First Bank Confirms Olusegun Alebiosu as MD, Ini Ebong As DMD

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

Updating the Nigerian Exchange Group on recent developments within the bank, the company’s Secretary, Adewale Arogundade, stated in a notice on Wednesday that Alebiosu’s nomination is subject to Central Bank of Nigeria confirmation.

Before his new appointment, Alebiosu served as the bank’s acting Managing Director since April 2024, when the previous MD, Adesola Adeduntan, resigned.

First Bank also named Ini Ebong as Deputy Managing Director (DMD) and Alao Olatunde-Olaifa as Non-Executive Director. Both appointments are also subject to approval by the apex bank.

Alebiosu has previously held positions at the bank, including Executive Director, Chief Risk Officer, Executive Compliance Officer, and Group Executive/Chief Risk Officer.

The new managing director has over 28 years of experience in banking and financial services, 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 finance.

Ebong formerly served as the bank’s Executive Director for Treasury and International Banking. He joins FirstBank’s Executive Management with over 20 years of banking experience.

Olatunde-Olaifa, Leadway Holdings’ current Group Financial Officer, joins the Board with extensive experience in corporate finance, including capital raising, debt restructuring, acquisition planning, project financing, and asset management.



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