The Central Bank of Nigeria (CBN) has approved Ahmad Abdullahi’s appointment as Chairman and Non-Executive Director of First Bank Holdings PLC.
CBN Director of Corporate Communications Osita Nwanisobi made the announcement over the weekend.
According to Nwanisobi, the apex bank was notified of Babalola’s resignation as Chairman of the company amid a battle for control of First Bank Holdings PLC by some significant shareholders.
The CBN spokesman thanked Babalola for his services and praised the company’s achievements while he was in charge.
Abdullahi, the new Chairman, is an economist with extensive experience in academia, banking supervision, and financial regulation, having retired as Director of Banking Supervision at the Central Bank of Nigeria (CBN) in February 2020.
He also serves on the boards of the Africa Finance Corporation (AFC), FMDQ, NDIC, and AMCON, and is an expert in bank crisis resolution.