Adesola Adeduntan resumes work as FirstBank CEO

Dr. Adesola Adeduntan FirstBank CEO

THE First Bank of Nigeria, FBN, Limited on has confirmed that Adesola Adeduntan, its chief executive officer, has since resumed work based on the action of the Central Bank of Nigeria, CBN.

A statement from the FBN on Friday, April 30, started that his resumption was based on the CBN pronouncement on the reconstitution of the board of directors of First Bank of Nigeria Limited.

The statement reads: “Further to the press conference held by the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele CON on Thursday, 29 April 2021, the Boards of FBN Holdings Plc and First Bank of Nigeria Limited were dissolved and reconstituted, pursuant to its power under Banks and Other Financial Institutions Act (BOFIA) 2020.”

The Board of Directors of First Bank of Nigeria Limited is now comprised as follows: Tunde Hassan-Odukale, chairman; Tokunbo Martins, Uche Nwokedi,  Adekunle Sonola, Isioma Ogodazi, Ebenezer Olufowo,  Ishaya Elijah B. Dodo, Adesola Adeduntan, managing director/ Chief Executive Officer,  Gbenga Shobo, deputy managing director, Remi Oni, executive director, 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.”

– April 30, 2021 @ 14:29 GM