Boss Of The Week

Adesola Adeduntan: Forbes’ Latest Man of the Moment

Published

6 years ago

August 28, 2020

Eric

By Eric Elezuo

Come September 11, 2020, the irrepressible Managing Director/CEO of the First Bank of Nigeria Limited, Dr Adesola Adeduntan, will add an additional feather to his cap when he is bestowed with the Forbes Best of Africa award by Forbes Africa in conjunction with Foreign Investment Network (FIN) for his contributions to the financial services sector in the country and the African continent. It must be noted that earlier in the year, Adeduntan bagged the much celebrated Cranfield University School of Management Distinguished Alumnus of the year Award. Without mincing words, the silent achiever is not new to awards.

An all rounder, the trained veterinary doctor turned visionary banker, has practically conquered every aspect of human endeavour he found himself, leading the FirstBank to a height only imaginable as the banks marks 126 years of uninterrupted banking. It would not be forgotten in a hurry that a media intelligence report presented by P+ Measurement Services, placed Adeduntan atop the list of most prominent and reputable Nigerian banking CEOs in Q2 2020. As the first quarter of 2020 was winding down, he was a guest lecturer at the Edinburgh School of Business where he spoke authoritatively on financial institutions’ role as drivers of financial inclusion

With all these super human achievements trailing him, only a few persons would believe that the indefatigable Dr. Adesola Kazeem Adeduntan is just 51 years old. He was 51 on May 7, 2019. This is as a result of the achievements that have trailed his young life. Earlier in the year, Dr. Adeduntan bagged an international award as Distinguished Alumnus of the Year by Cranfield School of Management, United Kingdom. This is even as FirstBank was named the biggest mover of 2019 according to KPMG Report within the same period. It is not incorrect to say that Adeduntan is a creative achiever.

Born Adesola Kazeem Adeduntan on May 7, 1969, in Ibadan, Oyo State, the banker started his early education at Ibadan Municipal Government Primary School (IMG), Adeoyo between1975 and 1981, for his primary education before proceeding to Urban Day Grammar School, Old Ife Road, Ibadan, where he had his secondary schooling. His excellent to duties created a space for him to become the Deputy Senior Prefect in his final year in 1986.

In the same year, he was admitted to the University of Ibadan in to study Veterinary Medicine, and qualified in 1992 as a Veterinary Surgeon, a profession he hardly practiced before switching over to financial management.

Consequently, in 1994 he joined Afribank (Nig) Plc., and was posted to the Ibadan Main Branch as a graduate trainee. He spent 18 months there learning the ropes, and working in various areas of banking operations including cash management, clearing, credit risk management, and foreign operations.

Between September 1995 and May 2002 Adeduntan worked with Arthur Andersen Nigeria, rising to become manager in the firm’s financial services industry business, leveraging on the 18 months mentorship he received at Afribank. In this role, he led and managed the statutory audit of a number of leading Nigerian banks.

In August 2000, he served as an instructor at the Andersen World-Wide Induction training for new hires in Eindhoven, the Netherlands. He also served as the lead instructor for the Local Office Basic Accounting Training and Induction course in 1999. It was while he was with Arthur Andersen that qualified as a chartered accountant in 2000.

With more feathers to his cap, Adeduntan moved to the financial services industry in KPMG as a senior manager in June 2002, and served diligently till October 2004 when he bowed out. At KPMG, he co-pioneered the firms’ financial risk management advisory services. He was also a KPMG-accredited Trainer and facilitated several internal training programmes.

When he left KPMG in 2004 to study, he pursued a Master’s degree in Business Administration at the Cranfield School of Management, where he was a British Chevening Scholar. He graduated in September 2005.

Armed with yet another great feather, Adeduntan moved to Citibank Nigeria Limited in 2005 where he became the Senior Vice-President (General Manager) and Chief Financial Officer. He was saddled with the responsibility of overseeing the bank’s financial and product control functions, quality assurance and operational risk management. he was on hand to assist the bank in its recapitalisation during the banking consolidation era.

In October 2007, he called it quits with Citibank, and a month later, pitched tent with the Africa Finance Corporation, as the pioneer Chief Financial Officer and Business Manager.

His achievement at the AFC includes leading the team that secured an A3/P2 investment grade international credit rating from Moody’s Investors Service in March 2014. This made the Africa Finance Corporation the second highest-rated lending financial institution in Africa.

In July 2014, he was appointed an Executive Director/Group Chief Financial Officer of FirstBank, where he was responsible for the bank’s financial control, internal control and enhancement, business performance management, treasury and procurement functions.

On Monday January 4, 2016, Adeduntan succeeded Bisi Onasanya, and assumed duty as Managing Director of FirstBank of Nigeria Limited, and its commercial banking subsidiaries including FBN UK, FBN Ghana, FBN DRC, FBN Guinea, FBN Gambia, FBN Mortgages, FBN Senegal, FBN Sierra Leone and First Pension Custodian Limited.

He coordinated his functions so professionally that on December 7, 2016, he was awarded the 2016 Banker of The Year award by the Leadership Newspaper “For refusing to ‘go with the flow’ even when the temptation was high and the reward substantial, and for reminding his colleagues that banking is nothing without integrity”.

A man of many beneficial and influential parts, Adeduntan currently sits on the board of the Nigerian Economic Summit Group, and as a non-executive director on the boards of the Nigeria Interbank Settlement System (NIBSS), Africa Finance Corporation (AFC), FBN Bank U.K. Ltd., Universal Payments Plc., and FMDQ OTC Securities Exchange. He is also a Fellow of the Institute of Chartered Accountants of Nigeria.

In just four years at the helm of affairs at FirstBank, Adeduntan has turned the tables and rewrote banking narratives, delving into all aspects of human endeavour to see to the development of SMEs, youth entrepreneuship among many others.

In his speech at the kick off of FirstBank’s celebration of 125 years of unbroken business operations, Adeduntan hinted as follows:

“From that very modest beginning in 1894, First Bank has traversed an incredible journey of delivering impeccable financial services to its customers and supporting the building of the modern-day Nigeria and indeed, West Africa, including our early pivotal role as the monetary and fiscal policy regulator for the entire West African region,” he said.

“As a long-standing institution, which even predates Nigeria as a unified entity, FirstBank is entrenched in the nation’s development; woven into the very fabric of society, with our involvement in every stage of national growth and development.

“At the amalgamation, independence and through the seasons ever after, we have been here marching hand-in-hand with you and our dear nation. We have enabled financial, technological, industrial and societal advancements, achieving very many firsts over time.”

Adeduntan has seen to the sponsorship of prolific enterprises to guide the youths on the right path. These include the African Fashion Week which took place at the Oriental Hotel and Youth Empowerment Seminar at the Harbour Point Event Centre. These shows among a whole lot have a lot of testimonials following.

Adesola is married to Mrs. Adenike Adeduntan and together they have three wonderful children.

For your ability to change the game, make positive impact in the economic advancement of Nigeria, and very many other countries, especially where FirstBank domiciles, and not forgetting bagging the prestigious Forbes Awards, you are once again our Boss of the Week. Congratulations sir!

Boss Of The Week

Fola Adeola to Head Tinubu’s Petroleum Task Force

Published

2 weeks ago

March 14, 2026

Eric

By Eric Elezuo

From his comfort zone, after meritoriously guiding the broad brand, Guaranty Trust Bank, to a height high enough to draw international comparisons in quality and service delivery, co-founder, Mr. Fola Adeola, attracted attention, bagging a presidential appointment as the Head of a nine-member Presidential Petroleum Reform and Value Optimization Task Force.

The appointment, approved on Friday by President Bola Tinubu, places a mandate on Adeola and his team to design and coordinate the next phase of structural reforms in Nigeria’s petroleum sector.

The appointment was announced in a statement by presidential spokesperson, Bayo Onanuga as follows:

PRESIDENT TINUBU ESTABLISHES TASK FORCE ON PRESIDENTIAL PETROLEUM REFORM & VALUE OPTIMISATION

President Bola Ahmed Tinubu, GCFR, has approved the establishment of a Presidential Petroleum Reform & Value Optimisation Taskforce to design and sequence the next phase of structural reforms in Nigeria’s petroleum sector.

Mr Fola Adeola, co-founder of Guaranty Trust Bank and founder and chairman of the Fate Foundation, is the Task Force’s chairman. As chairman, he will coordinate the group’s work and ensure the timely delivery of its mandate.

Other members of the Taskforce are: Ademola Adeyemi-Bero, Osagie Okunbor, Abubakar Suleiman, Adaeze Aguele, Farouk Gumel, Phillipa Osakwe-Okoye and Seyi Bella.

Mofoluwasho Fadayomi will serve as secretary.

As constituted, the Taskforce is a time-bound, high-level executive working group tasked with producing execution-ready reform blueprints that will consolidate ongoing reforms, unlock capital within the petroleum sector, and strengthen Nigeria’s position as a leading global energy investment destination.

The initiative reflects the President’s commitment to transforming Nigeria’s petroleum industry into a more competitive, transparent, and value-maximising sector capable of driving long-term economic growth, macroeconomic resilience, and industrial development.

It will operate as a technical reform body rather than a representative committee, engaging industry operators, regulators, investors, and civil society as consultees while focusing on actionable policy design and implementation strategies.

The Taskforce will report directly to the President and provide monthly progress memoranda. An interim report will be submitted after three months, while the final outputs are expected within six months of inauguration.

President Tinubu expects the Task Force to deliver three major reform blueprints.

One of the deliverables is the Implementation Toolkit for Immediate Structural Fixes – including draft legislative amendments, executive instruments, and institutional restructuring proposals.

The second deliverable is the Capital & Liquidity Acceleration Blueprint, aimed at unlocking $5–10 billion in sectoral liquidity while safeguarding Nigeria’s sovereign interests.

The third blueprint will focus on the National Energy Transformation Strategy – a ten-year roadmap with measurable targets for production, foreign exchange earnings, GDP contribution, and cost competitiveness.

President Tinubu has directed all Ministries, Departments, Agencies, regulators, and relevant institutions to provide full technical support to the Taskforce and to submit inventories of ongoing initiatives to ensure alignment with the emerging reform framework.

In furtherance of this directive, President Tinubu has also directed all existing committees, teams, and working groups established under various reform initiatives within the sector to align their activities, reporting structures, and work programmes with the new Task Force.

The streamlining will ensure coordination, avoid duplication of mandates, and provide institutional clarity, thereby ensuring coherence in the petroleum sector reform architecture.

The President has also directed that all relevant documentation, institutional knowledge, and ongoing workstreams should be made available to the Taskforce to support the development and implementation of its comprehensive reform framework.

The creation of the Taskforce represents a strategic presidential instrument to accelerate petroleum sector reforms, strengthen governance architecture, optimise national energy assets, and position Nigeria’s petroleum resources as a foundation for sustainable economic transformation.

The Taskforce will automatically dissolve upon submission and acceptance of its final report.

Fola chairs the committee alongside reputable industry and financial sector experts, including Ademola Adeyemi-Bero, Osagie Okunbor, Abubakar Suleiman, Adaeze Aguele, Farouk Gumel, Phillipa Osakwe-Okoye, and Seyi Bella with Mofoluwasho Fadayomi will serve as secretary.

President Tinubu tasked the committee with producing execution-ready reform blueprints that will consolidate ongoing reforms, unlock capital within the petroleum sector, and strengthen Nigeria’s position as a leading global energy investment destination.

The committee’s establishment comes after President Tinubu announced Presidential Executive Order 09 on February 13, 2026, that mandates direct remittance of all government petroleum revenue to the federation account.

THE CAREER TRAJECTORY OF FOLA ADEOLA

Beyond being a financial wizard, Adeola has once tried his hands in politics, aiming for the number position of the Nigerian nation as the vice president. That was when ran with the present National Security Adviser, Nuhu Ribadu under the umbrella of the Action Congress of Nigeria (ACN).

Born on January 10, 1954, Adeola is an alumnus of Methodist Boys High School, Lagos, and Yaba College of Technology, where he obtained a Diploma in Accounting in 1975.

He became a Chartered Accountant in 1980 following his training with Deloitte, Haskins and Sells and D.O. Dafinone & Company (both Chartered Accountants). Over the years he has received professional development training at Harvard Business School, INSEAD, and the International Institute for Management Development in Switzerland.

In 1999, he completed a one-year sabbatical at the National Institute for Policy and Strategic Studies in Kuru, Jos, Nigeria, where he carried out research on economic development and job creation policies.

Adeola co-founded one of Nigeria’s biggest banks, now a holding company, the Guaranty Trust Holding Company, owner of Guaranty Trust Bank, together with Tayo Aderinokun in 1990. He served as its Chief Executive Officer and Managing Director from inception until 2002.

He is also the founder of FATE Foundation and chairman of Main One, Nigeria’s leading telecom company.

In the public sector, Fola served as the past board chairman of the National Pension Commission from December 2004 to June 2006. He also at one time chaired the Lagos State Disaster Relief Committee.

He was decorated as Officer of the Order of the Federal Republic (OFR) in December 2002 by then President Olusegun Obasanjo. He also has an honorary doctorate from Nkumba University, Ntebbe, Uganda.

In 2009, he won Banker of the Decade award by the Vanguard Newspaper group. Other awards trailing the accomplished bank include Distinguished Famous Alumni award by Yaba Tech Zik Leadership in 2003, and This Day Awards 2011 – Change Makers in Social Entrepreneurship.

Adeola is married to Hajara, and they are blessed with six children.

Boss Of The Week

Prof Jide Owoeye: When a Distinguished Academic Turns 70

Published

4 weeks ago

February 28, 2026

Eric

By Eric Elezuo

It was a gathering of distinguished egg heads, prolific intellectuals and ardent academics at the Adeline Hall of the Lead City University, Ibadan, when notable and celebrated Chairman of Council and Pro-Chancellor of the Institution, Professor Jide Owoeye, marked his entry into the septugenarian circle.

The event, a multiple-in-1 classic, featured tribute session, a panel session, books presentation and reading as a well as a defined colloquium. Among topnotch individuals that graced the event were delectable heads of higher institutions of learning including the Vice Chancellor, Edo State University, Uzairue, Sheldrake O. Akindele; the Vice Chancellor, Chrisland University, Abeokuta, Oyedunni S. Arulogun; Vice Chancellor of Crescent University, Abeokuta, Ibrahim Gbajabiamila, and the Deputy Vice Chancellor, Ajayi Crowther University, Oyo, Muyiwa Popoola, who were members of the panel session that discussed critical mechanisms that enhance and safeguard the future of education in the country.

The panelists leveraged on the theme, Nigeria Higher Education and Private Sector Involvement: Navigating the Path, Confronting the Challenges, Exploring Opportunities for the Future. The lead discussant was the Vice Chancellor, Federal University, Katherine, Gombe State, Umaru Pate.

Speaker after speaker, the academic giants celebrated the unequaled legacies of Prof Owoeye’s 70 years of impressive existence, especially his scholarly contributions to the standardization of not only learning, but also academic environment in Nigeria with the establishment of Lead City University in 2005.

The ceremony was punctuated with various genres of entertainment including cultural dances, touch of saxophone, talking drum display, drama presentation by students of the institution, and a host of others.

Among the books presented at the ceremony were Asia in World Politics and Knowledge in the Emerging Global Order.

The highpoint of the gathering was the cutting of the birthday cake with various presentations of full size portraits and other gifts items from colleagues, students and staff.

Othe dignitaries who graced the occasion were Chairman, Ovation Media Group, Chief Dele Momodu, General Secretary, Pan African Writers Association (PAWA), Wale Okediran, Oyo State Commissioner of Lagos among others.

Speaking on his achievements, a long time friend from the University of Ife days, Chief Momodu, noted that Prof Owoeye has always been a man of letters, who has carved a niche for himself, adding that Nigeria and Africa are proud of him.

Distinguished in every ramifications, and an authority in International politics and relations, with bias to Asia, Owoeye has transverse all areas and degrees of the academic environment, terminating at the professorial level, and capping it all with the establishment of topnotch private university as the icing on the cake of his academic pursuit and inclination. He boasts of bachelor’s, masters and doctorate degrees in different fields of international studies.

For Owoeye, reaching the peak of his profession was when he became a professor of International Relations at OAU in the year 2000.

Born on March 1, 1956, Prof. Jide Owoeye is a teacher, and a very proud one at that, who would not miss any opportunity to introduce learning and exchange of knowledge. That practically explains why his 70th birthday celebration was tailored towards a colloquium and book presentation status.

Owoeye began his schooling at the OLMC Demonstration School, Ibadan, where he spent the period between 1962 and 1967 acquiring elementary or foundational knowledge of education.

Afterwards in 1968, he attended Olivet Baptist High School, Oyo, for his school certificate, and left in 1972 before attending Government College Ibadan, for his Higher School Certificate, from 1973 to 1974.

He was admitted into the University of Ife, now Obafemi Awolowo University, for his first degree.

On graduation, he was employed as Insurance Officer at Akin George & Company, Lagos, as he decided to try his hands in circular career. His stint at the firm lasted between 1979 and 1980.

Thereafter, he made a daring turn into the word of teaching, becoming Lecturer II at the Department of Government, OSCAS, Ile-Ife, from 1980 to 1982. He briefly worked as Administrative Officer at the Obafemi Awolowo University, Ile-Ife, afterwards in 1983 before landing the position of Senior Lecturer at the Department of International Relations, Obafemi Awolowo University.

Then, there was no turning back from the academic world. He was made a Visiting Senior Research Fellow at the Nigerian Institute of International Affairs, Lagos, from 1992 to 1993, and then, Associate Lecturer, Foreign Policy Academy, at the Ministry of Foreign Affairs, International Centre for Asian Studies.

In a 2019 interview he granted The Punch, Owoeye noted as follows as to what propelled his desire to establish his own university: “I have been in the university system for almost 37 years and 24 of those years were spent in the public university system. I was a professor at the Obafemi Awolowo University, Ile Ife, Osun State, and I noticed then that if one has passion for education, one should have seen some of the lapses (in the system), and some of those lapses one discovered can only be corrected if one is the head of the institution. I believe if you aspire to have a better university system, it is either you head the institution or you look for avenues to help create one where you can impact upon. That was what brought about the passion to work towards establishing a private university where the quest for excellence can actually be attained.”

Owoeye’s rich trajectory in the world of education is common knowledge, leading to his hold several high-profile positions in Obafemi Awolowo University.

Owoeye is married to his lovely wife, Emuleomo, whom he wedded in 1982, and they are blessed with three children; a son and two daughters.

Meanwhile, a special birthday soiree has been scheduled for March 1, his day of turning 70 proper, at Adeline Hall of the university. It promises to be the mother of all celebrations.

Having spent a lot of energy paying attention to education, Owoeye would love to be remembered as somebody who contributed to quality education (at the tertiary and non-tertiary levels) in this country.

Happy 70th birthday sir!

Photos: Tunde Bolarinwa

Boss Of The Week

Kojo Bonsu: Creating Ghana’s New Investment Face in China

Published

1 month ago

February 15, 2026

Eric

By Eric Elezuo

Schooled in varioius areas of human endeavour and administration, Mr Kojo Bonsu is an asset, not only to the Republic of Ghana, but the world in general. He has by every standard paid his dues to the development of his country, serving as the current Ambassador to the Peoples Republic of China, and having served in many other diverse areas including sports administration and entrepreneurship.

Presently, the face of the Republic in China has taken it upon himself to recreate the investment platform of Ghana in China, mandating the media to begin as a matter of urgency, to make Ghana the subject of focus in their reporting.

In other words, the Ambassador has appealed to the Chinese media to use their medium to promote Ghana. A call that resonate the general mantra of the government of President John Dramani Mahama

According to Bonsu, Ghana boasts of several business opportunities, therefore if the Chinese media take keen interest in Ghanaian issues, it would help attract investors from China to Ghana.

He insisted that the door of the Ghana Embassy in China is wide open to Chinese journalists, especially those who want to positively project Ghana.

Bonsu made the remarks while hosting a press soiree in Beijing, on behalf of the Ghana Embassy, which was graced by a number of prominent media institutions in China.

The programme was mainly used to promote Ghana’s upcoming 69th independence anniversary celebrations and also highlight investent opportunities in the country.

Kojo Bonsu, who is a former Kumasi Mayor, said Ghana is the safest, friendly and best country for any investor to do business, urging Chinese businessmen to heed his advice.

“The Chinese media institutions should henceforth partner with the Ghana Embassy in promoting trade and investment opportunities in both of our sister countries for growth.

“There are potential for growth in various sectors such as infrastructure, clean energy, Information Technology (IT) and Artificial Intelligence (AI), healthcare, minerals processing and agriculture,” Mr. Bonsu pointed out.

According to him, Ghana is a democratic nation, which has conducive atmosphere for businesses to flourish, stressing his desire to work and improve Ghana-China relations.

“Ghana is committed to strengthening ties with China. My country is a stable democracy, has business-friendly environment and rich cultural heritage,” Kojo Bonsu stated.

A native of Offinso, a town in the Ashanti Region of Ghana, Michael Kojo (Mensa) Bonsu, thoroughbred professional, both in politics and administration, was born to a respected Offinso Queen Mother and a military officer, among eight other siblings.

He had his Ordinary Level education at the Tamale Secondary School, between 1974 and 1979, where he developed the knack, desire and dream of becoming a football administrator.

Thereafter, he was admitted into the Drayton School in London, but could not immediately assume studies because of the several businesses he was handling at the time. However, between 1985 and 1990, when Bonsu joined giant sports kit manufacturers, Adidas, he enrolled into their football Business Unit at Herzogenaurach, Germany, and in the process obtained a Diploma in Sports Business and Marketing. Presently, he holds a Master’s Degree in International Relations.

After completing his training in sports Business and marketing, Bonsu worked with Adidas and became their first representative in West Africa and served as an Assistant Marketing Officer. He rose to become the kit maker’s manager in Ghana and the whole of West Africa. Within which period he brokered deals between the company and the Ghana football Association specifically the Ghana football national team.

Bonsu has nine biological siblings. They shared a home in Offinso, a town in Ghana’s Ashanti region, but as they grew older, their lives started to diverge. His mother was a respected Offinso Queen Mother who was wed to a rigid military officer.

Bonsu’s dexterity in all the things he has laid his hands, including the oil sector, on earned him a citation of honour in 2015 by Managing Director of GOIL, Mr Patrick A.K. Akorli as follows; “You were the key advocate on the board when the monumental decision to rebrand GOIL was taken – the results of which have seen GOIL being propelled to the number one position (retail) among oil marketing companies in Ghana”.

He served as the Managing Director of GOIL from July 2011 to February 2012.

In addition to his legacy of achievements, Bonsu is a director of Tamale-based club Real Tamale United. He was also an executive member of Asante Kotoko.

In 2003, he launched a bid to be the Ghana Football Association’s President. He went against former president of the GFA Kwesi Nyantakyi, politician and executive member of Accra Hearts of Oak, Vincent Odotei Sowah, a former FA vice-chairman, Joseph Ade Coker and former executive council chairman, Y.A Ibrahim. He subsequently lost to Kwesi Nyantakyi in the elections in December 2005.

An ardent supporter of Asante Kotoko and Premier side Tottenham Hotspur, in 2001, he founded and published Agoo Magazine, an African lifestyle magazine.

In January 2010, Bonsu was appointed board chairman of the National Sports Authority then a council under the Ministry of Youth and Sports. He is known and respected for spearheading the re-branding of the sports council until it subsequently became a sports authority.

In 2013, President Mahama nominated him for the position of Metropolitan Chief Executive for the Kumasi Metropolitan Assembly. He resigned in July 2016, following an issue with the Kumasi Traditional Council.

Among many other landmarks, Bonsu would be remembered building the first ever recreational facility, the Kumasi Rattray Park, and organizing the second largest event as part of the celebration of Ghana at 50, dubbed “Ghana As One Gala Night” at Ghana’s Black Star Square with International artists including The Whispers, Shalamar, Pat Thomas, AB Cresntil, Gyedu Blay Amboley, Paapa Yankson and Ola Williams.

It is also on record that in 2014, he secured a loan facility from the Deutsche Bank UAE through parliamentary approval to build the largest modern market in West Africa, the Kejetia Market, called the “Kejetia Dubai,” completed in 2017. He also built the Asawase market, Tafo market, and Atonsu-Agogo market. He renovated the Kumasi Prempeh Assembly Hall. Bonsu’s strides speak volumes.

Bonsu tried his hands at the presidency of Ghana in 2024, but could not win the ticket of his party as Mahama was the preferred choice.

Bonsu continues to exhibit great strides as a distinguished administrator, businessman and political juggernaut.