FirstBank, Nigeria’s oldest financial institution and a subsidiary of FBN Holdings, has made sweeping changes to its leadership structure, letting go of nearly 100 senior executives.
Insiders familiar with the situation reveal that the move is part of a broader strategy to reposition the bank for growth ahead of 2025. Among those affected are several top executives, marking a significant restructuring effort led by the bank’s board chairman, Femi Otedola.
Sources say the reshuffle aims to inject fresh perspectives into key leadership roles. Some of the departures were reportedly voluntary, with senior staff opting to pursue new career paths. Notably, an executive director’s exit was described as the result of a mutually agreed decision.
The restructuring follows the appointment of a new Managing Director and CEO, signaling a renewed focus on aligning leadership with the bank’s strategic goals.
FirstBank has been undergoing extensive changes since Otedola took over as chairman, as the organization positions itself for a more competitive future in Nigeria’s banking sector.
