Tension Rises Among FirstBank Shareholders Amid Leadership Concerns, As MD Olusegun Alebiosu Reportedly Receives ‘Death Threat’ From Unknown Sender

An atmosphere of anxiety and uncertainty has reportedly engulfed First Bank of Nigeria (FIRSTBANK) following reports that the bank’s Managing Director and Chief Executive Officer, Olusegun Alebiosu, received a mysterious parcel allegedly containing live ammunition from an unidentified sender.

The disturbing development has sent shockwaves across Nigeria’s financial sector, triggering concerns among shareholders, investors, employees and other stakeholders over the safety of the bank’s top management and the possible implications for the institution’s operations. The alleged threat is said to have emerged at a time when the bank is pursuing an aggressive restructuring programme and intensifying efforts to recover billions of naira in non-performing loans from debtors.

Sources familiar with the matter disclosed that the parcel was delivered anonymously to Alebiosu’s residence in the upscale Ikoyi area of Lagos. According to insiders, the package was received by security personnel and subsequently handed over to the bank chief after it was found to be addressed to him and marked confidential.

Upon opening the parcel, Alebiosu allegedly discovered bullets concealed inside an envelope. Sources claimed that there was no accompanying letter, note, signature, or identifying information that could reveal the identity of the sender or explain the motive behind the package. The method reportedly used to convey the message has been likened to the traditional Yoruba symbolic communication system known as “Aroko,” often employed to send coded messages without words.

The incident has fueled speculation that the alleged threat may be connected to recent policy decisions taken by the bank’s management. Industry observers note that FIRSTBANK has in recent months implemented reforms aimed at strengthening internal controls, improving operational efficiency and recovering outstanding debts from major loan defaulters. These measures, while applauded by some stakeholders, are believed to have generated dissatisfaction among certain customers and indebted entities affected by the bank’s recovery drive.

Sources within the institution indicated that the bullets found inside the package resembled ammunition commonly associated with assault rifles. The items were reportedly taped securely within the envelope, making it difficult for anyone handling the package to detect its contents before it was opened.

Following the discovery, security agencies were immediately alerted and an investigation was launched. Detectives are said to be examining CCTV footage and other evidence gathered from the residence in a bid to identify the dispatch rider who delivered the parcel. Investigators reportedly regard the rider as a crucial lead who may help unravel the identity of those behind the alleged threat.

Reports further indicate that during discussions with investigators, Alebiosu was asked to identify individuals or organisations that could potentially have grievances against him or the bank. According to sources, a number of major debtors allegedly surfaced during the course of the inquiry, although no evidence has been publicly presented linking any individual or company to the incident.

The Lagos State Police Command has confirmed that the matter is under investigation by the State Criminal Investigation Department (SCID), Panti. While authorities have remained cautious about releasing details, police officials have assured the public that all necessary measures are being taken to uncover those responsible and ensure the safety of residents.

As news of the incident continues to spread, shareholders are said to be increasingly concerned about the security of the bank’s leadership and the broader impact such developments could have on investor confidence. Many stakeholders have called for a thorough and transparent investigation to determine the source of the alleged threat and to reassure the market that adequate security measures are in place.

Although the identity of the sender and the motive behind the parcel remain unknown, the incident has intensified concerns within banking circles and heightened attention on the challenges facing financial institutions as they pursue reforms and debt recovery efforts. For now, industry observers and shareholders alike await the outcome of the ongoing investigation, hoping that authorities will swiftly uncover the facts behind the alarming development.