The CBN’s Director, Corporate Communications, Osita Nwanisobi disclosed late on Friday, December 17, 2021, that the Bank had been duly notified of the resignation of Mr. Babalola, as Chairman of the company against the backdrop of contest by some significant shareholders for control of First Bank Holding Plc.
Notwithstanding the recent development, he said the CBN acknowledged the measured achievements recorded by the company under Mr. Babalola’s watch, and thanked him for his service, even as the CBN wished him well in his future endeavours. In line with its statutory mandate, the CBN spokesman said the CBN remained committed to ensuring transparent governance practices at the bank and the continued independence of the chairman and other persons holding key governance positions.