Remi Babalola on Friday reportedly stepped down from his position as the Chairman, First Bank of Nigeria Holdings Plc (FBNH).
While there has been no official announcement on the development, internal sources confirmed that Babalola has given up his position in the financial company.
The development is coming few months after he was confirmed as the Chairman of the FBNH in April by the governor, Central Bank of Nigeria, CBN, Godwin Emefiele.
RBabalola 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.
The New Diplomat had reported that Otedola acquired an additional 2.5 percent in FBN Holdings Plc, becoming the single largest shareholder in the company, shooting his total equity stake to 7.57 percent.
Babalola’s Executive Management experience cuts across Banking, Auditing and Consulting. Before joining the Board of FBNHoldings Plc, Remi was once an Executive Director at First Bank of Nigeria Limited from where he was appointed Minister of State for Finance and Supervising Minister for the Federal Capital Territory.
