Power change at First Bank come October 01 2010


The Bank had earlier notified The Exchange through its letter of July 15, 2010 of the voluntary resignations of three of its Executive Directors, this was carried in our Bulletin ref: ISD/07/16/014.



The Board of Directors of the Bank at its Board meeting decided in line with international best practice to maintain the right ratio of Executive Directors to Non-Executive Directors on the Board and consequently decided not to increase the number of Executive Directors in the Bank beyond the present five, Group Managing Director/Chief Executive inclusive.



The Board has however approved that the vacancies created with the exit of the former three Executive Directors will be filled with personnel who will assume full functions of those roles with full responsibilities of driving their business areas, but will not seat on the Board.



Consequently the following individuals from within the organization have been appointed to fill vacant and new management roles:


Bayo Adelabu – Chief Financial Officer (formerly Financial Controller)

Bayo Adeleke – Head, Institutional Banking (continuing in his present capacity)

Dauda Lawal – Head, Public Sector North (formerly Business Dev. Mgr Maitama Abuja)

Gbenga Shobo – Head, Retail South (formerly Head, Products and Channels)

Bernadine Okeke -Head, Private Banking (Bus. Dev. Mgr. Lekki)

The existing executive Directors will function in the following leadership roles:

Alex Oti – ED Public Sector South

Kehinde Lawanson – ED Corporate Banking

Yerima Ngama – ED Retail North (formerly Ed Public Sector North)

Remi Odunlami – ED / Chief Risk Officer.


These changes will be effective October 1, 2010.





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