The board of First Bank of Nigeria Limited on Wednesday, approved the appointment of Mr. Gbenga Shobo, currently Managing Deputy Director, as the Managing Director/CEO designate of the bank. The lender has also appointed Mr. Abdullahi Ibrahim, as its new Deputy Managing Director.
Mr. Gbenga Shobo
Gbenga
succeeds Sola Adeduntan, who will be leaving the bank since January
2016. These decisions will take effect from today, 28 April 2021.
Also
appointed is Abdullahi lbrahim as Deputy Managing Director, while Mr.
Ini Ebong, Mr. Segun Alebiosu, Mr. Seyi Oyefeso and Mrs Bashirat Odunewu
are also appointed as Executive Directors.
According to the bank, the decision is subject to all regulatory approvals.
While announcing the appointments, Mrs. Ibukun Awosika, Chairman, First Bank of Nigeria Limited said:
“We
are proud to announce Gbenga Shobo as our new MD/CEO. His appointment
has proven the resilience of our succession planning mechanisms and the
value we place on our long-standing corporate governance practices,
which underpin the institution’s enduring sustainability and 127-year
legacy
“Gbenga
has had a successful career in the Bank and elsewhere, culminating in
his appointment as Deputy Managing Director (DMD), in 2016 Prior to his
appointment as DMD, he was the Executive Director overseeing the Retail
Banking/Public Sector businesses in the Lagos & 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’s Agency banking business, which
today, is the market leader in Agency Banking. Leveraging partnerships
and best-in-class technology and bringing banking services to millions
of unbanked and underbanked customers in Nigeria and across various
countries where we 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 pre-eminent
bank in our chosen markets, delivering value to our stakeholders.
“I
would like to thank Sola for his dedication and efforts 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 5 and a half years and believe that
the strong foundations created during his term will provide an
excellent basis for our continued success. We wish him well in his
future endeavors outside the FirstBank Group.
More details soon…
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