Gbenga Shobo Appointed First Bank MD

Gbenga Shobo Appointed First Bank MD

has been appointed First Bank’s new managing director.

The First Bank Board of Directors, following a meeting on Wednesday, approved the appointment of Mr as the bank’s Managing Director-designate, subject to all regulatory approvals.

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Shobo was Deputy Managing Director of First Bank prior to his appointment as MD, according to this online news site.


Shobo succeeds Sola Adeduntan, who will leave the bank after effectively leading it since January 2016 in compliance with the bank’s term limit for Chief Executives. These decisions will take effect on April 28th.

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“We are proud to announce Gbenga Shobo as our new MD/CEO,” said Mrs Ibukun Awosika, chairman of First Bank of Nigeria Limited, in announcing the appointment. His appointment demonstrates the tenacity of our succession planning processes, as well as the importance we place on the institution’s long-standing governance practises, which are the foundation of the institution’s long-term viability and 127-year legacy.

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“Gbenga has had a long and fruitful career in the bank, culminating in his appointment as Deputy Managing Director (DMD) in 2016. He was the Executive Director overseeing the Retail Banking/Public Sector businesses in the Lagos & West Directorate prior to his appointment as DMD, and he was previously the Executive Director overseeing the Retail Businesses in the South Directorate.

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“As part of his Retail Banking responsibilities, he has been instrumental in the development and growth of the bank’s Agency Banking business, which is now the market leader in Agency Banking, leveraging partnerships and best-in-class technology to bring banking services to millions of unbanked and underbanked customers in Nigeria and across various African countries where we operate through our African subsidiaries.


Abdullahi Ibrahim, like Shobo, has been appointed Deputy Managing Director, while Mr Ini Ebong, Mr Segun Alebiosu, Mr Seyi Oyefeso, and Mrs Bashirat Odunewo have been named Executive Directors, pending regulatory approval.


“I’d like to express my gratitude to Sola for his commitment and contributions while at the helm of the bank and prior to that as CFO.

The Board and I are thankful for his leadership of the Bank over the last five and a half years, and we hope that the solid foundations he laid will serve as a solid base for our continued success. “We wish him the best of luck in his future endeavours outside of the FirstBank Group,” Awosika concluded.



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