First Bank appoints Alebiosu as MD, Ebong as DMD

Olusegun Alebiosu has been officially appointed as First Bank of Nigeria Limited's Managing Director (MD) and Chief Executive Officer (CEO). 

Alebiosu's nomination is contingent upon Central Bank of Nigeria (CBN) clearance, as stated in a note sent on Wednesday by the company's secretary, Adewale Arogundade, updating the Nigerian Exchange Group on recent developments within the bank. 

Alebiosu has been the bank's acting managing director since April 2024, following the resignation of the previous MD, Adesola Adeduntan. Additionally, Alao Olatunde-Olaifa was named Non-Executive Director and Ini Ebong was named Deputy Managing Director (DMD) by First Bank. The approval of the apex bank is also a prerequisite for both appointments.

Alebiosu has held a number of positions at the bank, including Executive Director, Group Executive/Chief Risk Officer, Executive Director, and Executive Compliance Officer. 

With over 28 years of experience in the banking and financial services sector, the new managing director is well-versed in a variety of cross-functional areas, including trade, corporate and commercial banking, oil and gas, project financing, credit risk management, financial planning and control, credit and marketing, and agriculture financing. 

Prior to this, Ebong served as the bank's Executive Director of International Banking and Treasury. He has over 20 years of banking experience, which he adds to FirstBank's Executive Management.

The current Group Financial Officer of Leadway Holdings, Olatunde-Olaifa, offers years of experience in corporate finance, including project financing, asset management, debt restructuring, capital raising, and acquisition planning, to the board.

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