BREAKING: CBN Takes Over FBN Holdings

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    …returns Sola Adeduntan as First Bank of Nigeria limited MD

    The Central Bank of Nigeria (CBN) has officially taken over FBN Holdings Plc amid the board management tussle and failure to comply with regulatory policy on insider-related loans.

    The CBN governor, Mr. Godwin Emefiele in Abuja on Thursday said the action taken by the apex bank is meant to strengthen the bank and protect customers’ deposits.

    He also announced that the removed Managing Director of First Bank of Nigeria Limited, Mr. Sola Adeduntan should be reinstated immedtaiely.

    …more details later.

     

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