Folake Ani-Mumuney was asked to resign as First
Bank’s global head of marketing and corporate communications by Femi Otedola,
the chairman of the holding company, insiders have told TheCable.
A top employee of the bank informed TheCable that
Otedola was “seriously irked” when he learned that a whopping sum was spent on
a send-off party for Adesola Adeduntan, the former MD of the bank who was
reportedly forced to resign over alleged negligence in a N60 billion electronic
fraud.
It is still unclear if Ani-Mumuney’s resignation
is directly linked to the party.
However, insiders said Otedola believed it was
“insensitive and wasteful” to throw such a lavish party when the clear
direction and mandate of the bank is to recapitalise and reposition the
institution from excesses of the past management.
The source also stated that Otedola, who has in
recent times developed a reputation for being a “no-nonsense activist
investor”, is planning to take more “drastic” decisions and actions to keep
First Bank on the track of impeccable banking “devoid of extravagance and waste
of shareholders’ resources”, TheCable was told.
The development has sent panic across the top
echelon of Nigeria’s oldest bank.
The source further said: “We are seeing efforts to
plug leakages that have set the institution back over the years.”
The send-off party was held at the Harbour Point,
Victoria Island, Lagos, on November 2, in honour of Adeduntan, who was GMD and
CEO for nine years until April 2024.
Despite Otedola’s absence, the party had in
attendance many dignitaries and top management of the bank.
TheCable
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