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“First Bank Names New Managing Director and CEO”

First Bank

First Bank of Nigeria has appointed Olusegun Alebiosu as its acting managing director.

Alebiosu has served as the bank’s executive director and chief risk officer since 2022 and has been with the bank for nearly 30 years. His extensive experience includes credit marketing, trade, corporate and commercial banking, and credit risk management.

He replaces Adesola Adeduntan, who unexpectedly stepped down on Saturday. The bank decided to appoint Alebiosu following a Sunday meeting that failed to resolve the issues surrounding Adeduntan’s resignation.

Alebiosu brings expertise in oil and gas, project financing, agriculture, shipping, and aviation. He holds a Bachelor’s in Industrial Relations and Personnel Management from the University of Lagos (1990) and a Master’s in International Law and Diplomacy from the same institution (1997).

His career began at the defunct Oceanic Bank in 1991. Between 2006 and 2011, he worked at United Bank for Africa as group head of credit policy and product programs. In 2011, he became the chief credit risk officer at the African Development Bank.

At Coronation Merchant Bank Limited, where he worked until 2015, he led the risk management unit. He also holds a Master of Science in Development Studies from the London School of Economics and is an alumnus of Harvard Kennedy School of Governance.

Alebiosu is a chartered accountant with over 20 years of experience and a fellow of the Institute of Chartered Accountants of Nigeria. He is also an associate of the Nigeria Institute of Management and a member of the Chartered Institute of Bankers of Nigeria and the Nigeria Institute of International Affairs.

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