Strength & Stability in Uncertain Times
Annual Report & Accounts 2009
Introduction
Board of Directors
Chairman
Dr. Mutallab is a Fellow of the Association of Chartered and Certified Accountants (FCCA), Institute of the International Bankers Association (FIBA, USA), the Institute of Bankers and the Institute of Chartered Accountants of Nigeria (FCA).
A versatile professional and businessman, he was a Federal Minister of Economic Development & Reconstruction, Executive Chairman & Managing Director of United Bank for Africa (UBA) and Chairman of the National Electric Power Authority (NEPA). He is Group Chairman of First Bank of Nigeria Plc, Chairman of the Vision 2020 Business Support Group, and Chairman, Spring Waters Nigeria (SWAN) Limited, amongst others.
Group Managing Director/Chief Executive Officer
Mr. Onasanya has over 23 years post-qualification experience and until his appointment as Group Managing Director/Chief Executive Officer, was Executive Director, Banking Operations and Services. He joined FirstBank in 1994 as a Senior Manager and was previously Deputy General Manager/Group Head, Finance & Performance Management Department, Coordinator, Century 2 Enterprise Transformation Project, as well as founding MD/CEO of First Pension Custodian Nigeria Limited, a subsidiary of FirstBank.
A qualified Chartered Accountant since 1983, Mr. Onasanya is a Fellow of the Institute of Chartered Accountants of Nigeria, an Associate Member of the Nigerian Institute of Taxation, and honorary member of the Chartered Institute of Bankers of Nigeria. He is also the Chairman of Kakawa Discount House Limited and a Director of FBN Bank (UK) Limited.
Executive Director, Lagos
Mrs. Adesola holds a law degree from the University of Buckingham, UK. She was called to the Nigerian bar in 1985 and has attended numerous executive development courses in Nigeria and overseas. She is also an alumni of the Harvard Business School, having completed the Advanced Management Programme.
She spent nine years at Citibank Nigeria (NIB) and was part of the start-up team for Citibank Tanzania, where she served for two years as pioneer Treasurer. Before her current appointment she was Executive Director, Corporate Banking. A seasoned banker, Adesola was MD/CEO of Kakawa Discount House Limited. She is also a Director of FBN Capital Limited, First Trustees Limited and Seawolf Limited.
Executive Director, West
Mr. Lawanson holds a BSc in Estate Management from the University of Nigeria, Nsukka and an MBA in Finance from the University of Lagos. A chartered surveyor, Lawanson's experience spans over 19 years in banking, with executive management positions in investment and commercial banking in several banks. He was formerly Executive Director, Lagos & West.
Lawanson, a consummate professional, has attended various training programmes in top-rated business schools and prior to joining the Board of FirstBank, was Deputy General Manager/Group Head, National Corporates in the then Corporate Banking Directorate. He is a Director of First Registrars Nigeria Limited and FBN Capital Limited.
Executive Director, North
Dr. Ngama obtained his BSc in Accountancy from the University of Maiduguri. He attended the University of Glasgow, UK for his MSc in Accountancy, and the University of Birmingham, UK for Master of Social Science and then a PhD in Money, Banking and Finance. There, he produced the Best PhD thesis in the Faculty of Commerce and Social Sciences, which earned him the coveted Ashley Prize.
Dr. Ngama has served the federal government on many banking reform committees. He was Executive Director, Public Sector at Diamond Bank Plc before joining FirstBank. He is a Director of FBN Mortgages Limited, First Funds Limited and FBN Microfinance Bank Limited.
Chief Risk Officer
Mrs. Odunlami holds a BSc in Mathematics from the University of Warwick, Coventry, England (1982) and is a Fellow of the Chartered Association of Certified Accountants (1995).
She was, until her appointment, Executive Director and Country Risk Manager at Citibank Nigeria Limited with responsibility for the Bank's risk portfolio and process. She had worked extensively in consulting and banking, and was the first Sub-Sahara African female and first Nigerian appointed to the level of Senior Credit Officer within Citigroup. She is a Director of FBN Capital Limited and Seawolf Limited.
Executive Director, South
Dr. Otti graduated from the University of Port Harcourt with a First class honours degree in Economics in 1988. He was the best graduating student in the faculty of Social Sciences and won the Dean's Prize, as well as the overall best graduating student for the year and the University valedictorian. He subsequently received an MBA from University of Lagos in 1994.
Dr. Otti sits on the board of several companies and establishments as follows: Director, Celtel Nigeria Limited (Zain); Director, First Pension Custodian Nig. Limited; Director, Rainbow Town Development Limited; Member, Governing Council of the University of Port Harcourt; Member, Board of Trustees, Babcock University; Chairman, Economics & Statistics Committee of the Lagos Chamber of Commerce & Industry; Member, Board of Trustees, Chike Okoli Foundation. He is also a recipient of the prestigious Ugwu Aro Award of Arochukwu Kingdom.
Chief Financial Officer
Mr. Oyelola holds a BSc Accounting and an MSc specialising in Finance. He is an alumnus of several world-class executive education business schools. Until his appointment as FirstBank's CFO, he was the Executive Director, North.
Oyelola had worked with Arthur Andersen before moving into banking, first with International Merchant Bank (IMB) and Diamond Bank Plc and subsequently with FirstBank. He is a Fellow of the Institute of Chartered Accountants of Nigeria, member of the Chartered Institute of Taxation and an honorary member of the Chartered Institute of Bankers of Nigeria. He is also the Chairman of FBN Microfinance Bank Limited, a Director of FBN Mortgages Limited, First Pension Custodian Nigeria Limited and FBN Bureau de Change Limited.
Non-Executive Director
Prince Ajibola Afonja is a Fellow of the Chartered and Certified Accountants (FCCA). He worked in various capacities such as Audit Trainee with Akintola Williams & Co (Jan–Aug 1966) and with John Mowlem & Co Limited, the 5th largest Construction Group in Europe (1971–74). He was Director/General Manager, International Glass Fibre Industries Limited, Ibadan (1974–79), and Chairman/CEO, Integrated Dimensional System Limited, Oyo.
Prince Afonja's federal government appointments include: Secretary of Labour & Productivity, Interim National Govt (Aug–Nov, 1993) and member, Judicial Commission of Inquiry on Nitel & Mtel.
Non-Executive Director
Ms. Ibiai Ajumogobia is a Human Resources Management and Training Consultant with over 18 years of core HR experience. With a background in Law and Interior Design, she began her career in the Rivers State Ministry of Justice. She also worked with the Federal Ministry of Justice, Shell Petroleum Development Company of Nigeria Limited and Citibank Nigeria.
In 2004, she incorporated The Daisy Management Centre Limited, Lagos (a human capital development firm). Ms. Ajumogobia recently joined the Team-Building Network in the UK, certified to use the Margerison-McCann Team Management Profile. She is also a Member of the Chartered Institute of Personnel Development (CIPD) and recently completed the Management Development Accreditation Programme with the Centre for Management Development (CMD) in Lagos.
Non-Executive Director
Alhaji Alkali holds an MBA from Bayero University, Kano, a Postgraduate Diploma in Public Administration from the Administrative Staff College of Nigeria (ASCON), Badagry and an HND in Business Studies from Kaduna Polytechnic, among other academic qualifications. He is a Fellow of the Institute of Purchasing & Marketing Administration (IPMA), Institute of Corporate Administration (FICA) and Institute of Management Consultants (IMC), as well as a Member of the Nigerian Institute of Management (MNIM).
Alhaji Alkali is currently Group Managing Director/CEO of New Nigeria Development Company (NNDC) Limited, Kaduna. He assumed the position of Managing Director/CEO, Arco Solar Nigeria Limited, Kaduna (1982–1988) and subsequently held several executive management positions in the banking industry. He is Chairman and Director of several companies.
Non-Executive Director
Lt.-Gen. Duba joined the Nigerian Army in 1962 and held various strategic positions including Aide-de-Camp (ADC) to Military Governor, Northern Region; Military Governor, Sokoto State (1986) and Commandant, Nigerian Defence Academy (1992).
He is a farmer, businessman and Chairman, New Nigeria Development Company (NNDC) Limited.
Non-Executive Director
Mr. Otudeko is a Fellow of the Chartered Institute of Bankers, United Kingdom, the Institute of Chartered & Corporate Accountants UK (with honours), and Institute of Chartered Accountants of Nigeria. He is also Associate Member, Institute of Chartered Secretaries and Administrators, UK. He is a seasoned banker and administrator, and has served in various Bankers' Committees.
He is President of The Nigerian Stock Exchange and Chairman of Honeywell Group Limited (comprising about 10 companies). He is Chancellor, Olabisi Onabanjo University, Ago Iwoye and a recipient of an honoris causa doctorate of the University.
Non-Executive Director
Mr. Hassan-Odukale attended the University of Houston, Texas, USA and holds both Bachelors and Master's degrees in Business Administration (Finance).
He is a board member of various companies including Prestige Assurance Plc, Adswitch Plc and Globe Reinsurance Company Limited. He is the Managing Director, Leadway Assurance Company Limited.
Non-Executive Director
Alhaji Mahmoud is a Banking and Management enthusiast with almost 25 years of considerable experience in both domestic and international banking. He holds professional Banking and Accountancy qualifications, and has held various positions in different banks, insurance firms and reputable companies in the country. He was General Manager, United Bank for Africa Plc and Managing Director, African International Bank Limited.