Barely a month after First Bank Nigeria Limited, FBN, sacked Folake Ani-Mumuney, the Head of its corporate communications department, some top executives has been removed from their jobs by the management of Nigeria’s premier bank.
At least 100 senior staff members, including some top executive staff are affected in the latest shake-up, Nairametrics reports.
The newspaper, quoting sources in the bank, reported that the decision to throw the staff into the job market as 2024 winds down may not be unconnected with the ongoing restructuring in the bank.
According to the sources, the bank’s game plan is to replace the old staff with new ones, in line with the direction set by Femi Otedola, the Chairman of the bank as he plans to restructure the commercial bank for the new year.
Recall that Otedola on December 9, spearheaded the sack of Ani-Mumuney, the bank’s Global Head of Marketing and Corporate Communications, after blaming her for the lavish party organised by the bank for erstwhile Managing Director, Adesola Adeduntan in November.
Adeduntan, the magazine recalls was sacked in a very controversial circumstances following a N60 billion fraud that took place under his watch as the commercial bank’s chief executive.
The business mogul, had, following Adeduntan’s removal in June been instrumental to the appointment of Olusegun Alebiosu as FBN managing director, a move described by keen analysts in the banking and financial sector as his quest to fully consolidate his position and protect his interests as the largest shareholders in one of Nigeria’s commercial banks.
In June this year, Otedola took the position of the commercial bank’s largest stockholder after increasing his shares in FBN Holdings -direct and indirect-to 3,380,462,950 — from 2,517,282,140 shares.
He had, by that action, displaced Oba Otudeko, which through his company, Barbican Capital had the controlling shares of 3,110,400,619.
Discover more from The Source
Subscribe to get the latest posts sent to your email.
