First Bank of Nigeria Limited has confirmed the appointment of Olusegun Alebiosu as its substantive Managing Director (MD) and Chief Executive Officer (CEO).
The announcement was made through a notice by the company’s Secretary, Adewale Arogundade, to the Nigerian Exchange Group on Wednesday. Alebiosu’s appointment is pending approval from the Central Bank of Nigeria (CBN).
Prior to this new role, Alebiosu had been serving as the acting Managing Director since April 2024, following the resignation of the former MD, Adesola Adeduntan. Alebiosu has a robust background with over 28 years of experience in the banking and financial services industry.
His expertise spans across credit risk management, financial planning and control, credit and marketing, trade, corporate and commercial banking, agriculture financing, oil and gas, transportation (including aviation and shipping), and project financing.
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Additionally, First Bank has appointed Ini Ebong as the Deputy Managing Director (DMD) and Alao Olatunde-Olaifa as Non-Executive Director, with both appointments also subject to CBN’s approval. Ebong, who was the bank’s Executive Director of Treasury and International Banking, brings over 20 years of banking experience to the Executive Management of First Bank.
Olatunde-Olaifa, currently the Group Financial Officer of Leadway Holdings, joins the Board with extensive experience in corporate finance, including capital raising, debt restructuring, acquisition planning, project financing, and asset management.
These appointments come amidst significant changes within the bank’s leadership, including the recent resignation of Hassan-Odukale as First Bank’s Chairman and the subsequent appointment of Olufowose.
