In compliance to a directive issued by the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele CON, the Boards of FBN Holdings Plc and First Bank of Nigeria Limited been dissolved and reconstituted, pursuant to the power of the CBN under the Banks and Other Financial Institutions Act (BOFIA) 2020.
The newly constituted Board of Directors of First Bank of Nigeria Limited, has Mr. Tunde Hassan-Odukale as Chairman of the Board and Dr. Adesola Adeduntan FCA, as the Managing Director/Chief Executive Officer.
Other members of the Board include: Mrs. Tokunbo Martins; Mr. Uche Nwokedi; Mr. Adekunle Sonola; Ms. Isioma Ogodazi; Mr. Ebenezer Olufowose; and Mr. Ishaya Elijah B. Dodo.
Mr. Gbenga Shobo was appointed as the Deputy Managing Director while the duo of Dr. Remi Oni and Mr. Abdullahi Ibrahim were appointed as Executive Directors to the Bank.
Dr. Adesola Adeduntan has since resumed work as CEO in line with the directives of the CBN.
While confirming that the Bank is cooperating with the CBN in ensuring the stability of the financial system, it therefore assures the banking public not to panic, given that the actions being taken are meant to strengthen the Bank and position it as a banking industry giant.