Alhaji Ahmad Abdullahi will be the third chairman of First Bank Holding Plc this year

The Central Bank of Nigeria (CBN) has approved the appointment of Alhaji Ahmad Abdullahi as the non-executive director of First Bank Holdings Plc and chairman of the company following the resignation of Mr. Remi Babalola from the same position.

The CBN Governor, Godwin Emefiele had in April 2021, announced Mr. Babalola as Chairman of the bank after sacking the board led by Oba Otudeko.


His resignation, however, comes exactly two days after the company confirmed significant investment by billionaire businessman, Femi Otedola.

Otedola acquired an additional 2.5 percent in FBN Holdings Plc, becoming the single largest shareholder in the company.

Based on this, the equity stake of Otedola is now 7.57 percent of the issued shares capital of FBNH.

Alhaji Ahmad Abdullahi will be the third chairman of First Bank Holding Plc this year.

His appointment as Chairman and non-executive Director of First Bank Holding Plc was revealed by Osita Nwanisobi, the CBN’s Director of Corporate Communications.

Mr. Abdullahi, the next Chairman, is an economist and thoroughbred professional with extensive experience in academics, banking supervision, and financial regulation, having retired as Director of Banking Supervision at the Central Bank of Nigeria in February 2020.

He is also an expert in bank crisis resolution, and also serves on the boards of the Africa Finance Corporation (AFC), FMDQ, NDIC & AMCON.

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