FirstBank Appoints Dr Julius Omodayo-Owotuga as Executive Director

First Bank of Nigeria Limited, a subsidiary of First HoldCo Plc, has appointed Dr Julius B. Omodayo-Owotuga as Executive Director, effective May 13, 2026. The appointment was disclosed through the Nigerian Exchange and has been approved by the Central Bank of Nigeria.

According to the board, the appointment “reinforces the group’s focus on strong governance, disciplined execution, financial resilience, and sustainable long-term growth across its businesses.” Dr Omodayo-Owotuga brings over 24 years of experience spanning banking, infrastructure finance, power, oil and gas, auditing, and consulting.

A Career Built Across Finance, Energy, and Capital Markets

Dr Omodayo-Owotuga is widely regarded as a turnaround specialist, a reputation built largely from his work at Forte Oil Plc and Geregu Power Plc. At Forte Oil (now Ardova Plc), he served as Group Executive Director, Finance and Risk Management, where he was instrumental in reshaping the company’s financial architecture. He later served as Deputy Chief Executive of Geregu Power Plc, where he was deeply involved in the company’s governance, institutional processes, financing arrangements, and its eventual listing on the Nigerian Exchange.

Before those roles, he accumulated experience at Africa Finance Corporation, Standard Chartered Bank, KPMG Professional Services, and MBC International Bank, which is now First Bank of Nigeria Limited. His work across these institutions covered financial controls, treasury management, regulatory engagement, and advisory functions.

Prior to his current executive appointment, Dr Omodayo-Owotuga served as a Non-Executive Director on the board of First HoldCo Plc between 2021 and 2026, giving him an established familiarity with the group’s strategic direction before stepping into an operational role at the banking subsidiary.

Academic Background and Professional Credentials

Dr Omodayo-Owotuga holds a Bachelor’s degree in Accounting, a Master of Business Administration, and a Doctorate in Business Administration. His executive education spans some of the world’s most respected institutions, including Said Business School at the University of Oxford, IE Business School, Geneva Business School, and the University of Lagos.

On the professional certification side, he is a CFA Charterholder and a KPMG-trained accountant. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a Fellow of the Chartered Institute of Taxation of Nigeria (CITN), and a Fellow of the Institute of Credit Administration. He is also a member of the Institute of Directors (IoD) Nigeria.

Where He Fits in the FirstBank Leadership Structure

Dr Omodayo-Owotuga joins a board chaired by Ebenezer Olufowose. At the executive level, Olusegun Alebiosu serves as Managing Director and Chief Executive Officer, with Ini Ebong as Deputy Managing Director. The executive director team now includes Shehu Aliyu, Oluseyi Oyefeso, Biyi Olagbami, and Dr Omodayo-Owotuga.

The non-executive directors on the board are Wale Oyedeji, Aderemi Lasaki, Tope Omage, Akinwunmi Akinfemiwa, Remilekun Odunlami, and Anil Dua. Mairo Usman Mandara serves as an Independent Non-Executive Director.

What the Appointment Signals for First HoldCo

The appointment arrives as Nigerian banks continue to navigate post-recapitalisation pressures, tightening regulatory requirements, and growing expectations around governance and risk management. Bringing in a figure with Dr Omodayo-Owotuga’s specific blend of capital markets experience, power sector exposure, and financial restructuring credentials signals that First HoldCo is prioritising both resilience and transformation at the board level.

His prior non-executive role within the HoldCo structure also means the transition carries less institutional friction than a completely external hire would. The bank appears to be reinforcing continuity while simultaneously deepening its technical capacity at the executive level.

Frequently Asked Questions

Who is Dr Julius B. Omodayo-Owotuga? Dr Julius B. Omodayo-Owotuga is a Nigerian finance and corporate executive with over 24 years of experience across banking, energy, infrastructure finance, and auditing. He was appointed Executive Director of First Bank of Nigeria Limited, effective May 13, 2026.

What is Dr Omodayo-Owotuga’s role at FirstBank? He has been appointed as an Executive Director at First Bank of Nigeria Limited, a subsidiary of First HoldCo Plc. The appointment has been approved by the Central Bank of Nigeria.

What companies has Dr Omodayo-Owotuga worked for? He has held senior roles at Africa Finance Corporation, Standard Chartered Bank, KPMG Professional Services, MBC International Bank (now First Bank of Nigeria Limited), Forte Oil Plc (now Ardova Plc), and Geregu Power Plc.

What qualifications does Dr Omodayo-Owotuga hold? He holds a Bachelor’s degree in Accounting, an MBA, and a Doctorate in Business Administration. He is a CFA Charterholder, a Fellow of ICAN, a Fellow of CITN, and a member of the Institute of Directors Nigeria. He has also attended executive programmes at Oxford, IE Business School, and Geneva Business School.

Was Dr Omodayo-Owotuga previously associated with First HoldCo? Yes. He served as a Non-Executive Director on the board of First HoldCo Plc from 2021 to 2026 before transitioning to his current executive role at the banking subsidiary.

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