Fraud allegations: First Bank shareholders seek to remove Otedola

PEOPLES GAZETTE

Some shareholders of First Bank of Nigeria Holdings Plc., on Wednesday called for the removal of chairman, Femi Otedola.

The group of shareholders, who own 10 per cent shares in the company, called for an Extra-Ordinary General Meeting to be held within 21 days, as provided by Section 215 (1) of the CAMA law, to achieve their demand, amongst others.

According to them, Mr Otedola emerged the FBN Holdings chairman by acquiring significant amount of shares with the influence of immediate past Central Bank of Nigeria (CBN) governor, Godwin Emefiele, adding that the bank’s former Chief Executive Officer, Adesola Adeduntan, assisted Mr Otedola, to take over the bank, as ordered by Mr Emefiele.

They claimed that Mr Otedola became a non-executive of the bank but without security clearance by the State Security Service and the Economic and Financial Crimes Commission.