First Bank of Nigeria Limited has announced the appointment of Olusegun Alebiosu as its acting Managing Director, effective April 2024. The announcement was made in a statement signed by the acting company secretary, Adewale Arogundade, and released on Sunday.
Dr. Adesola Adeduntan, the former managing director, resigned after serving a nine-year tenure during which he oversaw the bank’s operations and strategic direction for three terms.
The bank is set to reveal Adeduntan’s successor, who will lead the bank’s expansion initiatives in the face of intense competition in the financial sector.
According to the statement, Alebiosu, who has been appointed as the acting CEO, was previously the executive director, chief risk officer, and executive compliance officer since January 2022. Before that, he served as the Group executive/chief risk officer since 2016.
Alebiosu brings over 28 years of experience in the banking and financial services industry to his new role.
His expertise includes 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 began his professional career in 1991 at Oceanic Bank Plc (now EcoBank) and has held various senior positions, including Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at African Development Bank Group, and Group Head of Credit Policy & Deputy Chief Credit Risk Officer at United Bank for Africa Plc.
Alebiosu holds a Bachelor’s degree in Industrial Relations and Personnel Management, a Master’s degree in International Law and Diplomacy from the University of Lagos, and a Master’s degree in Development Studies from the London School of Economics and Political Science.
He is also a member of several professional bodies, including the Institute of Chartered Accountants (FCA), Nigeria Institute of Management (ANIM), Chartered Institute of Bankers of Nigeria (CIBN), and Nigeria Institute of International Affairs.
