Bank's Top Director, Shobo, Resigns As Cbn New Rule Kicks Off, More To Go - Legitvibes - Breaking News: First

A maximum of 12 years for Managing Directors (MDs), up from the previous 10-year limit in some cases.

Gbenga Shobo, who most recently served as the , has been a key figure on the FirstBank board since 2012. His career at Nigeria's oldest lender spanned over a decade, during which he oversaw critical divisions including Retail Banking and Public Sector businesses. A maximum of 12 years for Managing Directors

Executive Directors who eventually become MDs are restricted to a total cumulative tenure of 24 years at the same institution. Executive Directors who eventually become MDs are restricted

Non-Executive Directors (NEDs) are limited to 12 years, while Independent Non-Executive Directors (INEDs) cannot exceed 8 years. More Resignations Expected CBN's 2023 Corporate Governance Guidelines - PwC who most recently served as the

Breaking News: First Bank Top Director Shobo Resigns as New CBN Rules Take Effect