First Bank sacks 100 senior staff

First Bank of Nigeria has sacked no fewer than 100 senior staff members in a major organisational shakeup.

Online platform Nairametrics disclosed this in a report published on Monday, December 30, 2024.

The publication quoted sources familiar with the matter as saying that the bank’s senior staff were asked to leave as part of its corporate restructuring and repositioning plan for 2025.

The sources said the exits appear to be part of a concerted effort by the board led by First Bank Chairman, Femi Otedola, to introduce new officials into several leadership positions in the bank.

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However, another source within the bank said some of the exits were voluntary, especially for senior executives who intend to explore other career prospects.

The publication added that the shakeup also affected a prominent executive director whose tenure was not renewed over mutually agreed circumstances.

Otedola had, on December 9, asked Folake Ani-Mumuney to resign as the bank’s global head of marketing and corporate communications.

Ani-Mumuney’s resignation was demanded after Otedola learned that a whopping sum was spent on a send-off party for the former Managing Director of First Bank, Adesola Adeduntan.

Adeduntan was said to have been forced to resign over alleged negligence in a N60 billion fraud.

The Star