There are strong indications that the chairman of FBNHoldings Plc, Mr. Remi Babalola has resigned from the bank.
Reasons cannot be immediately confirmed, but sources said his resignation last night may not be unconnected with his concerns about the management of the bank’s exposure to oil & gas loans.
As part of the Central Bank of Nigeria(CBN)’s intervention in April,2021, the apex bank appointed Mr. Remi Babalola as the new chairman of the FBNHoldings.
Remi Babalola was an Executive Director of First Bank of Nigeria Plc in charge of Lagos and West business as well as consumer Banking and electronic payments until his appointment as honourable Minister of State for Finance on July 26, 2007.
He has both brain-on and hands-on experience in organisational renewal, value creation and leadership effectiveness.
Remi Babalola was a Deputy General Manager (DGM) and Divisional Head of Corporate Planning & Group Coordination of the Bank before his appointment to the board.
Remi was a General Manager with Zenith Bank Limited before he was headhunted by FirstBank. He had a meritorious rise through the ranks from a Deputy Manager to a General Manager, spanning over a decade of cognate banking experience.
His background and experience includes development and implementation of new initiatives to upgrade customer service quality, management of a high quality risk assets portfolio, management of a fast growing deposit base, proactive formulation of strategies to generating superior profitability and direction of asset liability management.
Meanwhile,when our correspondent contacted the Central Bank of Nigeria (CBN) for confirmation of the development, the spokesman of the Apex bank, Mr Osita Nwanisobi, said he was yet to get the information about Babalola’s resignation.