BREAKING: CBN fires All First Bank directors- See Reasons

CBN fires All First Bank directors, See Reasons below:

GoldenNewsNg gathered that the Central Bank of Nigeria wielded its big stick on First Bank of Nigeria Limited as the apex regulator of the activities of commercial banks on Thursday when it fired the entire members of the board of First Bank Nigeria Ltd and First Bank of Nigeria Holdings Plc.

Read Also :First Bank in Fresh Trouble for Appointing New MD without CBN Approval

GoldenNewsNg  ealier reported that CBN   queried the 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.

The CBN had 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 today, CBN 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: JUST IN: First Bank Appoints New MD – See Details

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