May 10, (THEWILL) – FBN Holdings has announced that Mr Tunde Hassan-Odukale has officially stepped down as Chairman of FirstBank of Nigeria Limited, following the expiration of his tenure.
This was contained in an official filing of the company, published on the stock exchange website.
His departure marks the end of a 12-year tenure on the board, adhering to the tenure guidelines set by the Central Bank of Nigeria for Non-Executive Directors.
Stepping in is Mr Ebenezer Olufowose, who has been appointed as the new Chairman. He joined the FirstBank Board as a Non-Executive Director in April 2021.
Before his new role, he served as the Group Managing Director of First Ally Capital Limited, a foremost investment banking firm in Lagos.
THEWILL reports that Odukale’s exit follows that of the former Managing Director of FirstBank Ltd, Adesola Adeduntan, who also resigned, after attaining the maximum tenure limit for the bank.
Tunde Hassan-Odukale joined the Board of FirstBank of Nigeria Limited as a Non-Executive Director in 2011. He is the Managing Director of Leadway Assurance Company Limited.
His executive management experience spanning over 22 years includes asset management, finance, IT and life insurance operations.
Mr Tunde Hassan-Odukale has been a notable figure in Nigeria’s financial sector, prominently serving as the Chairman of First Bank of Nigeria Limited.
His tenure as Chairman is characterised by strategic leadership and substantial contributions to the bank’s growth and stability.
Before his role as Chairman, he held various key positions in the financial industry, showcasing a broad understanding of corporate governance and financial management.
He is on the board of directors of various blue-chip companies including First Bank of Nigeria Limited and Digital Jewels Limited.
As the Managing Director of Leadway Assurance Company Limited, he plays a significant role in the insurance industry.
Before his involvement with FirstBank, Ebenezer Olufowose had significant roles at other prestigious institutions.
He was an Executive Director at Access Bank Plc and Citibank Nigeria, where his responsibilities included leading the origination, structuring, and execution of significant corporate finance and investment banking transactions across Nigeria.
About the Author
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
