First Bank confirms Alebiosu as CEO, Ini Ebong as deputy MD

First Bank of Nigeria (FBN) Limited has confirmed the appointment of Olusegun Alebiosu as its substantive managing director (MD) and chief executive officer (CEO).

In a statement filed on the Nigerian Exchange Limited (NGX) on Wednesday, FBN Holdings, the parent company of the lender, said Alebiosu’s appointment was subject to the approval of the Central Bank of Nigeria (CBN).

He has been serving as the acting managing director of First Bank since April 22.

Alebiosu’s appointment followed the resignation of Adesola Adeduntan, who still had eight months before his contract ended.

FBN Holdings also announced the appointment of Ini Ebong as the deputy managing director (DMD).

Ebong was the bank’s executive director in charge of treasury and international banking from January 2022.

“Before joining FirstBank, he was the head of African Fixed Income and Local Markets Trading, Renaissance Securities Nigeria Limited, the Nigerian registered subsidiary of Renaissance Capital,” FBN Holdings said.

“He also worked with Citigroup for 14 years as Country Treasurer and Sales and Business Head.

“Ini has a passion for market development and has worked actively to drive change and internationalisation of the Nigerian financial markets: foreign exchange, fixed income and securities. 

“He has worked closely with regulatory bodies such as the CBN and DMO in assisting with the development of fresh monetary and foreign exchange policies.”

Also, FBN Holdings said Omotunde Alao-Olaifa, the chief financial officer (CFO) of Leadway Holdings, has been appointed as a non-executive director.  

Alao-Olaifa is also on the boards of C&I Leasing Pic and Leadway Pensure PFA.