First Bank of Nigeria Limited has confirmed the appointment of Olusegun Alebiosu as its substantive Managing Director (MD) and Chief Executive Officer (CEO).

In a notice to the Nigerian Exchange Group on Wednesday, the bank said the appointment of Alebiosu is subject to the approval of the Central Bank of Nigeria (CBN). Before his new appointment, Alebiosu had served as the bank’s Acting Chief Executive Officer since April 2024, following the resignation of the former MD, Adesola Adeduntan.

First Bank also appointed Ini Ebong as the Deputy Managing Director (DMD) and Alao Olatunde-Olaifa as NonExecutive Director. Both appointments are also subject to the approval of the apex bank. Alebiosu previously served as the bank’s Executive Director, Chief Risk Officer, Executive Compliance Officer, Group Executive/ Chief Risk Officer, among others.

Alebiosu has over 28 years’ 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 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.