Nigeria: First Bank announces appointment of Olusegun Alebiosu as managing director

First Bank of Nigeria Limited, the commercial banking arm of the financial services group, has announced the appointment of Olusegun Alebiosu as Managing Director/CEO.

FBN Holdings confirmed in a regulatory filing that the appointment has received the necessary approvals from both the board and the Central Bank of Nigeria.

Mr. Alebiosu has been serving as acting Managing Director since April 21, following the resignation of Adesola Adeduntan from the top management position.

He holds a Bachelor’s degree in Industrial Relations & Personnel Management and a Master’s degree in International Law and Diplomacy from the University of Lagos.

Mr. Alebiosu earned a master’s degree in Development Studies from the London School of Economics and Political Science. An alumnus of both Harvard Business School and the Harvard School of Government, he started his professional journey in 1991 at the now-defunct Oceanic Bank.

Between 2006 and 2011, he served as the Group Head of Credit Policy and Product Programs at the United Bank for Africa. He then transitioned to the African Development Bank, where he held the role of Chief Credit Risk Officer.

Mr. Alebiosu led the Risk Management Unit at Coronation Merchant Bank until 2015. In 2016, he joined First Bank as Group Executive/Chief Risk Officer. He was subsequently promoted to Executive Director, Chief Risk Officer, and Executive Compliance Officer, positions he held from January 2022 to April 2024.