First Bank Appoints Olusegun Alebiosu as Acting Managing Director

In a significant leadership transition, First Bank of Nigeria Limited has announced the appointment of Olusegun Alebiosu as its acting Managing Director, effective April 2024. This development comes in the wake of the resignation of Dr. Adesola Adeduntan, the former Managing Director, who served the institution for nine years, overseeing its operations and strategic direction across three terms.

The appointment of Alebiosu was disclosed in a statement released by the bank’s acting company secretary, Adewale Arogundade, and made available to PUNCH Online on Sunday.

With over 28 years of experience in the banking and financial services sector, Alebiosu brings a wealth of expertise to his new role. He previously served as the Executive Director, Chief Risk Officer, and Executive Compliance Officer since January 2022. Before joining First Bank, Alebiosu held various leadership positions, including Chief Risk Officer at Coronation Merchant Bank Limited and Chief Credit Risk Officer at the African Development Bank Group.

Alebiosu’s diverse professional background encompasses areas such as credit risk management, financial planning and control, corporate and commercial banking, project financing, and more. He is an alumnus of prestigious institutions such as Harvard School of Government, the University of Lagos, and the London School of Economics and Political Science.

In addition to his academic achievements, Alebiosu is a member of several professional bodies, including the Institute of Chartered Accountants, the Nigeria Institute of Management, and the Chartered Institute of Bankers of Nigeria, among others.

The appointment of Alebiosu as the acting Managing Director underscores First Bank’s commitment to maintaining strong leadership amidst evolving market dynamics. As the institution navigates through competitive landscapes in the financial sector, Alebiosu is expected to spearhead strategic initiatives and drive the bank’s expansion agenda.

The statement further highlighted that Alebiosu’s appointment is subject to the approval of the Central Bank of Nigeria, emphasizing adherence to regulatory requirements in executive appointments within the banking industry.

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