FirstBank names Patrick Iyamabo as the new Chief Financial Officer

August 23, 2016, 11:18 am
FirstBank of Nigeria Limited, Nigeria’s most valuable banking brand and foremost financial institution, today announced the appointment of Mr. Patrick Iyamabo as its new Chief Financial Officer (CFO). The appointment follows the elevation of the former CFO, Dr. Adesola Adeduntan to Managing Director/CEO of the Bank. Mr. Iyamabo’ s appointment, which is still subject to approval by the Central Bank of Nigeria (CBN), is consistent with FirstBank’s focus on corporate governance and best practice, and ensuring a balance of knowledge, judgment and experience at the highest decision making level in the Bank. The Bank’s Corporate Governance focus has earned it much respect and recognition both locally and internationally. Patrick started his career with Arthur Andersen (now KPMG Professional Services) as an Auditor in the Banking and Finance practice, and rose to the position of Experienced Manager in the Assurance & Risk Consulting practice, before he left the country for further studies abroad. At various times, Patrick also worked with Booz Allen Hamilton (New York) and LE.K Consulting (Boston) as an experienced strategy and M&A Consultant, advising private and listed corporations in the US. He returned to Nigeria in 2007, to join FCMB Plc as Vice President/Head, Strategy and Mergers & Acquisitions. He led the acquisition, restructuring and merger of the FinBank Plc into FCMB in 2012, where he was the Chief Financial Officer / Integration Director on secondment from FCMB. Until his appointment, Mr. Iyamabo was the Chief Financial Officer (CFO) of FCMB Group Plc with oversight responsibility for Accounting & Finance, Capital and Liquidity Management, Mergers & Acquisition, Portfolio Management and Investor Relations. Patrick has over 20 years of extensive experience across various industries both within and outside Nigeria. He also has significant cross functional experience in Accounting, Audit, Strategic Management, Mergers & Acquisition and Finance, which will be immensely beneficial to the Bank in his new role as the Chief Financial Officer. Patrick Iyamabo holds a Bachelor’s degree in Pharmacy from the Ahmadu Bello University, Zaria. He also holds a Masters of Business Administration (MBA) from The Wharton School, University of Pennsylvania, USA and participated in an MBA exchange program at INSEAD in Singapore. He has also attended professional programs at various institutions including the Harvard Business School, in Boston. He is a member of various professional bodies, including Fellow, Institute of Chartered Accountants of Nigeria (FCA); Associate, Chartered Institute of Taxation of Nigeria (ACIT); Fellow, Institute of Credit Administration (FICA); Honorary Senior Member of the Chartered Institute of Bankers of Nigeria (HSM CIBN); and Certified Information Systems Auditors (CISA). In his comment on the appointment, the Bank’s Managing Director/Chief Executive Officer, Dr. Adesola Adeduntan in welcoming Mr. Iyamabo to the FirstBank Board, commented: “Patrick’s track record typifies our Bank’s value system hinged on passion, partnership, innovation, creativity and dynamism. I am confident that he will help drive sustainable growth, development and value creation in FirstBank.”
Like this story? Get on the list for's FREE!.

Related News


High Court Barred The Government From Arresting Nation Media Group (NMG) Journalists Linus Kaikai

High Court on Friday barred the Government from arresting Nation Media Group (NMG) journalists Linus Kaikai, Larry Madowo and Ken Mijungu. Justic....

Raila Odinga Has Taken ‘Oath’As The President Of The Republic Of Kenya.

After days of anxiety and a postponement in December 12, 2017, Raila Odinga has taken ‘oath’ as the President of the Republic of Kenya.


Tuface, Annie in Benue To Support Flood Victims

The popular musician, Innocent Idibia, popularly known as TuFace, has arrived at the camp for internally displaced persons in Makurdi, the Benue St....

UEFA Extends Kit Assistance Scheme to 2022

UEFA has extended its successful Kit Assistance Scheme, which supports Europe’s smaller national associations....

We're ready to prove Judiciary wrong, says Uhuru, asks IEBC to set dates

President Uhuru Kenyatta has asked the electoral agency to announce the dates for the repeat presidential elections as soon as possible.