Olusegun Alebiosu Named Acting CEO of First Bank as Adesola Adeduntan Takes a Bow

First Bank of Nigeria (FBN) Limited has announced the appointment of Mr. Olusegun Alebiosu as the Acting Chief Executive Officer, following the resignation of its Managing Director/CEO of the financial institution, Dr. Adesola Adeduntan.

According to an official statement issued by FBN, the appointment takes effect immediately and is subject to the approval of the Central Bank of Nigeria (CBN). Alebiosu, who, as Executive Director/Chief Risk Officer, jointly led the transformation of FirstBank over the past 8 years, as an integral member of the team under the previous CEO’s leadership, is well-placed to deliver on the bank’s strategic objectives. Alebiosu joined First Bank in 2016 and has over three decades of banking experience.

The Board of Directors expressed gratitude to Adeduntan for his exemplary leadership in the last nine years, during which he superintended the transformation and growth of the bank, and wished him well in his future endeavours.

Shining light on the new acting CEO profile, FBN said Alebiosu was appointed the Executive Director, Chief Risk Officer and Executive Compliance Officer in January 2022. Before this appointment, he was the Group Executive/Chief Risk Officer, a position he held since 2016.

Segun brings to the Executive Management of First Bank over 28 years of experience in the banking and financial services industry with cross-functional exposure to Credit risk management, Financial planning and  control, Credit and marketing, Trade, Corporate and commercial banking, Agriculture financing, Oil and Gas,

Transportation (including Aviation and Shipping) and Project financing. He commenced his professional career in 1991 with Oceanic Bank Plc. (now EcoBank Plc.) and prior to joining First Bank in 2016 served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at African Development Bank Group and Group Head, Credit Policy & Deputy Chief Credit Risk Officer at United Bank for Africa Plc.

Segun is an alumnus of Harvard School of Government and holds a bachelor’s degree in Industrial Relations and Personnel Management. He also obtained a master’s degree in International Law and Diplomacy from the University of Lagos and holds a master’s degree in Development Studies from the London School of Economics and Political Science.

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.