Abdullah Emerges First Bank Chairman After Babalola’s Resignation

The Central Bank of Nigeria (CBN) has accepted Alhaji Ahmad Abdullahi’s appointment as Chairman and non-executive Director of First Bank Holding Plc.

This comes after Mr. Remi Babalola, the company’s former Chairman, just resigned.

Mr Osita Nwanisobi, the CBN’s Director of Corporate Communications, revealed the apex bank’s approval of Alhaji Abdullahi on Friday evening.

According to him, CBN has been duly notified of Mr. Babalola’s resignation as Chairman of the company.

The CBN congratulated Alhaji Abdullahi on his appointment, even as it described the resignation of Babalola as “regrettable”.

Thanking Mr Babalola for his service, CBN spokesman acknowledged the strides recorded by the company under the watch of the outgoing chairman, as he wished him well in his future endeavours.

The CBN spokesman added that the apex bank remained committed to ensuring transparent governance practises at the bank and the continued independence of the chairman and other persons holding key governance positions.

He also stressed that the bank acknowledged that its regulatory interventions had made a positive impact and increased the attractiveness of the company to both local and foreign investors.