• Saturday, May 25, 2024
businessday logo


Hassan-Odukale retires as Chairman of First Bank after 12 years


FBN Holdings Plc, the largest banking and financial holding company in Africa, has announced the retirement of Tunde Hassan-Odukale as the chairman of its flagship subsidiary, First Bank of Nigeria Limited after 12 years.

According to the statement, the retirement follows the cumulative number of years for a non-executive director to end its tenure, according to the corporate governance guidelines of the Central Bank of Nigeria (CBN).

“Consequently, the board of FirstBank has appointed Ebenezer Olufowose, a non-executive director as the new chairman of the board of directors of First Bank of Nigeria Limited,” the statement said.

Olufowose joined the board of directors of First Bank of Nigeria Limited on April 29, 2021. He is the group managing director for First Ally Capital Limited, an investment banking firm in Lagos.

“He started his banking career in 1985 at NAL Merchant Bank Plc (NAL), working at the corporate planning and finance department and has over 36 years working in the financial services industry, ” the statement said.

Olufowose was the executive director of Access Bank and Citi Bank of Nigeria before joining the FirstBank board. He brings skills from corporate finance, project finance and investment banking.

“His academic experience includes a first-class honors degree in Economics from the University of Lagos and an MA in International Economics from the University of Sussex, England. He has attended training programs at the Institute of Management Development in Switzerland, Harvard Business School in the USA, and INSEAD in Singapore,” the statement said.

As he takes up the new role, his 22 years of experience in the banking sector and proven track record as 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 Association of Investment of Advisers and Portfolio manager would contribute to the continued growth and success of the company.