First Bank of Nigeria Limited, a subsidiary of FBN Holdings, has announced the appointment of Olusegun Alebiosu as the acting chief executive officer.The appointment takes effect immediately and is subject to the approval of the Central Bank of Nigeria.

Adeduntan, his predecessor, submitted a retirement notice to the bank on Saturday, announcing his resignation effective April 20. The true motive behind his abrupt departure remains undisclosed. In his resignation letter to the Chairman of the bank’s board, Tunde Hassan-Odukale, Adeduntan stated.

“As you know, my contract will expire on December 31, 2024, after which I will no longer be eligible for employment at the Bank, having served as the Managing Director/Chief Executive Officer of First Bank for a record nine years.” thereby leaving a gap for the position of the new CEO.

Alebiosu is said to have over 28 years of extensive experience in the banking and financial services industry, Alebiosu assumes the leadership of First Bank, bringing a wealth of expertise spanning various domains. His journey commenced in 1991 with Oceanic Bank Plc. (now EcoBank Plc.), leading to notable positions in esteemed financial institutions.

Before joining FirstBank in 2016, Alebiosu served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at the African Development Bank Group, and Group Head of Credit Policy & Deputy Chief Credit Risk Officer at United Bank for Africa Plc. His roles encompassed credit risk management, financial planning and control, corporate and commercial banking, agriculture financing, oil and gas, transportation, and project financing.

Related News

Alebiosu’s academic pursuits complement his professional acumen. He is an alumnus of the Harvard School of Government and holds a Bachelor’s degree in Industrial Relations and Personnel Management. Additionally, he earned a Master’s degree in International Law and Diplomacy from the University of Lagos, as well as a Master’s degree in Development Studies from the London School of Economics and Political Science.

He is also a distinguished member of professional bodies such as the Institute of Chartered Accountants (FCA), Nigeria Institute of Management (ANIM), and Chartered Institute of Bankers of Nigeria (CIBN), Alebiosu is esteemed for his dedication to excellence and ethical practices in banking.

“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,”

Beyond his professional commitments, Alebiosu is known for his enthusiasm for golf and adventure. He finds joy in his marriage and parenthood, adding balance to his life.