First Bank Undertakes Major Restructuring, 100 Senior Staff Members Depart.
In a significant move aimed at repositioning the bank for future growth, First Bank, Nigeria’s oldest banking institution, has exited approximately 100 senior staff members.
According to sources with direct knowledge of the matter, the departures are part of a comprehensive organisational shakeup, driven by the bank’s holding company, FBN Holdings, led by Chairman, Femi Otedola.
The restructuring effort is reportedly designed to inject fresh talent into key leadership positions, aligning with the bank’s strategic objectives for 2025. Several top executives have been asked to leave as part of this repositioning plan.
This major overhaul is seen as a proactive measure to ensure the bank remains competitive in Nigeria’s rapidly evolving financial landscape. By streamlining its operations and introducing new leadership, First Bank aims to reinforce its position as a leading banking institution in the country.
Further details regarding the restructuring plan and the appointment of new executives are expected to be announced in due course.
