First Bank Nigeria Appoints New Chairman After Leadership Reshuffle
First Bank Holdings, parent company of First Bank Nigeria, has announced Ebenezer Olufowose as its new chairman. This comes after the completion of Tunde Hassan-Odukale’s 12-year tenure.
Changes at the Helm:
- New Chairman: Ebenezer Olufowose takes the reins after being appointed to the board in April 2021.
- CEO Resignation: In April 2024, Adesola Adeduntan, CEO of First Bank Nigeria for nine years, stepped down. This led to the cancellation of a planned capital raise meeting.
- Board Shakeup: The departures of Adeduntan and Odukale follow a 2021 Central Bank of Nigeria (CBN) initiative that replaced the entire board.
Olufowose’s Background:
- A seasoned financial expert with a 36-year career, Olufowose holds a first-class honors degree from the University of Lagos.
- Prior to his current role, he served as Group Managing Director of First Ally Capital Limited.
- Olufowose brings extensive experience in corporate finance, project finance, and investment banking gained through his previous positions at Access Bank Plc and Citibank Nigeria.
Looking Ahead:
With a new chairman and leadership team in place, First Bank Nigeria can now focus on its recapitalization efforts and navigate the future with a fresh perspective.
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