Two directors, Mr. Olutola Mobolurin and Mr. Olusegun Odubogun have resigned from the Board of First City Monument Bank (FCMB) Group Plc.
The affected directors who were present at the company’s virtual Annual General Meeting (AGM) held in April following the outbreak of the COVID-19 pandemic, issued to the group, a month notice of disengagement, which expires on Friday, July 31, 2020.
In a corporate disclosure posted on the Nigerian Stock Exchange (NSE) and duly signed by the Company’s Secretary, the FCMB Griup Plc confirmed the resignation and noted: “The Board also accepted the resignations of Mr. Olutola Mobolurin and Mr. Olusegun Odubogun from the Board of the Company effective 31 July, 2020.”
Emphasizing the notice period, it noted that “Both directors however remain as directors on the Board of the Group’s subsidiary First City Monument Bank Limited.”
Both directors had been present at the company’s virtual AGM held in April following the outbreak of the COVID-19 pandemic.
Just a few weeks ago, the company had notified the Nigerian Stock Exchange that its pensions arm, FCMB Pensions Limited has entered into an agreement to acquire 96% of Aiico Pensions Limited.
The acquisition was said to be part of its strategy to grow the Group’s investment management portfolio and build on the inherent synergies between its pension arm and its retail banking operations.