Security Scare for First Bank CEO with Bullet Parcel

On May 7, 2023, a parcel marked "confidential" was delivered to Olusegun Alebiosu, the Managing Director and CEO of First Bank Nigeria, at his Lagos home. The parcel was received by a security guard and later revealed to contain two live rounds of 7.62mm ammunition.

Alebiosu promptly alerted the police, leading to a full investigation by the Lagos State Police Command, confirmed by Commissioner Tijani Fatai, who stated that multiple leads are being pursued, although no arrests have been made. Alebiosu reportedly provided the names of individuals he suspects to the police for verification.

This incident occurs amidst significant turmoil at First Bank, which recently faced nationwide outrage after abruptly terminating 1,000 long-term contracts and writing off N748 billion in legacy bad loans as part of a cost-cutting drive. The delivery of military-grade ammunition, without any written demand, complicates the motive behind the parcel, raising serious security concerns for Alebiosu and the bank.