FirstBank Names New MD/CEO -Francis Gbenga Shobo

April 28, 2021

By Evan Charles InvestAdvocate

Gbenga Shobo, Manaing Director/Chief Executive Officer, First Bank of Nigeria Limited: Image Credit: FirstBank of Nigeria

Lagos (INVESTADVOCATE)-The Board of Directors of First Bank of Nigeria Limited on Wednesday announced the appointment of Gbenga Shobo as its managing director/chief executive officer (CEO), Ibukun Awosika, chairman of the bank disclosed the appointment in a statement.

Shobo succeeds Sola Adeduntan, who will be leaving the bank in accordance with the term limit for chief executives, after leading the bank since January 2016.

“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. 

The board is confident that Gbenga has the experience and understanding of the bank and the know-how to lead the bank through this next phase of growth, which is focused on positioning First Bank as the pre-eminent bank in our chosen markets, delivering value to our stakeholders.

I would like to thank Sola for his dedication and efforts during his helm at the Bank, and before as CFO. The board and I are grateful for his leadership of the bank over the last 5 and a half years and believe that the strong foundations created during his term will provide an excellent basis for our continued success.” Awosika said in the statement.

The statement says Shobo’s appointment is subject to regulatory approval.

Also appointed is Abdullahi Ibrahim as deputy managing director (DMD), while Ini Ebomg, Segun Alebiosu, Seyi Oyefeso and Bashiratu Odunewu were also appointed as executive directors (EDs) all appointments are subject to regulatory approvals.

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