“I’ve Always Acted In Honour” – Ousted First Bank Chairman, Awosika, Breaks Silence

• “I am confident we have brought First Bank of Nigeria to a place where it is more than able to deliver”

Ibukun Awosika, the former chairman of First Bank Nigeria Limited, says every step she took and decision she made when she held sway as the financial institution helmsperson was geared towards the growth of the bank.

Ekohotblog had on Thursday reported the sacking of the Ibukun Awosika-led board of the bank by the Central Bank of Nigeria (CBN) following the controversy that trailed the unethical removal of the bank’s managing director, Adesola Adeduntan and sharp financial practices.

The apex bank rejected the appointment of Gbenga Shobo as first bank new managing director and chief executive officer with effect from April 28.

CBN asserted that the tenure of Adeduntan was yet to expire, adding that it is not aware of any report from the board indicting the managing director of any wrong-doing or misconduct.

Speaking for the first time since the imbroglio, Awosika said decision to  remove Adeduntan as the bank’s managing director was taken in the bank’s best interest

In a Instagram post on Friday, Awosika said she’s never exploited her position to aggrandize herself or feather her own nest.

She narrated how she climbed up the rung of corporate ladder and rose through the ranks to become the chairman of Nigeria’s foremost financial institution.

Awosika said she joined the bank’s board in October 2010 after which she was appointed to chair the board of FBN Life Insurance Limited.

“In early 2013, I was moved from FBN Life Insurance Ltd, to assume the chairmanship of FBN Capital working with a brilliant team led by Kayode Akinkugbe as the Managing Director,” she wrote.

“We worked hard to build the institution, bought Kakawa Discount House which I was again asked by the Group to Chair. We eventually merged the companies to create the FBN quest Merchant Bank Group, which I chaired until my appointment as Chairman of First Bank of Nigeria on January 1st 2016″

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She said she had worked with committed team of board and management and, with assistance of the CBN, they had been able to reposition and revamp the bank.

“For over five years, I have worked with a dedicated team of board and management, with the support of Central Bank of Nigeria to rebuild and restructure the institution for its future. This included cleaning up institution for its future. This included cleaning up non performing loans, establishing good operational governance systems and processes, building controls and an effective and robust risk management system.”

Awosika expressed confidence in the potential of the tier-1 lender.

She added that she has always acted with honour and integrity in the best interest of the bank and its stakeholders.

“I am confident we have brought First Bank of Nigeria to a place where it is more than able to deliver utmost value to its stakeholders and the nation at large,” she added.

“As a board, we acted in what we clearly believed to be in the best interest of the bank and we had great plans and aspirations for where the bank could go to in its future, building on all the work that has already been done in the last five plus years.

“Without a shadow of doubt, I will unequivocally state that I have always acted in honor and integrity with the utmost interest of the institution, all our stakeholders and the Nation.”