Nigeria’s oldest lender, First Bank of Nigeria Limited, has announced the retirement of its Deputy Managing Director Gbenga Shobo which, the board said, will take effect on February 27.
“The pension was before Mr. Shobo got the mandatory pension of 60,” he said.
The decision was made “in accordance with the new directive of Central Bank of Nigeria (CBN) on the Position of Directors, through a Circular dated February 24, 2023, for Deposit Money Banks (DMB),” he added.
A Monday regulatory filing by FBN Holdings, the parent company, said Mr Shobo has been a board member of Nigeria’s oldest lender since 2012.
He previously held the position of general manager for corporate/commercial banking at sister company FBN Merchant Bank and chairman of the underwriting arm of FBN General Insurance.
Meanwhile, FBN Holdings said elsewhere in the document the top hierarchy of the bank has approved the appointment of Oluseyi Oyefeso as executive director for Retail Banking South Directorate of the bank.
At various points in the past, Mr. Oyefeso was the group executive, Commercial and Retail Banking Southern Division, and the group executive, Commercial and Retail Banking Lagos & Western Division.
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Mr. Oyefeso assumed the position of branch manager in one of the three main branches of First Bank in 2006 when he joined the organization. The roles he previously held varied from group head and business development manager to country managing director of FBN Bank Ghana Limited.
“An experienced banker and Chartered Accountant, Seyi started his banking career in January 1993 and has acquired extensive knowledge in Retail, Corporate & Commercial Banking, Credit Risk Management (Analysis & Administration) and Financial Control,” said FBN Holdings.
A fellow of the Institute of Chartered Accountant of Nigeria, Mr. Oyefeso trained as an accountant and is also an associate of the Chartered Institute of Taxation of Nigeria.
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