After Three Terms, Adeduntan Steps Down as First Bank CEO
Kayode Tokede
The Managing Director of First Bank Nigeria Limited, Dr. Adesola Kazeem
Adeduntan, has resigned from the bank after leading the institution for three terms. In a letter seen by THISDAY,
yesterday, which was addressed to the Chairman of First Bank, Mr. Tunde Hassan-Odukale, titled, ‘Notice of Retirement,’ the bank CEO
whose tenure ought to elapse on December 31, 2024, voluntarily decided to step down. He would commence his pre-retirement leave
from today. Adeduntan, who was appointed CEO of the bank on January 1, 2016, also stated in his resignation letter
that he was leaving to pursue other interests. Continued on page 5
IMF: Nigeria’s Government Policies in Right Direction...
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Saturday, April 20, 2024 Vol 29. No 10601
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Soludo, Obi, Nwodo, Others Eulogise Ezeife as Former Governor is Buried...
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Ondo 2024: Aiyedatiwa, Ibrahim, Akinterinwa, Oke,12 Others Jostle for APC Ticket Fidelis David Finally, the much awaited day for the people of Ondo State has come, as the All Progressives
Congress (APC) in the coastal state will battle to produce its candidate for the November 16, 2024 governorship election through a direct primary
N E W S A N A LYS I S election. Penultimate Saturday, the party’s National Gubernatorial
Aspirants Screening Committee, gave all the 16 aspirants who picked the expression of interest and nomination forms a clean bill of health.
The aspirants in no particular order include the incumbent governor, Lucky Aiyedatiwa; former Commissioner for Finance, Wale Akinterinwa;
Olusola Oke (SAN); former member of the House of Representatives, Mayowa Continued on page 5
Greatest Naira Comeback Unleashes Prospects for Economic Turnaround Official FX market records $12.66bn turnover in three months Analysts applaud monetary policy reforms, call for supportive fiscal measures James Emejo in Abuja and Nume Ekeghe in Lagos The Central Bank of Nigeria (CBN) appeared to have finally subdued arguably one of the most grueling and the multi-faceted attacks on the Naira in recent times. This is just as data compiled by THISDAY on the daily turnover on the official Nigerian Autonomous Foreign Exchange (NAFEM) between January 18 and April 18, 2024, revealed the market has recorded total turnover of $12.66 billion over three months. The trend in the daily turnover data showed fluctuations in value, with some days recording relatively low turnovers and others recording higher amount. But findings showed that in
February, there was a significant increase in turnover, with some days experiencing exceptionally high turnovers, particularly towards the end of the month. Following a bouquet of reforms launched by the apex bank to sanitise the foreign exchange (FX) market at the inception of President Bola Tinubu’s administration, the local currency had received direct hits from attackers who were mostly currency speculators. The official exchange rate of the Naira to a dollar stood at about N465.07/$ at the time Tinubu took over the helm of affairs in June last year, promising to achieve a unified exchange rate in contrast to the multiple exchange system, Continued on page 5
Alex O: We’re Looking for Better Ways to CELEBRATING AMASEIKUMOR FESTIVAL AT GBARAMATU KINGDOM… Adapt, Break into the Industry Again... Page 22
Ooni of Ife, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi, Ojaja 11 (left) and His Royal Majesty, Oboro Gbaraun 11, Pete of Gbaramatu Kingdom, during the final annual festival of Gbaramatu-Egbesu Ibolomobo-Ere and Amaseikumor 2024 in Delta State…yesterday