The Central Bank Governor of Nigeria CBN, Godwin Emefiele has explained the reasons behind the suspension of Chairman First Bank Holdings, Oba Otudeko, CEO of First Bank, Ibukun Awosika and others.
The governor explained in a statement released to news men which reads in part:
“I spoke to Dr. Oba Otudeko; he refused to grant my entreaties. I had cause to call two of his major shareholders to ask him to ask the board not to take such decisions without the approval of the CBN, but he refused to pick the calls of these shareholders who are co-owners of the bank.
“I called him a second time and heard one of the shareholders listening to me on another line, begging Dr. Otudeko that he should not take that decision, he insisted on taking that decision.
“We hung up the phone and I sent that shareholder back to the office of Mr. Oba Otudeko to appeal to him to please suspend the decision to remove the MD. He refused to see the shareholder.
“I feel we had done our best and that we would not allow a shareholder who feels that he cannot subject himself to regulatory control and authority to remain as a director of the bank.
“So, we didn’t have any choice but to take this decision.
As we speak, the chairman of the bank was queried, Ibukun Awosika, we are yet to receive any response. In any case, I would imagine that response is no longer necessary.”