CITIZENS COMPASS – 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 into this key leadership role, Mr. Ebenezer Olufowose has been appointed as the new Chairman. Olufowose, who joined the FirstBank Board as a Non-Executive Director in April 2021, brings a robust portfolio of experience spanning over three decades in the financial sector.

Prior to his new role, he served as the Group Managing Director of First Ally Capital Limited, a notable investment banking firm in 

Prior to his new role, he served as the Group Managing Director of First Ally Capital Limited, a notable investment banking firm in Lagos.

Odukale’s exit also follows that of the former Managing Director of First Bank Ltd Adesola Adeduntan who also resigned following attaining the maximum tenure limit for the bank.

Tunde Hassan-Odukale joined the Board of First Bank 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 characterized by strategic leadership and substantial contributions to the bank’s growth and stability.
• Prior to 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.