First Bank of Nigeria Limited (FirstBank Group) has named Olusegun Alebiosu as its interim managing director starting from April 2024, succeeding Dr. Adesola Adeduntan, who resigned from the position of Managing Director/CEO.
The bank announced Alebiosu’s appointment through a notification to the Nigerian Exchange Limited and the public, in accordance with the Issuers’ Rules of The Exchange.
A statement signed by the acting company secretary, Adewale Arogundade, announced that after Dr. Adesola Adeduntan stepped down as the Managing Director/CEO of FirstBank, the Board of Directors appointed Olusegun Alebiosu as the interim CEO of the institution, which has been operating for 130 years.
“The appointment takes effect immediately and is subject to the approval of the Central Bank of Nigeria.”
“Alebiosu, until his new appointment, was the executive director, chief risk officer and executive compliance officer since January 2022. Prior to that, he was the Group executive/chief risk officer, a position he held since 2016.
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“Alebiosu brings to the executive management of FirstBank over 28 years’ experience in the banking and financial services industry with cross-functional exposure to Credit risk management, Financial planning and control, Credit and marketing, Trade, Corporate and commercial banking, Agriculture financing, Oil and Gas, Transportation (including Aviation and Shipping) and Project financing.”
It added that the new acting MD/CEO commenced his professional career in 1991 with Oceanic Bank Plc (now EcoBank) and prior to joining FirstBank in 2016, served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at African Development Bank Group and Group Head, Credit Policy & Deputy Chief Credit Risk Officer at United Bank for Africa Plc.
“He is an alumnus of Harvard School of Government and holds a Bachelor’s degree in Industrial Relations and Personnel Management. He also obtained a Master’s degree in International Law and Diplomacy from the University of Lagos and holds a Master’s degree in Development Studies from the London School of Economics and Political Science.
“He is a member of various professional bodies namely; Fellow, Institute of Chartered Accountants (FCA), Associate, Nigeria Institute of Management (ANIM), Chartered Institute of Bankers of Nigeria (CIBN) and Member, Nigeria Institute of International Affairs”, the notice added.
