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Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" (24120 Views)

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Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by nams77: 1:23pm On Apr 29
airsaylongcome:


Informations?!?! No wonder na ILETS you dey teach
It is phone wahala. Thanks for the correction. The noun, ' information' can be countable or uncountable.
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by HarunaWest(m): 1:25pm On Apr 29
DeLaRue:



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.




The query seems more personal than professional.
This is Nigeria.

1 Like

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by airsaylongcome: 1:28pm On Apr 29
nams77:

It is phone wahala. Thanks for the correction. The noun, ' information' can be countable or uncountable.

Only in very specific contexts which does not include the one you have used it in

2 Likes

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by TOPCRUISE(m): 1:29pm On Apr 29
How about the randy FCMB MD. We don't hear about him again
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by streetfabulous: 1:42pm On Apr 29
CBN is simply saying that there is more to this new appointment than meets the eyes and FBN should come with the full gist. A bank that is enjoying regulatory forbearances and liquidity support from CBN should at least carry CBN along.
The articles is also a surface revelation of the financial health of FBN. The continuous mention of regulatory forbearances and liquidity support from CBN is a red flag.
And why is CBN taking so long to sanction FBN for refusing to divest their non-permissible interests ? If it were to be a mid-sized or small bank , I am sure they would have dealt with them long ago. Why the partiality?

2 Likes

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Chibuhealth(f): 1:46pm On Apr 29
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by deenee: 1:50pm On Apr 29
helinues:
sad

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

Ayam not understanding

First bank is a quoted company has shareholders and is enjoying regulatory forbearance from the CBN and is the apex regulator so yes they have a say.

1 Like

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by deenee: 1:52pm On Apr 29
helinues:
sad

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

Ayam not understanding

First bank is a quoted company, has shareholders and is enjoying regulatory forbearance from the CBN and is the apex regulator so yes they have a say.

1 Like

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by meekah: 1:57pm On Apr 29
shegzhkn:
Misplaced Priorities, what the hell is their business ??
perhaps you are ignorant of the working of CBN as the regulatory authority for bank in Nigeria

1 Like

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Vaughanlanrewaj: 2:00pm On Apr 29
DeLaRue:



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.





Please stop this seeming inferiority complex sir. The letter is far more professional and succint than any other central bank will write. The Bank of England you alluded to is notorious and known for supervising and regulating UK banks where stolen funds from all over the world are kept. Such a corrupt central bank supervising such funds,unlike CBN, will think twice before writing a letter that exposes them as culprit .

I am very proud of CBN. The objective of the letter is clear, it conveys authority and the urgency of the issue at hand. It is not meant to be a love letter from one keeping stolen money to the thief sir.

3 Likes

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Marvieduke(f): 2:02pm On Apr 29
aspabay:


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

If I insult you, your life would never experience something good. Ode.
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by aribs(m): 2:11pm On Apr 29
Vaughanlanrewaj:


Please stop this seeming inferiority complex sir. The letter is far more professional and succint than any other central bank will write. The Bank of England you alluded to is notorious and known for supervising and regulating UK banks where stolen funds from all over the world are kept. Such a corrupt central bank supervising such funds,unlike CBN, will think twice before writing a letter that exposes them as culprit .

I am very proud of CBN. The objective of the letter is clear, it conveys authority and the urgency of the issue at hand. It is not meant to be a love letter from one keeping stolen money to the thief sir.
how can i like this twice?

1 Like

Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by aspabay(m): 2:17pm On Apr 29
Marvieduke:


If I insult you, your life would never experience something good. Ode.

Apart from insults, what other 'heritage' did you fathers bequeath to you.
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by shegzhkn: 2:44pm On Apr 29
aspabay:


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.

You are definitely passing through some things, thought and prayers.
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by shegzhkn: 2:47pm On Apr 29
meekah:
perhaps you are ignorant of the working of CBN as the regulatory authority for bank in Nigeria

Regulate their operations - yes .
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by aspabay(m): 2:55pm On Apr 29
shegzhkn:


You are definitely passing through some things, thought and prayers.

grin grin grin grin grin is that all you have to say after spewing trash, or is everything just cruise for you?
Well some of us are here for serious discuss and not just to catch cruise or garner likes
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by SavageResponse(m): 3:00pm On Apr 29
DeLaRue:



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.



If the CBN had waited to do an investigation first the passage of time would have reduced the seriousness of the matter at hand.

Also be aware tat it was not the CBN that put the letter in the public domain, the recipient did...the Chairman Ibujun Awosika and by extension First Bank Limited!
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by mapet: 3:17pm On Apr 29
Marvieduke:
Wetin concern CBN with the affairs of first bank appointing a C.E.O.

Did you ask this question because you're seeking to know or you think you know?
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by AITuzhi: 3:39pm On Apr 29
smartty68:
By their forehead you shall know them.

True! proudly a Muslim!!!
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by shegzhkn: 3:46pm On Apr 29
aspabay:


grin grin grin grin grin is that all you have to say after spewing trash, or is everything just cruise for you?
Well some of us are here for serious discuss and not just to catch cruise or garner likes

Lol, ur optics needs to change.
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by smasher1(m): 3:55pm On Apr 29
Bamibor:


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

In light of the foregoing, you are required to explain why disciplinary action should not be taken against the Board for hastily removing the MD/CEO and failing to give prior notice to the CBN before announcing the management change in the media.

So CBN is taking DC
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Durklil: 5:43pm On Apr 29
Hmmm
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Primenet(m): 7:01pm On Apr 29
Bad Belle people everywhere
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Prechy08(m): 8:37pm On Apr 29
Wahala

See ehhh if not for CBN ehh many big banks for din go. Those of you asking what is CBN own. Better allow them oooo if only you know the kind of deals that happen.

As for first bank them no try at all, they should know the policy na. No CBN approval and you are announcing the new MD. What is their internal control doing?

Las las we go hear the full gist letter.
Re: Adesola Adeduntan: CBN Queries First Bank As CEO Is ‘Purportedly Forced Out" by Nobody: 1:54am On Apr 30
See how some youth are supporting First Bank and dissing CBN...
Ignorance everywhere?
These are the people stealing your future and those of the yet unborn.

First bank, by extension Oba Otudeko, Ibukun Awosika and co have blatantly refused to divest the banks investment in Honeywell and that doesn't ring anything to the youth?

They use our common wealth to create stupendous wealth for themselves and their cronies without any thought for others. When a few at the top refuse to creat opportunities for others, nothing will trickle down as it should.
Nigeria is stuck in this quagmire because ALL those who are saddled with the responsibility of looking out for others in society keep appropriating the chunk of it to themselves and leaving only the crumbs for the majority.

Yet the youth don't get that these educated elites are really the enemy, not the 4/4 year Politicians.
Go figure!

PS ... CBN is no Saint either. They waited 4 years? What kind of regulatory authority is that? Paddy paddy officials everywhere.

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