The appointment of Ahmad Abdullahi as a non-executive director and chairman of First Bank Holdings PLC has been approved by the Central Bank of Nigeria (CBN).
Abdullahi’s appointment follows the resignation of Remi Babalola as chairman of the company.
Recall Babalola was appointed following the sack of Dr. Oba Otudeko as Chairman of FBN Holdings PLC.
The development is also coming days after a new biggest shareholder emerged in the financial company.
According to Osita Nwanisobi, CBN director of corporate communications, the apex bank was notified of the resignation of Babalola as chairman of the company against the backdrop of the contest by some significant shareholders for control of First Bank Holdings PLC.
The CBN spokesman thanked Babalola for his services and acknowledged the strides recorded by the company under his watch.
Abdullahi, the new chairman, is an economist with long years of experience in academia, banking supervision and financial regulation, and he retired as director of banking supervision, CBN in February 2020.
He is also an expert in bank crisis resolution, and also served on the boards of the Africa Finance Corporation (AFC), FMDQ, NDIC and AMCON.
