FBN Holdings Writes NGX on Recent Developments in First Bank and FBN HoldCo


Friday, April 30, 2021 / 12:39 PM / by Proshare Research / Header Image Credit: FBN Holdings

Proshare Nigeria Pvt. Ltd.

In accordance with the Nigerian Exchange Limited (NGX) Rule Book, we hereby notify the NGX and the investing public of recent developments in FBN Holdings Plc and First Bank of Nigeria Limited.


Further to the Press Conference held by the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele on Thursday, 29 April 2021, the Boards of FBN Holdings Plc and First Bank of Nigeria Limited were dissolved and new Boards reconstituted, pursuant to the powers vested in the Central Bank of Nigeria as the primary regulator of both Companies.


The Board of Directors of FBN Holdings Plc is now comprised as follows:

1. Mr. Remi Babalola - Chairman

2. Dr. Abiodun Oluwole Fatade

3. Mrs. Kofo Dosekun

4. Mr. Remi Lasaki

5. Dr. Alimi Abdulrasaq

6. Mr. Ahmed Modibbo

7. Mr. Khalifa Imam

8. Sir Peter Aliogo

9. UK Eke, MFR - Managing Director


The Board of Directors of First Bank of Nigeria Limited is now comprised as follows:

1. Mr. Tunde Hassan-Odukale - Chairman

2. Mrs. Tokunbo Martins

3. Mr. Uche Nwokedi

4. Mr. Adekunle Sonola

5. Ms. Isioma Ogodazi

6. Mr. Ebenezer Olufowose

7. Mr. Ishaya Elijah B. Dodo

8. Dr. Sola Adeduntan - Managing Director

9. Mr. Gbenga Shobo - Deputy Managing Director

10. Mr. Remi Oni - Executive Director

11. Mr. Abdullahi Ibrahim - Executive Director


We wish to confirm that the Bank and the Holding Company are both cooperating with the Central Bank of Nigeria and other regulators while the operations of the Bank and the Holdco are not hampered or hindered and are in fact running smoothly.


We wish to reassure the investing public, our esteemed customers and other stakeholders in the words with which the Governor of the Central Bank of Nigeria concluded his press conference on 29 April 2021: "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."


In closing, we wish to advise investors that, we are aware of our responsibilities to our shareholders and will work to discharge those responsibilities in the manner expected of a company listed on the Premium Board of NGX Exchange Limited.

Proshare Nigeria Pvt. Ltd. 

Related News - NPLs and Banks

  1. NPL and Bad Debtors - The Case for a New Industry Approach - Download the Full PDF Report - Debtors Africa, May 13, 2020
  2. NPL and Bad Debtors - The Case for a New Industry Approach - Executive Summary PDF - Proshare, May 14, 2020
  3. AMCON and Financial Services Debt Burden in Nigeria - Aug 17, 2018
  4. Bank NPLs (25) - The Customer's Options in a New Debt Order
  5. Bank NPLs (24) - Handling Bad, Delinquent and Recalcitrant Debtors via DiMR
  6. Bank NPLs (23) - The Case for a New Approach
  7. Bank NPLs (22) - Benchmarking Best Practice and International Debtors List
  8. Bank NPLs (21) - The Role and Place of Credit Bureaus and Rating Agencies in Recovery Efforts
  9. Bank NPLs (20) - A New Cottage Industry Emerges - Debt Factors and Loan Purchase Firms
  10. Bank NPLs (19) - Issues Around Nigerian Bank Debtors List
  11. Bank NPLs (18) - Understanding The Impact Of IFRS 9 On Selected Nigerian Banks
  12. Bank NPLs (17) - IFRS and Accounting Standards
  13. Bank NPLs (16) - The Place of Arbitration, Resolution or Debt Management
  14. Bank NPLs (15) - AMCON and Its Role in Debt Recovery
  15. Bank NPLs (14) - Regulatory Guidance, Conduct and Enablers
  16. Bank NPLs (13) - Impact on Growth of the Credit Market
  17. Bank NPLs (12) - Impact of NPLs on Income Trends
  18. Bank NPLs (11) - Technical Analysis on Banks' NPLs - LDR
  19. Bank NPLs (10) - Technical Analysis on Banks' NPLs - Leverage Ratio
  20. Bank NPLs (9) - Technical Analysis on Banks' NPLs - Liquidity Ratio
  21. Bank NPLs (8) - Technical Analysis on Banks' NPLs - NPL Ratio
  22. Bank NPLs (7) - Technical Analysis on Banks' NPLs - Profitability
  23. Debtors Africa: AMCON; Chike-Obi's Alternative View
  24. Bank NPLs (6) - Technical Analysis on Banks' NPLs - Gross Earnings
  25. Bank NPLs (5) - How Banks Fared In 2018; Holding Up Against IFRS9 Tropical Winds
  26. Bank NPLs (4) - A Short History of Recovery Efforts - A Time Series Analysis
  27. Bank NPLs (3) - The State of NPLs
  28. Debtors Africa Launches Searchable Digital Database of Recalcitrant and Delinquent Debtors
  29. Value of Downgraded Sovereign Debt Not as High as Previous Crises
  30. Bank NPLs (2) - The Banking Industry and Its NPL Position
  31. Bank NPLs (DR 1) - The Case for a New Industry Approach

Proshare Nigeria Pvt. Ltd.

Related News

  1. CBN Removes Boards of First Bank of Nigeria, FBN Holdings; Appoints New Chairmen
  2. PDF: CBN Scope, Conditions And Minimum Standards For Commercial Banks Regulations NO. 01, 2010
  3. PDF: Guidelines For Licensing And Regulation Of Financial Holding Companies In Nigeria
  4. PDF: CBN Governor's Statement on the Purported Management Change at the First Bank of Nigeria Ltd
  5. FBNH Appoints Mr. Gbenga Shobo as Managing Director Alongside New Executive Directors
  6. FirstBank's New Board Appointments, CBN Reacts
  7. FBN's Change of Guards; Adeduntan Passes Baton to Shobo
  8. FBNH Announces The Appointment of Alhaji Yakubu Wanka As A Non-Executive Director Of First Bank
  9. Firstbank CEO, Dr. Adesola Adeduntan, Becomes A Member of Bretton Woods Committee
  10. FirstBank Appoints Mrs. Oluwande Muoyo as a Non-Executive Director
  11. FBNH Announces the Resignation of Mrs. Oluwande Muoyo As An Independent Non-Executive Director
  12. Adesola Adeduntan, CEO, Firstbank - How to Do Well by Doing Good
  13. FirstBank's Adesola Adeduntan Bags 'Best Chief Executive Officer' Award
  14. FBNH Appoints Mr. Muhammad K. Ahmad as Non-Executive Director
  15. FBNH Appoints Omatseyin Akene and Bosede Adebola as Directors
  16. FBNH Appoints Dr Hamzat Sule as Independent Non-Executive Director
  17. FBNHoldings Appoints Ariyibi to FBNQuest Capital, Borodo to FBNQuest Trustees Boards
  18. First Bank strengthens Board, appoints Bayo Adelabu as Executive Director

Proshare Nigeria Pvt. Ltd. 

Related News - First Bank

  1. FirstBank Launches a New Corporate Website, Reiterates its Commitment to Service Delivery Excellence
  2. FirstBank CEO Lists Technology, Capacity as Key for Post-COVID-19 Growth
  3. First Bank Promotes Diaspora Remittances, Rewards Customers with Extra N5 for Every Dollar Received
  4. First Bank Supports Schools with Array of Exciting Educational Solutions
  5. First Bank Deepens Financial Inclusion with Largest Agent Banking Network, Empowers SMEs
  6. S and P Global Ratings Affirmed First Bank of Nigeria Ltd Ratings, Outlook Stable
  7. First Bank Promotes Career Development of Staff, Graduates Third Set of its SMDP Participants
  8. Moody's Announces Completion of a Periodic Review of Ratings of First Bank of Nigeria
  9. First Bank Convenes SME Week, Reinforces its Support to the Engine of the Economy
  10. First Bank: Still Standing Gidigba 125 Years After
  11. First Bank Holds 125km Walk to Mark 125th Anniversary
  12. First Bank's Kicks Off 125th Anniversary Celebration With an Official Hosting of its Ceremonial Flag

Proshare Nigeria Pvt. Ltd. 

Related News - FBN Holdings Plc

  1. FBNH Declares N89.7bn PAT in 2020 Audited Results, Proposes 45K Final Dividend; (SP:N7.25k)
  2. FBNH Declares N65.9bn PAT in Q4 2020 Results, (SP:N7.60k)
  3. FBNH Releases its 2019 Sustainability Report
  4. FBNHoldings Group Wins Big at the 2020 Great Place to Work Awards
  5. FBNH Announces the Issuance of Unsecured Notes With 5-Year Maturity
  6. FBNH 2020 H1 Result: Profit Up 14.3% Y-o-Y, But Growth Strategy Still Vulnerable
  7. FBNH Injects N25bn Into First Bank
  8. FBNH Reacts to Online Publication On Merger Talks Involving First Bank
  9. FBNH Declares N49.5bn PAT in Q2 2020 Results, (SP:N5.00k)
  10. Fitch Affirms FBN Holdings Plc at 'B-'; off RWN; Outlook Negative

Proshare Nigeria Pvt. Ltd. 

Related News