First Bank appoints Alebiosu Acting CEO

First Bank of Nigeria Limited has appointed Olusegun Alebiosu as its acting Managing Director with effect from this month.

This appointment is however subject to the approval of the Central Bank of Nigeria, (CBN).

Alebiosu’s appointment followed the resignation of Dr Adesola Adeduntan as the bank’s MD/Chief Executive Officer last Saturday.

The bank announced the appointment in a statement signed by its acting company secretary, Adewale Arogundade, on Sunday.

The statement read: “Following the resignation of the managing director/CEO of FirstBank, Dr. Adesola Adeduntan, the Board of Directors has appointed Olusegun Alebiosu as the 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.”

Until his appointment, Alebiosu was the executive director, chief risk officer and executive compliance officer.

He also served as the Group executive/ chief risk officer, a position he held since 2016.

“Alebiosu 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,” the statement added.