FBN Holdings Plc has confirmed the appointment of Mr. Olusegun Alebiosu as the new Managing Director/Chief Executive Officer of First Bank of Nigeria Ltd (FirstBank), a key subsidiary of the holdings company.
This announcement was made by Mr. Adewale Arogundade, the Acting Company Secretary of FBN Holdings, in a disclosure to the Nigerian Exchange Ltd. (NGX) on Wednesday in Lagos.
Arogundade stated that Alebiosu’s appointment has been approved by the Bank’s Board of Directors, pending the approval of the Central Bank of Nigeria (CBN).
Alebiosu was appointed as the acting Managing Director/CEO of First Bank on April 21, following the sudden resignation of the former Managing Director/CEO, Dr. Adesola Adeduntan, effective April 20, ahead of his official retirement.
Additionally, Arogundade announced the Board’s approval of Mr. Ini Ebong as the Deputy Managing Director of FirstBank, also pending CBN approval.
Furthermore, the appointment of Mr. Alao Olatunde-Olaifa as a Non-Executive Director of FirstBank has been approved by the Board, subject to CBN’s endorsement.
Before his new appointment, Alebiosu served as the Executive Director, Chief Risk Officer, and Executive Compliance Officer of FirstBank from January 2022 until April 20. Prior to this, he was the Group Executive/Chief Risk Officer since 2016.
Alebiosu brings over 28 years of experience in the banking and financial services industry, with expertise in credit risk management, financial planning, and control.
His experience spans various sectors, including credit and marketing, trade, corporate and commercial banking, agriculture financing, oil and gas, transportation, and project financing.
Alebiosu’s previous roles include Chief Risk Officer at Coronation Merchant Bank Ltd., 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 Plc.
He holds a Bachelor’s degree in Industrial Relations and Personnel Management and a Master’s degree in International Law and Diplomacy from the University of Lagos.
Additionally, he has a Master’s degree in Development Studies from the London School of Economics and Political Science and completed the Advanced Management Program (AMP) at Harvard Business School.
Alebiosu is a member of several professional bodies, including the Institute of Chartered Accountants (FCA), the Nigeria Institute of Management (ANIM), the Chartered Institute of Bankers of Nigeria (CIBN), and the Nigeria Institute of International Affairs.
Mr. Ini Ebong, the newly appointed Deputy Managing Director, has been the Executive Director of Treasury and International Banking at FirstBank since January 2022.
He previously served as the Group Executive of Treasury and International Banking from 2016 to 2022 and was the Bank’s Treasurer from 2011 to 2016.
Ebong brings over 20 years of extensive banking experience, covering trading roles across Treasury products, asset and liability management, Treasury sales and marketing, and Treasury risk management.
Before joining FirstBank, Ebong was the Head of African Fixed Income and Local Markets Trading at Renaissance Securities Nigeria Ltd., a subsidiary of Renaissance Capital, and held various roles at Citigroup for 14 years, including Country Treasurer and Sales and Business Head.
Mr. Alao Olatunde-Olaifa, the newly appointed Non-Executive Director, has a wealth of experience in corporate finance, including capital raising, deal structuring, debt restructuring, acquisition planning, project financing, and asset management.
He currently serves as the Group Chief Financial Officer/Strategy and Principal Investment at Leadway Holdings, overseeing strategy, corporate finance, and principal investment across the group and its geographies.
Olatunde-Olaifa also sits on the Boards of C&I Leasing Plc and Leadway Pensure PFA.
His previous roles include Associate in Investment Banking at Lionstone Group and Assistant Manager in the Corporate Banking division at Fidelity Bank Plc.
