Tunde Hassan Odukale, former chairman of the First Bank of Nigeria Limited has stepped down to allow somebody else control the power seat.

Update from the Nigerian Exchange Group of recent development within the bank, the company’s Secretary, Adewale Arogundade, in a notice on Thursday, said Hassan Odukale’s exit followed the completion of the cumulative number of years, that is 12 years for a non-executive director, in line with the Central Bank of Nigeria’s Corporate Governance Guidelines.

“Consequently, the Board of FirstBank has appointed Mr Ebenezer Olufowose, a Non-Executive Director, as the new Chairman of the Board of Directors of First Bank of Nigeria Limited,” the notice partly read.

The Managing Director of Leadway Assurance Company Limited, Hassan Odukale joined the Board of First Bank of Nigeria Limited as a Non-Executive Director in 2011

The appointment of Olufowose into the Board of Directors of First Bank happened on April 29, 201. He was the Managing Director of First Ally Capital Limited before this occurrence.

Continuing, before joining First Bank Board, he was an Executive Director at Access Bank Plc and Citibank Nigeria.

He is expected to bring his over 36 years experience in the financial services industry to consolidate and improve upon the works done by his predecessors.