The Managing Director of First Bank Nigeria Limited, Dr. Adesola Kazeem Adeduntan, has resigned from the bank after leading the institution for three terms.

In a letter seen on Friday, which was addressed to the Chairman of First Bank, Mr. Tunde Hassan-Odukale, titled, ‘Notice of Retirement,’ the bank CEO whose tenure ought to elapse on December 31, 2024, voluntarily decided to step down. He would commence his pre-retirement leave from Saturday, Arise News reports.

Adeduntan, who was appointed CEO of the bank on January 1, 2016, also stated in his resignation letter that he was leaving to pursue other interests.

The letter read: “As you are aware, my contract would be expiring on 31 December, 2024, after which I would no longer be eligible for employment within the bank, having served as the Managing Director/Chief Executive Officer of FirstBank for a record time of nine years.

Related News

“During this period the bank and its subsidiaries has undergone significant changes and broken new grounds. We have repositioned the institution as an enviable financial giant in Africa. I have however decided to proceed on retirement with effect from 20 April, 2024, to pursue other interests.

“I am eternally grateful to the board of directors of FirstBank and FBN Holdings Plc for the support that I received from them during my stewardship. I wish our iconic institution continue success and progress as we move into the next phase of its evolution. Warm regards.”

The bank chief who was retired in 2021, by the then board of the financial institution, was reinstated a few days later by the Central Bank of Nigeria.