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    KUFRE EKPO
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                CBN Sacks First Bank Directors

    CBN

    The Central Bank of Nigeria (CBN) on Thursday sacked all the board members of First Bank Nigeria Ltd and First Bank of Nigeria Holdings Plc.

    Before taking the action, CBN had queried the Board for removing Adesola Adeduntan as the Managing Director/Chief Executive Officer.

    First Bank had appointed Gbenga Shobo as MD/CEO designate without regulatory approval.

    The apex bank also faulted the appointment of Abdullahi Ibrahim as Deputy Managing Director as well as the appointment of Ini Ebong, Segun Alebiosu, Seyi Oyefeso and Bashirat Odunewu, as executive directors.

    But at a briefing on Thursday, the Governor, Godwin Emefiele, announced the sacking of all members of the board of the bank for the supposed affront.

    Emefiele also reinstated Adeduntan as the MD/CEO of the bank.

    Read Also: Shocking things Aminu Masari says concerning Nigeria’s security problems

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