First Bank of Nigeria Limited has announced a major strategic enhancement to its executive leadership team following the official clearance of Dr. Julius B. Omodayo-Owotuga as an Executive Director. Appointed on Wednesday, May 13, 2026, his inclusion on the board has been formalized through regulatory approval from the Central Bank of Nigeria (CBN) and an investor notification filed with the Nigerian Exchange (NGX) Limited.
The strategic transition moves Omodayo-Owotuga from his previous five-year tenure as a Non-Executive Director at the parent entity, FBN Holdings Plc (2021–2026), directly into the core operational driving seat of the banking subsidiary.
An Industrial and Capital Market Veteran Omodayo-Owotuga steps into the executive role backed by a 24-year corporate track record cutting across energy, project finance, advisory, and complex treasury management. His prominent corporate milestones include:
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Geregu Power Plc: Serving as Deputy Chief Executive, he masterminded the internal operational optimization, corporate restructuring, and capital market positioning that enabled the power firm’s landmark listing on the NGX.
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Forte Oil Plc (now Ardova Plc): As Group Executive Director of Finance & Risk Management, he orchestrated multi-billion naira debt capital raises, structural asset divestments, and enterprise risk models that revitalized long-term shareholder value.
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Multilateral & Institutional Finance: His career footprint spans foundational financial control roles at the Africa Finance Corporation (AFC), project execution at Standard Chartered Bank, and structural auditing at KPMG Professional Services.
Strengthening the Institutional Core FirstBank stated that the appointment is aimed at sharpening the institution’s oversight across strategic finance, risk frameworks, asset protection, and deep corporate transformation.
Omodayo-Owotuga holds an academically elite profile, possessing a Doctorate in Business Administration, an MBA, and a primary degree in Accounting. He is an alumnus of Saïd Business School (University of Oxford), IE Business School, and the University of Lagos. Professionally, he is a CFA Charterholder, an alumnus of the KPMG training system, and a Fellow of both the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Taxation of Nigeria (CITN).
This appointment aligns with a high-conviction market move by billionaire investor Femi Otedola, who amplified his influence in the tier-1 financial group through a massive ₦43.4 billion share acquisition executed via Calvados Global Services Limited during the same trading cycle.
