First HoldCo Plc has announced the appointment of Dr. Julius B. Omodayo-Owotuga as Executive Director at First Bank of Nigeria Limited, effective May 13, 2026, in a strategic move to enhance leadership in finance, governance, risk management, and institutional transformation. The appointment, approved by the Central Bank of Nigeria, was confirmed in a statement signed by the Group Company Secretary, Abiola Baruwa. This development underscores the bank’s commitment to strengthening its operational framework and ensuring sustainable growth in Nigeria’s evolving financial landscape.
Dr. Omodayo-Owotuga, widely recognized as Dr. JB in financial and corporate circles, previously served as a Non-Executive Director on the board of First HoldCo Plc from 2021 to 2026. His new role as Executive Director is expected to bring deep expertise in governance, financial resilience, and strategic execution to First Bank. The banking group emphasized that his appointment aligns with its broader goals of improving operational efficiency and reinforcing long-term institutional stability.
Before joining First Bank, Dr. Omodayo-Owotuga held the position of Deputy Chief Executive Officer at Geregu Power Plc, where he played a pivotal role in the company’s institutional transformation and capital market positioning. He led key initiatives in governance strengthening, operational optimization, and financing, including the company’s successful listing on the Nigerian Exchange. His experience in driving financial and operational reforms in the power sector adds significant value to First Bank’s strategic direction.
Earlier in his career, he served as Group Executive Director, Finance and Risk Management at Ardova Plc, formerly Forte Oil Plc. In that role, he spearheaded strategic restructuring, treasury optimization, enterprise risk management, and capital raising programs aimed at enhancing shareholder value. His tenure at major institutions such as Africa Finance Corporation, Standard Chartered Bank, KPMG, and MBC International Bank—now First Bank of Nigeria Limited—has provided him with a broad and diverse foundation in banking and financial services.
At Africa Finance Corporation, Dr. Omodayo-Owotuga was part of the pioneer team that built the institution’s financial operations, treasury systems, and control frameworks. He also contributed to major funding transactions and strategic financial partnerships. His career spans over 24 years, covering banking, infrastructure finance, power, oil and gas, audit, and consulting sectors.
Dr. Omodayo-Owotuga holds a Doctorate in Business Administration, an MBA with distinction, and a Bachelor’s degree in Accounting. He is a CFA Charter Holder, Fellow of the Institute of Chartered Accountants of Nigeria, Fellow of the Chartered Institute of Taxation of Nigeria, and Fellow of the Institute of Credit Administration. He is also a member of the Institute of Directors Nigeria and a Certified Management Accountant. His academic background includes institutions such as Saïd Business School, University of Oxford, IE Business School, Geneva Business School, and the University of Lagos.
Industry analysts note that this appointment comes at a critical time as Nigerian financial institutions focus on strengthening governance and repositioning balance sheets to meet upcoming regulatory and capital requirements. The leadership transition at First Bank is expected to play a key role in shaping the future of the Nigerian banking sector.
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