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Profile: Tunde Hassan-Odukale – The Highest Individual Shareholder at First Bank Ahead of Otedola



By Balogun Kamilu Lekan

Tunde Hassan-Odukale is the son of  Sir Olusola Hassan Odukale, the founder of Leadway Assurance. A firm founded to boost local participation in an industrial sector dominated by foreign firms.

He is a seasoned banker and financial expert, having spent almost 28 years as executive director of Leadway Assurance. His expertise spans asset management, IT, finance, and life insurance. Over the past 30 years, he has held various positions at Leadway and served on the boards of other financial organizations in Nigeria and the UK.

Tunde currently sits as the company’s managing director and is also chairman of First Bank of Nigeria.

After his father died in 1999, his elder brother, Oyekanmi, took over the leadership of Leadway Assurance. He remained in that capacity before finally handing over to Tunde in 2020.

Before Tunde was appointed the managing director of Leadsway Assurance, he was the company’s executive director for 28 years.

Tunde attended the prestigious Hurtwood House College in the UK between 1981 and 1984 to earn his A-level certificate before heading to London University, where he bagged a Bachelor of Science degree in Metamathematics. 

He also proceeded to the City University London to obtain a Post Graduate degree in Actuarial Science.  

In 2021, Tunde Hassan beat heavyweight business mogul Femi Otedola to emerge as the largest single shareholder in FBN Holdings PLC. Otedola, who owns a 5.07% stake in the bank, fell behind Tunde, who amasses a 5.36% stake.

However, a report from the bank informs that as of March 2022, Femi Otedola has regained his place as the individual with the single highest number of shares at FBN Holding Plc.

Both Otedola and Hassan hold over 5% in equity of FBN holding in the Nigeria Stock Exchange.

The Central Bank of Nigeria sacked key board members of First Bank Nigeria (FBN) and First Bank of Nigeria Holding Plc. Among those affected are the chairmen of the two entities, Mr Oba Otudeko of FBN Holdings and Mrs Ibukun Awosika of FBN.

The exit of Awosika saw the emergence of Tunde, who joined the Board of First Bank of Nigeria Limited as a Non-Executive Director in 2011, to emerge as the Chairman.

On the other hand, his elder brother Oyekanmi was appointed the Chairman of FBN Bank Ltd (UK), a wholly owned subsidiary of First Bank in London.

In another capacity, Tunde is also a board member at Stanbic Bank Limited and Union Assurance Ltd. He is also a director at Adswitch Plc and Globe Reinsurance Company Limited.

Additionally, he is a member of the  Royal Society of Mathematics, the Institute of Actuaries, and the Institute of Directors.

His total net worth is estimated at $60 million.


The information in this article was curated from online sources. NewsWireNGR or its editorial team cannot independently verify all details.

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