The Chairman, board of administrators of First Financial institution of Nigeria Holdings, Remi Babalola, has resigned his appointment, Naija Information stories.

This on-line information platform stories that that is coming days after billionaire businessman Femi Otedola acquired extra shares to turn out to be First Financial institution main share holder.

The resignation of Babalola, who was appointed Chairman in April 29, 2021, has come as a shock to many within the banking and monetary trade.

It was gathered that FBN Holdings have already knowledgeable regulators concerning the newest improvement.

Naija Information stories that FBN Holdings is the mother or father firm of First Financial institution of Nigeria (FBN).

Recall that Otedola had acquired a further 2.5 % within the firm, making him the one largest shareholder within the monetary organisation.

It was gathered that Otedola’s stake has now risen over that of Tunde Hassan-Odukale, one other shareholder.

In the meantime, talking with reporters in Lagos, Otedola had mentioned being the one largest shareholder within the firm doesn’t imply he should essentially maintain a place within the financial institution.

He mentioned: “Being the one largest shareholder doesn’t imply I need to essentially maintain a place within the financial institution. I imagine in permitting competent individuals to run establishments in knowledgeable method and to the good thing about all of the stakeholders.

“That’s an establishment with a world-class company governance construction and a powerful performing administration that creates worth and ensures returns in type of dividends and capital appreciation.”

Otedola mentioned he purchased extra shares within the firm as a result of he was satisfied that FBN Holdings has a shiny future.

Obtain NAIJA NEWS app:

Download Naija News App for Android

By admin