The Managing Director of First Bank of Nigeria (FBN), Oluwasegun Alebiosu, has reportedly become the target of an alleged death threat following the bank’s recent restructuring efforts and aggressive recovery of outstanding debts owed by defaulting customers.
According to reports, the threat was delivered in a disturbing manner through a parcel containing live ammunition, which was sent to the bank chief’s residence in the upscale Ikoyi area of Lagos State.
Bullets Delivered in Confidential Package
Sources within the bank disclosed that the parcel was delivered by a dispatch rider before May 20, 2026. The package, reportedly marked as confidential and addressed directly to Alebiosu, was received by security personnel at his residence and later handed over to him.
Upon opening the package, the First Bank boss allegedly discovered two bullets carefully taped inside an envelope. No letter, note, or identifying information accompanied the package, making it difficult to determine the sender’s identity or motive.
The method used has been described as similar to the traditional Yoruba communication practice known as Aroko, where symbolic objects are used to convey messages without words.
Threat Linked to Bank Reforms and Debt Recovery Efforts
The alleged threat comes at a time when First Bank has intensified efforts to recover billions of naira in outstanding loans from customers who have reportedly defaulted on repayment obligations.
Insiders believe the bank’s recent reforms and debt recovery campaign may have generated resentment among some affected individuals and organizations.
A senior bank official, who spoke anonymously, stated that management considered the matter serious enough to immediately alert security agencies, given the apparent threat to the life of the bank’s chief executive and his family.
Police Launch Investigation
The incident has since been reported to the Lagos State Police Command and other security agencies.
Investigators are reportedly relying on CCTV footage from the Ikoyi neighborhood, where many residences are equipped with surveillance systems capable of capturing movements within the area.
A senior officer attached to the State Criminal Investigation Department (SCID), Panti, disclosed that investigators are working to identify and trace the dispatch rider, who is considered a key lead in the case.
Security experts familiar with the Ikoyi area also expressed confidence that available surveillance footage could assist authorities in tracking the individual responsible for delivering the package.
Debtors Listed During Police Interrogation
According to sources, during questioning by investigators, Alebiosu reportedly mentioned several companies with significant outstanding obligations to the bank as possible persons of interest.
The companies reportedly listed include Nestoil, General Hydrocarbons, Sahara Group, Petrostuff, Energy Shield, Broron Ltd, and Necit Ltd.
However, there is currently no evidence publicly linking any of the listed firms to the alleged threat, and authorities have not announced any suspects.
Police Assure Residents of Safety
When contacted, the spokesperson for the Lagos State Police Command, SP Abimbola Adebisi, confirmed that the command is aware of a similar report and stated that the matter is under active investigation by the State Criminal Investigation Department (SCID), Panti.
While declining to provide further details, she assured residents that the command remains committed to ensuring the safety and security of all persons living in Lagos State.
According to her, the police will continue to pursue all available leads and ensure that anyone found connected to the incident is brought to justice.
She also urged members of the public to remain vigilant and promptly report suspicious activities to the nearest police station.
Growing Concerns Over Corporate Security
The alleged threat against First Bank’s Managing Director has raised concerns about the risks associated with corporate reforms and debt recovery efforts in Nigeria’s banking sector. As investigations continue, security agencies are expected to intensify efforts to identify those behind the disturbing package and determine whether the incident was intended as intimidation or part of a larger criminal plot.
