First Bank announces appointment of managing director, others

First Bank of Nigeria Limited, the commercial banking division of the financial services group, has announced the appointments of Olusegun Alebiosu, Ini Ebong and Omotunde Alao-Olaifa as managing director/CEO, deputy managing director and non-executive director, respectively.

The appointments followed the approval of the board and the Central Bank of Nigeria, FBN Holdings said in a regulatory filing.

Mr Alebiosu has been functioning in an acting capacity since 21 April after Adesola Adeduntan resigned from the top management role.

Olusegun Alebiosu

Mr Alebiosu holds a Bachelor’s degree in Industrial Relations & Personnel Management and a Master’s degree in International Law and Diplomacy from the University of Lagos.

He also holds a master’s in Development Studies from the London School of Economics and Political Science.

An alumnus of Harvard Business School and Harvard School of Government, he began his professional career 1991 at the defunct Oceanic Bank.

He served as the group head of credit policy and product programmes at the United Bank for Africa between 2006 and 2011, after which he took the role of chief credit risk at the African Development Bank.

Mr Alebiosu previously headed the risk management unit of Coronation Merchant Bank until 2015. He became the group executive/chief risk officer of First Bank in 2016 before being promoted to the position of executive director, chief risk officer and executive compliance officer, which he held between January 2022 and April 2024.

Ini Ebong

Mr Ebong holds a Bachelor’s and a Master of Science degrees in Architecture from the University of Ife (now Obafemi Awolowo University).

He worked at Citigroup for 14 years as country treasurer and sales & business head.

His 20-year banking experience encompasses expertise in asset & liability management, treasury products, treasury sales & marketing and treasury risk management.

Mr Ebing was the head of African Fixed Income and Local Markets Training at Renaissance Securities Nigeria Limited, the Nigeria-registered subsidiary of Renaissance Capital, before joining First Bank.

He served as First Bank’s treasurer between 2011 and 2016, later becoming the group executive of treasury and international banking before his new appointment.

Omotunde Alao-Olaifa

Mr Alao-Olaifa currently holds the position of group chief financial officer at Leadway Insurance at Leadway Holdings with responsibilities including corporate finance, strategy and principal investment across the group. He is a board member of Leadway Pensure PFA and C&I Leasing.

His broad experience spans capital raising, acquisition planning, project financing, debt restructuring, asset management and deal structuring.

He was formerly an assistant manager in the corporate banking division of Fidelity Bank and also an associate, investment banking at Lionstone Group.

Mr Alao-Olaifa is an alumnus of the University of Ibadan, where he holds a bachelor’s degree in Political Science and LPan Atlantic University, where he holds a master’s in Pan Atlantic University, and strategy).

He has attended senior executive programmes at Harvard Business School and London Business School.