Hot topics close

CBN Removes Boards of First Bank of Nigeria, FBN Holdings; Appoints New Boards Chairmen

Following the meeting held by the board of First Bank of Nigeria in relation to the appointment of Mr. Gbenga Shobo as the new MD/CEO of First Bank and the subsequent query issued by the Central Bank of Nigeria (CBN) to the bank's board, the CBN Governor

Thursday, April 29, 2021 08:58 PM / by Proshare Research / Header Image Credit: Ecographics

Following the meeting held by the board of First Bank of Nigeria in relation to the appointment of Mr. Gbenga Shobo as the new MD/CEO of First Bank and the subsequent query issued by the Central Bank of Nigeria (CBN) to the bank's board, the CBN Governor this evening, during a press briefing, announced the removal of the boards of both First Bank of Nigeria (FBN) and FBN Holdings Plc.

 

The CBN Governor described First Bank of Nigeria as a Systemically Important Bank (SIB) considering its huge customer base of 31m, the quantity of its NIBSS activity which is about 22% of the total industry activity and its customer deposits which is about 10 times more than its shareholders' fund.

 

Following the removal of the boards of First Bank of Nigeria and its parent company, the CBN announced new board member for the two entities.

 Proshare Nigeria Pvt. Ltd.

The New Board members announced by the CBN for FBN Holdings Plc are:

  1. Remi Babalola - Chairman
  2. Dr Fatade Abiodun Oluwole
  3. Kofo Dosekun
  4. Remi Lasaki
  5. Dr Alimi Abdulrasaq
  6. Alhaji Ahmed Modibbo
  7. Alhaji Khalifa Imam
  8. Sir. Peter Aliogo
  9. UK Eke - Managing Director.

 

Similarly, the CBN announced the following persons as board members for First Bank of Nigeria Ltd

  1. Tunde Hassan-Odukale - Chairman
  2. Tokunbo Martins
  3. Uche Nwokedi
  4. Adekunle Sonola
  5. Isioma Ogodazi
  6. Ebenezer Olufowose
  7. Ishaya Elijah B. Dodo
  8. Dr Sola Adeduntan - MD/CEO
  9. Gbenga Shobo - Deputy Managing Director
  10. Remi Oni - Executive Director
  11. Abdullahi Ibrahim - Executive Director.

 

At the close of trading today, the share price of FBNH dropped by a tick size of -6.76% to close at N6.90k

 Proshare Nigeria Pvt. Ltd.

One Week Share Price Movement

Proshare Nigeria Pvt. Ltd.

 Proshare Nigeria Pvt. Ltd.

Watch Video

Proshare Nigeria Pvt. Ltd.

 

Proshare Nigeria Pvt. Ltd.

Related News

1.     PDF: CBN Governor's Statement on the Purported Management Change at the First Bank of Nigeria Ltd

2.     FBNH Appoints Mr. Gbenga Shobo as Managing Director Alongside New Executive Directors

3.     FirstBank's New Board Appointments, CBN Reacts

4.     FirstBank's Change of Guards; Adeduntan Passes Baton to Shobo

5.     FBNH Declares N89.7bn PAT in 2020 Audited Results Proposes 45K Final Dividend ...

6.     FBNH Notifies of Board Meeting Date and Commencement of Closed Period...

7.      FBN Holdings Plc Announces Adetu Anammah and Hughes as New Board Appointments...

8.     FBNH Declares N65.9bn PAT in Q4 2020 Results SP N7.60k ...

9.     FBNH Notifies of Board Meeting Date and Commencement of Closed Period...

10.  FBNH Releases its 2019 Sustainability Report...

11.   FBNH Notifies of Dealing in 0.1m Volume of Shares by Uduak Udoh...

12.   FBNHoldings Group Wins Big at the 2020 Great Place to Work Awards...

13.   FBNH Declares N68.2bn PAT in Q3 2020 Results SP N7.65k ...

 

 Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Similar shots
This week's most popular shots