The Central Bank of Nigeria, CBN, has sacked all the directors of First Bank of Nigeria (FBN) Limited and First Bank of Nigeria (FBN) Holdings Plc.
The CBN governor Mr. Godwin Emefiele, disclosed this at a press briefing on Thursday, April 29, 2021 over the purported ouster of the Bank’s Managing Director, Mr Adesola Adeduntan and appointment of Mr. Gbenga Shobo by the board.
Adeduntan was earlier sacked by the board on April 28 and replaced with Mr. Shobo.
Emefiele has reinstated Adeduntan to pilot the affairs of the bank.
The CBN governor said the decision was taken to safeguard the financial system, following the crisis that greeted the purported changes at FBN.
