Dr. Adesola Adeduntan resigned his position as the managing director of 130-year-old First Bank of Nigeria Limited.
Adeduntan resigned his appointment with the front-line bank eight months before the expiration of his tenure in line with lay down rules in the company.
It was learnt Mr Adeduntan reacted to a supposed letter written to Mr. Tunde Hassan-Odukale, the chairman of First Bank,
The letter titled read :‘Notice of Retirement”, The bank CEO whose tenure ought to elapse on December 31, 2024, voluntarily decided to step down.
“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 First Bank for a record time of nine years.
“During this period the bank and its subsidiaries has 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 20 April, 2024, to pursue other interests.
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