First HoldCo Plc has appointed Gwen Mwaba as a Non-Executive Director following approval from the Central Bank of Nigeria (CBN).
The appointment took effect on October 15, 2026, according to a regulatory disclosure submitted to the Nigerian Exchange Limited (NGX) on October 22.
Mwaba joins the board with nearly 30 years of experience in international banking, development finance, credit risk management and structured trade finance.
Before her appointment, she served as Managing Director of Trade Finance and Correspondent Banking at the African Export-Import Bank (Afreximbank), where she managed a $19.5 billion portfolio covering sovereign, financial institution and corporate exposures.
Her responsibilities included overseeing trade finance operations across Africa and the Caribbean, managing portfolio strategy and monitoring credit exposure across different sectors and countries.
She also participated in the bank’s credit committees, contributing to decisions involving major lending transactions.
Before assuming that position, Mwaba served as Regional Head of Anglophone West Africa at Afreximbank, overseeing business development and credit origination across Nigeria, Ghana, Sierra Leone, Liberia, The Gambia and Cape Verde.
Her earlier career included a senior position at Standard Bank Plc in London, where she served as Executive Vice President of Structured Trade and Commodity Finance.
In that role, she managed financing arrangements involving commodity transactions, export credit facilities and pre-export financing across African markets.
She also held senior banking positions at Stanbic Bank Zambia and Standard Bank South Africa, including responsibilities for corporate banking and asset finance.
Beyond her executive career, Mwaba has participated in international industry initiatives addressing trade finance and financial sector development.
These include the International Trade and Forfaiting Association’s Multilateral Institutions Board Advisory Panel and a World Trade Organization-led expert group on trade finance.
Mwaba holds a Master of Business Administration from Heriot-Watt University and a Bachelor of Science in Applied Accounting from Oxford Brookes University, both in the United Kingdom.
She is also a Fellow of the Association of Chartered Certified Accountants.
Her appointment brings additional experience in credit risk oversight, capital allocation and international financial markets to First HoldCo’s board.
The company, chaired by businessman Femi Otedola, is the holding company of First Bank of Nigeria and other financial services businesses.
In the disclosure signed by Group Company Secretary Abiola Baruwa, First HoldCo confirmed that the appointment had received the necessary regulatory approval.
The appointment expands the board’s expertise in banking strategy, corporate governance and development finance as the group continues to oversee its financial services operations.
