Nigeria’s First Bank refers to Central Bank of Nigeria (CBN) pronouncement on reconstitution of its Board of Directors.
The commercial bank stated further to the press conference held by Governor of CBN, Mr. Godwin Emefiele CON on Thursday, 29 April 2021, the Boards of FBN Holdings Plc and First Bank of Nigeria Limited were dissolved and reconstituted, pursuant to its power under Banks and Other Financial Institutions Act (BOFIA) 2020.
The Board of Directors of First Bank of Nigeria Limited is now comprised as follows:
Mr. Tunde Hassan-Odukale – Chairman
Mrs. Tokunbo Martins
Mr. Uche Nwokedi
Mr. Adekunle Sonola
Ms. Isioma Ogodazi
Mr. Ebenezer Olufowose
Mr. Ishaya Elijah B. Dodo
Dr. Adesola Adeduntan FCA – Managing Director/ Chief Executive Officer
Mr. Gbenga Shobo – Deputy Managing Director
Dr. Remi Oni – Executive Director
Mr. Abdullahi Ibrahim – Executive Director
Dr. Adesola Adeduntan has since resumed work as CEO in line with the directives of the CBN.
The bank confirmed that it is cooperating with CBN and other regulators while its operations are not hampered or hindered in any way and are in fact running smoothly.
It wishes to reassure the public, esteemed customers and stakeholders in the words of Governor of CBN in concluding his press conference, “The CBN hereby reassures the depositors, creditors and other stakeholders of the bank of its commitment to ensuring the stability of the financial system.
There is therefore no cause for panic amongst the banking public, given that the actions being taken are meant to strengthen the bank and position it as a banking industry giant.”
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