EXCLUSIVE: Meet the man who will suceed Adeduntan as First Bank CEO
Segun Alebiosu, currently the executive director/chief risk officer/executive compliance officer at First Bank of Nigeria Plc, is poised to assume the role of managing director following the resignation of Adesola Adeduntan after nine years in office. The bank’s board has reportedly approved Alebiosu’s appointment, pending a formal notification to the Nigerian Exchange Limited.
With nearly 30 years of experience in the banking and financial services sector, Alebiosu has held various positions across different institutions. He began his professional journey in 1991 with Oceanic Bank Plc. before joining First Bank in 2016. His tenure at First Bank has seen him serve as Group Executive/Chief Risk Officer before his appointment as executive director in charge of risk and compliance functions.
Alebiosu’s extensive expertise spans credit risk management, financial planning and control, credit and marketing, trade, corporate and commercial banking, as well as financing sectors such as agriculture, oil and gas, transportation, and project financing. His educational background includes a bachelor’s degree in Industrial Relations and Personnel Management, a master’s degree in International Law and Diplomacy from the University of Lagos, and another master’s degree in Development Studies from the London School of Economics and Political Science. He is also an alumnus of Harvard School of Government.
In addition to his academic qualifications, Alebiosu is a member of various professional bodies, including the Institute of Chartered Accountants, Nigeria Institute of Management, Chartered Institute of Bankers of Nigeria, and Nigeria Institute of International Affairs. He is described as an avid golfer and adventurer, happily married with children.
The sudden retirement of Adesola Adeduntan, who had served notice to the bank’s board, came as a surprise, with the exact reasons undisclosed. Adeduntan acknowledged the significant changes and achievements made during his tenure, positioning First Bank as a leading financial institution in Africa. He expressed gratitude to the board for their support and wished the bank continued success as it enters a new phase.
In light of Adeduntan’s departure, Alebiosu’s appointment signals continuity and stability within First Bank. His wealth of experience and leadership qualities are expected to guide the bank through its next phase of growth and development. The transition reflects the bank’s commitment to maintaining its position as a prominent player in the Nigerian banking industry.
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