Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,150,195 members, 7,807,662 topics. Date: Wednesday, 24 April 2024 at 05:01 PM

Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" (25439 Views)

How Adeduntan Resigned As First Bank CEO On Cbn’s Order / First Bank Accepts CBN New Board As Adeduntan Resumes / First Bank Appoints Shobo MD/CEO, Adeduntan Retires (2) (3) (4)

(1) (2) (3) (Reply) (Go Down)

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by GreenWire(m): 11:37am On Apr 29, 2021
e don red o
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Cooladex(m): 11:38am On Apr 29, 2021
grin
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by LaIabobo: 11:41am On Apr 29, 2021
Great
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by HarunaWest(m): 11:41am On Apr 29, 2021
Marvieduke:
Wetin concern CBN with the affairs of first bank appointing a C.E.O.
From ED level and above in every bank, CBN ought to vet the candidate..In fact DSS vets the nominated candidate.. This banks have a lot of CBN funds and interventions injected into them moreover CBN is the regulatory body for banks in Nigeria. So ideally, they ought to communicate key decisions to the CBN.

7 Likes

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Masterkernel1: 11:43am On Apr 29, 2021
Hiploko:
Na wa o.

This kind of board harsh ooooo...

Why the rush?


If he has being financially silly, why will they retain him?
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Diamondplus1805(m): 11:45am On Apr 29, 2021
Following
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Powerexpert: 11:46am On Apr 29, 2021
The C get share for the F. So F cannot change anyone without C's notice. Padi padi things, dem go gather settle am together. Just that the chaos and drama is not necessary when you definitely have an ulterior and end game to it. CBN should know better while FBN knows best. Politics in play
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by aspabay(m): 11:47am On Apr 29, 2021
shegzhkn:
Misplaced Priorities, what the hell is their business ??
Lucas10:
Wetin concern CBN with FBN?
What else will a loud mouthed Nlder say.

You are asking what is the business of a regulator to query the motive behind change in leadership of a bank.
The bank just received liquidity support from CBN. CBN deserves to know whatever is going on.

If you don't know what to say just STFU and move on.

7 Likes

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by PHIPEX(m): 11:47am On Apr 29, 2021
This high powered board politics is about to sink many of them including Honeywell.

How do you change a bank's CEO without informing a whole CBN?

3 Likes

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by aspabay(m): 11:48am On Apr 29, 2021
Marvieduke:
Wetin concern CBN with the affairs of first bank appointing a C.E.O.

Ignorance is no longer bliss. Did you attend any school at all?

6 Likes

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by yinks77: 11:50am On Apr 29, 2021
If first Bank were to be owned by Dangote, will thís Aboki be swift to to issue querry to his company. U can imagine blind man regulating a one eyed man.
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by tit(f): 11:54am On Apr 29, 2021
helinues:
sad

Is it CBN that's going to dictate who becomes the next first bank MD/CEO?

Ayam not understanding


The borrower is slave to the lender.

Oba Otukedo is going to jail for inside lending.
His own is worster than Madoff

3 Likes

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by usb2016(m): 11:54am On Apr 29, 2021
In Banking Sector, any level from Senior Manager's level is subject to CBN approval. Just have that understanding.. Thanks

Is it CBN that's going to dictate who becomes the next first bank MD/CEO?

Ayam not understanding[/quote]
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Saint99: 11:54am On Apr 29, 2021
No comment

1 Like

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by DWJOBScom(m): 11:55am On Apr 29, 2021
tit:



The borrower is slave to the lender.

Oba Otukedo is going to jail for inside lending.
His own is worster than Madoff

The dude is so aggressive when it comes to insider trading.
He takes everything including the crumbs
BUT i love his honeywell semolina sha

1 Like

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by xtremecr8: 11:59am On Apr 29, 2021
We have been victim of FBN Plc and badly unfairly treated when we designed their 125th Year Anniversary logo and this same management and board were in charge and we were not paid for our sweat and toil . We are least surprised but pray that FBN will rise again and correct it's unfair system that denied us of our labour creating their 125th Year Anniversary logo.

We appealed to the same board and CBN but it appeared our appeal for justice all fell on deaf ears but we know we serve a God of Justice. We will not relent. It is our sweat and we deserve to be paid.

Here's the Nairaland thread on our predicament in the hands of the FBN management under Mr Adeduntan and appeal going on for years now

https://www.nairaland.com/5591806/how-first-bank-did-not

And here's our video narrating our ordeal


https://m.facebook.com/ReportYourself/videos/723288038412109/?refsrc=https%3A%2F%2Fm.facebook.com%2FReportYourself%2Fvideos%2F723288038412109%2F&_rdr

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Yankee101: 12:03pm On Apr 29, 2021
Oba Otudeko, the hand behind the veil


Thieves everywhere

2 Likes

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by usoroakpan(m): 12:05pm On Apr 29, 2021
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Nobody: 12:05pm On Apr 29, 2021
"However, the CBN in the letter stated: “We are concerned that the bank has not complied with regulatory directives to divest its interest in Honey Well Flour Mills despite several reminders. We further noted that after four years the bank is yet to perfect its lien on the shares of Mr. Oba Otudeko in FBN Holdco, which collateralised the restructured credit facilities for Honey Well Flour Mills contrary to the conditions precedent for the restructuring of the company’s credit facility.

“Given the bank’s failure to perfect the pledge and satisfy conditions for regulatory approval, the restructuring has thus been invalidated and the credit facilities now payable immediately.”

Consequently, the central bank has requested that HoneyWell, “ fully repays its obligations to the bank within 48 hours failing which the CBN will take appropriate regulatory measures against the insider borrower and the bank.”

It added: “Furthermore, the Bank notes the untenable delay in resolving the long outstanding divestment from Bharti Airtel Nigeria Ltd in line with extant regulations of the CBN.

“Accordingly, you are required to divest the equity investments in all non-permissible entities such as Honey Well Flour Mills and Bharti Airtel Nigeria Limited within 90 days. Please you are to forward evidence of compliance in accordance with the timelines above to the Director of Banking Supervision.”[/color]


[color=#000000]

The things we see in this country! 4 years of warning to a financial institution and a whole chairman of a bank?
Nigeria is a real paddy paddy country. Our elites continue to behave as if there are no laws. No wonder the citizenry is also lawless.

Seriously, we need to stop blaming these politicians. They are just continuing where the elites leave off.

No politicians can steal without the connivance of accountants, bankers, lawyers, engineers etc.

Nigerians need to start calling out these educated elites and stop naming only Buhari.
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Nobody: 12:18pm On Apr 29, 2021
True! They should use him as scapegoat. Nonsense!
I am very disappointed in Ibukun Awosika for being a part of this.
So difficult to trust or belief in anyone in this country. Why are we so lawless?

tit:



The borrower is slave to the lender.

Oba Otukedo is going to jail for inside lending.
His own is worster than Madoff
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Nobody: 12:21pm On Apr 29, 2021
Stop it! Just stop it! angry
yinks77:
If first Bank were to be owned by Dangote, will thís Aboki be swift to to issue querry to his company. U can imagine blind man regulating a one eyed man.
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Nobody: 12:23pm On Apr 29, 2021
Wow! They never paid you till date?
xtremecr8:
We have been victim of FBN Plc and badly unfairly treated when we designed their 125th Year Anniversary logo and this same management and board were in charge and we were not paid for our sweat and toil . We are least surprised but pray that FBN will rise again and correct it's unfair system that denied us of our labour creating their 125th Year Anniversary logo.

We appealed to the same board and CBN but it appeared our appeal for justice all fell on deaf ears but we know we serve a God of Justice. We will not relent. It is our sweat and we deserve to be paid.

Here's the Nairaland thread on our predicament in the hands of the FBN management under Mr Adeduntan and appeal going on for years now

https://www.nairaland.com/5591806/how-first-bank-did-not

And here's our video narrating our ordeal


https://m.facebook.com/ReportYourself/videos/723288038412109/?refsrc=https%3A%2F%2Fm.facebook.com%2FReportYourself%2Fvideos%2F723288038412109%2F&_rdr
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Stevyne: 12:30pm On Apr 29, 2021
CheedyJ:
Make dem sha no touch my small change for their bank....
Na that one concern you. Lol!
Before you go see say dem comot am use am do ATM maintenance charge
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by 1030(m): 12:41pm On Apr 29, 2021
The plot from the so called new MD Gbenga Shobo
and Abdullahi Ibrahim to kick out the recognised MD by CBN seem like a Military coup.

I never like that Shobo of a guy,is like a snake under the green grass.

Shobo will be the problem of FirstBank if this is not handle now.

1 Like

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by CheedyJ(m): 12:53pm On Apr 29, 2021
Stevyne:
Na that one concern you. Lol!
Before you go see say dem comot am use am do ATM maintenance charge
I Dey tell you
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Nimrod81: 12:57pm On Apr 29, 2021
1030:
The plot from the so called new MD Gbenga Shobo
and Abdullahi Ibrahim to kick out the recognised MD by CBN seem like a Military coup.

I never like that Shobo of a guy,is like a snake under the green grass.

Shobo will be the problem of FirstBank if this is not handle now.


Come on. This has nothing to do with Shobo. If you're the one the board appoints won't you be happy? The board should explain it's actions. If it's acceptable then fine. If it's not then too bad..
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by OnlyDeCapPlease(m): 12:58pm On Apr 29, 2021
Bamibor:


Source: https://www.thisdaylive.com/index.php/2021/04/29/cbn-queries-first-bank-as-ceo-is-purportedly-ousted/

The man never chop reach?

Wetin consign me though. This one na mere passing of baton from one team member to another.
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Qoko: 12:58pm On Apr 29, 2021
Most of past MDs of the FBN has one or two corrupt issues but they can’t make it public cos of cBN and probably EFCC.
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by DeLaRue: 1:08pm On Apr 29, 2021
HarunaWest:

From ED level and above in every bank, CBN ought to vet the candidate..In fact DSS vets the nominated candidate.. This banks have a lot of CBN funds and interventions injected into them moreover CBN is the regulatory body for banks in Nigeria. So ideally, they ought to communicate key decisions to the CBN.



The tone and publication of that letter is so unprofessional. It reads like a rant typical of communications between opposing Nigerian politicians.

The CBN could have done its investigation, compel the bank's response, take action and choose an appropriate time to publicise its penalty.


Rushing out an unabridged, too-detailed public communication in this manner dents the CBN's professional standing and ironically harms the systematic banking stability that the CBN alleges First Bank's actions were likely to undermine.

A central should not be engaged in media wars.

Bank of England will not behave like this.

1 Like

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by airsaylongcome: 1:15pm On Apr 29, 2021
nams77:
Noted


In other news, register for ILETS/TOEFL Lectures in Warri and Environ.

Check my signature to call our customer service personnel for informations.

Informations?!?! No wonder na ILETS you dey teach

1 Like

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Kobicove(m): 1:16pm On Apr 29, 2021
The CBN is right on this one undecided

(1) (2) (3) (Reply)

Has Anyone Used MANIX Capsules, Please Advice Me Please. / 5 Types Of People Around You When You Start Making Money / Governor Emefiele And His Parallel Foreign Exchange Universe

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 49
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.