FirstBank Appoints Gbenga Shobo as MD/CEO

The Chairman of First Bank of Nigeria Limited, Mrs. Ibukun Awosika announced in a statement on Wednesday the appointment of Mr. Gbenga Shobo, as the Managing Director/Chief Executive Officer designate of the bank.

Awosika said that the appointment was subject to all regulatory approvals. She added that Shoo succeeds Dr. Sola Adeduntan, who would be leaving the bank in accordance with its term limit for chief executives, after successfully leading the institution since January 2016.

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Before his appointment, Shobo is the Deputy Managing Director of the bank.

Awosika stated that: “These decisions will take effect from today, April 28, 2021. We are proud to announce Gbenga Shobo as our new Managing Director/Chief Executive Officer.

“His appointment has proven our 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.

“Shobo has had a successful career in the bank and elsewhere, culminating in his appointment as the deputy managing director, in 2016 prior to his appointment as DMD.

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

According to Awosika, the bank also appointed Mr Abdullahi Ibrahim as DMD. Mr Ini Ebong, Mr Segun Alebiosu, Mr Seyi Oyefeso and Mrs Bashirat Odunewu were also appointed as executive directors.

She emphasized that the decisions were subject to all regulatory approvals.