FirstBank MD Proceeds on Pre-Retirement Leave from April 20
Dr. Adesola Kazeem Adetuntan, the Managing Director of FirstBank Plc, has announced a decision to go on pre-retirement leave starting April, 20, 2024 amidst an ongoing capitalisation programme in the banking sector.
He conveyed his decision to the Chairman of First Bank, Hassan Odukale, via a letter. He said in the letter that he would have retired from the bank in December but decided to proceed on pre-retirement leave effective April 20.
Adeduntan, who was appointed CEO of the bank on January 1, 2016, also stated in his resignation letter that he was leaving to pursue other interests. The bank chief faced forced retirement in 2021 after a board coup was reinstated few days following the intervention of the regulator, the Central Bank of Nigeria.
“As you are aware, my contract would be expiring on 31 December, 2024, after which I would no longer be eligible for employment within the bank having served as the Managing Director/Chief Executive Officer of FirstBank for a record time of nine years.
“During this period, the bank and its subsidiaries have undergone significant changes and broken new grounds. We have repositioned the institution as an enviable financial giant in Africa. I have, however, decided to proceed on retirement with effect from April 20 April, 2024, to pursue other interests.
“I am eternally grateful to the board of directors of FirstBank and FBN Holdings Plc for the support that I received from them during my stewardship. I wish our iconic institution continue success and progress as we move into the next phase of its evolution. Warm regards”, the letter reads.
