PREMIUM TIMES reported the appointment of Mr Alebiosu following the surprised resignation of Adesola Adeduntan
FBN Holdings Ltd has officially notified the Nigerian Exchange Limited that it has appointed Olusegun Alebiosu as the Acting Chief Executive Officer of its subsidiary, First Bank of Nigeria of Nigeria Limited.
PREMIUM TIMES reported the appointment of Mr Alebiosu following the surprised resignation of Adesola Adeduntan, who was due to complete his tenure in December.
"As you are aware, my contract would be expiring on 31 December 2024 after which I would no longer be eligible for employment within the Bank having served as the Managing Director/Chief Executive Officer of FirstBank for a record time of nine years," Mr Adeduntan wrote in his resignation letter.
"During this period the Bank and its subsidiaries has undergone significant changes and broken new grounds. We have repositioned the institution as an enviable financial giant in Africa. I have however decided to proceed on retirement with effect from 20 April 2024 to pursue other interests."
The former bank chief will now be replaced by Mr Alebiosu, the former chief risk officer of the bank.
"Alebiosu who as Executive Director / Chief Risk Officer jointly led the transformation of FirstBank over the past 8 years, as an integral member of the team under the previous CEO's leadership is well placed to deliver on the bank's strategic objectives. Alebiosu joined FirstBank in 2016 and has over three decades of banking experience," FBN Holdings wrote in its notification to the Nigerian Exchange on Sunday.
Read the full notification sent by FBN Holdings below.
NOTIFICATION OF APPOINTMENT OF OLUSEGUN ALEBIOSU AS ACTING CEO OF FIRST BANK OF NIGERIA, A SUBSIDIARY OF FBN HOLDINGS PLC
In accordance with Rulebook of The Exchange (Issuers' Rules), we hereby notify Nigerian Exchange Limited and the investing public of the appointment of Mr. Olusegun Alebiosu as the Acting Chief Executive Officer of our flagship subsidiary, First Bank of Nigeria Limited ("FirstBank").
Following the resignation of the Managing Director/CEO of FirstBank, Dr. Adesola Adeduntan, the Board of Directors has appointed Olusegun Alebiosu acting CEO of the 130-year-old institution.
The appointment takes effect immediately and is subject to the approval of the Central Bank of Nigeria.
Alebiosu who as Executive Director / Chief Risk Officer jointly led the transformation of FirstBank over the past 8 years, as an integral member of the team under the previous CEO's leadership is well-placed to deliver on the bank's strategic objectives. Alebiosu joined FirstBank in 2016 and has over three decades of banking experience.
The Board of Directors expressed gratitude to Adeduntan for his exemplary leadership in the last nine years during which he superintended the transformation and growth of the Bank and wish him well in his future endeavors.
Please find below the profile of Mr. Olusegun Alebiosu:
Olusegun Alebiosu was appointed the Executive Director, Chief Risk Officer and Executive Compliance Officer in January 2022. Prior to this appointment, he was the Group Executive/ Chief Risk Officer, a position he held since 2016.
Segun brings to the Executive Management of FirstBank 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.
He commenced his professional career in 1991 with Oceanic Bank Plc. (now EcoBank Plc.) and prior to joining FirstBank in 2016 served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at African Development Bank Group and Group Head, Credit Policy & Deputy Chief Credit Risk Officer at United Bank for Africa Plc.
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Segun is an alumnus of Harvard School of Government and holds a bachelor's degree in Industrial Relations and Personnel Management. He also obtained a master's degree in International Law and Diplomacy from the University of Lagos and holds a master's degree in Development Studies from the London School of Economics and Political Science.
He is a member of various professional bodies namely, Fellow, Institute of Chartered Accountants (FCA), Associate, Nigeria Institute of Management (ANIM), Chartered Institute of Bankers of Nigeria (CIBN) and Member, Nigeria Institute of International Affairs.
Segun is a golfer and an adventurer. He is happily married with children.
For: FBN HOLDINGS PLC
ADEWALE L.O AROGUNDADE
AG. COMPANY SECRETARY
