As one of the millions of minority shareholders of First Bank Plc, I commend the Governor of Central Bank of Nigeria, Mr. Godwin Emefiele and his team for the timely intervention to prevent the First Bank Plc from going into distress. From the comprehensive press briefings by the CBN Governor, it was clear that First Bank had been in trouble because of insider loan abuses.
The same powerful minority board members with huge sums of non-performing loans took the decision to remove the MD/CEO to pave way for a pliable stooge. It would have been a disaster but for CBN.
Ayo Olalere, Ibadan.
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