FBN Holdings Plc has announced Dr Adesola Adeduntan's resignation as the Managing Director/Chief Executive Officer of its flagship subsidiary, First Bank.

In a letter signed by the Acting Group Company Secretary, Mr Adewale Arogundade, First Bank informed the investing public, stakeholders and shareholders that Mr Olusegun Alebiosu has been appointed as the new Acting CEO.

His appointment takes effect immediately and is subject to the approval of the Central Bank of Nigeria. Until his appointment, Mr. Alebiosu served as the bank's Executive Director / Chief Risk Officer and jointly led the transformation of the financial institution over the past 8 years.

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

The bank is confident in the new Acting CEO, Mr. Olusegun Alebiosu, who has been an integral member of the team under the previous CEO’s leadership. With his extensive banking experience spanning over three decades, he is well positioned to continue driving the bank’s strategic objectives forward.  

He commenced his professional career in 1991 with Oceanic Bank Plc. (now EcoBank Plc.) and prior to joining FirstBank 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 with 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.