Alebiosu emerges as Firstbank’s acting Chief Executive Officer

AFTER a weekend of tension over the resignation of Dr Adesola Adeduntan, Olusegun Alebiosu has emerged as the Acting Managing Director/ Chief Executive Officer of First Bank of Nigeria Limited ( Firstbank Group). His appointment, which was announced on Sunday night, takes immediate effect.

The emergence followed the resignation of Adeduntan at the weekend, eight months into the end of his tenure. Adeduntan, who held sway at the premier bank for over eight years, told the board he would proceed to pursue “other interests” as he would not be eligible for reappointment by December 31, 2024, when his tenure ends.

Alebiosu was, until this appointment, the Executive Director, Chief Risk Officer and Executive Compliance Officer from January 2022. Before that appointment, he was the Group Executive/ Chief Risk Officer, a position he held since 2016.

Alebiosu brings to the Executive Management of Firstbank over 28 years of 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.

The new CEO Commenced his professional career in 1991 with

Oceanic Bank Plc ( now Ecobank Plc) and before joining Firstbank in 2016 served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at African Development Bank Group ( AFDB) and Group Head, Credit Policy and Deputy Chief Credit Risk Officer at United Bank for Africa Plc.

Alebiosu is an alumnus of Harvard Business School and Harvard School of Government.