Business

First Bank CEO Adeduntan Resigns 

The Managing Director of First Bank Nigeria Limited, Dr. Adesola Kazeem Adeduntan, has resigned from the bank after leading the institution for three terms.

In a letter seen on Friday, which was addressed to the Chairman of First Bank, Mr. Tunde Hassan-Odukale, titled, ‘Notice of Retirement,’ the bank CEO whose tenure ought to elapse on December 31, 2024, voluntarily decided to step down. He would commence his pre-retirement leave from Saturday.

Adeduntan, who was appointed CEO of the bank on January 1, 2016, also stated in his resignation letter that he was leaving to pursue other interests.

The letter read: “As you are aware, my contract would be expiring on 31 December, 2024, after which I would no longer be eligible for employment within the bank having served as the Managing Director/Chief Executive Officer of FirstBank for a record time of nine years.

“During this period the bank and its subsidiaries has undergone significant changes and broken new grounds. We have repositioned the institution as an enviable financial giant in Africa. I have however decided to proceed on retirement with effect from 20 April, 2024, to pursue other interests.

“I am eternally grateful to the board of directors of FirstBank and FBN Holdings Plc for the support that I received from them during my stewardship. I wish our iconic institution continue success and progress as we move into the next phase of its evolution. Warm regards.”

The bank chief who was retired in 2021, by the then board of the financial institution, was reinstated a few days later by the Central Bank of Nigeria.

Since his appointment as MD/CEO, Adeduntan has contributed significantly towards the transformation of the financial institution and made it attractive to every strata of the society. From an institution that used to be perceived as an old-generation bank, FirstBank’s perception has improved significantly.

His career in banking and finance spanning more than three decades has earned him various recognitions and awards. He holds a Doctor of Science, Honoris Causa and an MBA from Cranfield University, United Kingdom which he attended as a Chevening Scholar, and a Doctor of Veterinary Medicine (DVM) awarded by the University of Ibadan. He has attended various executive and leadership programmes at Harvard Business School (USA), Wharton School (USA), London Business School (UK), IESE (Spain), University of Oxford (UK), University of Cambridge (UK), CEIBS (China) and INSEAD (France). He is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers of Nigeria (CIBN).

Kayode Tokede

Follow us on:

AriseNews

Recent Posts

Los Angeles Sports Teams Postpone Games Amid Wildfire Threats

NHL’s Kings and NBA’s Lakers have delayed matches as wildfires looms expressing solidarity with affected…

14 hours ago

Ekiti Airport Begins Calibration of Landing Systems as State Prepares for Commercial Operations

NAMA commences calibration at Ekiti Airport, paving way for commercial flights and boosting economic prospects.

15 hours ago

Trump’s Expansionist Rhetoric Raises Concerns in Europe Ahead of Second Term

Trump’s remarks on expanding US territory to Greenland, Canada, and Panama has stirred unease among…

15 hours ago

Biden Administration Extends Deportation Relief for 900,000 Immigrants From Venezuela, Sudan, El Salvador, Ukraine

Biden’s Administration has extended Temporary Protected Status for immigrants from Venezuela, El Salvador, Ukraine, and…

18 hours ago

Tinubu Celebrates Renowned Historian and Activist, Segun Osoba At 90

President Tinubu has congratulated Segun Osoba on his 90th birthday, commending his contributions to scholarship,…

19 hours ago

Minister Onyejeocha Assures Abia of Tinubu’s Commitment to Addressing National Challenges

Minister Onyejeocha has reassured Abia residents about Tinubu's strategies for addressing hunger, unemployment, and empowering…

19 hours ago