Nigeria’s oldest lender, First Bank of Nigeria Limited, has announced the retirement of Deputy Managing Director Gbenga Shobo which, the board said, took effect on 27 February.
“The retirement comes ahead of Mr Shobo’s attaining the mandatory retirement of 60,” it said.
The decision was made “in compliance with a recent directive of the Central Bank of Nigeria (CBN) on Tenure of Directors, via a Circular dated February 24, 2023, to Deposit Money Banks (DMB),” it added.
A Monday, March 6, regulatory filing by FBN Holdings, the parent company, said Mr Shobo has been a board member of Nigeria’s oldest lender since 2012.
Source: Premium Times
