Breaking News: First Bank's Top Director, Shobo, Resigns As Cbn New Rule Kicks Off, More To Go - Legitvibes ✮

Breaking News: First Bank Top Director Shobo Resigns as New CBN Rules Take Effect

– In a significant move that highlights the shifting landscape of the Nigerian banking sector, Gbenga Shobo , a top executive at First Bank of Nigeria Limited , has officially retired from his position . This departure follows the implementation of new corporate governance guidelines by the Central Bank of Nigeria (CBN) , which have introduced stricter tenure limits for bank executives and directors. The End of an Era for Shobo Breaking News: First Bank Top Director Shobo Resigns

Executive Directors who eventually become MDs are restricted to a total cumulative tenure of 24 years at the same institution. Gbenga Shobo, who most recently served as the

Gbenga Shobo, who most recently served as the , has been a key figure on the FirstBank board since 2012. His career at Nigeria's oldest lender spanned over a decade, during which he oversaw critical divisions including Retail Banking and Public Sector businesses. who most recently served as the

A maximum of 12 years for Managing Directors (MDs), up from the previous 10-year limit in some cases.