Breaking: CBN reverses removal of First Bank MD, sacks directors

The Central Bank of Nigeria (CBN) has reinstated Adesola Adeduntan as the Managing Director and Chief Executive Officer (MD/CEO) of the bank.

The country’s apex bank also sacked all the board members of the bank.

First bank had queried the Board of the bank for removing Adeduntan as the MD/CEO and appointed Gbenga Shobo as MD/CEO designate without regulatory approval.

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