First Bank appoints Iyambo as executive director

First Bank of Nigeria Limited has announced the appointment of Patrick Iyamabo as an Executive Director. According to a statement, the appointment is subject to the approval of the Central Bank of Nigeria (CBN). 

Prior to Iyamabo’s appointment as Executive Director of FirstBank, he served as the Chief Financial Officer of FirstBank and its subsidiaries, having joined the Bank in August 2016 from First City Monument Bank Limited, where he served as its Senior Vice President of Strategy and M&A and then the Group Chief Financial Officer of FCMB Holdings.  

The statement, explained that Iyamabo joined FirstBank as part of the effort to strategically turnaround the group and address fundamental challenges facing the institution at that time.

He has been responsible for strategic leadership and supervision of financial control, internal control and enhancement, procurement; general services and administrative services; business performance monitoring, subsidiary finance and capital management, as well as enterprise data management and analytic function.  

With over 27 years of professional experience in assurance, risk management, business development, accounting and finance with Nigerian and multinational institutions both within and outside the country, Iyambo, previously worked at Arthur Andersen (“AA”) as auditor and strategy consultant, where he was a co-founding member of the Information Risk Management practice of AA.  

He holds a Bachelor of Pharmacy (B. Pharm) from the Ahmadu Bello University and a Master of Business Administration (MBA) with dual majors in Finance and Strategic Management from The Wharton School, University of Pennsylvania.

He has also attended specialised programmes at the Harvard Business School and The Wharton School. He is a Fellow, Institute of Chartered Accountants of Nigeria (FCA); Fellow, Chartered Institute of Taxation of Nigeria (FCITN); Member, Pharmaceutical Society of Nigeria; Honorary Senior Member, the Chartered Institute of Bankers of Nigeria (HCIB); and Member, Institute of Directors of Nigeria (M.IoD).
 
Speaking on the appointment, Dr. Adesola Adeduntan, CEO, FirstBank said, “We are delighted with the appointment of Patrick Iyamabo, as his elevation to the board is hinged on his excellent track record and the level of commitment he has demonstrated to the FirstBank Group. 

“Since joining FirstBank, Iyamabo has played a key role in repositioning the Group and has remained at the forefront of delivering to the Bank’s strategic goals as we have collectively reinforced our impact in driving financial inclusion and providing Nigerians with world class financial services.”