Hamisu Muhammad
5 January 2009
A renowned economist Mr. Sanusi Lamido Sanusi has formally assumed duty as the Managing Director/ Chief Executive of the First Bank Plc on January 1. He succeeded Mr. Jacobs Moyo Ajekigbe who retired from the service on December 31, 2008.
Source at the Bank said Mr Sanusi has already prepared for the tough challenges ahead for the year adding that with his vast experiences in the Nigerian banking industry a lot of innovations that will help the bank to remain on the top position are expected from him soon.
The appointment of Mr Sanusi is in sync with FirstBank's corporate governance practice, said Head, Corporate Planning and Group Coordination, H. O. Bakare.
The former executive director, risk and management control of the bank , Sanusi graduated with a B.Sc in Economics from Ahmadu Bello University (ABU), Zaria in 1981 and was later in the M.Sc class and started his working career in academics, teaching undergraduate Economics (1983-1985) at the Ahmadu Bello University.
He then proceeded to a banking career, first with ICON Limited (Merchant Bankers), where in a period of about seven years he gained wide experience in Issuing House activities, Financial Advisory Services, Pivatisation, Debt-Conversion and Credit and Marketing, before joining UBA.
Analysts expect Sanusi to provide reinvigorated leadership for the Bank and help in taking it to the next level, drawing from the vast experience of Mr. Ajekigbe, an industry icon in his own right.
The appointment of Sanusi as MD/CEO, First Bank makes him the first Northerner to head the 100 year old bank.
Born in 1961, Sanusi , a grandson of the 11th Fulani Emir of Kano , Muhammadu Sanusi,
FirstBank was the winner of the Emerging Markets Banking Achievement Award for Africa at the World Bank/IMF 2007 meetings, Washington DC, USA; winner of "Best Bank in Nigeria", "Best Trade Finance Bank in Nigeria", and "Best Foreign Exchange Bank in Nigeria" for four (4) consecutive years - 2004, 2005, 2006 and 2007 - awarded by the US-based Global Finance magazine, to mention a few of the awards won by the Bank recently.
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