JUST IN: First Bank Appoints New MD/CEO

First Bank of Nigeria has appointed Olusegun Alebiosu as its new Acting Managing Director (MD) and Chief Executive Officer (CEO). This announcement comes after the abrupt resignation of Adesola Adeduntan, who was originally set to complete his tenure in December.

Sources with knowledge of the situation revealed on Sunday that Mr. Alebiosu, who has served as the bank’s Executive Director and Chief Risk Officer since 2022, will now take on the responsibilities of leading the bank through this transition. Having spent nearly 30 years with First Bank, he brings a wealth of experience in credit marketing, trade, corporate and commercial banking, and credit risk management.

The sudden departure of Mr. Adeduntan has left many questions unanswered, as he was expected to serve out the rest of his term. The decision to appoint Mr. Alebiosu was finalized on Sunday after the bank’s board convened to address the situation following Mr. Adeduntan’s unexpected resignation on Saturday. However, details of the reasons behind his abrupt exit remain unclear.

More to follow ……..