First Bank of Nigeria Limited has made significant leadership changes with the appointment of Olusegun Alebiosu as the new Managing Director and Chief Executive Officer. This decision, announced via a statement to the Nigerian Exchange Limited, underscores the bank’s commitment to strategic leadership amidst a period of transition.
Alebiosu, who has been serving as acting MD since April 2024, steps into the role following the resignation of former CEO Adesola Adeduntan. His appointment, pending approval from the Central Bank of Nigeria (CBN), marks a pivotal moment in First Bank’s corporate governance.
In addition to Alebiosu’s appointment, the board has also approved Mr. Ini Ebong as Deputy Managing Director and Mr. Omotunde Alao-Olaifa as Non-Executive Director, subject to CBN approval. Ebong brings extensive banking experience, having previously led First Bank’s Treasury and International Banking division for over 20 years.
The appointment of Alebiosu and his team aligns with First Bank’s strategic vision under FBN Holdings’ revamped leadership structure. Billionaire Femi Otedola’s chairmanship at FBN Holdings earlier in 2024 signaled a period of significant corporate governance changes within the group.
“This announcement solidifies Alebiosu’s position and sets the stage for a new chapter at First Bank,” commented the acting Secretary of FBN Holdings. The bank continues to uphold its commitment to excellence and innovation in banking services across Nigeria.
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