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First Bank confirms appointment of Alebiosu as MD

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FBN Holdings Plc has confirmed the appointment of Mr Olusegun Alebiosu as substantive Managing Director/Chief Executive Officer of First Bank of Nigeria Ltd, (FirstBank), one of its flagship subsidiary.
Mr Adewale Arogundade, Acting Company Secretary of the Holdings, announced this in a disclosure sent to the Nigerian Exchange Ltd.(NGX), on Wednesday in Lagos.
Arogundade said that the approval of  the substantive appointment of Alebiosu by the Bank’s Board of Directors was subject to the approval of the Central Bank of Nigeria(CBN)
The News Agency of Nigeria(NAN) reports that the Board of FBN Holdings on April 21 appointed Alebiosu as the acting managing director/CEO of First Bank.

His appointment followed a sudden resignation of Dr Adesola Adeduntan, the former managing director/CEO of the bank, effective  April 20, ahead of his official retirement.

Additionally, Arogundade said that the Bank’s Board also approved the appointment of Mr Ini Ebong as the Deputy Managing Director of FirstBank, subject to the approval of the CBN.
The company secretary stated that First Bank further approved the appointment of Mr Alao Olatunde-Olaifa as Non-Executive Director of FirstBank, subject to the approval of the CBN.
Before his appointment, Alebiosu was previously Executive Director, Chief Risk Officer and Executive Compliance Officer of the bank, from January 2022 until April 20.
He was, before then, the Group Executive/ Chief Risk Officer of the bank since 2016.
Alebiosu brings to the executive management of First Bank over 28 years’ experience in the banking and financial services industry with cross-functional exposure to credit risk management, financial planning and control.
He also has experience in credit and marketing, trade, corporate and commercial banking, agriculture financing, oil and gas, transportation, including Aviation and Shipping and Project financing.
Prior to joining First Bank in 2016, Alebiosu served as Chief Risk Officer at Coronation Merchant Bank Ltd., Chief Credit Risk Officer at African Development Bank Group and Group Head, Credit Policy, and Deputy Chief Credit Risk Officer at United Bank For Africa Plc.
Alebiosu is an alumnus of Harvard Business School and Harvard School of Government.
He holds a Bachelor’s degree in Industrial Relations and Personnel Management, and also a Master’s degree in International Law and Diplomacy from the University of Lagos.
Alebiosu obtained a master’s degree in Development Studies from the London School of Economics and Political Science, and completed Advanced Management Program (AMP) at Harvard Business School.
He is a member of various professional bodies namely: Fellow, Institute of Chartered Accountants (FCA), Associate, Nigeria Institute of Management (ANIM), Chartered Institute of Bankers of Nigeria (CIBN) and Member, Nigeria Institute of International Affairs.
On his part, Ebong, prior to his appointment, was the Executive Director, Treasury and International Banking of First Bank, since January 2022.
He was previously the Group Executive, Treasury and International Banking, a position he held since 2016 after serving as the Bank’s Treasurer from year 2011 to 2016.
Ebong brings to FirstBank over 20 years’ extensive banking experience, working through a wide variety of trading roles across most Treasury products, Asset and Liability management, Treasury sales and marketing, as well as Treasury risk management.
Before joining FirstBank, he was the Head of African Fixed Income and Local Markets Trading, Renaissance Securities Nigeria Ltd., the Nigerian registered subsidiary of Renaissance Capital.
He also worked with Citigroup for 14 years as Country Treasurer and Sales and Business Head, and has passion for market development.
Also, Alao-Olaifa has extensive experience cutting across the corporate Finance spectrum, including Capital Raising, Deal Structuring, Debt Restructuring, Acquisition Planning, Project Financing and Asset Management.
He is currently the Group Chief Financial Officer/Strategy and Principal Investment at Leadway Holdings with responsibilities covering strategy, corporate finance and principal investment across the group and geographies.
He also sits on the Boards of C&I Leasing Plc and Leadway Pensure PFA.
Alao-Olaifa had previously worked with Lionstone Group as an Associate, Investment Banking and Fidelity Bank Plc as an Assistant Manager in the Corporate Banking division, where he managed blue chip clients.(NAN
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Zamfara central urges Yazeed Danfulani to run for senate in 2027

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A coalition of civil society organisations in Zamfara Central has publicly called on philanthropist Yazeed Danfulani to contest for the senatorial seat in the National Assembly in the 2027 elections, citing his extensive humanitarian contributions and commitment to community development.

In a statement released on Sunday, the group’s spokesperson, Nuraddeen Garba Gusau, emphasised that the growing support for Danfulani transcends mere political sentiment.

“This is about Yazeed Danfulani’s proven dedication to the welfare of our people, demonstrated consistently without ever holding elected office,” Gusau said.

Danfulani, a prominent figure in Zamfara Central, has earned widespread admiration for his charitable initiatives.

He has funded the education of numerous children, offering opportunities to those who previously faced bleak prospects.

” His generosity also extends to providing financial and material aid to the less fortunate, helping families meet their basic needs.”

He said “Beyond individual support, Danfulani has bolstered small-scale entrepreneurs by distributing cars, tricycles, and financial capital, enabling many to achieve self-reliance.

“His efforts have significantly improved livelihoods across the region. Additionally, as a key supporter of the All Progressives Congress (APC) in Zamfara, Danfulani has played a vital role in strengthening the party’s unity and presence in the state.

The coalition believes Danfulani’s track record as a private citizen is a testament to his potential as a legislator.

“His selfless contributions are merely a glimpse of what he could achieve with the authority to legislate and attract development at the national level,” Gusau added.

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Kaduna: Group calls EFCC, National Assembly, Kaduna state government’s intervention on alleged diversion of public funds

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By Amos Tauna, Kaduna

The Executive Director of a non-governmental organization, Eagle Brain Youth Transformative and Development Initiative (EBYTDI), Mr Daniel Ejembi, has called on the Economic and Financial Crimes Commission (EFCC), the National Assembly and Kaduna state government to intervene on alleged hijacking of a federal constituency project intended for public schools in Dokan Mai Jama’a, Chikun Local Government Area of Kaduna State.

A statement issued by the Executive Director described the alleged diversion of the public resources to a private entity is a grave injustice to the children of Dokan Mai Jama’a.

According to him, “This diversion of public resources to a private entity is a grave injustice to the children of Dokan Mai Jama’a. We demand swift intervention by the Kaduna State Government, the Economic and Financial Crimes Commission (EFCC), and the National Assembly to recover misused funds and prioritize education for all.”

The statement stated that investigation reveals that a federal project sponsored by Yakubu Umar Barde, former member representing Chikun/Kajuru Federal Constituency, was alleged to have been unlawfully diverted to Fatima Academy, a private school owned by Abdulhadi Abubakar.

Ejembi explained, “The project, initially earmarked for constructing a public school, was instead executed at Fatima Academy, which lacks registration with the Corporate Affairs Commission (CAC).”

He added that the contractor, Amrah Farms Nigeria Limited (RC-1523474), with directors including Abdulyekin Bello Tahir and Bello Halimat Sadiq, executed the project in violation of its original mandate, lamenting that public schools in Dokan Mai Jama’a faced severe deficits, including dilapidated classrooms, lack of sanitation facilities, and inadequate learning resources, exacerbating educational inequalities.

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The Executive Director called for immediate probe into the alleged diversion of funds by relevant anti-corruption agencies and also called for urgent construction and renovation of classrooms, toilets, and perimeter fencing in the public schools.

He also appealed for the provision of desks, learning materials, and safe water systems for students and advised for legal action against unregistered institutions like Fatima Academy and accountability for involved parties.

 

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BREAKING: Pope Francis Dies At 88

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Catholic Pontiff, Pope Francis, has died at the age of 88, the Vatican announced on Easter Monday morning.

Late Pope had been in and out of hospital in the last few weeks. He made a surprise appearance at the Easter Sunday service at Vatican on Sunday.

Details Later…

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