First Bank of Nigeria Limited has reconstituted a new board of directors following the sacking of the bank’s board by the Central Bank of Nigeria (CBN).
The CBN had on Thursday sacked the board of the FBNHoldings and First Bank Limited over the removal of the managing director of the bank, Dr Adesola Adeduntan.
The apex bank stated that the action taken by the former board of directors of the bank had negative implications for the country’s financial market.
The new board of the bank comprised Mr. Tunda Hassan-Odukale as chairman; other members included Mr. Tokunbo Martins; Mr. Uche Nwokedi; Mr. Adekunle Sonola; Ms. Isioma Ogodazi; Mr. Ebenezer Olufowose, and Mr. Ishaya Elijah Dodo.
According to a statement issued by the management of the bank, Dr. Adesola Adeduntan remains the managing director/chief executive officer, while Mr. Gbenga Shobo became the deputy managing director. Dr Remi Oni and Mr. Abdullahi Ibrahim were named executive directors.
The statement, however, indicated that Dr. Adeduntan had already resumed work as the CEO of the bank in line with the directive of the apex bank.
The statement also confirmed that the bank was cooperating with the CBN and other regulators, adding that the operations of the bank were not hampered or hindered in any way.
