Breaking: CBN Reinstates Adeduntan In FirstBank, Sacks Otudeko, Names Babalola Chairman Of FBN Holdings

Apparently dissatisfied with the explanations offered by the group regarding its sack of Dr. Adesola Adeduntan as chief executive of First Bank of Nigeria Limited, its flagship, the Central Bank of Nigeria (CBN), on Thursday wielded the big stick, sacking Oba Otudeko, Chairman of FBN Holdings Plc.

The CBN, while reinstating Adeduntan, also fired Mrs. Ibukun Awosika, chairman of the bank, as well as other directors of the group, except the MD, Uke Kalu Eke.

For First Bank of Nigeria Limited, besides Adeduntan, the DMD, Gbenga Sobo was retained, while Tunde Hassan Odukale was appointed chairman, replacing Mrs. Ibukun Awosika.

Addressing a press conference monitored live from Lagos, Godwin Emefiele named Remi Babalola, a one-time executive director of the bank and later Minister of State, Finance as a replacement for Otudeko.

Other directors of FBN Holdings as announced by the apex bank are:

Dr. Fatade Abiodun Oluwole

Kofo Dosekun

Remi Lasaki

Dr Alimi AbdulRazak

Alhaji Ahmed Modibbo

Alhaji Khalifa Imam

Peter Aliu

Uke Kalu Eke, MD

For the bank:

Tunde Hassan Odukale- chairman

Tokunbo Martins, for CBN Director of Banking Supervision

Uche Nwokedi

Adekunle Sonola

Isioma Ogodasi

Ebenezer Olufowose

Isaya Elijah Dodo

Dr. Sola Adeduntan MD/CEO

Gbenga Sobo, DMD

Details later…

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