First Bank of Nigeria Limited has officially confirmed Olusegun Alebiosu as its new Managing Director (MD) and Chief Executive Officer (CEO). This announcement was made by the bank’s Secretary, Adewale Arogundade, in a notice to the Nigerian Exchange Group on Wednesday. The appointment is pending approval from the Central Bank of Nigeria (CBN).

Alebiosu has been serving as the acting Managing Director since April 2024, following the resignation of the former MD, Adesola Adeduntan. Additionally, Ini Ebong has been named Deputy Managing Director (DMD), and Alao Olatunde-Olaifa has been appointed as a Non-Executive Director, with both appointments also awaiting CBN approval.

Alebiosu has a distinguished career spanning over 28 years in the banking and financial services industry. His expertise includes credit risk management, financial planning, trade, corporate banking, and project financing. He has held several key positions within First Bank, including Executive Director and Chief Risk Officer.

Ini Ebong, the new Deputy Managing Director, previously served as the bank’s Executive Director of Treasury and International Banking. He brings over 20 years of banking experience to his new role. Alao Olatunde-Olaifa, currently the Group Financial Officer at Leadway Holdings, joins the board with extensive experience in corporate finance, capital raising, and asset management.