The Central Bank of Nigeria (CBN) has ordered the immediate removal of all the directors of FBN Limited and FBN Holdings PLC.
The apex bank also announced new appointments in the Nigeria’s commercial banks.
Addressing a news conference on Thursday in Abuja, CBN Governor, Godwin Emefiele said that its stance has become imperative to protect depositors at the bank.
Emefiele explained that the apex bank’s decision is aimed at ensuring financial stability at the bank.
The apex bank had queried the Board of the bank for removing Adesola Adeduntan as the Managing Director/Chief Executive Officer and appointing Gbenga Shobo as MD/CEO designate without regulatory approval.
The CBN also faulted appointment of Abdullahi Ibrahim as Deputy Managing Director as well as the appointment of Ini Ebong, Segun Alebiosu, Seyi Oyefeso and Bashirat Odunewu, as executive directors.
