BREAKING: First Bank names new MD/ CEO

The Board of First Bank Nigeria Limited has approved the appointment of Mr Gbenga Shobo, currently Deputy Managing Director as the new Managing Director /CEO, designated of the bank.

The lender after its board meeting today Wednesday explained that the decision is subject to all regulatory approvals.
According to the bank, Gbenga succeeds Adesola Adeduntan, who will be leaving the bank in accordance with the bank terms limit for its Chief Executives, after successfully leading the bank since January 2016. This decision will take effect from today 28th April 2021.

In announcing this appointment, Mrs Ibukun Awosika, Chairman First Bank of Nigeria Limited, explained: ” We are proud to announce Gbenga Shobo as our new MD/CEO. His appointment has to prove the resilience of our succession planning mechanism and the value we placed on our long-standing cooperation, governance practice, which underpinned the institution enduring sustainability and 127year legacy.
“Gbenga has had a successful career in the bank and elsewhere, culminating in his appointment as Deputy Managing Dire4ctor (DMD) in 2016. Prior to his appointment as DMD, he was the Executive Director overseeing the retail banking/Public sector Businesses in the Lagos and West Directorate and was hitherto the Executive Director overseeing the retail business in the South Directorate.

As part of his responsibility for retail banking, he has been instrumental in developing and growing the bank agency baking business, which today, is the market leader in agenct=y banking leveraging partnership and best in class technology and bringing service to millions of unbanked and underbanked customers in Nigeria, and across various countries where operate through our African subsidiaries.

“The Board is confident that Gbenga has the experience and understanding of the bank and the know-how to lead the bank through this next phase of growth which is focused on positioning First Bank as the preeminent bank in our chosen markets, delivering value to our stakeholders.”

Also appointed today is Abdullahi Ibrahim as Deputy Managing Director, while MR Ini Ebong, Mr Segun Alebiosu, Mr Seyo Oyefeso and Mrs Bashirat Odunewu are also appointed as Executive Directors. These decisions are subject to all regulatory approvals.
Awosika added, “I would like to thank Sola for his dedication and effort during his helm at the bank, and before as CFO. The Board and I are grateful for his leadership of the bank over the last five and a half years and believe that the strong foundation created during his term will provide an excellent basis for our continued success, we wish him well in his future endeavours outside the Fist Bank”.