A former Director, Budgeting Department, Central Bank of Nigeria, Dr. Titus Okunrounmu, has commended the apex bank for reinstating Adesola Adeduntan as the Managing Director/CEO of First Bank Nigeria Limited.
Okunrounmu said the CBN’s decision would boost investors’ confidence in the Bank.
The CBN Governor, Godwin Emefiele, had on Thursday in Abuja announced the sack of the board of First Bank of Nigeria.
He also directed the reinstatement of its former Managing Director/Chief Executive Officer, Adesola Adeduntan.
Okunrounmu said the proactive step by the CBN would ensure that investors into the commercial bank do not withdraw their investments due to the earlier changes.
In an interview with the News Agency of Nigeria on Friday in Ota, Ogun State, Okunrounmu described the reinstatement of Adeduntan as “fitting.”
He blamed the board of First Bank for beginning the processes which consumed them, by unlawfully sacking Adeduntan and appointing Gbenga Shobo as the new MD/COE.
He urged major players in the financial sector to willingly do what is right in order to save the banking sector from collapsing again.
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