Remi Babalola, who was appointed chairman of FBN Holdings Plc by the Central Bank of Nigeria in April following the abrupt departure of his predecessor, Oba Otudeko, as per reports retrieved by Freelanews, has stepped down from the position.
Despite the traction of the new information there has been no official statement or announcement concerning the issue including that from the Nigerian Exchange Limited According to sources acquainted with the issue, no official announcement, including from the Nigerian Exchange Limited, has yet been made.
Mr. Babalola’s exit comes as the Holdco’s new majority shareholder, billionaire Femi Otedola, a former Nigerian Minister of State for Finance, takes over.
Mr. Otedola has declared that he has no desire to serve on the boards of the company or its subsidiaries, although it is likely that he will appoint someone to the Holdco board.
Mr. Babalola has extensive expertise in consulting, auditing, training, and banking, having previously served as an executive director of FBN Holdings’ commercial banking unit, FirstBank of Nigeria Limited.
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