First Bank Management Change, No Cause for Panic says CBN

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The CBN has reassured depositors, creditors and other stakeholders of First Bank of its commitment to ensure the stability of the financial system. Governor of Central Bank, Mr. Godwin Emefiele CON said this in a Press Conference on Thursday, 29 April 2021.

He said “There is therefore no cause for panic amongst the banking public, given that the actions being taken are meant to strengthen the bank and position it as a banking industry giant.

The bank also in a statement by its Group Head, Marketing & Corporate Communications, Folake Ani-Mumuney, assures its customers, stakeholders and the public that the operations of the Bank are not hampered or hindered in any way and “are in fact running smoothly”, with the immediate assumption to office of the new Managing Director, Mr. Sola Adeduntan.

The bank management had to be changed for the safety of depositors funds and stability of the financial sector.

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