Just yesterday, the MD of First Bank was sacked from his position but he has been reinstated by the Central Bank of Nigeria barely 24 hours after the news broke.
Francis Shobo will revert to his Deputy Managing Director role and Abdullahi Ibrahim will revert to his Executive Director role both with immediate effect.
The apex body said it was not carried along in the process of sack and returned Adeduntan, saying that he is yet to complete his tenure as managing director of the bank.
In the midst of this, the regulatory body removed Oba Otudeko and Ibukun Awosika as chairmen of both the holding company and the bank respectively. Hassan-Odukale is to replace Ibukun Awosika as Chairman of the Bank immediately.
In some quarters, some experts believe that the matter will get to court in a matter of days as the bank looked to have followed its internal corporate governance policies while carrying out its actions.
Content created and supplied by: bayoishola (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More