Home African CEOs Meet Gbenga Shobo, FirstBank’s new Managing Director/CEO
African CEOs - Appointments - April 29, 2021

Meet Gbenga Shobo, FirstBank’s new Managing Director/CEO

First Bank of Nigeria Limited yesterday notified its stakeholders and the general public about the appointment of Mr Gbenga Shobo as its new Managing Director/Chief Executive Officer. His appointment took effect on Wednesday April 28th, 2021.

Prior to this time, Gbenga Shobo was the Deputy Managing Director of the tier-1 Nigerian bank.  Following the appointment, he took over from Sola Adeduntan, the former CEO who is set to retire from the bank in accordance with the bank’s term limit for its Chief Executives. Note that Adedutan has led the bank since January 2016.

A corporate action by FirstBank summarised Mr Shobo’s previous accomplishments. Apparently, he joined the leading bank in 2006 and by 2012, he had been appointed to the bank’s Board of Directors. He then held numerous important positions in the bank, including his role as the Executive Director in charge of retail banking/public sector businesses.

Previously, worked with PwC as an external auditor and tax consultant. He was also the Divisional Head (Corporate Banking Division) at MBC International Bank Ltd as well as the General Manager (Corporate/Commercial Banking) at FBN Merchant Bank Limited.

While commenting on Gbenga Shobo’s appointment as the new MD/CEO, FirstBank’s Chairman Mrs Ibukun Awosika, said the Board is confident that he would contribute towards the company’s growth.

”Gbenga has had a successful career in the Bank and elsewhere, culminating in his appointment as Deputy Managing Director (DMD), in 2016 Prior to his appointment as DMD, he was the Executive Director Overseeing the retail Banking /Public Sector in the Lagos and west Directorate an was hitherto the Executive Director overseeing the Retail Business in the South Directorate.

”As part of his responsibilities for Retail Banking, he has been instrumental in developing and growing the bank’s agency banking business, which today, is the market leader in Agency Banking, leveraging partnerships and best-in-class technology and bringing banking services to millions of unbanked and underbanked customers in Nigeria and across various countries where we operate through our African Subsidiaries

”The Board is confident that Gbenga has the experience and understanding of the bank and the know-how to lead the bank through this next phase of growth, which is focused on positioning First Bank as the pre-eminent bank in our chosen markets, delivering value to our stakeholders,” Mrs Awosika said.

Meanwhile, the corporate action by the company also announced other appointments within the company. One of them is the appointment of Mr Abdullahi Ibrahim as the new Deputy Managing Director. Mr Segun Alebiosu, Mr Ini Ebong, Mr Seyi Oyefeso, and Mrs Bashirat Odunewu were also appointed as Executive Directors.


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