First Bank is facing significant upheaval as Femi Otedola, chairman of the bank's holding company, has reportedly asked Folake Ani-Mumuney to resign from her position as global head of marketing and corporate communications.

 Sources indicate that Otedola was "seriously irked" after discovering the extravagant expenditures on a farewell party for Adesola Adeduntan, the former Managing Director who recently resigned amid allegations of negligence related to a N60 billion electronic fraud.

Insiders reveal that the lavish send-off party was seen as inappropriate given the circumstances surrounding Adeduntan's departure, which has drawn scrutiny and criticism within the organization. Otedola's reaction underscores a growing concern about fiscal responsibility and leadership accountability at the bank.