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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

“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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Family taxi driver killed by Nigeria Police gets N10m in compensation

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Family of Lagos taxi driver killed by police gets N10m compensation

The family of taxi driver, MrAdeshina Adeosun, who was killed by the police, has been paid a N10million in compensation by Lagos State Judicial Panel of Inquiry and Restitution for SARS-related abuses and other matters.

Mr Adeshina family was among the six recipients of N19.25million compensation by the panel, all victims of police brutality.

Chairperson of the panel, Justice Doris Okuwobi (retd) presented the cheques to the victims or their families on Friday, September 24.  The others who received compensations include Akinmade Akinrolabu who got N1.5 million; Sanusi Oluwakemi N750, 000; Patrick Michael N3 million, Ayomide Oyewunmi got N1 million and Oluwatosin Odebode N3 million.

The family of Adeshina Adeosun, a taxi driver, had appeared before the panel to demand for justice. According to the family, police officers attached to Olosan Police Station in Mushin axis of the state shot at him at Fan Milk junction around Mushin axis of Lagos, on October 20, 2020, during the #EndSARS protest, leading to his death.

Adeosun’s daughter, Funmilayo, who witnessed how her father was fatally shot by the police, told the panel in February that his body was also seized by the police attached to the Olosan station in Mushin. Justice Okwuobi ordered the Lagos police to provide the deceased body for burial. She also advised that the Nigerian police officers be trained on how to handle a crowd and a riotous situation.

Ayomide Oyewunmi, 14, got N1million following the trauma he suffered while being handcuffed by some police officers attached to the Ajah area of the state. His father, Taiwo Oyewunmi, had told the panel that the police officers invaded his residence and handcuffed his son.

Mr Oyewunmi said that it took the intervention of the station’s DCO and instruction from the “higher authority not to detain the minor in the cell” adding that his son was traumatized following the incident.

His father had in May on his behalf demanded financial compensation of N25 million.

The panel ruled that the 14-year-old was subjected to fear and exposed to danger and is entitled to compensation and apology from the police.

 

 

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Kano lost an honourable Emir of gaya as he visits death

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Kano lost an honourable Emir of gaya as he visits death

The Emir of Gaya, Alhaji Ibrahim Abdulkadir, is dead.

The Emir, who has been sick, died on Wednesday morning in Kano

 

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Shocking reasons Tonto Dikeh, affair with Kpokpogri’s crashed

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Prince Kpokpogri, who is the chairman of the Anti-Corruption and Integrity Forum, described his ex-lover as “Helen of Troy” and claimed their short affair was stressful .

“We dated for just  three months and it was more or less a living hell! So much has happened in a that short period that I let go it for the sake of the so-called relationship and my sanity,’’ Kpokpogri said while reacting to the news of their break-up.

Kpokpogri was thrust into the limelight after Tonto Dikeh reveal  him on his birthday on 27 June on her Instagram page. The once happy relationship crashed after a viral voice note and a phone call between Kpokpogri and a socialite was leaked online by an Instagram gossip blogger. Ever since the couple have been at war with each other on Instagram.

Petitions

In a petition against Kpokpogri  6 September and addressed to the Commissioner of Police, FCT Command, Dikeh through her counsels in Festus Keyamo Chambers, Okechukwu Uju-Azorji, and Arinze Egbo made several shocking revelations.

1-Ulterior motive:

In the petition which was seen by this PREMIUM TIMES, Tonto Dikeh accused her ex-lover Prince Kpokpogri of being a fake lover. She said Kpokpogri carefully planned his way into her life.

They said, ‘‘That in June 2021 one Prince Kpokpogri Joseph started to court our client with a proposal to marry her. In the process, he would invite our client to his residence, and sometimes he came over to our client’s residence. Unknown to our client, the said Joseph Kpokpogri (who our client later discovered to be a serial blackmailer) had other motives for courting our client’’.

2-Blackmailer:

King Tonto accused him of being a hardened blackmailer. In the petition, Dikeh alleged that he blackmailed her and “stage-managed” their relationship for personal gains.

‘‘Our client now has reason and evidence to believe that Prince Joseph Kpokpogri had planted closed circuit Television Cameras (CCTV cameras) at private areas of his residence, and had stage-managed those visits with the aim of blackmailing our client. She was surprised when sometime in August 2021, the suspect started demanding money from her and threatening to expose nude pictures and other such documents relating to her to actualize his demands’’.

3-Fraud:

king Tonto  Dikeh also said Prince Kpokpogri under false pretense obtained huge sums of money from her.

They said, ‘‘The said Prince Kpokpogri also obtained the sum of N8m under false pretenses, however, he has paid back the sum of N6m but has refused, failed, and/or neglected to pay the sum of N2m outstanding.

4-Invasion of privacy:

She also accused him of planting closed-circuit television cameras (CCTV cameras) at private areas of his residence and had stage-managed those visits to blackmail

They said, ‘‘Our client believes that some of that information was obtained by wire-tapping her phone and/or through such other means without her authorisation’’.

They also added that Kpokpogri started sending messages, documents, and files containing sensitive information and materials relating to Dikeh to her phone while also releasing some to taddedblic.

5. Threat to life:

King Tonto Dikeh added that she was threatened not to speak badly about Prince Kpokpogri. She said, “that if she writes anything against the said Kpokpogri, her life will be on the line; that they know where her son is schooling and every other detail about her.”

6. Property seizure:

Tonto Dikeh alleged that Kpokpogri took possession of her Toyota Hilux van 2021 and has refused to return it despite several demands. Her lawyers said the Hilux van (2021 Model) was bought in Dikeh’s name.

Not one to keep quiet in the face of these allegations, Kpokpogri took a swipe at Tonto Dikeh . On his Instagram Live session, he said, ‘‘You rubbished the first man you married, you think you can play the same game with

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