First Bank announces new MD, DMD, Non-executive director

• Olusegun Alebiosu has officially been named First Bank of Nigeria Limited's Chief Executive Officer and Managing Director
• First Bank appointed Alao Olatunde-Olaifa as Non-Executive Director and Ini Ebong as Deputy Managing Director (DMD)
• Since April 2024, Alebiosu has served as the bank's acting managing director after Adesola Adeduntan, the former MD, resigned

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First Bank of Nigeria Limited has officially appointed Olusegun Alebiosu as its Chief Executive Officer (CEO) and Managing Director (MD).

The new appointments are subject to the Central Bank of Nigeria (CBN) clearance. Photo Credit: First Bank
Source: Getty Images

In a note sent on Wednesday, the company's secretary, Adewale Arogundade, updated the Nigerian Exchange Group on recent developments within the bank.

According to the statement, Alebiosu's appointment is subject to the Central Bank of Nigeria (CBN) clearance.

Alebiosu has been the bank's acting managing director since April 2024, following the resignation of the previous MD, Adesola Adeduntan.

More appointments

Additionally, Alao Olatunde-Olaifa was named Non-Executive Director and Ini Ebong was named Deputy Managing Director (DMD) by First Bank. The approval of the apex bank is also a prerequisite for both appointments.

Alebiosu has held a number of positions at the bank, including Executive Director, Group Executive/Chief Risk Officer, Executive Director, and Executive Compliance Officer.

With over 28 years of experience in the banking and financial services sector, the new managing director is well-versed in a variety of cross-functional areas, including trade, corporate and commercial banking, oil and gas, project financing, credit risk management, financial planning and control, credit and marketing, and agriculture financing.

Prior to this, Ebong served as the bank's Executive Director of International Banking and Treasury. He has over 20 years of banking experience, which he adds to FirstBank's Executive Management.

With years of experience in corporate finance, including capital raising, debt restructuring, acquisition planning, project financing, and asset management, Olatunde-Olaifa, Leadway Holdings' current Group Financial Officer, provides a wealth of knowledge to the board.

First Bank announces job vacancy

Legit.ng reported that one of Nigeria's oldest financial institutions, First Bank, has announced it is accepting applications from graduates for its graduate training programme.

Organisations design a graduate training program to recruit and develop recent graduates into their workforce.

The Graduate Trainee Programme is a yearly recruitment exercise, aimed at attracting young, dynamic and talented individuals to meet the growing manpower requirements across the enterprise.

Source: Legit.ng