LEADERSHIP TUSSLE IN FIRST BANK
-3 DIRECTORS RESIGN IN ONE WEEK
Three executive directors in First Bank of Nigeria Plc have reportedly resigned due to what is referred to as leadership tussle.
An insider in the bank alleged that the three top executives of the leading bank had lobbied for the post of the Deputy Group Managing Director of the Bank, which became vacant after the resignation of the erstwhile occupier of the post, which took effect from October 1. The three senior executives were said to have beaten their chests that they would succeed at all cost.
An impeccable source alleged that in the hierarchy of management of the bank, taking into cognizance years of service and qualifications, one of the three executives was qualified to assume the post, but he was sidelined by the GMD/CEO of the bank, Bisi Onasanya, who picked someone from Risk Management Department as DGMD.
The three directors, who resigned their appointment over the issue are the Chief Financial Officer, Oladele Oyelola, Executive Director, South-West, Bola Adesola and Banking Operation and Services Executive Director, Abdu Abubakar Those who should know revealed that as soon as an internal memo was circulated among the directors notifying them of the appointment of the new DGMD, the three directors threw in the towel because each of them had anticipated that he would be given the appointment.
When officials of the Brand & Communication Department of the bank was contacted to react to the matter, they gave no reason for the action of the top executives, but they said that interim replacements had been named, while qualified persons are being sought for the jobs.
A source in the bank, who preferred anonymity, quoted Onasanya as saying, "We are very proud of the achievements of these individuals and their significant contributions towards the strengthening and sustaining of First Bank's leadership position."
First Bank, one of the top five banks based on total assets in Nigeria, has operations in Britain, France and South Africa and expects to sign an agreement with Bank of China soon.