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

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

Breaking News: First Bank Top Director Shobo Resigns as New CBN Rules Take Effect 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. A maximum of 12 years for Managing Directors

The central bank's updated aim to promote high ethical standards and enhance public confidence by ensuring fresh leadership in systemically important banks. Key highlights of these rules include: A maximum of 12 years for Managing Directors