First Bank of Nigeria has appointed Olusegun Alebiosu as its acting managing director, sources close to the development revealed on Sunday.
News About Nigeria reports that Alebiosu, a seasoned banker with nearly three decades of experience, takes over from Adesola Adeduntan, who unexpectedly stepped down on Saturday.
Alebiosu, who has been the bank’s executive director and chief risk officer since 2022, brings a wealth of expertise to the position.
His extensive background spans credit marketing, trade, corporate and commercial banking, credit risk management, and more.
The appointment comes after a Saturday board meeting failed to resolve the controversy surrounding Adeduntan’s resignation.
With close to 30 years of experience in the banking and financial services industry, Alebiosu is equipped to lead First Bank forward.
His diverse expertise includes credit risk management, financial planning and control, credit and marketing, trade, corporate and commercial banking, agriculture financing, oil and gas, transportation, and project financing, the bank said of him in its website.
Alebiosu’s professional journey began in 1991 with Oceanic Bank Plc. (now EcoBank Plc.). He has also held senior roles at Coronation Merchant Bank Limited, African Development Bank Group, and United Bank for Africa Plc. A Harvard School of Government alumnus, he holds degrees from the University of Lagos and the London School of Economics and Political Science.
The bank added: “He is a member of various professional bodies namely, Fellow, Institute of Chartered Accountants (FCA), Associate, Nigeria Institute of Management (ANIM), Chartered Institute of Bankers of Nigeria (CIBN) and Member, Nigeria Institute of International Affairs.
“Segun is a golfer and an adventurer. He is happily married with children.”
Adeduntan’s sudden departure remains shrouded in mystery.
- In his notice of retirement, he cited a desire to pursue other interests as the reason for his resignation.
