First Bank Announces New Board Composition

First Bank
First Bank

First Bank has announced a new composition of its Board of Directors

The announcement is in line with the Central Bank of Nigeria (CBN) pronouncement on the reconstitution of the board of the bank

A statement by the Group Head, Marketing & Corporate Communications, Folake Ani-Mumuney said sequel 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 which were dissolved and reconstituted the CBN pursuant to its power under Banks and Other Financial Institutions Act (BOFIA) 2020, gave the names of members of the Board of Directors of First Bank of Nigeria Limited as follows: Mr. Tunde Hassan-Odukale – Chairman, Mrs. Tokunbo Martins, Mr. Uche Nwokedi, Mr. Adekunle Sonola and Ms. Isioma Ogodazi

Others are Mr. Ebenezer Olufowose, and Mr. Ishaya Elijah B. Dodo,

Also, Dr. Adesola Adeduntan FCA remained ad Managing Director/ Chief Executive Officer and Mr. Gbenga Shobo – Deputy Managing Director, while Dr. Remi Oni and Mr. Abdullahi Ibrahim are Executive Directors

The statement notes that Dr. Adesola Adeduntan has since resumed work as CEO in line with the directives of the CBN.
It further adds “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.” the statement explained.

First Bank of Nigeria Limited (FirstBank) remains the premier Bank in West Africa and the leading financial inclusion services provider in Nigeria for over 125 years.
With over 750 business locations and over 82,000 Banking Agents spread across 99% of the 774 Local Government Areas in Nigeria, FirstBank provides a comprehensive range of retail and corporate financial services to serve its over 15 million customers. The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, as well as a Representative Office in Beijing.
The Bank has been nimble at promoting digital payment in the country and has issued over 10million cards, the first bank to achieve such milestone in the country. FirstBank’s cashless transaction drive extends to having more than 9million people on its USSD Quick Banking service through the nationally renowned *894# Banking code and over 3 million people on FirstMobile platform.