FBN Holdings woes were compounded as the release of its first quarter earnings report showed a 39 per cent profit drop. FBN Holdings PLC, the parent company of Nigeria’s oldest lender First Bank of Nigeria Limited, saw its share price fall by 6.76 per cent at Thursday’s trading session in Lagos, the sharpest plunge since December 10, as the bank faced a stringent regulatory action by the Central Bank of Nigeria. The 125-year old bank rankled industry watchdog CBN on Wednesday, when the Ibukun Awosika-led board announced the appointment of…
Read MoreFirst Bank Shares In Biggest Fall Amidst Board Shake-up, Profit Drop
