FirstBank Holdings Announces Olusegun Alebiosu Acting Chief Executive of FBN

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James Emejo in Abuja

The Board of FBN Holdings Plc, yesterday, announced the appointment of Mr. Olusegun Alebiosu as acting Chief Executive, First Bank of Nigeria Limited (FirstBank), its flagship subsidiary.

The appointment came on the heels of the recent resignation of the bank’s Managing Director/Chief Executive, Dr. Adesola Adeduntan.

In a statement to the Nigerian Stock Exchange, the holdings’ acting Company Secretary, Adewale Arogundade, said the board of directors had appointed Alebiosu to lead the 130-year-old institution.

However, the appointment, which takes immediate effect, is subject to the approval of the Central Bank of Nigeria (CBN).

The statement added that the announcement was in accordance with the Rulebook of The Exchange (Issuers’ Rules), which required that the Nigerian Exchange Limited and the investing public be duly notified of such development.

Alebiosu was an Executive Director/Chief Risk Officer who jointly led the transformation of FirstBank over the past eight years, and remained an integral member of the team under the previous CEO’s leadership.

He is well positioned to deliver on the bank’s strategic objectives. 

He joined FirstBank in 2016 and has over three decades of banking experience.

“The Board of Directors expressed gratitude to Adeduntan for his exemplary leadership in the last nine years during which he superintended the transformation and growth of the bank and wish him well in his future endeavours,” the statement added.

The new acting First Bank CEO 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, oll and gas, transportation (including aviation and shipping) and project financing.

He commenced his professional career in 1991 with Oceanic Bank Plc. (now EcoBank Plc.).

Prior to joining FirstBank in 2016, he served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at African Development Bank Group, and Group Head, Credit Policy and 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. 

Alebiosu 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.

He is a golfer and an adventurer who is happily married with children.

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