By Rukayat Adeyemi
The share price of FBN Holdings Plc, parent company of the First Bank of Nigeria Ltd., which opened on the floor of the Nigerian Exchange Ltd.(NGX) on Friday at N18.50, gained N1.85 to close at N20.35, following investors’ renewed interest.
Specifically, FBN Holdings led 17 other gainers by 10 per cent and sold a total of 7.74 million shares valued at N156.31 million to close the week.
The News Agency of Nigeria (NAN) reported on Monday that investors reacted to a sudden change in the leadership of a major subsidiary of the Group, First Bank Nigeria, over the weekend.
First Bank, on Sunday appointed an acting Managing Director/Chief Executive Officer, Mr Olusegun Alebiosu, with immediate effect and subject to the approval of the Central Bank of Nigeria (CBN).
The appointment followed the resignation of the bank’s former Managing Director, Dr Adesola Adeduntan, on Friday.
Reacting, Mr David Adonri, Vice Chairman, Highcap Securities Ltd., said FBN Holdings, is…
Source: News Agency of Nigeria
