Folowing the resignation of Remi Babalola as Board Chairman of First Bank of Nigeria(FBN), the Central Bank of Nigeria (CBN) has confirmed the appointment of Ahmad Abdullahi to chair the board of the financial services group, FBN Holdings Plc.

CBN’s spokesman, Osita Nwanisobi said in a statement that Babalola resigned following the ongoing contest by some significant shareholders for control of First Bank Holding Plc.

While congratulating Abdullahi on his appointment, the CBN described Babalola’s resignation as chairman of the company as regrettable, especially given the fact that CBN’s regulatory interventions had made positive impact and increased attractiveness of the company to both local and foreign investors.

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