First Bank Gets New CEO/MD

First Bank of Nigeria Limited has confirmed Olusegun Alebiosu as the substantive Managing Director.

The bank also named Ini Ebong as the Deputy Managing Director.

In a Notification of appointments sent to the Nigerian Exchange Group (NGX) late on Wednesday by the company’s Secretary, Adewale Arogundade, First Bank also announced the appointment of Mr. Alao Olatunde-Olaifa as Non-Executive Director

The appointments are however subject to the approval of the Central Bank of Nigeria (CBN).

Alebiosu was appointed as the bank’s acting Managing Director following the resignation of Adesola Adeduntan in April.

He previously served as the bank’s Executive Director, Chief Risk Officer, Executive Compliance Officer and Group Executive/ Chief Risk Officer, among others.

The new managing director has over 28 years’ 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.

Ebong was previously the bank’s Executive Director of Treasury and International Banking.

He brings to the Executive Management of First Bank over 20 years banking experience.

Olatunde-Olaifa, the current Group Financial Officer of Leadway Holdings, brings to the Board years of experience cutting across corporate finance, including capital raising, debt restructuring, acquisition planning, project financing and asset management.