First Bank of Nigeria (FBN) Limited has officially confirmed the appointment of Olusegun Alebiosu as its permanent managing director (MD) and chief executive officer (CEO). This announcement was made in a statement filed with the Nigerian Exchange Limited (NGX) on Wednesday by FBN Holdings, the bank’s parent company. The appointment is, however, contingent upon the approval of the Central Bank of Nigeria (CBN).
Alebiosu had been serving as the acting managing director since April 22, stepping into the role following the resignation of Adesola Adeduntan, who departed the position with eight months remaining on his contract.
Additionally, FBN Holdings has appointed Ini Ebong as the new deputy managing director (DMD). Previously, Ebong served as the executive director responsible for treasury and international banking, a position he held since January 2022.
Before joining First Bank, Ebong was at the helm of African Fixed Income and Local Markets Trading at Renaissance Securities Nigeria Limited, a subsidiary of Renaissance Capital registered in Nigeria. “Prior to his tenure at Renaissance, he spent 14 years with Citigroup, where he held the positions of Country Treasurer and Sales and Business Head,” FBN Holdings detailed in their statement.
FBN Holdings highlighted Ebong’s commitment to market development, noting that he has been instrumental in driving change and promoting the internationalization of Nigeria’s financial markets, including foreign exchange, fixed income, and securities. He has collaborated closely with regulatory bodies like the CBN and the Debt Management Office (DMO) to aid in the development of innovative monetary and foreign exchange policies.
Moreover, FBN Holdings has announced the appointment of Omotunde Alao-Olaifa, currently the chief financial officer (CFO) at Leadway Holdings, as a non-executive director, further strengthening the board’s leadership.
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