2023 economic outlook webinar, First Bank

The Board of the First Bank of Nigeria Holdings (FBNH) has approved the appointment of Mr. Samson Oyewale Ariyibi as Executive Director, Investment Management and Oversight FBN Holdings Plc.

Also, the Board approved the appointment of Mr. Patrick Iyamabo as Executive Director/Chief Financial Officer of its flagship subsidiary, First Bank of Nigeria Limited.

Both appointments are subject to the approval of the Central Bank of Nigeria (CBN) and the shareholders at the next Annual General Meeting of the company.

Profile of Oyewale Ariyibi

Ariyibi is an award-winning professional with about 32 years’ work experience spanning banking and allied financial services, business assurance, tax management and consulting having served in senior management roles at various global organisations and Nigerian companies including Ernst & Young (EY), PricewaterhouseCoopers, Standard Chartered Bank and Transnational Corporation of Nigeria Pie (Transcorp) where he was the Chief Financial Officer prior to joining FBN Holdings Plc (FBNH).

The new Executive Director, according to the notice sent to the Nigerian Exchange Limited (NGX) and signed by the Acting Company Secretary, Mr. Adewale Arogundade, joined FBNH on September 30, 2013 as the pioneer Head of Finance.

He was promoted to General Manager (GM) and appointed as the Chief Financial Officer (CFO) in 2016.

Arogundade said the new ED has “demonstrated an extreme sense of responsibility and diligence in contributing to the success of FBNH leveraging on his core competencies in strategy and corporate planning, capital management, financial accounting, regulatory reporting, operational risk management, compliance, business assurance amongst others.”

Ariyibi holds a Bachelor’s degree (Second Class Honours Upper Division) in Microbiology from University of Ilorin and a Master of Business Administration (MBA) – Marketing from University of Lagos.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA), Associate of the Chartered Institute of Taxation (AGIT), the Certified Pension Institute of Nigeria (ACiP) and the Institute of Directors (IOD) of Nigeria.

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He is an alumnus of the Advanced Management Programme of the Kellogg School of Management at Northwestern University and has attended several local and international workshops, conferences and executive training programmes.

Profile of Patrick Iyamabo

Iyamabo is the Chief Financial Officer of First Bank of Nigeria Limited (”FirstBank”) and its subsidiaries.

Prior to joining FirstBank in 2016, he was Senior Vice President of Strategy and M&Aat First City Monument Bank Limited, and then the Group Chief Financial Officer of FCMB Holdings Plc.

Patrick has over 27 years professional experience in assurance, risk management, business development, accounting and finance with Nigerian and multinational institutions both within and outside the country.

Patrick also worked at Arthur Andersen (AA) as auditor and strategy consultant, where he was also a co-founding member of the Information Risk Management practice of AA.

At various times, Patrick worked with Boaz Allen Hamilton in New York and LEK Consulting in Boston, providing strategic management and specialized corporate finance services to private and listed corporations.

Earlier in his career, he also worked with Pfizer in Lagos and New York.

Patrick holds a Bachelor of Pharmacy (B. Pharm) from the Ahmadu Bello University and a Master of Business Administration (MBA) with dual majors in Finance and Strategic Management from The Wharton School, University of Pennsylvania. He has also attended specialized programmes at the Harvard Business School and The Wharton School.

Patrick is a Fellow, Institute of Chartered Accountants of Nigeria (FCA); Fellow, Chartered Institute of Taxation of Nigeria (FCITN); Member, Pharmaceutical Society of Nigeria; Honorary Senior Member, the Chartered Institute of Bankers of Nigeria (HCIB); and Member, Institute of Directors of Nigeria (M.IoD).

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