First Bank of Nigeria Limited has officially appointed Olusegun Alebiosu as its Managing Director/Chief Executive Officer
Alebiosu, who has been acting in this capacity since April 2024 following the resignation of Adesola Adeduntan, brings a wealth of experience to his new role.
Over the past five years, Alebiosu has spearheaded significant transformations within FirstBank’s Risk Directorate.
Under his leadership, the bank has seen a marked improvement in its credit underwriting processes, achieving a vintage Non-Performing Loan ratio of less than 1% and reducing the overall NPL ratio to below 7%.
His tenure has also been characterized by substantial recoveries, robust franchise protection, and exemplary stakeholder management.
In addition to his role as Executive Director of the Risk Directorate, Alebiosu has also served as the bank’s Executive Compliance Officer, ensuring adherence to all relevant regulations.
Alebiosu is a distinguished Fellow of the Institute of Chartered Accountants of Nigeria, an Associate of the Nigerian Institute of Management, a member of the Chartered Institute of Bankers of Nigeria, and a member of the Nigerian Institute of International Affairs.
He holds a Bachelor’s degree in Industrial Relations & Personnel Management and a Master’s degree in International Law and Diplomacy from the University of Lagos.
His extensive professional development includes numerous courses and training programs in leadership, enterprise risk management, compliance, assets and liability management, trade, exports, and sustainability banking.
First Bank also announced the appointment of Ini Ebong as Deputy Managing Director.
Ebong, previously the Executive Director in charge of Treasury and International Banking, has a proven track record of success.
Before his role as Executive Director, Ebong was the Group Executive overseeing the Treasury and International Banking Group, where he transformed the bank’s legacy treasury services into a more agile, market-facing, and revenue-focused operation, significantly enhancing its contribution to the bank’s Profit Before Tax.
Since 2019, when Ebong took charge of the Sub-Saharan African subsidiaries, the franchise has shown consistent growth, with SSA subsidiaries now contributing over 20% of FirstBank Group’s revenue.
Ebong’s extensive career in financial services spans nearly three decades, including roles such as Head of African Fixed Income and Local Markets Trading at Renaissance Capital, and Head of Sales and Trading as well as Country Treasurer at Citibank Nigeria.
His expertise covers investment banking, financial markets, and equity and debt capital markets, with comprehensive experience in trading, treasury, balance sheet management, and finance.
