First Bank Bows to CBN Directives, Reinstates Adedutan CEO

First Bank of Nigeria on Friday confirmed that Dr Adesola Adeduntan had resumed as the Chief Executive Officer in line with the directives of the Central Bank of Nigeria (CBN).

A statement by the management of the bank said Adeduntan had resumed as directed by the apex bank.

“We can confirm that the bank is cooperating with the Central Bank of Nigeria and other regulators while the operations of the Bank are not hampered or hindered in any way and are in fact running smoothly.

“We further wish to reassure the public, our esteemed customers and stakeholders in the words of the Governor of the Central Bank in concluding his press conference,” said the statement.

The CBN governor had said, “The CBN hereby reassures the depositors, creditors and other stakeholders of the bank of its commitment to ensuring the stability of the financial system.”

According to the management of First Bank, 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.