Our reporte
First Bank of Nigeria (FBN) has dismissed approximately 100 senior staff members as part of a major organisational restructuring. This decision follows the appointment of Olusegun Alebiosu as the bank’s new Managing Director and CEO in June.
The move, reported by Nairametrics on Monday, is said to be part of a broader strategy led by the bank’s Chairman, Femi Otedola, to revitalise its leadership structure. Sources indicate that the shake-up aims to introduce new talent into key positions, aligning with the bank’s future growth plans.
While many of the dismissed staff members were let go as part of the restructuring, some senior executives reportedly chose to leave voluntarily, seeking new opportunities. Additionally, one high-ranking executive director’s contract was not renewed by mutual agreement, marking another significant change within the institution’s leadership team.
The restructuring marks a pivotal moment for First Bank as it seeks to navigate the challenges of the evolving banking landscape in Nigeria.
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