EXCLUSIVE: Behold The Incoming MD/CEO Of First Bank Nig. Plc, "Julius Omodayo-Owotuga", Ph.D.

Dr. Julius Omodayo-Owotuga.

With the expiration of the tenure of the current managing director and chief executive officer of First Bank of Nigeria Plc, Mr. Olusegun Alebiosu, “News PlatformNG” reliably obtained information that the Chairman of the bank, billionaire businessman, Femi Otedola has brought to the board of the bank, Dr. Julius Omodayo-Owotuga, whom this platform is informed is his candidate for the position of MD/CEO when Mr. Alebiosu leaves at the end of 2026. 

Though his tenure expired by age in August after attaining the compulsory retirement age of 60yrs, he would be leaving for the new CEO to assume the position and going by the Central Bank of Nigeria, CBN, Dr. Julius B. Omodayo-Owotuga (JB) who was appointed Executive Director, Strategy and Corporate Transformation at First Bank in May 2026 is the chairman’s candidate for the position. 

He is an accomplished finance, governance, enterprise management specialist and transformation executive with a strong track record of institutional restructuring, capital optimisation, and performance transformation across regulated and capital-intensive sectors.

He brought to the Board of First Bank, over 24 years of experience spanning banking and financial services, infrastructure finance, power, oil & gas, audit and consulting. 

Before this appointment as Executive Director at First Bank, JB served as Deputy Chief Executive of Geregu Power Plc, Nigeria’s first listed power generation company, where he played a key role in the strategic transformation of the business following the partial privatisation of Nigeria’s power sector. 

During this period, the company transitioned from a legacy public-sector structure to a commercially driven, well-governed, and market-facing enterprise. He also played a pivotal role in strengthening corporate governance frameworks, driving enterprise transformation, improving operational efficiency, supporting major capital raising initiatives, and contributing significantly to the company’s landmark listing on the Nigerian Exchange. 

Prior to Geregu, Dr. Julius B. Omodayo-Owotuga served as Group Executive Director, Finance & Risk Management of Forte Oil Plc (now Ardova Plc), where he was instrumental in balance sheet restructuring, capital optimisation, enterprise risk management, and the transformation of the company into a consistently profitable and governance-driven enterprise. He also led and supported several strategic financing, acquisition, divestment, and institutional restructuring initiatives during a critical phase of the company’s growth, materially improving financial performance, enhancing capital stability, and strengthening long-term shareholder value.

His professional career also includes roles at Africa Finance Corporation, Standard Chartered Bank, KPMG Professional Services and MBC International Bank (Now First Bank of Nigeria Limited), providing him with deep experience in institutional finance, treasury management, financial controls, regulatory engagement, and corporate advisory.

JB holds a B.Sc. in Accounting, a Master’s degree in Business Administration (with distinction), and a Doctorate in Business Administration. He is an alumnus of Oxford University’s Saïd Business School (UK), IE Business School, Madrid (Spain), Geneva Business School (Switzerland), and the University of Lagos (Nigeria). 

JB is a CFA Charter Holder, a Chartered Management Accountant, and a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), the Chartered Institute of Taxation of Nigeria (CITN), and the Institute of Credit Administration. He is also a member of the Institute of Directors (IoD) Nigeria.

He is married to Adeferowaye and their union is blessed with three boys. He enjoys playing tennis, mentoring professionals, and watching football in his leisure time.