Remi Babalola has resigned as chairman Of FBN Holdings, Brand Spur Nigeria reports.
The former Minister of State for Finance, Remi Babalola resigned as chairman, board of directors of First Bank Holdings.
Remi Babalola resigned from the position just two days after the company confirmed significant investment by billionaire businessman, Femi Otedola.
Babalola was appointed FBN Holdings chairman on April 29.
Remi Babalola Resigns As Chairman Of FBN Holdings
Reports said the company had informed regulators about the development.
FBN Holdings is the parent company of First Bank of Nigeria.
Despite his shareholding status, Otedola had said the move was purely an investment decision and not to become the chairman or hold any key position in the company.
He said:“Being the single largest shareholder doesn’t mean I must necessarily hold a position in the bank. I believe in allowing competent people to run institutions in a professional manner and to the benefit of all the stakeholders.”
