The board of First Bank of Nigeria Limited on Wednesday approved the appointment of Mr. Gbenga Shobo, currently Managing Deputy Director, as its Managing Director/CEO designate of the bank.
The lender has also appointed Mr. Abdullahi Ibrahim, as its new Deputy Managing Director.
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A statement by the bank made on Wednesday said Gbenga succeeds Sola Adeduntan, who will be leaving the bank. These decisions 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 were 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.
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.