FBN Holdings Plc, the holding company of First Bank Nigeria Limited, on Thursday, announced the appointment of Nnamdi Okonkwo as its Group Managing Director.
The Board of the bank announced this in a letter it wrote to the Nigeria Exchange Limited. The letter was dated October 28, 2021.
FBN Holdings’ Board also announced the removal of First Registrars and Investors Services Limited, and their replacement with Meristem Registrars Limited, with effect from December 1, 2021.
Mr. Okonkwo is the immediate past managing director of Fidelity Bank Plc.
FBN Holdings said Okonkwo will assume office from January 1, 2022, although this is still subject to the approval of the Central Bank of Nigeria, and the shareholders at the next Annual General Meeting of FBN Holdings,
Okonkwo will replace Mr. U.K. Eke, the retiring GMD who is retiring from the bank with effect from December 31, 2021.
The Board also took other decisions affecting the management of the bank. It approved the renewal of the appointments of Dr. Adesola Adeduntan and Mr. Gbenga Shobo as the Managing Director and Deputy Managing Director of FirstBank, respectively, for another term.
FBN Holdings Plc. approved the appointment of Mrs Tope Orhionsefe Omage as a Non- Executive Director of First Bank of Nigeria Limited by the Board of FirstBank, subject to the approval of the CBN.
Mr. Okonkwo has a wealth of experience in transformational leadership, business strategy development and visioning, innovative corporate governance, and risk management. He has led the transformation of banks, with the most recent being Fidelity Bank, where he led the management team in seven years to achieve remarkable results culminating in tripling profit and shareholder value.
Okonkwo previously served as the Executive Director for Southern Nigeria in Fidelity Bank. He has worked meritoriously on an international level in his capacity as the Managing Director of UBA Ghana; Director, UBA Liberia and a Director of the Ghana National Banking College.
He has served in various leadership positions across other financial institutions including Broad Bank of Nigeria Ltd; Citizens International Bank, Nigeria; FSB International Bank Plc, Nigeria; Guaranty Trust Bank Plc, Nigeria; and Merchant Bank of Africa, Nigeria. Mr Okonkwo made remarkable feats as a Director in various organizations including UBA Ghana, UBA Liberia, Nigeria e-government Strategy (Negst), Nigeria Interbank Settlement System Plc, Unified Payment System Ltd, and as Chairman, Shareholders Audit Committee FMDQ, amongst others.
which in the past week has witnessed some rumblings arising from battles for corporate control, on Thursday said it had fired its registrars, and also made major executive changes.
