Bank of Nigeria Limited.
“CBN appoints Tokunbo Martins, Uche Nwokedi, Adekunle Sonola, Isioma Ogodazi, Ebenezer Olufowose, Ishaya Elijah B. Dodo as Directors of First Bank of Nigeria Limited.
“CBN reinstates Sola Adeduntan as Managing Director; Gbenga Shobo as Deputy Managing Director; and Remi Oni and Abdullahi Ibrahim as Executive Directors of First Bank of Nigeria Limited.”