Federal Character
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
Federal Character
No Result
View All Result
Home Business & Finance

Otedola Shakes Up First Bank Board: Reshaping or Power Grab?

Eriki Joan UgunushebyEriki Joan Ugunushe
March 21, 2024
in Business & Finance
0
Otedola Shakes Up First Bank Board: Reshaping or Power Grab?
Share on FacebookShare on TwitterShare on Whatsapp

Billionaire businessman Femi Otedola has wasted no time flexing his muscles as the new Chairman of First Bank of Nigeria Holdings Plc. In a move that sent shockwaves through the Nigerian financial sector, five new directors were appointed to the board – two for the holding company and three for First Bank itself.

Let’s dissect this power play. Otedola, Africa’s 20th richest man according to Forbes, isn’t known for taking a passive approach. The appointments raise a critical question: is this the dawn of a new era for First Bank, or a consolidation of Otedola’s control?

The new recruits boast impressive pedigrees. Olusola Adeeyo, a veteran banker and former insurance chief, brings a wealth of experience. Viswanathan Shankar, the CEO of a prominent private equity firm and ex-CEO of Standard Chartered Plc, adds global financial expertise.

Otedola Shakes Up First Bank Board: Reshaping or Power Grab?

But here’s the rub. For all their experience, some see these appointments as simply solidifying Otedola’s grip. Questions linger about diversity of thought within the boardroom. Will these new directors be true checks and balances, or simply yes-men?

Meanwhile, the appointments at First Bank itself raise eyebrows. Remilekun Odunlami, a seasoned director with experience at Citibank and First Bank, is joined by Anil Dua, whose resume boasts a string of board positions across various industries. But some analysts question the inclusion of Fatima Ali, founder of a food and beverage company, on the board of a major bank. Does her expertise align with the complexities of the financial sector?

Only time will tell if this new guard can usher in a period of growth and stability for First Bank. CBN approval is still pending, and whispers abound about potential conflicts of interest. One thing is certain: the gloves are off, and the drama has just begun at Nigeria’s leading financial institution.

Tags: federal characterNewsOtedola Shakes Up First Bank Board: Reshaping or Power Grab?
Eriki Joan Ugunushe

Eriki Joan Ugunushe

Eriki Joan Ugunushe is a dedicated news writer and an aspiring entertainment and media lawyer. Graduated from the University of Ibadan, she combines her legal acumen with a passion for writing to craft compelling news stories.Eriki's commitment to effective communication shines through her participation in the Jobberman soft skills training, where she honed her abilities to overcome communication barriers, embrace the email culture, and provide and receive constructive feedback. She has also nurtured her creativity skills, understanding how creativity fosters critical thinking—a valuable asset in both writing and law.

Related Posts

Maryland Pays $340m To Conowingo Dam Owner
Business & Finance

Maryland Pays $340m To Conowingo Dam Owner

October 5, 2025
October Onslaught: Naira Free-Falls as Dollar, Euro, Pound Tighten the Noose
Business & Finance

October Onslaught: Naira Free-Falls as Dollar, Euro, Pound Tighten the Noose

October 5, 2025
Trumps Tariffs Wipes U.S Soybeans Exports as Aid Aids Argentina
Business & Finance

Trump’s Tariffs Wipe Out U.S. Soybeans Exports as Aid Aids Argentina

October 5, 2025
Next Post
Federal government takes meaningful steps to alleviate rice poverty

Federal government takes meaningful steps to alleviate rice poverty

Nigerian Stock Market experiences its first boost this week

Nigerian Stock Market experiences its first boost this week

Stock markets soar as central banks play wait-and-see with interest rates

Stock markets soar as central banks play wait-and-see with interest rates

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

“We need Every Team member As there are still A lot Of Games” – Christain Erikson

“We need Every Team member As there are still A lot Of Games” – Christain Erikson

3 years ago
TCN Completes Rehabilitation of Vandalized Transmission Towers

TCN Completes Rehabilitation of Vandalized Transmission Towers

1 year ago
Temu Owner's Profits Plunge Amid US-China Trade War

Temu Owner’s Profits Plunge Amid US-China Trade War

4 months ago
Controversial Actress Tonto Dike Dishes Out Relationship Advise

ASUU Strike: The Federal Government Gives Assurance That Universities Would Be Re-opening Soon

3 years ago

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

Topics

2023 Aboki/Bureau De Change (BDC) apc Arsenal buhari Business cbn chelsea china court Davido Dollar Efcc Election Entertainment Euro and Pounds To Naira Exchange Rate For Today exchange rates for the Nigerian Naira (NGN) Fashion federal character federal government Finance food Football Foreign News government health inec Israel lagos Manchester United Naira Naira Black Market exchange rates News Nigeria pdp police Politics president protest Russia Sports tinubu trump ukraine US
No Result
View All Result

Highlights

Diddy Booked For Miami Gigs Despite 10yr Sentence

Haaland Fires Man City Past Brentford to Keep Title Chase Alive

Russell Wins in Singapore as McLaren Seal Constructors’ Title

Kylie Jenner Just Wore a ‘Naked’ Paper Dress, and It’s the Boldest PFW Trend

Mary Njoku Drops Advice for Men Navigating Postpartum Changes in Partners

Should Liverpool Be Worried or Is This Just a Phase?

Trending

Imisi Crowned Winner of BBNaija Season 10
Entertainment

Imisi Crowned Winner of BBNaija Season 10

byAyobami Owolabi
October 5, 2025
0

Imisi has been crowned the winner of Big Brother Naija Season 10, securing the N150 million grand...

Maryland Pays $340m To Conowingo Dam Owner

Maryland Pays $340m To Conowingo Dam Owner

October 5, 2025
Appeals Court Rules Against Trump in Birthright Citizenship Battle

Appeals Court Rules Against Trump in Birthright Citizenship Battle

October 5, 2025
Diddy Booked For Miami Gigs Despite 10yr Sentence

Diddy Booked For Miami Gigs Despite 10yr Sentence

October 5, 2025
Haaland Fires Man City Past Brentford to Keep Title Chase Alive

Haaland Fires Man City Past Brentford to Keep Title Chase Alive

October 5, 2025

We launched Federal Character in February 2021 based on the belief that the world is in need of smarter and more efficient reporting of events shaping our rapidly changing world. We pledged to put our audience first, always.

Recent News

  • Imisi Crowned Winner of BBNaija Season 10
  • Maryland Pays $340m To Conowingo Dam Owner
  • Appeals Court Rules Against Trump in Birthright Citizenship Battle

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

© 2024 FederalCharacter.com

No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion

© 2024 Federalcharacter.com