March 21, 2024

FBN Holdings appoints 5 new directors under Otedola as chairman

Femi Otedola appointed chairman First Bank Holdings

By Peter Egwuatu

The Board of First Bank Nigeria, FBN Holdings Plc has appointed five new directors under the leadership of Femi Otedola as its chairman.

The Company disclosed this in a statement sent to the Nigerian Exchange Limited, NGX stressing that the appointments of the five new directors are subject to the approval of the Central Bank of Nigeria (CBN).

The Company’s secretary, Adewale Arogundade, in the statement stated that the Board has announced the appointment of Olusola Adeeyo and Viswanathan Shankar as non-executive director and independent non-executive director respectively in FBN Holdings.

“The Company also announced Remilekan Odunlami as non-executive director for First Bank while Anil Dua and Fatima Ali were appointed as independent non-executive directors.

The appointments of the five new directors are subject to the approval of the Central Bank of Nigeria (CBN)” the statement added.

Adeeyo, a former banker and ex-Chairman of AXA Mansard Insurance Plc, is currently the Chairman of Astral Waters Limited, a water bottling and delivery company.

Shankar, the Chief Executive Officer of private equity investments firm Gateway Partners, previously served as the CEO of Standard Chartered Plc.

Odunlami has served as Director at CitiBank Nigeria Limited and FirstBank. She currently sits on the Board of Access Pensions Limited as an Independent Non-Executive Director and the Board of Rand Merchant Bnak Limited as a Non-Executive Director.

Also, Dua has sat on the Board of Dangote GSP Offshore FZE, Seychelles International Mercantile Banking Corporation, Heirs Holdings Oil and Gas Limited, Matador Investment Management Limited and Africa Property Development Managers Limited.

Ali, founder of Santi Food and Beverage Limited, currently sits on the Board of Reconnect Health Development Initiative International, a mental health charity organisation.

It will be recalled that late January 2024, FBN Holdings Plc appointed Otedola as its new Chairman.
With his appointment, Otedola, also the Chairman of Geregu Power, succeeded Ahmad Abdullahi.

Otedola was first appointed to the Board of FBN Holdings Plc on August 15, 2023 as a Non-Executive Director.