FirstBank Nigeria Limited has announced the appointment of Ebenezer Olufowose as its new chairman, succeeding Tunde Hassan-Odukale.
News About Nigeria reports that the change in leadership was disclosed through a corporate filing on Thursday, following the completion of Hassan-Odukale’s 12-year tenure as a non-executive director.
The procedure is in accordance with the Central Bank of Nigeria’s Corporate Governance Guidelines.
Olufowose, who currently serves as the Group Managing Director of First Ally Capital Limited, was appointed to the board of FirstBank on April 29, 2021.
His extensive experience in the financial services industry spans over 36 years, with expertise in corporate finance, project finance, and investment banking.
Prior to joining FirstBank, Olufowose held executive roles at Access Bank and Citibank Nigeria.
The new chairman boasts an impressive academic background, holding a first-class honours degree in economics from the University of Lagos and a Master’s degree in international economics from the University of Sussex, England.
He has also attended prestigious institutions such as Harvard Business School and Lagos Business School.
Olufowose is a distinguished fellow of various professional organisations, including the Chartered Institute of Bankers of Nigeria, the Institute of Credit Administration, and the Association of Investment Advisers and Portfolio Managers.
This leadership transition comes on the heels of Dr. Adesola Adeduntan’s resignation as Managing Director of FirstBank after nine years at the helm.
The bank has since appointed Olusegun Alebiosu as its acting managing director and chief executive officer.
Alebiosu has previously served as Executive Director, Chief Risk Officer, and Executive Compliance Officer since January 2022.
The bank was founded in 1894 and has over 232,000 locations across Nigeria, as of 2024.
