No fewer than 100 senior staff of First Bank of Nigeria (FBN) have been relieved of their appointments.

The changes follow the appointment of Olusegun Alebiosu as the bank’s new managing director and CEO in June.

The sources said the dismissals appear to be part of a concerted effort by the board led by Femi Otedola, its chairman, to introduce fresh blood into several leadership positions in the bank.

Some of the departures were voluntary, with senior staff choosing to explore other opportunities.

The shakeup also included the departure of a top executive director whose contract was not renewed by mutual agreement.