FIRST BANK FIGHT: Babalola resigns as chairman, CBN okays Abdullahi to take over


FIRST BANK: UK Eke bows out, Nnamdi Okonkwo takes over

FIRST BANK: UK Eke bows out, Nnamdi Okonkwo takes over

By Emeka Anaeto

The Central Bank of Nigeria (CBN) has approved the appointment of Alhaji Ahmad Abdullahi as non-executive Director of First Bank Holding Plc and Chairman of the company to replace Mr. Remi Balalola.

The CBN’s Director, Corporate Communications, Osita Nwanisobi, disclosed last night that the apex bank had been duly notified of the resignation of Mr. Babalola as Chairman of the company against the backdrop of contest by some significant shareholders for control of First Bank Holding Plc. 

While congratulating Alhaji Abdullahi on his appointment, the CBN described Babalola’s resignation as the Chairman of the company as regrettable, especially given the fact that CBN’s regulatory interventions had made positive impact and increased attractiveness of the company to both local and foreign investors.

Notwithstanding the recent development, he said the CBN acknowledged the measured achievements recorded by the company under Mr. Babalola’s watch,…

Source: Vanguard Newspaper