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The Board of Directors of First Bank of Nigeria Limited has appointed Gbenga Shobo as its Managing Director/Chief Executive Officer effective from April 28.
Shobo takes over from Adesola Adeduntan, who will be retiring in accordance with the bank’s term limits for chief executives, having headed it since 2016.
The bank’s Chairman, Ibukun Awosika, disclosed in a statement on Wednesday.
Until now his appointment, Shobo, was FirstBank’s deputy managing director.
“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,” said Awosika.
Adding: “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 FirstBank as the pre-eminent bank in our chosen markets, delivering value to our stakeholders.”
Shobo is a A chartered accountant. In 1986, he joined PricewaterhouseCoopers (formerly known as Coopers & Lybrand) and then moved to former Victory Merchant Bank to start his banking career.
