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First Bank Announces Olusegun Alebiosu as Acting CEO

First Bank of Nigeria Limited, the country’s top commercial bank, has named Olusegun Alebiosu as its interim Managing Director starting from April 2024.

The announcement was made by First Bank’s acting company secretary, Adewale Arogundade, in a statement released on Sunday.

Alebiosu assumes this role following the resignation of Adesola Adeduntan, who served as Managing Director for nine years.

Prior to that, he was the Group Executive/Chief Risk Officer, a position he held since 2016.

With over 28 years of experience in the banking and financial services sector, Alebiosu brings a wealth of expertise in various areas including credit risk management, financial planning, corporate banking, and project financing.

His professional journey began in 1991 at Oceanic Bank Plc, now EcoBank Plc, and he later held key positions at Coronation Merchant Bank Limited, African Development Bank Group, and United Bank for Africa Plc.

Alebiosu holds Bachelor’s degrees in Industrial Relations and Personnel Management, a Master’s degree in International Law and Diplomacy from the University of Lagos (UNILAG), and a Master’s degree in Development Studies from the London School of Economics and Political Science.

He is also affiliated with esteemed professional bodies such as the Institute of Chartered Accountants, Nigeria Institute of Management, Chartered Institute of Bankers of Nigeria, and Nigeria Institute of International Affairs.



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