Etido Uyai-Abasi
Nigeria’s oldest lender, First Bank of Nigeria Limited has announced the retirement of Deputy Managing Director Gbenga Shogo and the appointment of a new executive director, which the board said took effect on February 27th.
According to report, the retirement comes ahead of Mr Shobo’s attaining the mandatory retirement of 60 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).
Report also revealed that, Mr Shobo has been a board member of apex bank since 2012 and previously held the positions of general manager for corporate/commercial banking at the lender’s sister company FBN Merchant Bank and the chair of the underwriting arm FBN General Insurance.
It was also gathered that the bank’s top hierarchy has approved the appointment of Oluseyi Oyefeso as the executive director for the Retail Banking South Directorate of the bank.