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The Central Bank of Nigeria (CBN) has has approved 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,who conveyed this in a statement,explained d that the bank had been duly notified of the resignation of Mr. Babalola, as Chairman of the company.
Congratulating Alhaji Abdullahi on his appointment, the bank’s spokesman 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.
He said the CBN acknowledged the measured achievements recorded by the company under Babalola’s watch, and thanked him for his service, even as the CBN wished him well in his future endeavours.
According to Nwanisobi, the regulatory measures taken by the CBN were yielding the expected results in terms of overhaul of corporate governance practices, restoration of confidence in the bank’s brand, increased transparency and due process in transactions as well as improved financial performance.
The bank’s spokesman said the CBN remained committed to ensuring transparent governance practices at the bank and the continued independence of the chairman and other persons holding key governance positions.
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