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CBN sacks all First Bank directors including Ibukun Awosika and Oba Otudeko, reinstates Adeduntan as MD/CEO

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CBN sacks all First Bank directors including Ibukun Awosika and Oba Otudeko, reinstates Adeduntan as MD/CEO

The Central Bank of Nigeria  (CBN) has removed all the directors of First Bank of Nigeria Plc and those of First Bank Holding Company. Those sacked include Chairman of First Bank, Chief (Mrs) Ibukun Awosika and the Chairman of First Bank Holding, Oba Otudeko.
 

The apex bank had 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.

 

Recall that on Wednesday, April 28, the directors of the bank at its board meeting, removed Adeduntan as its MD and announced the appointment of Gbenga Shobo as its new Managing Director/Chief Executive Officer. The board of directors stated that Shobo’s appointment was with immediate effect and is subject to all regulatory approvals. Read here.

 

However, at a press briefing held today, April 29, Godwin Emefiele, the governor of the CBN, queried the board of directors’ decision to remove Adeduntan without due consultation with regulatory authorities. Emefiele reinstated Adeduntan as the managing director and chief executive officer of First Bank of Nigeria Limited.

 

In a letter sent to the bank, the CBN said it was not aware of any wrongdoing or misconduct by Adeduntan that led to his removal.

 

A letter signed by Haruna Mustafa, CBN’s director of banking supervision, reads in part

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“The CBN was not made aware of any report from the board indicting the managing director of any wrong-doing or misconduct. There appears to be no apparent justification for the precipitate removal.

We are particularly concerned because the action is coming at a time the CBN has provided various regulatory forbearances and liquidity support to reposition the bank, which has enhanced its asset quality, capital adequacy and liquidity ratios amongst other prudential indicators.

It is also curious to observe that the sudden removal of the MD/CEO was done about eight months to the expiry of his second tenure, which is due on December 31, 2021.”

 

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. The apex bank, however, directed U.K Eke to remain the group CEO of FBN Holdings Plc.

 

Emefiele at the press briefing, announced the constitution of an interim board to clean up the large lender and stabilize the company.

 

With the sack of all the directors, First Bank Holdings will now have Remi Babalola as chairman while First Bank Limited will have Tunde Hassan-Odukale as its Chairman.

 

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Actress Benita Onyiuke welcomes her third child

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Actress Benita Onyiuke welcomes her third childActress Benita has welcomed her third child.  The actress who already has a daughter and a son, welcomed a baby boy. Benita shared the news in an Instagram post which came with the caption "Somkelechukwu".  Actress Benita Onyiuke welcomes her third child 1  . Actress Benita Onyiuke welcomes her third child Follow Linda Ikeji Blog.

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Annie Idibia Savagely Replies A Troll Who Said She Should Pray Ned Nwoko Doesn’t See Her Daughter

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Actress Annie Idibia has savagely replied to a troll who said she should pray Ned Nwoko doesn’t set his eyes on her daughter Isabella who looks all grown.

Annie Idibia shared a video with her daughter Isabella saying how much she misses her just a few days after leaving them for South Africa and the troll reacting to that said she prays Ned Nwoko doesn’t set his eyes on her.

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A post shared by Annie Macaulay Idibia (@annieidibia1)

Annie Idibia obviously wasn’t pleased with the comment of the lady hence went savage on her calling her mumu for warning her to not let Ned Nwoko set his eye on her young girl Isabella and not make her his wife.

READ ALSO: I Will Keep Being A Great Person – Davido Brags Of Being Great

Ned Nwoko is known for marrying girls at a very young age as he has claimed he married all his wives at a very young age which applied to his recent wife Regina Daniels and that is what the troll was trying to warn Annie Idibia against.

But then Annie Idibia seems not interested in the warning hence slamming the lady saying she was born a mumu for insinuating that her daughter Isabella is the kind of ladies Ned Nwoko like and will soon come for her if he gets the chance.

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screenshot below;

Source: www,GHgossip.com

. Annie Idibia Savagely Replies A Troll Who Said She Should Pray Ned Nwoko Doesn’t See Her Daughter Follow GhGossip.

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Gunmen set NDLEA office ablaze in Abia

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Gunmen set NDLEA office ablaze in Abia

Amaekpu Ohafia Local Government Area office of the National Drug Law Enforcement Agency (NDLEA) was on Tuesday May 11, set ablaze by unknown gunmen. 

 

The State Commandant, Mr Akingbade Bamidele confirmed the attack and also disclosed that no casualty was recorded. 

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The incident occurred few days after Police stations and INEC office in the state were attacked and burnt down by unknown gunmen.

 

 

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