Biography
First Bank MD/CEO, Adesola Adeduntan: Biography, Age, Career, Education, Wife and Children, Achievements
Biography
Mr Adesola Kazeem Adeduntan is the Managing Director/Chief Executive Officer of Nigeria’s oldest bank, First Bank of Nigeria.
His appointment became effective on January 1, 2016, when he replaced Bisi Onasanya.
Before he was appointed the MD/CEO of FBN, Adeduntan served as the Bank’s Executive Director/Chief Financial Officer.
Age
Adeduntan was born on May 7, 1969. He is currently 54 years old and expected to clock 55 years old on May 7, 2024.
Tribe
Adesola Adeduntan was born in Ibadan, Oyo state. He is from the Yoruba tribe of Nigeria located predominantly in the Southwestern part of the country.
Marriage
He is married to Adenike Adeduntan. Adesola Adeduntan and his wife, Adenike both have three children together.
Education
He obtained his primary school education at Ibadan Municipal Government Primary School (IMG), Adeoyo N4 between 1975 and 1981.
His secondary school education was at Urban Day Grammar School, Old Ife Road, Ibadan, Oyo state.
Adeduntan will later proceed to the the University of Ibadan in 1986 to study Veterinary Medicine and qualified as a veterinary surgeon in 1992.
Adesola qualified as a chartered accountant in 2000.
Career
Adeduntan began his career with Afribank Nigeria Plc, when he was was posted to the Ibadan Main Branch of the bank as a graduate trainee.
He spent 18 months in this function, working in various areas of banking operations including cash management, clearing, credit risk management, and foreign operations.
He holds a Doctor of Science, Honoris Causa and an MBA from Cranfield University, United Kingdom which he attended as a Chevening Scholar.
Kazeem has attended various executive and leadership programmes at Harvard Business School (USA), Wharton School (USA), London Business School (UK), IESE (Spain), University of Oxford (UK), University of Cambridge (UK), CEIBS (China) and INSEAD (France).
He is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers of Nigeria (CIBN).
Adesola was a senior manager, financial services industry in KPMG between June 2002 and October 2004, where he co-pioneered the firms’ financial risk management advisory services. A knowledge manager, he was also a KPMG-accredited Trainer and facilitated several internal training programmes.
Adesola left KPMG in 2004 to study for 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.
Adesola was a senior vice-president (general manager) and chief financial officer for Citibank Nigeria Limited, responsible for the bank’s financial and product control functions, quality assurance and operational risk management. Having joined Citibank in September 2005, Adesola was to play important roles in the recapitalisation of the bank during the banking consolidation era. Adesola left Citibank in October 2007.
In November 2007, Adesola joined the Africa Finance Corporation, as the pioneer chief financial officer and business manager. In March 2014, he led the team that secured an A3/P2 investment grade international credit rating from Moody’s Investors Service.
This made the Africa Finance Corporation the second highest-rated lending financial institution in Africa.
In July 2014, Adesola was appointed an executive director and 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 4 January 2016 Adesola resumed work as managing director of First Bank of Nigeria Limited, and its commercial banking subsidiaries (FBN UK, FBN Ghana, FBN DRC, FBN Guinea, FBN Gambia, FBN Mortgages, and First Pension Custodian Limited). He succeeded Bisi Onasanya.
Net worth and source of wealth
Awards
On 7 December 2016 Adesola was awarded the Banker Of The Year 2016 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”.
In March 2020, Adesola was awarded the “African Banking Personality of the Year” 2019 at the eighth African Leadership Magazine Persons of the Year award dinner.
Controversy
On April 28, 2021, Adeduntan was removed as managing director and chief executive officer of First Bank of Nigeria by the bank’s board of directors.
However, he was reinstated by the Governor of Central Bank of Nigeria (CBN), on April 29, a day after he was removed by the board.
In the same announcement reinstating Adeduntan, the CBN governor sacked the entire board of directors of FBN Holdings Plc and its subsidiary First Bank of Nigeria Ltd citing insider abuse, insider credit and breakdown of corporate governance as the reason.
Disclaimer
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