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HomeAppointmentFirstBank Board Appoints Shobo As Managing Director/CEO designate 

FirstBank Board Appoints Shobo As Managing Director/CEO designate 

The Board of First Bank of Nigeria Limited at its meeting Wednesday, approved the appointment of  Gbenga Shobo, currently Deputy Managing Director, as the Managing Director/CEO designate of the bank.

This decision is subject to regulatory approvals. Shobo succeeds Sola Adeduntan, who will be leaving the bank in accordance with the bank’s term limit for its Chief Executives, after successfully leading the bank since January 2016.

Also appointed was Abdullahi Ibrahim as Deputy Managing Director, while Ini Ebong, Segun Alebiosu, Seyi Oyefeso and Mrs. Bashirat Odunewu, were also appointed as Executive Directors.

All the appointments are subject to regulatory approvals. Commenting on the appointment, the Chairman, First Bank, Mrs. Ibukun Awosika 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 underpins the institution’s enduring sustainability and the 127-year legacy”.

“I would like to thank Sola for his dedication and efforts during his helm at the bank, and before as Chief Finance Officer. The board and I are grateful for his leadership of the bank over the last five years and a half and believe that the strong foundation created during his term would provide an excellent basis for our continued success. We wish him well in his future endeavours outside the FirstBank Group.”

Shobo had a successful career in the bank and elsewhere, culminating in his appointment as Deputy Managing Director.

In 2016, prior to his appointment as Deputy Managing Director, 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.

The bank is through the agency banking platform, 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 it operates through its African subsidiaries.

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.

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