The Central Bank of Nigeria (CBN) has okayed the appointment of Alhaji Ahmad Abdullahi as non-executive Director of First Bank Holding Plc. and Chairman of the company to replace Mr. Remi Balalola.

The CBN’s Director, Corporate Communications, Osita Nwanisobi disclosed late on Friday, December 17, 2021, that the Bank had been duly notified of the resignation of Mr. Babalola, as Chairman of the company against the backdrop of contest by some significant shareholders for control of First Bank Holding Plc.

While congratulating Alhaji Abdullahi on his appointment, the CBN described Babalola’s resignation as the Chairman of the company as regrettable, especially given the fact that CBN’s regulatory interventions had made positive impact and increased attractiveness of the company to both local and foreign investors.

Update news