First Bank Appoints Oluseyi Popoola Oyefeso as Gbenga Shobo Retires Following CBN Tenure Limits

In accordance with the new directive of the Central Bank of Nigeria (CBN) that recently capped the cumulative tenure of bank executives at 20 years across the banking industry, Mr. Gbenga Shobo, the Deputy Managing Director, has resigned his position with the bank.

According to FBN Holdings Plc, the parent company of First Bank of Nigeria, the retirement comes before Gbenga’s official retirement due on June 2, 2023 and is in line with CBN’s February 24, 2023 circular on Tenure of Directors.

While the board appreciates Gbenga’s contributions over the years, it has appointed Mr. Oluseyi Popoola Oyefeso as Executive Director, Retail Banking Directorate, South, Subject to the approval of the CBN.

Profile of Oluseyi Popoola Oyefeso

Until this appointment as Executive Director, Retail Banking South Directorate, Oluseyi Popoola Oyefeso was Group Executive, Retail Banking South Division and before then, Group Executive, Commercial and Retail Banking, Lagos and West Division. He was previously Country Managing Director, FBN Bank Ghana Limited. He is a result oriented executive with over 25 years experience in the Banking and Financial Services industry.

Seyi is a multi-skilled professional with very robust banking experience, proven problem-solving and strong leadership skills.

He is a competent leader, a team player and has over the years demonstrated the ability to develop positive business relationships, evidenced by remarkable track record of business growth. A seasoned banker and Chartered Accountant, Seyi started his banking career in January 1993 and has acquired extensive knowledge in Retail, Corporate & Commercial Banking, Credit Risk Management (Analysis & Administration) and Financial Control.

Seyi joined the Bank in 2006 as a Branch Manager of one of the top three branches and has held several positions, including Business Development Manager, Group Heads Retail Banking and Institutional Banking (Services & Conglomerates). A graduate of Accounting and a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Seyi is also an Associate of the Chartered Institute of Taxation in Nigeria.