First Bank of Nigeria Limited (FBN) on Friday confirmed that Dr Adesola Adeduntan had resumed as the Chief Executive Officer in line with the directives of the Central Bank of Nigeria (CBN).
TheNewsGuru.com, TNG reports that First Bank has been in the news since Wednesday after its purported removal of Dr. Adeduntan and subsequent appointment of Gbenga Shobo according to a statement released by the board of directors of the bank.
However, the apex bank would have none of that. It queried and later sacked all the board members of the bank including those of First Bank Holdings for embarking on such decisions without its approval. The CBN also reinstated Adeduntan whom it said still has eight months to complete his tenure.
Confirming heeding CBN’s directive on Friday, First Bank management Adeduntan has now resumed officially as MD/CEO.
Read full statement below:
CORPORATE STATEMENT ON THE NEW BOARD CONSTITUTION
We refer to the Central Bank of Nigeria Limited (CBN) pronouncement on the reconstitution of the Board of Directors of First Bank of Nigeria Limited.
Further to the press conference held by the Governor of the Central Bank of Nigeria, 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:
1. Mr. Tunde Hassan-Odukale – Chairman
2. Mrs. Tokunbo Martins
3. Mr. Uche Nwokedi
4. Mr. Adekunle Sonola
5. Ms. Isioma Ogodazi
6. Mr. Ebenezer Olufowose
7. Mr. Ishaya Elijah B. Dodo
8. Dr. Adesola Adeduntan FCA – Managing Director/ Chief Executive Officer
9. Mr. Gbenga Shobo – Deputy Managing Director
10. Dr. Remi Oni – Executive Director
11. Mr. Abdullahi Ibrahim – Executive Director
Dr. Adesola Adeduntan has since resumed work as CEO in line with the directives of the CBN.
We can confirm that the Bank is cooperating with the Central Bank of Nigeria and other regulators while the operations of the Bank are not hampered or hindered in any way and are in fact running smoothly.
We further wish to reassure the public, our esteemed customers and stakeholders in the words of the Governor of the Central Bank 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.”
Signed
Management