FirstBank MD, CEO Adeduntan steps down

Mr. Adesola Adeduntan, the managing director of First Bank of Nigeria Limited, has resigned his appointment from the company after nine years of holding the top executive position.

Mr. Adeduntan, who was due to retire in December, joined FirstBank in 2014, first as a chief financial officer and as an executive director.

“As you are aware, my contract would be expiring on 31 December, 2024 after which I would no longer be eligible for employment within the bank, having served as the Managing Director/Chief Executive Officer of FirstBank for a record time of nine years,” Adeduntan said in a letter addressed to Tunde Hassan-Odukale, the bank’s board chairman.

“I have, however, decided to proceed on retirement with effect from 20 April 2024 to pursue other interests,” he added.

Mr. Adeduntan’s career trajectory spans several years and he had served at the Africa Finance Corporation as the pioneer chief financial officer/ business manager, as well as a director. His range of expertise covers investment finance, commercial and investment banking, consulting and audit.

He was also once a senior manager at KPMG, an auditing and professional services firm and held the role of Senior vice president & chief financial officer at Citibank Nigeria Limited.

A 1992 graduate of veterinary medicine from the University of Ibadan, Mr. Adeduntan holds a Doctor of Science, Honoris Causa, from Cranfield University, UK, in addition to an MBA from the same institution.


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