First Bank of Nigeria Limited has confirmed that Adesola Adeduntan has resumed work as managing director/chief executive officer following directives by the Central Bank of Nigeria.
The CBN had on Thursday ordered Adeduntan’s reinstatement after the bank announced Gbenga Shobo was to take over as MD/CEO.
“Dr. Adesola Adeduntan has since resumed work as CEO in line with the directives of the CBN,” the bank said in a statement Friday.
It also confirmed the reconstitution of the boards of FBN Holdings Plc and First Bank of Nigeria Limited.
The following are directors in FBN Holdings Plc – Remi Babalola (chairman), Fatade Oluwole, Kofo Dosekun, Remi Lasaki, Alimi Abdulrasaq, Ahmed Modibbo, Khalifa Imam, Peter Aliogo and UK Eke (managing director).
The new directors of First Bank of Nigeria Ltd are Tunde Hassan-Odukale (chairman), Tokunbo Martins, Uche Nwokedi, Adekunle Sonola, Isioma Ogodazi, Ebenezer Olufowose, Ishaya Dodo, Sola Adeduntan (managing director), Gbenga Shobo (deputy managing director), Remi Oni (executive director), and Abdullahi Ibrahim (executive director).
“We can confirm that the Bank is cooperating with the Central Bank of Nigeria 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 Central Bank 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,’” the statement further said.