FBN Holdings Plc has announced the departure of Mr. Tunde Hassan-Odukale as Chairman of its subsidiary, First Bank of Nigeria Ltd., following the completion of his tenure. The Board of First Bank has appointed Mr. Ebenezer Olufowose, a Non-Executive Director, as the new Chairman of the Board of Directors.
The announcement was made by the Company Secretary of FBN Holdings, Adewale Arogundade, in a notification sent to the Nigerian Exchange Ltd. (NGX) in Lagos. Arogundade explained that Hassan-Odukale had completed the maximum tenure of 12 years for a Non-Executive Director, as stipulated by the Central Bank of Nigeria's (CBN) corporate governance guidelines.
Mr. Olufowose joined the First Bank Board on April 29, 2021, bringing over 35 years of experience in the financial services industry. He is currently the Group Managing Director of First Ally Capital Ltd., an investment banking firm in Lagos.
Prior to his appointment at First Bank, Olufowose served as Executive Director at Access Bank Plc and Citibank Nigeria, where he led Citigroup’s corporate finance and investment banking transactions in Nigeria. He began his banking career in 1985 at NAL Merchant Bank Plc (NAL).
Olufowose holds a first-class honours degree in Economics from the University of Lagos and an MA in International Economics from the University of Sussex, England. He has also participated in management and leadership training programmes at prestigious institutions such as the Institute of Management Development in Switzerland, Harvard Business School, and INSEAD Singapore.
He is an alumnus of the Harvard Business School and the Lagos Business School, and a Fellow of the Institute of Credit Administration and the Association of Investment Advisers and Portfolio Managers.
