First Bank of Nigeria Limited has announced the appointment of Olusegun Alebiosu, Oluwatosin Adewuyi, and Ini Ebong to its board as executive directors. Their appointments are however subject to the approval of the Central Bank of Nigeria(CBN)
Before the appointment, Alebiosu served as group executive and chief risk officer of First Bank Group, having joined the bank in September 2016 from African Development Bank Group(AfDB) where he was the chief credit officer.
Through the last five years of having the First Bank‘s risk directorate under his watch, there has been a risk management transformation at the bank, significant improvement of its credit underwriting process with vintage NPL ratio of less than 1 percent, reduction of our NPL ratio to sub-7 percent levels, significant recoveries, exemplary franchise protection, and excellent stakeholder management.
Alebiosu obtained his first degree in Industrial Relations and Personnel Management and a Master’s Degree in International Law and Diplomacy from the University of Lagos. He has attended numerous courses and training programmes on leadership, enterprise risk management, compliance, assets and liability management, trade, exports, sustainability banking.
Adewuyi was the group executive, corporate banking with the responsibility of overseeing the bank’s corporate and transaction banking businesses, following the exit of the previous executive director.
Adewuyi’s designation elevation to executive director stems from the exemplary role and impact he has had on the bank’s corporate banking franchise with significant growth in assets and net revenue achieved. He was until recently, executive director, Business Development at the Group’s flagship subsidiary; FBNBank UK where he played a pivotal role in the execution of the bank’s new strategy and rebuilding the loan portfolio to align more closely with the new risk appetite defined by the parent.
He is an international banker with over 20 years of experience, covering sub-Saharan Africa. He joined First Bank from JP Morgan where he was a managing director and had worked at Standard Bank, London for about five years and qualified as a certified chartered accountant during the four years he worked at KPMG.\
Adewuyi has a BA(Hons) in Economics and Accountancy from the University of Manchester. He’s a Fellow of the Association of Chartered Certified Accountants (FCCA), an honourary member of the Chartered Institute of Bankers of Nigeria, and was on the 2012 Power list-Business, Finance, and IT, as one of the top 100 influential black people in the UK.
Preceding Ebong’s ascension to the position of executive director, Treasury, and International Banking, he served as the group executive in charge of the treasury and international banking group at the bank. Under his leadership, the legacy treasury service of the bank has been transformed into a more nimble function; market-facing and revenue-focused business, consistent with that obtainable with global operational exceptions, thus improving its contribution to the bank’s Profit Before Tax (PBT)
Since 2019 when the Sub-Saharan African(SSA) subsidiaries were brought under his supervision, the franchise has grown consistently with SSA subsidiaries now contributing more than 20 percent of the First Bank Group’s revenue.
Ebong’s career journey included serving as head of African fixed income and local markets trading for Renaissance Capital, and head, Sales and Trading at Citibank Nigeria where he also doubled as the country treasurer. Throughout his career in financial services spanning almost thirty years, Ini has had extensive experience in investment banking, financial markets, equity, and debt capital market businesses, with work experience that covers trading, treasury, balance sheet management, and finance.
Ebong is a qualified architect with a BSc and MSc in Architecture from the University of Ife(now Obafemi Awolowo University). He has also attended numerous training courses during his career covering leadership, executive management techniques, advanced credit risk management, treasury trading, and balance sheet management, and market risk assessment in various locations worldwide.
Speaking on the appointments, Chief Executive Officer, First Bank of Nigeria Limited, Dr. Adesola Adeduntan, said, ‘’On behalf of the board, management, and staff of First Bank, we are delighted with these appointments as it reflects the vibrancy of our internal recruitment, ascension and succession planning.
‘’Olusegun, Oluwatosin, and Ini have through the years contributed in no small measure to the growth of the bank. Indeed, they have played pivotal roles in the Group’s continued commitment to nation-building and the key milestones we have achieved thus far such as the forefront in driving financial inclusion and empowering SMEs’’.
By- Bukola Idowu