Fear of AMCON takeover grips Otudeko’s Honeywell as First Bank shares fell by 6%

…CBN announcement may trigger an AMCON takeover of Honeywell Nigeria Plc if Oba Otudeko fails to repay his loans.

First Bank Nigeria Holdings (FBNH) closed with a loss of -6.6%, placing it at the third position in the NSE ASI for Thursday, reports Nairametrics.

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First Bank Boardroom Crisis: CBN Sacks All Directors, Sweeps Shobo Aside, Reinstates Adeduntan As MD

the action sends a negative signal to the market on the stability of leadership on the board and management

The Central Bank of Nigeria (CBN) on Thursday announced the sacking of all board members/directors of First Bank Holding and First Bank Nigeria Limited.

 Godwin Emefiele, the CBN governor, announced their query when he addressed the media Thursday.

The CBN governor further announced the reinstatement of Adesola Adeduntan as First Bank Managing Director.

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