First Bank confirms Olusegun Alebiosu’s appointment as MD


Olusegun Alebiosu, MD/CEO of FirstBank

FBN Holdings PLC has confirmed the appointment of Olusegun Alebiosu as substantive Managing Director/Chief Executive Officer of First Bank of Nigeria Limited, one of its flagship subsidiaries.

The Acting Company Secretary of FBN Holdings, Adewale Arogundade, announced this in a statement sent to the Nigerian Exchange Limited (NGX) on Wednesday, June 19, 2024.

Arogundade said the approval of the substantive appointment of Alebiosu by the First Bank’s Board of Directors was subject to the approval of the Central Bank of Nigeria (CBN).

The FBN Holdings Board, on April 21, appointed Alebiosu as the acting Managing Director/CEO of First Bank.

His appointment followed the sudden resignation of the former Managing Director/CEO of the bank, Dr Adesola Adeduntan, effective April 20, ahead of his official retirement.

Arogundade added that the bank’s Board also approved the appointment of Ini Ebong as the Deputy Managing Director of First Bank, subject to the approval of the CBN.

The company secretary stated that First Bank further approved the appointment of Alao Olatunde-Olaifa as the Non-Executive Director of First Bank, subject to the approval of the CBN.

Before his appointment, Alebiosu was previously Executive Director of Chief Risk Officer and Executive Compliance Officer of the bank, from January 2022 until April 20.

He was, before then, the Group Executive/Chief Risk Officer of the bank since 2016.

Alebiosu brings to the executive management of First Bank over 28 years’ experience in the banking and financial services industry with cross-functional exposure to credit risk management, financial planning and control.

He also has experience in credit and marketing, trade, corporate and commercial banking, agriculture financing, oil and gas, transportation, including Aviation and Shipping and Project financing.

Prior to joining First Bank in 2016, Alebiosu served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at African Development Bank Group, and Group Head of Credit Policy, and Deputy Chief Credit Risk Officer at United Bank For Africa (UBA).

Alebiosu is an alumnus of Harvard Business School and Harvard School of Government.

He holds a Bachelor’s degree in Industrial Relations and personnel management and also a Master’s degree in International Law and Diplomacy from the University of Lagos (UNILAG).

Alebiosu obtained a Master’s degree in Development Studies from the London School of Economics and Political Science, and completed Advanced Management Program (AMP) at Harvard Business School.

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