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.
Otedola, insiders said, 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 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 conspicuous absence, the party had
in attendance many dignitaries and top management of the bank.
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