First Bank Holdco: Okonkwo Leads New Team

By Fola James

Barely three months after Nnamdi Okonkwo was appointed the Group Managing Director of First Bank Nigeria, FBN Holdings Plc, the flagship investment vehicle of Nigeria’s oldest bank, has appointed three new executive directors as part of the team to pilot its affairs.

According to a notice to the Nigerian Exchange Limited, NGX signed by the Seye Kosoko, company’s secretary, the new EDs are Olusegun Alebiosu, Executive Director, Risk Management & Executive Compliance Officer; Oluwatosin Adewuyi, Executive Director, Corporate Banking; and Ini Ebong, Executive Director, Treasury and International Banking

The appointments, the notice said are subject to the approval of the Central Bank of Nigeria.

Recall that Okonkwo was appointed on October 28, 2021 to replace UK Eke who departed from the bank on voluntarily retirement. A statement released by Kosoko said Okonkwo’s appointment takes effect from January 1, 2022.

The statement said, “The FBN Holdings Board has also announced that Eke will be succeeded by Mr. Nnamdi Okonkwo, a focused and result-oriented top banker, who will assume office as Group Managing Director, FBN Holdings Plc effective January 1, 2022.

“Okonkwo, the immediate past Chief Executive Officer of Fidelity Bank Plc, brings to bear on the Board of FBN Holdings more than 30 years unbroken banking career spanning local and international experience.

“He has a wealth of experience in transformational leadership, business strategy development and visioning, innovative corporate governance and risk management.

“He has led the transformation of banks, with the most recent being Fidelity Bank, where he led the management team in seven years to achieve remarkable results culminating in tripling profit and shareholder value.”

Okonkwo previously served as Executive Director for Southern Nigeria in Fidelity Bank. He was, at a point the Managing Director of UBA Ghana; Director, UBA Liberia; and a Director of the Ghana National Banking College.

He had also served in various leadership positions across other financial institutions, including Broad Bank of Nigeria Limited; Citizens International Bank, Nigeria; FSB International Bank Plc., Nigeria; Guaranty Trust Bank Plc., Nigeria; and Merchant Bank of Africa, Nigeria.