Olufowose Becomes New Chairman of First Bank

May 10, 2024
Ebenezer Olufowose

By Aduragbemi Omiyale

First Bank of Nigeria Limited has announced the appointment of Mr Ebenezer Olufowose as its new Chairman, replacing Mr Tunde Hassan-Odukale, who retired from the position after 12 years as a non-executive director of the organisation.

A statement signed by the acting secretary of First Bank, Mr Adewale Arogundade, explained that Mr Hassan-Odukale had to exit the position in compliance with the corporate governance guidelines of the Central Bank of Nigeria (CBN).

Mr Olufowose, who is the Group Managing Director of First Ally Capital Limited, an investment banking firm based in Lagos, was appointed to the board of First Bank on April 29, 2021.

With over 36 years of working in the financial services industry, he brings skills from Corporate Finance, Project Finance and Investment Banking to the board.

Before joining the First Bank board, he was an Executive Director at Access Bank Plc and Citibank Nigeria, where he led Citigroup’s origination, structuring and execution of corporate finance and investment banking transactions in Nigeria.

He started his banking career in 1985 at NAL Merchant Bank Plc (NAL), working in the Corporate Planning and Finance Departments.

A first-class honours degree holder in Economics from the University of Lagos, Mr Olufowose holds an MA in International Economics from the University of Sussex, England.

He has attended several management and leadership training programmes at leading institutions, including the Institute of Management Development, Switzerland, Harvard Business School, Boston, USA, and INSEAD Singapore.

He is an Alumnus of the Harvard Business School and the Lagos Business School, an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria, a Fellow of the Institute of Credit Administration and a Fellow of the of Investment Advisers and Portfolio Managers.

Aduragbemi Omiyale

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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