Alebiosu Becomes MD Of First Bank

Alebiosu Becomes MD Of First Bank
Alebiosu Becomes MD Of First Bank

In a pivotal move shaping the future trajectory of First Bank of Nigeria Limited, Olusegun Alebiosu has been confirmed as the new Managing Director (MD) and Chief Executive Officer (CEO). This strategic appointment is poised to drive the bank forward, aligning with its vision for growth and excellence in the banking sector. The announcement was made public through a notice by the company’s Secretary, Adewale Arogundade, to the Nigerian Exchange Group, highlighting the bank’s commitment to transparency and regulatory compliance.

Alebiosu’s appointment as the bank’s substantive MD and CEO awaits the final nod from the Central Bank of Nigeria (CBN), marking a crucial step in cementing his leadership role. Stepping into the MD’s shoes in April 2024 as an acting capacity following Adesola Adeduntan’s resignation, Alebiosu is no stranger to the bank’s operations and strategic direction.

With a robust appointment of Ini Ebong as the Deputy Managing Director (DMD) and Alao Olatunde-Olaifa joining as a Non-Executive Director, First Bank reinforces its executive cadre with seasoned professionals. These pivotal roles, underpinning the bank’s operational and strategic frameworks, also await CBN’s approval.

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Alebiosu’s journey within First Bank has been marked by his roles as Executive Director, Chief Risk Officer, and Executive Compliance Officer, amongst others, showcasing his multifaceted expertise across the banking and financial services sector. With over 28 years of experience, Alebiosu has honed his skills in areas including credit risk management, financial planning, and corporate banking — expertise that positions him to steer First Bank towards new heights of success.

Complementing the leadership team, Ini Ebong, the bank’s newly appointed DMD, brings over two decades of banking expertise, notably in Treasury and International Banking. Alao Olatunde-Olaifa, stepping into the role of Non-Executive Director, carries a wealth of experience from Leadway Holdings, enhancing the board’s depth in corporate finance, project financing, and asset management.

This leadership transition at First Bank of Nigeria Limited signifies a new chapter in the bank’s history, promising a blend of continuity and innovative guidance tailored to navigate the complexities of the modern banking landscape.


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