Nigeria's independent online newspaper
Less than three years after embattled former Central Bank of Nigeria Governor, Godwin Emefiele, instituted a new board of directors at FBN Holdings, there are heavy indications that the premier banking institution is worse off for it.
These revelations have prompted some shareholders and financial analysts to question the nature of the relationship between FBN’s management and the regulatory authority, calling for a thorough investigation into the financial arrangement.Since the new FBNH board of directors was instituted, concerns have arisen about the board’s independence, integrity, and decision-making process, as well as the potential for power abuses.
Billionaire businessman Femi Otedola, who owns a 5.57% stake in FBNH was also controversially appointed to the board as a non-executive director.
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