The Board of Directors of First Bank has announced Segun Alebiosu, Executive Director and Chief Risk Officer of First Bank, as the Acting Managing Director and Chief Executive of the bank.
His appointment follows the resignation of Adesola Kazeem Adeduntan, and he is expected to take the job for an interim period until he is cleared by the Central Bank of Nigeria, CBN.
In a statement released by the bank, Mr. Alebiosu brings to the Executive Management of FirstBank 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 and Project financing.
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The board of the bank had convened a meeting to review the fast paced developments that have followed the cancelation of the planned extraordinary general meeting and the sudden resignation of Adeduntan, who wrote in from Washington to say he was quitting as CEO effective April 20.
Mr. Adeduntan is expected to formally hand over to the Acting Managing Director on April 29 when he would have returned from the US where he is attending the World Bank/IMF spring meetings.
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