First Bank Appoints Olusegun Alebiosu as Managing Director, Ini Ebong as DMD


June 20, 2024.

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Azonuchechi Chukwu.

First Bank of Nigeria Limited has appointed Olusegun Alebiosu as its substantive Managing Director/Chief Executive Officer.

He has been serving as the Acting Managing Director of the bank since April 2024, when the former MD, Adesola Adeduntan resigned his position as the MD/CEO of the bank.

The bank also announced the appointment of Ini Ebong as the Deputy Managing Director. Ini was the bank’s Executive Director in charge of Treasury and International Banking since January 2022.

The bank also announced the appointment of Omotunde Alao-Olaifa, the CFO of Leadway Holdings as a non-executive Director.

First Bank of Nigeria Limited, a subsidiary of FBN Holdings has undergone significant leadership changes since March 2024, when its MD resigned.

Olusegun Alebiosu before Acting as the MD of the bank, was an Executive Director with the bank, serving as the Chief Risk Officer and the Executive Compliance Officer of the bank since January 2022. He has been the Chief Risk Officer (CRO) of First Bank since 2016.

Before joining First Bank as the CRO in 2016, he was the CRO at Coronation Merchant Bank. He was also the Chief Credit Risk Officer at the African Development Bank Group and was the Deputy Chief Credit Risk Officer at UBA. His professional career commenced in 1991 with Oceanic Bank Plc (now Ecobank Plc).

He is an alumnus of the University of Lagos, where he obtained a Bachelor’s Degree in Industrial Relations and Personnel Management. Alebiosu then obtained a Master’s Degree in International Law and Diplomacy from the University of Lagos.

Alebiosu obtained a Master’s Degree in Development Studies from the London School of Economics and Political Science. He also completed the Advanced Management Program at Harvard Business School.

Ini Ebong will resume as the bank’s Deputy Managing Director after serving as the Executive Director of treasury and International Banking from January 2022. He was previously the Group Executive, Treasury and International Banking from 2016.

Before serving as a Group Executive, he was the Bank’s treasurer, a position he held from 2011 to 2016.

Prior to joining First Bank, he worked with Renaissance Securities Nigeria Limited, as well as Citigroup, where he was the Country Treasurer, as well as Sales and Business Head.

Ebong holds both a Bachelor’s and Master of Science degree in Architecture from the University of Ife (now OAU).

Omotunde Alao-Olaifa is currently the Group Chief Financial Officer/Strategy and Principal Investment at Leadway Holdings.

Before joining Leadway Holdings, he was an Investment Banking associate with Lionstong Group. He was also an assistant manager in Fidelity Bank, in the corporate banking division. (

Chukwu Azochukwu, The Naija247news
Chukwu Azochukwu, The Naija247news
Azonuchechi Chukwu - Business Journalist at Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the team.

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