Central Bank of Nigeria (CBN) has reinstated Sola Adeduntan as the managing director and chief executive officer of First Bank of Nigeria Limited.
Godwin Emefiele, governor of the CBN, made this announcement in a press briefing on Thursday and also announced the immediate removal of all directors of FBN limited and FBN Holdings.
The apex bank queried Board of the bank for removing Adesola Adeduntan as the Managing Director/Chief Executive Officer, and appointing Gbenga Shobo as MD/CEO designate without regulatory approval.
CBN 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.
However, at a briefing today, Godwin Emefiele, announced the sacking of all members of the board of the bank for the supposed affront.
Addressing a news conference in Abuja, Emefiele said that its stance has become imperative to protect depositors at the bank, saying the apex bank’s decision is aimed at ensuring financial stability at the bank.
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