Adesola Adeduntan, the Managing Director of First Bank Nigeria Limited, has announced his resignation after leading the institution for eight years.

In a letter addressed to the Chairman of First Bank, Tunde Hassan-Odukale, titled ‘Notice of Retirement,’ Adeduntan, whose tenure was set to end on December 31, 2024, has voluntarily stepped down, commencing his pre-retirement leave immediately.

Adeduntan, who took on the role of CEO on January 1, 2016, cited his desire to pursue other interests as the reason for his departure.

The boards of FBN Holdings Plc and First Bank respectively accepted his resignation and expressed gratitude for his service to the financial institution.

Adeduntan's resignation comes after a tenure marked by significant transformations and achievements, positioning First Bank as a leading financial institution in Nigeria.

Despite challenges, he leaves with appreciation for the support received and wishes the institution continued success in its evolution.

Adeduntan's career in banking and finance, spanning over three decades, has been distinguished by various recognitions and awards.