December 17, (THEWILL) – Mr Remi Babalola has resigned his appointment as chairman of FBN Holdings Plc.
This is coming about eight months after he assumed the position following the abrupt exit of his predecessor, Oba Otudeko in April 2021.
His exit is coming at a time when the biggest shareholder has emerged at the holdco in the person of billionaire mogul, Femi Otedola.
Mr Otedola is reported to have disclosed that he has no interest in any board position in both the group and its subsidiaries.
THEWILL, however, learnt from competent sources that he will soon be appointing someone onto the holdco’s board.
Mr Babalola was formerly an executive director of FBN Holdings commercial banking arm FirstBank of Nigeria Limited, with his broad experience spanning consulting, auditing, training and banking.
His career began at the consultancy PricewaterhouseCoopers before he moved to American holding company Arthur Andersen and then Zenith Bank, variously serving as chief strategist, financial controller and general manager at the lender.
His resignation has not been officially confirmed by the company.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
