In a recent development at First Bank of Nigeria Limited, the Board of Directors has made significant changes in the leadership structure of the 130-year-old institution. Following the resignation of Dr. Adesola Adeduntan as the Managing Director / Chief Executive Officer, the Board has swiftly appointed Olusegun Alebiosu as the acting CEO, effective immediately.
Alebiosu, who previously served as the Executive Director / Chief Risk Officer, played a key role in the transformation of FirstBank over the past eight years. With over three decades of banking experience, Alebiosu is expected to continue driving the bank towards its strategic objectives, having been an integral part of the leadership team under the previous CEO.
The Board of Directors conveyed their appreciation to Adeduntan for his outstanding leadership during his nine-year tenure. They acknowledged his contribution to the significant growth and transformation of the bank under his stewardship, wishing him success in his future endeavors.
The appointment of Alebiosu as the acting CEO is subject to the approval of the Central Bank of Nigeria, indicating a procedural step in the transition of leadership at FirstBank.
Signed,
The Board
