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Nairaland Forum / Nairaland / General / Politics / CBN Fires First Bank Directors (45676 Views)
BREAKING: I’ll Probe N241bn Debt, Abba Gida-gida Fires First Shot At Ganduje / First Bank Directors Fired To Protect Customers, Minority Shareholders – CBN / FIRS Retires All Directors Who Have Served For Eight Years (2) (3) (4)
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Re: CBN Fires First Bank Directors by Nobody: 9:11pm On Apr 29, 2021 |
thebosstrevor1:https://www.vanguardngr.com/2021/04/cbn-sacks-first-bank-directors-retains-adeduntan-as-md/ CBN confirmed previous MD was removed for adherence to bank policies by influential directors with heavy credit exposure they obtained through Insider loans. 4 Likes 1 Share |
Re: CBN Fires First Bank Directors by SouthSouth1914: 9:11pm On Apr 29, 2021 |
CSTRR: My dear, the CBN are neck deep in corruption. It’s objectives and monetary policies should be adhered to. It is unfair to mingle in banks issues! Else it becomes we have now, CBN will be given directives who becomes this or that. When financial institutions (CBN) begin issuing these things it sends out a strong message as who is boss! CBN know it’s functions and should stick to it! |
Re: CBN Fires First Bank Directors by seyz91(m): 9:12pm On Apr 29, 2021 |
i wonder too oo cuz i no know wetin concern them yanabasee1: |
Re: CBN Fires First Bank Directors by MarketDispatch: 9:13pm On Apr 29, 2021 |
SmartPolician: For the first time so far, seems Emefiele is starting to grow balls between his legs.... the only CBN gov that has not collected awards. 2 Likes |
Re: CBN Fires First Bank Directors by SouthSouth1914: 9:14pm On Apr 29, 2021 |
thebosstrevor1: The regulations are there! Banks still have their initial 25BN deposit with the CBN, daily/monthly updates by the CBN are being carried out by the banks. CBN dabbling into local banks politics is totally wrong, myopic and sends a strange negative signal! 1 Like |
Re: CBN Fires First Bank Directors by martooski(m): 9:15pm On Apr 29, 2021 |
SouthSouth1914: What's this one saying 3 Likes |
Re: CBN Fires First Bank Directors by Nobody: 9:16pm On Apr 29, 2021 |
SouthSouth1914:Read the official statement 2 Likes |
Re: CBN Fires First Bank Directors by Nobody: 9:16pm On Apr 29, 2021 |
SouthSouth1914:https://www.vanguardngr.com/2021/04/cbn-sacks-first-bank-directors-retains-adeduntan-as-md/ 2 Likes |
Re: CBN Fires First Bank Directors by Yankee101: 9:18pm On Apr 29, 2021 |
Otudeko hunting season |
Re: CBN Fires First Bank Directors by Yankee101: 9:19pm On Apr 29, 2021 |
yanabasee1: Technically, yes. There was First bank before cbn and most cbn governors came from firstbank |
Re: CBN Fires First Bank Directors by Nobody: 9:21pm On Apr 29, 2021 |
RuudVanNisteroy: Did you read the CBN governor speech because what you posted is different from the cbn governor speech, also, what you posted is contradictory because the loan was collected during the tenure of the previous md. Here is some of the cbn governor statement from that same article. It was therefore surprising for the CBN to learn through media reports that the board of directors of FBN, a systemically important bank under regulatory forbearance regime had effected sweeping changes in executive management without engagement and/or prior notice to the regulatory authorities. The action by the board of FBN sends a negative signal to the market on the stability of leadership on the board and management and it is in light of the foregoing that the CBN queried the board of directors on the unfortunate developments at the bank. Note: no mention of obadeko or his loan was mentioned in the governor statement, the main issue was first bank non compliance with cbn regulations when changing directors. |
Re: CBN Fires First Bank Directors by ntyce(m): 9:23pm On Apr 29, 2021 |
thebosstrevor1: Was the retirement voluntary? Why did the CBN return him as the MD after sacking the board. If he truly retired, then he shouldn't be back.. He was forced out due to a clash within the board. From what I heard, Adenuga - who is also a shareholder is fighting Otudeko.. 4 Likes |
Re: CBN Fires First Bank Directors by ntyce(m): 9:27pm On Apr 29, 2021 |
thebosstrevor1: So you think CBN will mention that.. Did CBN mention Ayeni's loan when sacking board of Skye Bank? Do you understand what CBN meant by - the bank under forebearance? It meant the bank has not been able to meet up it's obligations, the CBN had to inject liquidity to support. 9 Likes 1 Share |
Re: CBN Fires First Bank Directors by Nobody: 9:27pm On Apr 29, 2021 |
ntyce: Yes, it was a voluntary retirement. He was returned because due process of informing cbn wasn't followed by the bank. You aren't in the board, so conspiracy theories is not acceptable. |
Re: CBN Fires First Bank Directors by SouthSouth1914: 9:28pm On Apr 29, 2021 |
martooski: Don’t put your nose where your opinion is not asked nor needed. I was trying to resolve an argument with someone else. Go back re read through. |
Re: CBN Fires First Bank Directors by BroGeor(m): 9:30pm On Apr 29, 2021 |
would see an old man of 80 years engaging in corrupt practices as if he is 40 years old. With no care for generations unborn except his own family. And then Society will expect you to respect him because he is old. 90% of the old in Nigeria are not deserving of respect. And they are the ones manning our political stratosphere. 1 Like |
Re: CBN Fires First Bank Directors by SouthSouth1914: 9:32pm On Apr 29, 2021 |
RuudVanNisteroy: Announcing the decision to sack the Directors at a briefing in Abuja, the CBN Governor, Godwin Emefiele, said that the apex bank had to remove the Directors for trying to remove Mr Adeduntan from office without consulting the regulars. Isn’t this petty politics? Who are the regulars? CBN? This sounds like cherry picking to me. Are all bank’s board of directors to seek the CBN before appointment of MDs? Is there a blueprint with legal backing or CBN is just trying to flex muscles? |
Re: CBN Fires First Bank Directors by Nobody: 9:33pm On Apr 29, 2021 |
ntyce: In the case of Mr Ayeni of skye bank. The cbn sacked the md and the board after finding what what the md did and the cbn pumped in 100 billion as bailout. The bank petition efcc, he was arrested. |
Re: CBN Fires First Bank Directors by ntyce(m): 9:35pm On Apr 29, 2021 |
thebosstrevor1: If you've been in the industry you will be aware of FBN's issues... 3 Likes |
Re: CBN Fires First Bank Directors by calebadeosun: 9:38pm On Apr 29, 2021 |
RuudVanNisteroy:this useless back debited me for 4800 for SMS and Ussd .ole bank |
Re: CBN Fires First Bank Directors by VictorUSA(m): 9:39pm On Apr 29, 2021 |
CBN has just exercised its power as the apex bank in nigeria. 1 Like |
Re: CBN Fires First Bank Directors by Agbegbaorogboye: 9:44pm On Apr 29, 2021 |
BigBashiru:And what if these banks fail? Who do you run to for your money? 2 Likes |
Re: CBN Fires First Bank Directors by Heishere: 9:52pm On Apr 29, 2021 |
thebosstrevor1: Oga he is correct. Regulatory policies come first. Then internal policies come next. Infarct, internal policies are drafted in compliance with regulatory policies. It is not possible for internal policies to supersede regulatory polices otherwise there will be no need for regulatory bodies. 3 Likes |
Re: CBN Fires First Bank Directors by CorperKola: 9:54pm On Apr 29, 2021 |
Nonkit:m guessing banks in UK dont run on generator and buy fuel to run operations, you pple dont have any idea how much voting useless politicians into office affect lives 4 Likes |
Re: CBN Fires First Bank Directors by CorperKola: 9:57pm On Apr 29, 2021 |
SouthSouth1914:how long will it take you to understand a simple scenario, i hope you are not slow upstairs?? the board had gone rogue and was trying to crash the bank and the chairperson was a pawn like i always suspected 4 Likes |
Re: CBN Fires First Bank Directors by MrSamsung(m): 10:00pm On Apr 29, 2021 |
DDDEnterprises: Thanks man |
Re: CBN Fires First Bank Directors by Agbegbaorogboye: 10:01pm On Apr 29, 2021 |
thebosstrevor1:Beht, sebi you saw "a systemically important bank under regulatory forbearance" in the statement and someone even pointed you to the phrase yet you're still arguing up and down like a troubled kid. Why are you like dis self? 4 Likes |
Re: CBN Fires First Bank Directors by Agbegbaorogboye: 10:04pm On Apr 29, 2021 |
thebosstrevor1: So in your village, somebody will voluntarily retire and will be dragged back to the position because his placenta is buried there? Which village is that self? 3 Likes |
Re: CBN Fires First Bank Directors by Nobody: 10:08pm On Apr 29, 2021 |
Agbegbaorogboye: I still don't understand how it relates with first bank situation. Md retire voluntarily, the bank sets up a new board without informing cbn. Cbn sacked new board because they weren't informed, how does this situation relates with your situation above |
Re: CBN Fires First Bank Directors by Agbegbaorogboye: 10:11pm On Apr 29, 2021 |
thebosstrevor1: I have asked you a question. If someone voluntarily retires, can he be forced back into the position he retired from voluntarily? 4 Likes |
Re: CBN Fires First Bank Directors by Nobody: 10:13pm On Apr 29, 2021 |
Agbegbaorogboye: First bank have been under regulatory forbearance since last year. The former md has been in office since 2017, isn't he the cause of why the bank is in distress. So what is your point?? |
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