So because due process wasnt followed in removing a CEO, the whole directors had to be changed? Well, expect top management changes too o....the die has been cast.

A simple reinstatement plus some warnings would have suffice fa.

Interesting.

FarahAideed:
This is clearly a game of Ego and not of mismanagement like the CBN wants you to believe....very poor handling by the CBN , this is beginning of crisis for FBN

Please can u explain further wat u meant?

Loiloi Hassan, unexpectedly got de top job.

I pray he move de top back forward

An ILISAN man now leads FBN, I hope those yahoo boys will learn

Oba Otudeko won't go down without a fight. Regarded as the doyen of the banking sector and a boardroom strategist. He has finally come to his end and I heard that the man is a boardroom bully. I admire him sha.

A lengthy court war is brewing. Lawyers will soon cash out big time.

I don't know what wrong I've done to First Bank Plc. The bank has not paid me dividend on the shares I've with them for many years now.

Power tussle ..... I suspect, but with time, we shall know the truth

SavageResponse:
So this is how Ibukun Awosika's career in First Bank ended, just like that.

The number of people calling her to come give motivational speeches will dwindle dramatically

Google that name again and know read more about her profile. You think is just first bank?

Guys the story long.

Adedutan was apparently sacked and not retired like they earlier said. So adedutan took the matter to CBN. What happened was that Otunba otudeko, chairman and owner of Honeywell wanted some uncollatarized additional loan from FBN using shares as collateral which is against the ethics of banking. If you remember well, the baking crisis of Nigeria was once attributed to this. Shares is an investment a volatile asset.

So as you know 9ja now, they use ojoro sack adedutan put thier guy there.

See ehn alot of dirty rackets are happening in banking , not just here in Nigeria but worldwide.

So CBN gave them FBN Query, for honey well to pay within 48hrs its outstanding loan. So all the people who approved the precious loan not following due process are affected.

This life ehn, oga get oga.

My advice : As an employee, dont be loyal to your company o, mind your business. When the chips are down, your compnay no send you.

This same banks get internal audit department ooo, claiming they are monitoring everything. Sacking ppl who floated procedures.

Did anybody see the sharing of cash to victims of a fire market in the North. I thought there was cashless policy. Smh

Still love the bank, not the people.

ikaboy:




Google that name again and know read more about her profile. You think is just first bank?

It's not just First Bank but everyone who is versed in corporate affairs knows that First Bank is the icing on the cake!

Focusmind:
Oba Otudeko won't go down without a fight. Regarded as the doyen of the banking sector and a boardroom strategist. He has finally come to his end and I heard that the man is a boardroom bully. I admire him sha.

A lengthy court war is brewing. Lawyers will soon cash out big time.

Which yeye court war? Otudeko should go and repay his loans.

Why should he be using First Bank depositors funds as his personal piggy bank?!

Awosika fall my hand!

sisisioge:
So because due process wasnt followed in removing a CEO, the whole directors had to be changed? Well, expect top management changes too o....the die has been cast.

A simple reinstatement plus some warnings would have suffice fa.

They broke regulatory practices on some major insider loans they had failed to correct even after 4years, the board removed the CEO abit suspiciously CBN asked for responses probably it wasn’t given or satisfactory. The board is at fault on many regulatory issues.

Jesuschristus:
Why are they both Yoruba??

What a question!! People like you are Nigeria's problem

SavageResponse:


It's not just First Bank but everyone who is versed in corporate affairs knows that First Bank is the icing on the cake!

Bullseye!

Everything shouldn't be politicised especially when it comes to strategic decisions such as this. I long predicted this and expected it.
Have you considered and examined the Bank's Capital Adequacy Ratio and NPL in the last 5years?
Yes, I know virtually all Banks in Nigeria have poor CAR and NPL, and CBN is only managing and monitoring the situation, it's not enough ground and excuse to continue to engage in credit and financial recklessness.

My humble summation

FarahAideed:
This is clearly a game of Ego and not of mismanagement like the CBN wants you to believe....very poor handling by the CBN , this is beginning of crisis for FBN

Focusmind:
Oba Otudeko won't go down without a fight. Regarded as the doyen of the banking sector and a boardroom strategist. He has finally come to his end and I heard that the man is a boardroom bully. I admire him sha.

A lengthy court war is brewing. Lawyers will soon cash out big time.

You read that wrongly Sir/Ma! Insider abuse of FBN has been going on for as long as anyone can remember. That is the issue which, if left unattended, could negatively impact the Nigerian banking system considering the strategic role FBN plays in our economy!

tit:
No Niger Delta?
We no get money for FBN

There is Peter Aliogo is from Delta

Please can you guys continue
I am learning so much here.

Zenith bank needs shakeup too. It had become the most useless bank in African and Nigeria by extension.

Hope our money is safe , how can someone borrow money and hasn't paid it and still come for another . Is people's money his using to do play .

Interesting times

thebosstrevor1:


https://www.google.com/amp/s/punchng.com/first-bank-shake-up-hassan-odukale-replaces-awosika-as-chairman/%3famp

良い考え良い製品
Yoi kangae yoi seihin

SavageResponse:
So this is how Ibukun Awosika's career in First Bank ended, just like that.

The number of people calling her to come give motivational speeches will dwindle dramatically

Who says?

Realstick941:
I know we hate most of our institutions in this country but i think CBN from the time of soludo till now has been doing a good job in regulating our greedy banks. But we need to stop shielding them from foreign competion

No country does that! Your economy will be controlled by offshore entities and you are had!

sisisioge:
So because due process wasnt followed in removing a CEO, the whole directors had to be changed? Well, expect top management changes too o....the die has been cast.

A simple reinstatement plus some warnings would have suffice fa.

Simple reinstatement plus warning is not enough deterrent.
In the banking industry, before you are promoted to the rank of Manager, Senior Manager, Assistant General Manager, Deputy General Manager, GM, Deputy Managing Director and MD, your name will be forwarded to the CBN for vetting and approval. How much more the MD of a systemic important bank like FBN.
The former board said it's part of their policy that no MD will stay beyond 10 years, that is true and good corporate governance, but fell fowl of the law by not informing the CBN.

Welding the big stick will further prevent other banks from making this mistake that is just avoidable.

What I see here is Awosika and gang still want to cover up Oba Honeywell. Now honeywell is in big shit, they have to pay up.

Jesuschristus:
Why are they both Yoruba??

Do you have a problem with that.

Eyah, she thought she will stay longer than she expected, next time she will learn to follow laid down rules and regulations.

Jesuschristus:
Why are they both Yoruba??

Could you please take your focus away from their tribes

Good move by the CBN