FirstBank’s retired CEO, Adeduntan, gets presidential commendation

Impressed with his exemplary career trajectory and transformative leadership, President Bola Tinubu has congratulated the retired Group CEO/Managing Director of First Bank Nigeria Limited, Dr. Adesola Adeduntan, for his service at Nigeria’s oldest bank.

Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, signed a statement containing the President’s best wishes.

First Bank has scheduled a send-off ceremony this weekend to celebrate Adeduntan’s tenure at the 130-year-old bank, where he was at the helm of affairs for nine years.

Adeduntan announced his immediate resignation in April, just eight months before his term ends on December 31, 2024, Persecondnews recalls.

According to Onanuga, President Tinubu commended Adeduntan for steering the bank through transformative growth, which includes expanding customer accounts from 10 million to over 42 million and elevating Profit Before Tax from N10 billion in 2015 to N300 billion in 2023.

These milestones, the President said, reflected Adeduntan’s visionary leadership and commitment to excellence.

“The President expressed his appreciation for Adeduntan’s willingness to serve the nation in various pivotal roles, including his contributions to the Nigerian Economic Summit Group and other prominent institutions. His extensive expertise in the financial sector has significantly bolstered Nigeria’s economic landscape.

“President Tinubu also lauds the bank’s solid internal management ethos, which is responsible for the seamless transition from Adeduntan to the current CEO, Olusegun Alebiosu,” the statement said.