By Chinwendu Obienyi
First Bank Plc has reassured depositors, creditors and other stakeholders that it will continue to deliver reliable services and ensure stability in the financial system.
This is coming after the Central Bank of Nigeria (CBN) sacked the entire board of directors of FBN Holdings Plc and its subsidiary First Bank of Nigeria Ltd.
First Bank had on Wednesday, announced that it had appointed Gbenga Shobo as its Managing Director/Chief Executive Officer (CEO).
The Governor, CBN, Godwin Emefiele, cited insider abuse, insider credit and breakdown of corporate governance as the reason behind the sacking of the board of FBN Holdings, Nigeria’s largest bank.
The CBN governor further announced the reinstatement of Dr Sola Adeduntan as the Managing Director of the interim Board after he was removed by the now sacked board of First Bank Plc.
In response to the development, First Bank, in a statement to Daily Sun, noted that Dr. Adesola Adeduntan has since resumed work as CEO in line with the directives of the CBN.
“The Board of Directors of First Bank of Nigeria Limited is now comprised as follows:
1. Mr. Tunde Hassan-Odukale – Chairman
2. Mrs. Tokunbo Martins
3. Mr. Uche Nwokedi
4. Mr. Adekunle Sonola
5. Ms. Isioma Ogodazi
6. Mr. Ebenezer Olufowose
7. Mr. Ishaya Elijah B. Dodo
8. Dr. Adesola Adeduntan FCA – Managing Director/ Chief Executive Officer
9. Mr. Gbenga Shobo – Deputy Managing Director
10. Dr. Remi Oni – Executive Director
11. Mr. Abdullahi Ibrahim – Executive Director
The bank also confirmed that it is cooperating with the CBN and other regulators while the operations of the Bank are not hampered or hindered in any way and are in fact running smoothly.
“We further wish to reassure the public, our esteemed customers and stakeholders in the words of the Governor of the CBN in concluding his press conference, “The CBN hereby reassures the depositors, creditors and other stakeholders of the bank of its commitment to ensuring the stability of the financial system.
There is therefore no cause for panic amongst the banking public, given that the actions being taken are meant to strengthen the Bank and position it as a banking industry giant.”, it said.