Meet The Acting MD Of First Bank, Mr Olusegun Alebiosu
After the resignation of Dr Adesola Adeduntan on Friday after nine years as Managing Director, First Bank Nigeria Limited, has appointed Mr Olusegun Alebiosu as the acting Managing Director/Chief Executive Officer, effective April 2024.
The bank stated this in a statement signed by its acting company secretary, Adewale Arogundade.
According to his resignation letter, Adeduntan said he was stepping down effective Saturday, April 20.
He was due to retire in December when his tenure would have been fully completed.
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 First Bank for a record time of nine years.
“During this period the bank and its subsidiaries have 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 with retirement with effect from 20 April 2024, to pursue other interests.
“I am eternally grateful to the board of directors of First Bank and FBN Holdings Plc for the support that I received from them during my stewardship. I wish our iconic institution continued success and progress as we move into the next phase of its evolution. Warm regards.”
The bank in the statement stated that “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.”
The release stated that Alebiosu was until this appointment 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 First Bank 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.”
It added that the new acting MD/CEO commenced his professional career in 1991 with Oceanic Bank Plc (now EcoBank) and before joining FirstBank in 2016 served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at African Development Bank Group and Group Head, Credit Policy & Deputy Chief Credit Risk Officer at United Bank for Africa Plc.
Alebiosu’s academic credentials further enrich his professional profile. He is an alumnus of the Harvard School of Government and holds a Bachelor’s degree in Industrial Relations and Personnel Management.
Additionally, he obtained a Master’s degree in International Law and Diplomacy from the University of Lagos, as well as a Master’s degree in Development Studies from the London School of Economics and Political Science.
A distinguished member of various professional bodies, including the Institute of Chartered Accountants (FCA), Nigeria Institute of Management (ANIM), and Chartered Institute of Bankers of Nigeria (CIBN), Alebiosu is renowned for his commitment to excellence and ethical practices in the banking sector.
