Onasanya Set to Retire as First Bank GMD/CEO

The Group Managing Director/Chief Executive Officer, FirstBank of Nigeria Limited, Mr. Bisi Onasanya, will step down from his position by the end of this year.

A statement from the bank yesterday explained that Onasanya’s successor would be announced in the last quarter of the year, prior to his exit.

His retirement is line with the bank’s succession plan

The statement explained that: “Mr. Onasanya is set to retire at a high point of his career as Group Managing Director/Chief Executive Officer, First Bank of Nigeria Limited, a subsidiary of FBN Holdings Plc and Nigeria’s most valuable banking brand, at the successful completion of his tenure. His retirement takes effect at the end of the current financial year on December 31 2015.

“Onasanya is retiring on the heels of an inspiring and enviable career spanning over three decades of diverse management and operational experience, 21 years of which he has spent with FirstBank, serving meritoriously in the last six years as Group Managing Director/CEO. He has been able to stabilise and modernise the expanding FirstBank brand since his appointment in 2009, thus reinforcing the confidence of the bank’s diverse stakeholders and the global financial public.

“Onasanya’s successor will be announced in the last quarter prior to his exit. This is in sync with FirstBank’s corporate governance practice, which provides for seamless transition for the office of Group Managing Director. As is well known, FirstBank’s corporate governance posture has won it much respect and awards both locally and internationally.”

It described Onasanya as a seasoned banker and chartered accountant, who had established a reputation at FirstBank for solid performance and sound judgment.

“He is widely reputed as the architect of the modern FirstBank, associated with various innovative and creative achievements.”