First Bank of Nigeria Holding Plc (FBN Holdings), the parent company of First Bank of Nigeria Limited, has announced the appointment of Olusegun Alebiosu as the new substantive managing director (MD) and chief executive officer (CEO) of the bank. FBN Holdings shared this announcement in a Wednesday statement filed on the Nigerian Exchange Limited (NGX). Alebiosu’s appointment is subject to approval from the Central Bank of Nigeria (CBN).
Alebiosu has been serving as the acting managing director of First Bank since April 22. His appointment followed the resignation of Adesola Adeduntan, who still had eight months before his contract ended. This change marks a significant moment for FBN Holdings as they look forward to Alebiosu’s leadership.
Olusegun Alebiosu’s Background and Experience
Olusegun Alebiosu has a rich history with First Bank and the banking sector. His deep understanding of the bank’s operations and the broader financial market has made him suitable for this role. Alebiosu’s leadership as acting managing director has already showcased his capability to steer the bank toward success.
Before stepping into the role of MD, Alebiosu held several critical positions within the bank. His extensive experience includes roles that have honed his management and strategic planning skills. His journey with First Bank has been marked by significant contributions to the bank’s growth and stability.
FBN Holdings Appoints Ini Ebong as Deputy Managing Director
In addition to Alebiosu’s appointment, FBN Holdings has also announced the appointment of Ini Ebong as the Deputy Managing Director (DMD). Ebong was previously the bank’s Executive Director in charge of treasury and international banking from January 2022. His new role as DMD reflects his exceptional performance and dedication to the bank.
Ebong is passionate about market development and has actively worked to drive change and internationalization of the Nigerian financial markets. His efforts in foreign exchange, fixed income, and securities have significantly impacted the financial sector. His previous roles, including head of African Fixed Income and Local Markets Trading at Renaissance Securities Nigeria Limited, highlight his expertise in financial management.
Ini Ebong’s Contributions to Financial Markets
Before joining First Bank, Ini Ebong served with Citigroup for 14 years. There, he was the Country Treasurer and Sales and Business Head. He worked closely with regulatory bodies such as the CBN and DMO to assist with developing new monetary and foreign exchange policies. His experience at Citigroup and Renaissance Capital provided him with a solid foundation in financial markets, making him a valuable asset to First Bank.
Ebong’s work has benefited the institutions he has worked for and contributed to the overall development of Nigeria’s financial sector. His efforts in market development have been recognized widely, positioning him as a key figure in financial circles.
Omotunde Alao-Olaifa Appointed as Non-executive Director
FBN Holdings also announced the appointment of Omotunde Alao-Olaifa as a Non-executive Director. Alao-Olaifa is currently the Chief Financial Officer (CFO) of Leadway Holdings. Her appointment brings a wealth of experience and expertise to the board, further strengthening the leadership team at FBN Holdings.
Alao-Olaifa’s role as CFO at Leadway Holdings has equipped her with deep insights into financial management and strategic planning. Her addition to the board is expected to bring fresh perspectives and contribute to the bank’s strategic goals.
Strategic Leadership and Future Plans
The appointment of Olusegun Alebiosu, Ini Ebong, and Omotunde Alao-Olaifa reflects FBN Holdings’ commitment to strategic leadership and growth. These appointments are part of a broader plan to strengthen the bank’s management team and ensure robust governance.
Under Alebiosu’s leadership, the bank aims to continue its tradition of excellence and innovation. His vision for the bank includes expanding its market reach and enhancing its financial services. With Ebong as the Deputy Managing Director, the bank can leverage his expertise in international banking and market development.
Enhancing Market Presence and Customer Experience
Alebiosu and Ebong’s appointments are also expected to enhance First Bank’s market presence. Their combined experience and leadership will likely drive the bank’s growth strategy. Alebiosu’s focus on operational excellence and customer satisfaction aligns with the bank’s mission to provide top-notch banking services.
Ebong’s role in international banking will be crucial in expanding First Bank’s footprint beyond Nigeria. His experience in foreign exchange and securities will help the bank navigate the complexities of global markets. Together, they will work towards improving the bank’s services and delivering value to customers.
Commitment to Innovation and Excellence
FBN Holdings’ decision to appoint Alebiosu, Ebong, and Alao-Olaifa underscores its commitment to innovation and excellence. The bank recognizes the importance of strong leadership in achieving its goals. These appointments are a testament to the bank’s dedication to maintaining high governance and operational efficiency standards.
Alebiosu’s leadership is expected to drive innovation within the bank. His vision includes leveraging technology to enhance banking services and improve customer experience. Under his guidance, the bank is set to explore new avenues for growth and innovation.
Strengthening Governance and Operational Efficiency
The new appointments also aim to strengthen governance and operational efficiency at FBN Holdings. Alebiosu’s experience in strategic planning and management will be instrumental in driving the bank’s operational goals. His leadership style focuses on transparency and accountability, which are crucial for maintaining the bank’s reputation.
Ebong’s expertise in financial markets will support the bank’s efforts to optimize its operations. His understanding of market dynamics will help the bank make informed decisions and implement effective strategies. Together, Alebiosu and Ebong will work towards achieving operational excellence at First Bank.
Building a Sustainable Future
FBN Holdings is committed to building a sustainable future for its stakeholders. The new leadership team is expected to drive the bank’s sustainability initiatives. Alebiosu’s focus on long-term growth and sustainability aligns with the bank’s vision for the future.
Under Alebiosu’s leadership, the bank plans to implement strategies that promote sustainability and social responsibility. These initiatives will not only benefit the bank but also contribute to the overall development of the community. The bank’s commitment to sustainability is reflected in its efforts to balance economic growth with social and environmental responsibility.
A New Era for FBN Holdings
The appointment of Olusegun Alebiosu as MD/CEO and Ini Ebong as DMD marks a new era for FBN Holdings. Their leadership is expected to bring fresh perspectives and drive the bank’s growth strategy. Omotunde Alao-Olaifa’s appointment as Non-executive Director further strengthens the leadership team, ensuring robust governance and strategic direction.
FBN Holdings looks forward to a future of innovation, growth, and excellence under the new leadership. The bank’s commitment to customer satisfaction, operational efficiency, and sustainability remains at the core of its mission. With Alebiosu, Ebong, and Alao-Olaifa at the helm, FBN Holdings is poised for continued success and growth in the financial sector.
