By InvestAdvocate

Lagos (INVESTADVOCATE)-First Bank of Nigeria Plc (FBN) Wednesday said it has appointed a new Executive Director (ED), Adebayo Adekola Adelabu to help strengthen the Corporate Governance of the Bank.

This is contained in Press Release from the Bank and obtained by www.investadvocateng.com in Lagos Nigeria.

“Determined to deepen its ongoing corporate transformation exercise, First Bank of Nigeria Limited has announced the appointment of its Chief Financial Officer, Mr. Adebayo Adekola Adelabu to the Board as Executive Director. The appointment of Mr. Adelabu, who will still retain his portfolio as the Chief Financial Officer, is expected to follow the statutory approval of the Central Bank of Nigeria” the Release said.

According Bisi Onasanya, Managing Director/Chief Executive Officer (MD/CEO) of the Bank, the choice of the new Director is geared towards enhancing the capacity of the Executive Management and Board, by deepening specialisation and strengthening the corporate governance culture of the Bank.

Adelabu, is a first Class Accounting Degree Graduate from the Obafemi Awolowo University, Ile Ife and an alumnus of Global Accounting Firm, PricewaterhouseCoopers.

He was formerly the Group Financial Controller of the Bank between 2009 and 2010 and the pioneer head of Business Performance Monitoring Department between 2005 and 2007.

“Under his leadership, the existing performance management framework for the Bank was set up while he was also credited with the successful execution of the Bank’s medium term strategic plan targeted  at profitable growth with respect to revenue maximisation and cost optimisation” the Statement affirmed.

He also had a brief stint at Standard Chartered Bank between 2007 and 2009 as General Manager and the West African Regional Head of Finance and Strategy.

Adelabu is a Fellow of the Chartered Institute of Chartered Accountants of Nigeria with over 20 years of global and far-reaching professional experience in Banking, Audit and Management consulting.

“As the leading financial services institution in Nigeria, the Bank is keen on ensuring adherence to international best practices in the constitution of its Board and Management. We, therefore, continuously seek the most capable talents in-house and in the industry to fill vacant positions within the group, Onansanya said”.