Friday, January 28, 2022

First Bank confirms Adeduntan’s reinstatement

The sacked board had in a statement by its chairman Ibukun Awosika announced the retirement of Mr Adeduntan from office.

• April 30, 2021
Adesola Adeduntan
Adesola Adeduntan

Following the Central Bank’s announcement on the recomposition of the board of First Bank Nigeria Limited, the bank has issued a corporate statement signed by its Group Head, Marketing and Corporate Communications, Folake Ani-Mumuneys.

The statement released by the bank reads:
“We refer to the Central Bank of Nigeria Limited (CBN) pronouncement on the reconstitution of the Board of Directors of First Bank of Nigeria Limited.

“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: Mr. Tunde Hassan-Odukale – Chairman; Mrs. Tokunbo Martins; Mr. Uche Nwokedi; Mr. Adekunle Sonola; Ms. Isioma Ogodazi; Mr. Ebenezer Olufowose; Mr. Ishaya Elijah B. Dodo; Dr. Adesola Adeduntan, FCA – Managing Director/ Chief Executive Officer; Mr. Gbenga Shobo – Deputy Managing Director; Dr. Remi Oni – Executive Director; Mr. Abdullahi Ibrahim – Executive Director.

Dr. Adesola Adeduntan has since resumed work as CEO in line with the directives of the CBN.” 

This confirmation comes after the apex bank on Thursday dissolved the management board of First Bank Nigeria PLC, reinstating the sacked Managing Director Adesola Adeduntan.

Central Bank Governor Godwin Emefiele announced the mass sacking and the reappointment of Mr Adeduntan as the CEO in a televised press briefing on Thursday evening.

The board had in a statement by its chairman Ibukun Awosika announced the retirement of Mr Adeduntan from office and announced Mr Gbenga Shobo as his replacement.

More from Peoples Gazette


Buhari regime will continue to borrow without subsidy removal: Femi Adesina

“You know how much could have been saved if the subsidy was removed and how it could have been diverted to other areas and spheres of national life.

President Muhammadu Buhari


Buhari regime failed to meet UNESCO education benchmark: Afe Babalola

“They have consistently failed to meet the UNESCO funding benchmark of 26 per cent of every country’s budget,”



Buhari regime introducing more taxes will worsen Nigerians’ suffering: Experts

Mr Buhari’s regime recently introduced an excise duty of N10 per litre on all non-alcoholic, carbonated, and sweetened beverages.

Fayose, Udom


Gov. Udom committed malpractice, supported Fayose, claims Segun Oni’s group

Mr Arokodare said Mr Udom also allegedly threatened to arrest and lock all of these delegates if any of them should come into the hall.


Lagosians will miss if they don’t reelect me in 2023: Sanwo-Olu

The governor, who is on a publicity blitz to promote his rail and other transportation projects in Lagos noted that his government planned to reduce gridlock in Lagos.


CBN begs cement, steel manufacturers to reduce products’ prices

“We are aware that some of our cement manufacturers are producing for both the domestic and export market…”


Chris Brown sued for drugging, raping woman

Chris Brown physically assaulted his then-girlfriend Rihanna and was sentenced to five years’ probation, one year of counselling and six months of community service.