The Board of Directors confirmed that Mr. Ariyibi’s retirement comes ahead of the expiration of his current contract. In its statement, the Board expressed appreciation for his contributions, noting: “We appreciate his meritorious service to the Group and wish him every success in his future endeavors.”
A Decade of Service and Leadership
Mr. Ariyibi has been a pivotal figure at FirstHoldCo for over a decade, having joined in September 2013 as the pioneer Head of the Finance Department. His expertise spanned financial controls, strategy, capital management, regulatory reporting, risk management, compliance, and business assurance.
In 2016, he was promoted to General Manager before assuming the role of CFO. By August 2022, he was appointed to the Board as Executive Director, Investment Management and Oversight, where he played a key role in shaping the Group’s financial strategy and strengthening governance structures.
With more than 30 years of professional experience across banking, financial services, tax management, and consulting, Mr. Ariyibi’s career includes senior roles at Ernst & Young (EY), PricewaterhouseCoopers, Standard Chartered Bank, and Transnational Corporation of Nigeria Plc (Transcorp), where he also served as CFO.
Professional Credentials
Mr. Ariyibi holds a Bachelor’s degree in Microbiology from the University of Ilorin and an MBA in Marketing from the University of Lagos. He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA), an Associate of the Chartered Institute of Taxation (ACIT), a member of the Certified Pension Institute of Nigeria (ACIP), and a member of the Institute of Directors (IoD) Nigeria.
He also completed the Advanced Management Programme at Northwestern University’s Kellogg Business School and participated in several international executive training programs.
The Board of FirstHoldCo
As of August 2025, FirstHoldCo’s Board is chaired by Olufemi Otedola, with Wale Oyedeji serving as Group Managing Director. Alongside Mr. Ariyibi, the Board includes independent non-executive directors Dr. Alimi Abdul-Razaq, Dr. (Sir) Peter Aliogo, and Kofo Dosekun, as well as non-executive directors Dr. Abiodun Oluwole Fatade, JB Omodayo-Owotuga, and Olusegun Alebiosu.
Mr. Ariyibi’s departure marks a significant leadership transition for the Group, which now faces the task of appointing a successor to continue driving its financial and strategic agenda.