CHANGES IN FBN HOLDINGS AND FIRST BANK BOARD

The revolving board room door at both FBN Holdings plc and its flagship subsidiary, First Bank ltd, has since the year swung open and close to exit and admit directors to their Boards.
According to a release from the group, Alhaji Abdullahi Mahmoud, one of the pioneer non- executive directors of the group and the erstwhile managing director of First Bank, Mr Bisi Onasanya have retired from the board of FBN Holdings PLC since December.
Appointed to the board since January is Dr Adesola Adeduntan who is also currently the managing director of First Bank ltd.
On First Bank itself, erstwhile executive director corporate banking. Mr Adetokunbo Abiru  and Alhaji Mahey Rafindadi Rasheed, an independent non-executive director also retired since December 2015.
Hence, says the notice to this effect, to keep within statutory balance between executive and non-executive directors, Mrs Olusola Adeti Oworu (FCA) has been appointed to the board.
The statement celebrates her appointment thus:
" Mrs Oworu's appointment is in sync with FBN group's strong corporate governance credentials and best practice, ensuring that there is gender balance along with knowledge, judgement and experience at the highest decision making organ of the bank"
All the new appointments are subject to shareholders approval and that of the Central Bank of Nigeria too in the case of First Bank ltd.

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