First Bank of Nigeria has appointed Olusegun Alebiosu as its acting managing director with effect from April 2024.

The Bank stated this in a release signed by its acting company secretary Adewale Arogundade.

Alebiosu takes from Adesola Adeduntan, who gave up the role abruptly on Saturday even though he was due to complete his tenure in December 2024.

The release stated that “following the resignation of the managing director/CEO of FirstBank, Dr. Adesola Adeduntan, the Board of Directors has appointed Olusegun Alebiosu as the acting CEO of the 130-year-old institution.

“The appointment takes effect immediately and is subject to the approval of the Central Bank of Nigeria.”

The release stated that Alebiosu was until this appointment the executive director, chief risk officer and executive compliance officer since January 2022. Prior to that, he was the Group executive/ chief risk officer, a position he held since 2016.

“Alebiosu brings to the executive management of FirstBank over 28 years’ experience in the banking and financial services industry with cross-functional exposure to Credit risk management, Financial planning and control, Credit and marketing, Trade, Corporate and commercial banking, Agriculture financing, Oil and Gas, Transportation (including Aviation and Shipping) and Project financing.”

It added that the new acting MD/CEO commenced his professional career in 1991 with Oceanic Bank Plc (now EcoBank) and prior to joining FirstBank in 2016 served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at African Development Bank Group and Group Head, Credit Policy & Deputy Chief Credit Risk Officer at United Bank for Africa Plc.

“He is an alumnus of Harvard School of Government and holds a Bachelor’s degree in Industrial Relations and Personnel Management. He also obtained a Master’s degree in International Law and Diplomacy from the University of Lagos and holds a Master’s degree in Development Studies from the London School of Economics and Political Science.

“He is a member of various professional bodies namely, Fellow, Institute of Chartered Accountants (FCA), Associate, Nigeria Institute of Management (ANIM), Chartered Institute of Bankers of Nigeria (CIBN) and Member, Nigeria Institute of International Affairs.”

First Bank of Nigeria Limited has rewarded six of its customers with N1 million each at the fourth
and grand finale of its ‘WinBig’ promo draw held at its head office in Lagos recently. The promo,
which kicked off in October last year, was one of the biggest campaigns in the financial industry
with FirstBank targeting to give out N170 million cash rewards and recharge cards to customers
who participated and met the criteria to qualify for the monthly draw selections.

In his remarks at the event, Adesola Adeduntan, the Chief Executive Officer (CEO) of FirstBank
Group, lauded the customers for what he described as their partnership and patronage over the
years.
Adeduntan, who was represented by Ini Ebong, the bank’s Executive Director, Treasury and
International Banking, said the promo was designed to reward new and existing customers for
making incremental deposits and savings amongst other transactions on their FirstBank
account. He said the initiative was aimed at reiterating the longstanding commitment of the bank
to put its customers first by rewarding them for their loyalty.

He stated: “At the onset of the promo, we set out to give 170 million naira cash rewards to our
customers who participated and met the criteria to qualify for the monthly draws. “I am happy to
announce that 1,240 customers have been rewarded in fulfilment of our promise today. “Today,
six more customers who have been certified to meet the criteria for the final draw will be
rewarded with N1 million each. “Let me also use this opportunity to thank all our customers for
their wide adoption of this promo across all the geographical locations in Nigeria, accentuating
the steady confidence reposed in the FirstBank brand.”

The FirstBank CEO assured the customers of the bank’s continued commitment to digitalise
financial inclusion, “where every Nigerian has ample opportunity and access to financial
services irrespective of age, location and geography.” Ikemefula Nwachukwu, Head of personal
banking at FirstBank, said 1,240 winners had won N100,000 each in the four draws. He added
that six lucky Nigerians won a million naira each while 40,000 customers got N1,000 airtime.

Representatives of the National Lottery Regulatory Commission (NLRC), Federal Competition
and Consumer Protection Commission (FCCPC), and Lagos State Lotteries and Gaming
Authority (LSLGA) witnessed the draw. Nkiru Onuzulu, zonal coordinator, Lagos zonal office,
NLRC, commended the transparency of the process and commended the bank for the promo.
She said the cash prizes would go a long way in alleviating the economic hardship faced by
families in Nigeria. Two past winners at the last draws — Precious Daniel and Nnaji Alphonsus,
who won a cash prize of N100,000 each, were also recognised.

FirstBank, Nigeria’s premier financial institution and leading financial inclusion services provider, has launched the Win Big promo to reward and delight its valued customers. The four-monthpromo, which started on 23 October 2023 and will run till 23 February 2023 will reward several new and existing customers of the Bank with a total cash reward of 170,000,000.00 naira.

At the end of the four-month promo, 1,240 new and existing customers would have been rewarded with N100,000.00 each as each month will have 310 new and existing customers winning N100,000. Up to 40,000 customers who reactivate their dormant account stand a chance to win free airtime as 10,000 customers will be rewarded with free airtime monthly for reactivating their dormant account.

6 customers will emerge lucky winners of N1,000,000 each in the grand finale draw. The promo is open to new and existing savings and current account customers.

To open a FirstBank account dial USSD code *894*0# and follow the prompt or visit the Bank’s website and click on “Open Account”. You can also visit any FirstBank branch near you to openaccount.

To qualify for the N100,000 monthly draw, customers will have to deposit and maintain a minimum amount of 5,000.00 in their account monthly and transact a minimum of 5 times transactions on any of the Bank’s digital channels: FirstMobile, LIT App, USSD, First Online as well as Debit Card transactions.

Customers who are eligible to win N1,000,000 must have a deposit of N50,000.00 monthly for four consecutive months or maintain a minimum deposit of N200,000.00 for four months and transact a minimum of 5 times on any of the Bank’s digital banking channels; FirstMobile, LIT App, USSD, First Online as well as Debit Card transactions to qualify for the grand finale draw.

Customers who reactivate their account(s) are also eligible to win. For reactivating their account, the first 10,000 customers to deposit N1,000.00 and transact on any of the Bank’s digital channels: FirstMobile, LIT App, USSD, First Online and Debit Card transactions will be rewarded with free airtime. Customers who reactivate their dormant account could also qualify for the monthly draw when they deposit and maintain a minimum amount of N5,000monthly and transact a minimum of 5 times on any of the Bank’s digital channels. They could also emerge winners of N1,000,000 in the grade finale draw if they meet the criteria.

To reactivate account, the customers will have to dial USSD code *894*7# and follow the prompt to reactivate Tier 1 accounts or visit any nearest FirstBank branch for Tier 2 and 3 account reactivation.

“We are thrilled to launch this promo in appreciation of the patronage, trust and loyalty our customers have shown us over the years,” said Ms. Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank Group. The exciting modalities of the promo reflect our commitment to enhancing the banking experience of our customers across any or all of our digital banking services.”

This is the season when FirstBank provides opportunities and platforms for the yearly memorable homecoming experience from across the world. The promo is an enabling opportunity forcustomers, their friends, and families to have exciting, fun-filled, memorable experiences. We encourage our customers to seize this opportunity and participate actively’ she concluded.

For more updates on the promo and other exciting offerings from FirstBank, follow the Bank’s social media handles on – Facebook: First Bank of Nigeria Limited, Instagram: @firstbanknigeria and X (formerly twitter): @FirstBankngr.