Thursday, 29 April 2021


Gbenga Shobo, MD/CEO, FirstBank
Gbenga Shobo
has been appointed as the Managing Director and Chief Executive Officer of First Bank by the directors. The appointment took effect from Wednesday, April 28, 2021. He succeeds Dr. Sola Adeduntan, who will be leaving the bank in accordance with the bank’s term limit for its Chief Executive, after successfully leading the bank since January 2016.
Tectono Business Review gathered that until the appointment, Shobo was the bank’s Deputy Managing Director. According to a statement by the bank, the appointment is subject to regulatory approvals, adding that Shobo was the Executive Director overseeing the retail banking / public sector businesses in the Lagos and West Directorate and was hitherto the Executive Director overseeing the retail business in the South Directorate prior to his appointment as First Bank DMD.
While speaking on the appointment, the Founder of The Chair Centre Limited who doubles as the Chairman of the bank, Mrs. Ibukun Awosika, said: “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 underpins the institution’s enduring sustainability and the 127-year legacy.

“I would like to thank Sola for his dedication and efforts during his helm at the bank, and before as Chief Finance Officer. The board and I are grateful for his leadership of the bank over the last five years and a half and believe that the strong foundation created during his term would provide an excellent basis for our continued success. We wish him well in his future endeavours outside the First Bank Group.”

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