Adesola Adeduntan
First Bank Appoints Olusegun Alebiosu As Acting CEO After Adeduntan’s Resignation
First Bank of Nigeria Limited has taken a significant step in its leadership structure by appointing Mr. Olusegun Alebiosu as the Acting Chief Executive Officer, effective immediately.
This move follows the resignation of Dr. Adesola Adeduntan, who has been serving as the bank’s Managing Director/CEO.
The announcement of Mr. Alebiosu’s appointment was formalized through a notification to the Nigerian Exchange Limited and the investing public, adhering to the Issuers’ Rules of The Exchange. This decision reflects a strategic shift in leadership within the renowned financial institution.
Mr. Alebiosu brings a wealth of experience to his new role, having served as the Executive Director and Chief Risk Officer at FirstBank. His tenure, which began in 2016, has been marked by his instrumental role in driving the bank’s transformation strategies over the past eight years.
With over three decades of extensive banking experience, Mr. Alebiosu boasts a strong background in risk management, compliance, and corporate banking. Prior to joining FirstBank, he held significant positions such as Chief Risk Officer at Coronation Merchant Bank Limited and Chief Credit Risk Officer at the African Development Bank Group.
His career trajectory includes key roles at United Bank for Africa Plc and Oceanic Bank Plc (now Ecobank Plc), where he commenced his banking journey in 1991. The board’s decision to appoint Mr. Alebiosu underscores his deep involvement and proven track record within FirstBank under the leadership of previous CEOs.
In expressing its appreciation, FirstBank acknowledged Dr. Adeduntan’s leadership and contributions during his nine-year tenure, particularly highlighting his role in overseeing the bank’s growth and transformation.
As Mr. Alebiosu assumes his new responsibilities, his appointment is pending approval from the Central Bank of Nigeria, marking a pivotal moment for the 130-year-old financial institution. This transition signals a new chapter as First Bank continues to adapt and thrive in the dynamic and evolving banking landscape.
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