A dispatch rider arrived at Olusegun Alebiosu’s Lagos home on May 7. He handed over an unmarked parcel marked “Confidential.” A security guard received it only for it to be revealed later that inside the parcel were two rounds of 7.62mm live ammunition.
Alebiosu is the Managing Director and CEO of First Bank of Nigeria. He was permanently confirmed in that role under Chairman Femi Otedola and is the arrowhead for the bank even as it continued through its intense restructuring.
Perhaps the caution derived from the exercise contributed to Alebiosu’s quick action of alerting the police immediately after receiving the parcel.
According to reports, the Lagos State Police Command has launched a full investigation. Commissioner Tijani Fatai confirmed that detectives are pursuing multiple leads, though no arrests have been made. Plus, Alebiosu has reportedly provided investigators with names of individuals he personally suspects. The police are verifying those leads.
It might be unrelated, but in March 2026, First Bank triggered nationwide outrage after abruptly logging off and firing over 1,000 long-term contract workers. Affected staff were locked out of their workspaces mid-shift on Employee Appreciation Day. Around 100 senior executives were also forced out between late 2024 and early 2026.
