Dr. Julius B. Omodayo-Owotuga has emerged as a reported candidate to succeed Olusegun Alebiosu as Managing Director and Chief Executive Officer of First Bank of Nigeria Limited when Alebiosu’s tenure ends in 2026.
According to a report published by News Platform on September 14, 2026, FirstBank Chairman, Femi Otedola, has introduced Omodayo-Owotuga to the bank’s board and is backing him for the top executive position.
Alebiosu, who attained the mandatory retirement age of 60 in August, is expected to leave the position at the end of the year, paving the way for a new managing director, subject to the required regulatory and corporate approvals.
Omodayo-Owotuga joined FirstBank’s executive management in May 2026 as Executive Director, Strategy and Corporate Transformation. He is described as a finance, governance, enterprise management and business transformation specialist with more than 24 years of experience across banking, financial services, infrastructure finance, power, oil and gas, audit and consulting.
Before joining FirstBank, he served as Deputy Chief Executive of Geregu Power Plc, where he was involved in the company’s strategic transformation following the partial privatisation of Nigeria’s power sector.
During his time at Geregu Power, Omodayo-Owotuga contributed to strengthening corporate governance, improving operational efficiency, driving enterprise transformation and supporting major capital-raising initiatives. He was also involved in the company’s listing on the Nigerian Exchange.
Earlier in his career, he served as Group Executive Director, Finance and Risk Management at Forte Oil Plc, now Ardova Plc. In that role, he worked on balance-sheet restructuring, capital optimisation, enterprise risk management and other strategic initiatives aimed at improving the company’s financial and operational performance.
His professional experience also includes positions at Africa Finance Corporation, Standard Chartered Bank, KPMG Professional Services and MBC International Bank, now FirstBank. These roles exposed him to institutional finance, treasury management, financial controls, regulatory matters and corporate advisory.
Omodayo-Owotuga holds a Bachelor’s degree in Accounting, a Master’s degree in Business Administration with distinction, and a Doctorate in Business Administration.
He is also an alumnus of Saïd Business School at Oxford University, IE Business School in Madrid, Geneva Business School and the University of Lagos.
The banker is a CFA Charterholder, Chartered Management Accountant and Fellow of the Institute of Chartered Accountants of Nigeria, the Chartered Institute of Taxation of Nigeria and the Institute of Credit Administration. He is also a member of the Institute of Directors, Nigeria.
If appointed and approved, Omodayo-Owotuga would take over the leadership of FirstBank following Alebiosu’s departure.
He is married to Adeferowaye, and they have three sons. His interests include tennis, mentoring professionals and football.
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