The board of First Bank Nigeria Plc has approved the appointment of Mr. Stephen Olabisi Onasanya as the bank’s chief executive. He replaces Sanusi Lamido Sanusi who has left the bank for the CBN’s top job. Prior to this appointment, Onasanya was the Executive Director, Banking Operations & Services. He had earlier served as the Managing Director/Chief Executive Officer of First Pension Custodian Nigeria Limited, a wholly-owned subsidiary of First Bank of Nigeria Plc.


A fellow of the Institute of Chartered Accountants of Nigeria and an Associate Member of the Nigeria Institute of Taxation, he has over 23 years post qualification experience. Onasanya started his banking career as a senior accountant with Wema Bank in 1985. He joined First Bank of Nigeria Plc in 1994 as a Senior Manager and held several positions. He was Deputy General Manager and Group Head, Finance and Performance Management Department, as well as Coordinator, Century 2 Enterprise Transformation Project, before his appointment as MD/CEO of First Pension Custodian Nigeria Limited in 2005.