OBI ATTRIBUTES STAMPEDE TRAGEDIES IN OYO, FCT, AND ANAMBRA TO HUNGER AND SYSTEMIC ISSUES. (PHOTO).

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 Peter Obi has blamed hunger and systemic failures for the recent spate of stampedes across the country.  Scores of persons were dead, and many others wounded in the tragic incidents in Ibadan, Oyo State; Okija in Anambra and another one in the nation’s capital of Abuja. The stampedes happened in a space of five days with the last two occurring on Saturday morning during food distribution campaigns. Obi, who was the Labour Party (LP)’s presidential candidate in the 2023 election, said the incidents underline the rising hunger in the country which has led to desperation. “I am deeply saddened and distressed by the tragic loss of lives in desperate searches for food,” Obi, who is a former governor of Anambra State, wrote in a post on his X account Saturday afternoon. “While I will not cast blame but instead appreciate the organizers of these respective events for their kind gestures in providing palliatives and support to society, especially the poor, these tragedies reflect the...
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FIRST BANK APPOINTS FIVE NEW DIRECTORS AS OTEDOLA TAKES OVER. (PHOTO).

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 First Bank appoints five new directors as Otedola takes over


In a significant development, First Bank of Nigeria Holdings Plc (FBN Holdings) has appointed five new directors, with billionaire Femi Otedola assuming the role of Chairman.


The appointments were made known on Wednesday, signaling a notable shift in the leadership structure of the company.


According to the announcement made to the Nigerian Exchange Group by the company’s Secretary, Adewale Arogundade, two new non-executive directors were appointed for FBN Holdings, namely Olusola Adeeyo and Viswanathan Shankar. Adeeyo, a former banker and former Chairman of AXA Mansard Insurance Plc, brings a wealth of experience to the role.


Shankar, currently serving as the Chief Executive Officer of private equity investments firm Gateway Partners, previously held the position of CEO at Standard Chartered Plc.


Additionally, Remilekan Odunlami was appointed as a non-executive director for First Bank, while Anil Dua and Fatima Ali were appointed as independent non-executive directors. Odunlami, with prior experience as a Director at CitiBank Nigeria Limited and FirstBank, currently serves on the boards of Access Pensions Limited and Rand Merchant Bank Limited. Dua’s board affiliations include Dangote GSP Offshore FZE and Seychelles International Mercantile Banking Corporation, among others, while Ali, the founder of Santi Food and Beverage Limited, is actively involved in mental health charity initiatives.


The appointments of the five new directors are subject to the approval of the Central Bank of Nigeria (CBN), underscoring the regulatory compliance aspect of the process.


Otedola’s ascension to the role of Chairman follows the exit of Ahmad Abdullahi. Otedola, also the Chairman of Geregu Power, brings his extensive business acumen and experience to his new position. Recently ranked by Forbes as the 20th richest African with a fortune of $1.1 billion, Otedola was initially appointed to the Board of FBN Holdings Plc on August 15, 2023, as a Non-Executive Director.


The appointment of new directors and the change in leadership at FBN Holdings reflect the company’s commitment to effective governance and strategic management as it navigates the evolving financial landscape.

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