Banking
JUST IN: CBN sacks First Bank board, directors
BY KAZIE UKO
The Central Bank of Nigeria (CBN), the nation’s apex bank, has sacked the entire board and directors of First Bank of Nigeria and its parent company, FBN Holdings.
The sack follows board squabbling over which interest controls the stake in the bank.
The CBN had faulted the sacking of Adesola Adeduntan as the Managing Director/Chief Executive Officer and appointment of Mr Gbenga Shobo as the new Managing Director and Chief Executive, without regulatory approval.
The bank also appointed Abdullahi Ibrahim as deputy managing director and Ini Ebong, Segun Alebiosu, Seyi Oyefeso and Bashirat Odunewu, as executive directors.
READ: First Bank in trouble over insider borrowing, CBN threatens sanction, Otudeko indicted
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