FBN Holdings Appoints Olusegun Alebiosu as First Bank of Nigeria's Substantive CEO

FBN Holdings has approved the appointment of Olusegun Alebiosu as substantive Managing Director and Chief Executive Officer of First Bank of Nigeria, the group announced on 19 June 2024. The appointment is subject to the requisite approval of the Central Bank of Nigeria before it takes formal effect.

The board also confirmed the appointment of Ini Ebong, previously Executive Director, Treasury and International Banking, as Deputy Managing Director.

ALEBIOSU APPOINTMENT

Olusegun Alebiosu's elevation to the substantive chief executive position ends what had been an acting or interim leadership arrangement at First Bank of Nigeria.

First Bank of Nigeria is the flagship subsidiary of FBN Holdings.

The appointment announcement was made public on 19 June 2024. The CBN's approval process for senior banking executives typically involves a fit-and-proper assessment and a review of the candidate's qualifications and track record, and the outcome of that review will determine when Alebiosu officially assumes the role on a substantive basis.

INI EBONG NAMED DEPUTY MANAGING DIRECTOR

Alongside the CEO appointment, the board named Ini Ebong as Deputy Managing Director of First Bank of Nigeria.

FBN Holdings disclosed the appointments, which also included Alao Olatunde-Olaifa as a non-executive director of FirstBank, in a notice to the Nigerian Exchange, stating that all of them remain subject to CBN approval.