We are cooperating with the Central Bank – FBN Holdings Plc

In a corporate release signed by the Company Secretary, Seye Kosoko, FBN Holdings Plc (NSE: FBNH) in accordance with the Nigerian Exchange Limited (NGX) Rule Book, notified the NGX and the investing public of the recent developments in FBN Holdings Plc and First Bank of Nigeria Limited.

Further to the press Conference held by the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele on Thursday, 29 April 2021, the Boards of FBN Holdings Plc and First Bank of Nigeria Limited were dissolved and new Boards reconstituted, pursuant to the powers vested in the Central Bank of Nigeria as the primary regulator of both Companies.

The Board of Directors of FBN Holdings Plc is now comprised as follows:

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

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. Sola Adeduntan – Managing Director
9. Mr. Gbenga Shobo – Deputy Managing Director
10. Mr. Remi Oni – Executive Director
11. Mr. Abdullahi Ibrahim – Executive Director

FBNH confirmed that both the Bank and the Holding Company are cooperating with the Central Bank of Nigeria and other regulators while the operations of the Bank and the Holdco are not hampered or hinders.

On Thursday, 29th April 2021, the Governor of Central Bank of Nigeria, sacked the entire members of the Board of FBN Holdings Plc and its banking subsidiary, First Bank of Nigeria Limited.

In closing in its corporate release addressed to investors, FBNH claims to be aware of its responsibilities to the shareholders and will work to discharge those responsibilities in the manner expected of a company listed on the Premium Board of NGX Exchange Limited.

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur