Lagos, July 18, 2025 — A landmark transaction on the Nigerian capital market has brought an end to the prolonged leadership tussle at Nigeria’s oldest financial institution, signaling a new era of stability for the iconic bank.
The resolution followed the acquisition of a significant equity stake by a consortium of domestic investors, who brokered a peace agreement between warring factions of the bank’s board and executive leadership. The deal, which received regulatory backing from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), has been described as a major step in restoring investor confidence and governance integrity within the institution.
Insiders confirmed that the settlement included a comprehensive restructuring of the bank’s board, with several directors stepping down voluntarily to allow for a fresh start under unified leadership. A new managing director and chairman are expected to be announced in the coming days as part of the bank’s renewed corporate strategy.
The leadership crisis, which had lasted several months, had created uncertainty among shareholders and affected the bank’s market performance. However, with this development, analysts project a rebound in investor interest and renewed growth for the institution.
The bank, which traces its roots to the colonial era, has long been regarded as a symbol of Nigeria’s banking heritage. This resolution not only preserves its legacy but also paves the way for a strategic turnaround and revitalization of its operations in line with modern banking standards.
