After the Central Bank of Nigeria announced the removal of Mrs. Ibukun Awosika as Chairman of the board of First Bank of Nigeria, it has approved the appointment of Tunde Hassan Odukale as a replacement.
CBN also approved the appointment of Remi Babalol as Chairman of FBN Holdings PLC, a subsidiary of FBN, and subsequently reinstated Sola Adeduntan as the Managing Director, Gbenga Shobo, as Deputy Managing Director, Abdullahi Ibrahim and Remi Oni, as Executive Directors of First Bank of Nigeria Limited respectively.
The Awosika-led board had earlier removed Adeduntan as the Managing Director, and replaced with Sobo, a move the apex bank condemned in a series of tweets.
The Governor of the Central Bank of Nigeria, Godwin Emefiele, said its intervention was to protect the 31 million customers and minority shareholders of First Bank.
“First Bank of Nigeria is one of Nigeria’s systemically important banks, given its historical significance, balance sheet size, large customer base, and high level of interconnectedness with other financial service providers.
“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,” Emefiele said.
The News Agency of Nigeria (NAN) reports that CBN also announced the appointments of Dr. Fatade Abiodun Oluwole, Kofo Dosekun, Remi Lasaki, and Dr. Alimi Abdulrasaq as directors of FBN Holdings.
Other directors of FBN Holdings so appointed are, Ahmed Modibbo, Khalifa Imam, Sir Peter Aliogo, and UK Eke, who was appointed as Managing Director.
Directors of FBN Limited, as announced by the apex, include. Tokunbo Martins, Uche Nwokedi, Adekunle Sonola, Isioma Ogodazi, Ebenezer Olufowose, and Ishaya Elijah Dodo.
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