First Bank of Nigeria Limited has announced the appointment of Olusegun Alebiosu as its acting Managing Director with effect from 1 April 2024. This follows the recent resignation of Dr. Adesola Adeduntan, after a nine-year tenure, during which he supervised the bank’s operations and strategic direction for three terms.
The bank made the announcement in a statement signed by its acting company secretary, Adewale Arogundade on Sunday.
Part of the statement reads, “Following the resignation of the Managing Director/CEO of FirstBank, Dr. Adesola Adeduntan, the Board of Directors has appointed Olusegun Alebiosu as the acting CEO of the 130-year-old institution. The appointment takes effect immediately and is subject to the approval of the Central Bank of Nigeria.”
Prior to his new appointment, Alebiosu was the Executive Director, Chief Risk Officer and Executive Compliance officer since January 2022. Before that, he was the Group Executive/ Chief Risk Officer, a position he held since 2016.
Alebiosu brings to the Executive Management of FirstBank over 28 years of experience in the banking and financial services industry with cross-functional exposure to 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.
He started his professional career in 1991 with Oceanic Bank Plc (now EcoBank) and prior to joining FirstBank in 2016 served as Chief Risk Officer at Coronation Merchant Bank Limited.
He also served as the Chief Credit Risk Officer at African Development Bank Group Group Head of Credit Policy & Deputy Chief Credit Risk Officer at United Bank for Africa Plc.
Alebiosu 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,” the statement added.
He is an alumnus of Harvard School of Government and holds a Bachelor’s degree in Industrial Relations and Personnel Management. He also obtained a Master’s degree in International Law and Diplomacy from the University of Lagos and holds a Master’s degree in Development Studies from the London School of Economics and Political Science.