Tunde Hassan-Odukale has stepped down as the Chairman of First Bank of Nigeria Limited. Updating the Nigerian Exchange Group of recent development within the bank, the company’s Secretary, Adewale Arogundade, in a notice on Thursday, said Hassan-Odukale’s exit followed the completion of the cumulative number of years, which is 12 years for a non-executive director, in line with the Central Bank of Nigeria’s Corporate Governance Guidelines.
Hassan-Odukale, who joined the Board of First Bank of Nigeria Limited as a Non-Executive Director in 2011, is the Managing Director of Leadway Assurance Company Limited. “Consequently, the Board of FirstBank has appointed Mr Ebenezer Olufowose, a Non-Executive Director, as the new Chairman of the Board of Directors of First Bank of Nigeria Limited,” the notice partly read.
Olufowose, who joined the FirstBank Board as a Non-Executive Director in April 2021, brings a robust portfolio of experience spanning over three decades in the financial sector. Prior to his new role, he served as the Group Managing Director of First Ally Capital Limited, a notable investment banking firm in Lagos.
Odukale’s exit also follows that of the former Managing Director of First Bank Ltd Adesola Adeduntan who also resigned following attaining the maximum tenure limit for the bank. His tenure as Chairman is characterized by strategic leadership and substantial contributions to the bank’s growth and stability.
Before his involvement with FirstBank, Ebenezer Olufowose had significant roles at other prestigious institutions. He was an Executive Director at Access Bank Plc and Citibank Nigeria, where his responsibilities included leading the origination, structuring, and execution of significant corporate finance and investment banking transactions across Nigeria.
Olufowose embarked on his banking career in 1985 at NAL Merchant Bank Plc, contributing to the Corporate Planning and Finance Departments. His academic credentials include a first-class honours degree in Economics from the University of Lagos and an MA in International Economics from the University of Sussex, England.
Olufowose’s extensive training includes programs at globally recognized institutions such as the Institute of Management Development in Switzerland, Harvard Business School in the USA, and INSEAD in Singapore. He holds the distinction of being an alumnus of both the Harvard Business School and the Lagos Business School.
His professional memberships include honorary senior membership of the Chartered Institute of Bankers of Nigeria, and fellowships with the Institute of Credit Administration and the Association of Investment Advisers and Portfolio Managers.
