Personality in Focus
Adeduntan Sustains Winning Streak, Pioneers Leadership Excellence in Banking
Since his appointment as MD/CEO of First Bank of Nigeria Limited in 2016, Dr. Adesola Adeduntan has completely transformed the financial institution and has made it attractive to every strata of the society. From an institution that used to be perceived as an old-generation bank, FirstBank is now a darling to all as it leverages latest digital tools to meet its customers’ needs. Also, under Adeduntan’s leadership, the 128-year old bank has made huge contributions to national development, thereby stimulating development, setting standards and motivating excellent output across sectors. Clearly, these contributions to national development were what endeared Adeduntan to President Muhammadu Buhari who recently saluted him on his recognition by Cranfield University, UK, one of the most prestigious citadels of learning in Europe. Adeduntan will on Wednesday, June 22, be conferred with Doctor of Science, Honoris Causa and he would be delivering an address to the graduating class of the university. This feat, the president in a statement by his Special Adviser (Media and Publicity), Femi Adesina, described as, “another testament to the fact that Nigeria is blessed with the brightest and the best in all areas of human endeavor.” Buhari lauded Adeduntan for being a role model to the younger generation, showing that hard work pays, and with resourcefulness and doggedness, great heights are achievable.
Adeduntan holds a Doctor of Veterinary Medicine from the University of Ibadan, Master’s in Business Administration from Cranfield University, and is Fellow of Institute of Chartered Accountants of Nigeria (ICAN), as well as Chartered Institute of Bankers of Nigeria (CIBN).
The president sent best wishes to Adeduntan and family as he hoisted Nigeria’s flag proudly to receive an honor Cranfield University said was in recognition of his outstanding contribution to business. Incidentally, Buhari’s commendation came on the day the bank successfully held its AGM which showed a stellar performance in its financials, a transformational result that put the bank on course to reclaiming its leadership position of the financial sector.
Adeduntan has a distinguished career in finance having held senior positions at Citibank Nigeria, KPMG and Arthur Andersen Nigeria. He studied at Cranfield University as a British Chevening Scholar, achieving an MBA in 2005.
Commenting on the honour by Cranfield University, the FirstBank boss said: “I am extremely humbled and most grateful to the university for this recognition. My time at Cranfield served as a catalyst for my professional and personal development propelling me to the leadership position I occupy today.
“I am a firm believer in talent management, being vital to further accelerate Africa’s growth to enable it to benefit from its demographic dividend and the opportunities therein. I look forward to sharing my experiences with the students on the universal applicability of the skills the Cranfield MBA provides to positively impact the world.”
On his part, the Chief Executive and Vice-Chancellor of Cranfield University, Professor Karen Holford CBE FREng also congratulated Adeduntan, saying: “It is an honour to welcome Dr Adeduntan back to Cranfield to recognise all his professional achievements in this way. His own experience at Cranfield University has propelled his career forward and this serves as a true inspiration for our graduates both this year and in the future.”
Indeed, Adeduntan is an accomplished professional with distinctive international and domestic experience in commercial and investment banking, development finance, audit, and consulting; a philanthropist and leader with keen interest in providing platforms for the development of other young leaders.
The FirstBank Group, the commercial banking arm of FBN Holdings Plc, which he heads is made up of First Bank of Nigeria and subsidiaries including FBNBank UK, FBNBank DRC, FBNBank Ghana, FBNBank Senegal, FBNBank Guinea, FBNBank Gambia, FBNBank Sierra Leone and First Pension Custodian as well as Representative Offices in France and China.
Adeduntan is overseeing one of the most extensive transformation programmes in sub-Saharan African financial services industry, with the goal to reposition FirstBank Group to market pre-eminence.
He is leading FirstBank Group on the journey to win the most significant emerging business opportunities in the financial services industry through the development and execution of a digital-led strategy that has established FirstBank as the dominant player in digital banking.
FirstBank Group’s transformation programme, under the leadership of Adeduntan has enabled the bank to grow customer accounts from about 10 million in 2015 to over 36 million (including digital wallets), become the second largest issuer of cards in Africa with over 11.8 million issued cards, onboard over 18.6 million active customers on FirstBank’s digital banking platforms, and initiate and grow the most expansive bank-led Agent Banking Network in Africa with over 170,000 agents.
His career in banking and finance, spanning almost three decades, has earned him various recognitions and awards including Forbes Best of Africa – Outstanding Leader in Africa, Distinguished Alumnus Award by both the Cranfield University’s School of Management and the University of Ibadan, African Banking Personality of the Year, African Banker of the Year Award; Banking Icon of the Decade by the Sun Newspapers and induction into the African Leadership Magazine (ALM) Hall of Fame, Honorary Citizenship of the State of Georgia and Congressional Commendation Award from the Georgia Senate – USA, Bank CEO of the Year by the AES Excellence Club and several other awards.
He 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 both the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers of Nigeria (CIBN).
Adeduntan’s leadership drive also reflected in First Bank Nigeria Limited’s recently released full year 2021 financial statement. The results clearly showed the strength and resilience of the iconic African elephant as well as the financial institution’s leadership in the industry. The impressive results were a reflection of the robust strength and growth of the iconic African elephant, showing that the bank has taken its rightful position among the industry leaders.
In addition, it showed the level of work the current board, management and staff of the bank have put in to turn the tide in the 128 years old institution with entrenched corporate governance.
The full year 2021 performance by the bank represented a shift in the financial institution’s performance trajectory and was made possible through its undeterred commitment in pursuing its transformational agenda; cutting across customer-led innovation, building a digitalised bank, culture change, reinventing the bank’s workplace and safeguarding its assets for the digital age.
For the first time, FirstBank Group posted the best result in more than a decade history of the bank by crossing the N100 billion profit line. Specifically, in the full year 2021 financial statement, the FirstBank Group reported a 73.9 per cent growth in its profit after tax to N117.8 billion, as against the N67.8 billion recorded as of December 2020, just as its profit before tax stood at N130.9 billion, which was a significant rise by 77.9 per cent year-on-year, as against the N73.6 billion it was as of December 2020.
FirstBank’s gross earnings also increased by 30.3 per cent to N716.8 billion in 2021, up from N550.3 billion it was as of December 2020. Also, it recorded non-interest income of N342.2 billion in the year under review, which was 106.4 per cent higher than the N165.8 billion recorded as of December 2020. As a result of years of strategic restructuring of its balance sheet and operations, its gross earnings also moved northwards by 30.3 per cent, its total assets was up 15.9 per cent to N8.5 trillion as of the end of 2021, as against the N7.4 trillion recorded the previous year, just as its customer deposits also climbed by 19.5 per cent to N5.6 trillion, up from the N4.7 trillion recorded the previous year. The bank’s customer loans and advances also improved by 28 per cent to N2.8 trillion in the year under review, up from N2.2 trillion the previous year.
FirstBank has shown innovation, resilience and commitment to growth by significantly reducing its non-performing loans (NPL) from 25% in 2016 to an acceptable level of 6.1% in 2021.
To demonstrate that the bank’s performance in 2021 was not a fluke, the Bank equally performed excellently well in Q1 2022. FirstBank recorded 32% increase in gross earnings to N180bn in Q1’22 from N136.6bn in Q1’21. Profit after tax was up 108% to N32.4 billion (Q1’22) relative to N15.6 billion (Q1’21). This impressive performance is hinged on robust loan portfolio, effective cost structure and increased digital services.FirstBank recorded the highest decline in its cost-to-income ratio in Q1 2022, dropping from 79.5% recorded in Q1 2021 to 67.03% amongst tier-1 Banks in the review period.
With FirstBank under Adeduntan, the safety of customers and the security of their transactions come first. This has ensured the bank keeps the trust of Nigerians gained over the many years of its enduring legacy of safety and security.
The bank also delivers unique and bespoke financial services solutions across all customer segments underpinned by its commitment to innovation and the customer experience. It also leverages its strong investment banking capabilities to support clients in defining and executing innovative debt solutions as well as offer strategic advice at the highest level, arrange tailor-made financing structures, manage risk and ultimately help clients to realise their aspirations
Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership.
Over the years, the bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the federal government’s privatisation and commercialisation schemes. With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner. It is expected that the leadership excellence and recognitions accorded to Adeduntan would continue to reflect positively on the FirstBank brand and fundamentals of the bank so that the elephant will continue to stand ‘gidigba.’
Culled from ThisDay
By NOMA
The Nigerian Online Media Alliance (NOMA) has celebrated Mr. Olakunle Aderinokun on his 55th birthday, describing him as a distinguished strategic communications expert and media professional whose nearly three-decade career continues to shape Nigeria’s communications and business landscape.
In a statement by Theresa Moses, Chairperson, NOMA highlighted Aderinokun’s current role as Head, Media and Public Relations at Access Holdings Plc, where he leads group-wide media strategy, executive communications, crisis management, and corporate reputation positioning across local and international markets.
The Alliance noted that his ability to align corporate narratives with business strategy, stakeholder expectations, and regulatory realities has strengthened institutional credibility and public trust.
Aderinokun’s career reflects a unique blend of journalism, financial services, and corporate leadership. He spent 24 years at THISDAY Newspapers, rising to the position of Group Business Editor and Associate Editor, where he played a significant role in shaping Nigeria’s business journalism ecosystem. He later served as Editor, Business at ARISE News Channel, further consolidating his reputation for editorial excellence and impactful storytelling.
Throughout his journalism career, he covered critical sectors including banking, capital markets, energy, aviation, and macroeconomics, engaging directly with top policymakers, regulators, and corporate leaders. His extensive international exposure includes participation in global platforms such as the IMF-World Bank Meetings, African Development Bank Meetings, TICAD in Japan, the Nigeria-China Business Forum, Africa Oil Week in Cape Town, and Vaasa Energy Week in Finland.
Beyond journalism, Aderinokun brings strong financial and investment expertise, having worked with United Bank for Africa (UBA) and Wall Street Trust Company (now WSTC Financial Services), where he handled equity analysis, market research, and investment advisory. This foundation, NOMA noted, has enabled him to effectively bridge financial performance with strategic communication outcomes.
An entrepreneur, he founded Pure Synergy Ltd in 2013, a firm focused on reputation management and strategic communications, and later served as CEO of Excite Enterprise Ltd, an online business solutions platform.
In the public sector space, Aderinokun served as Media Adviser to Senator Tokunbo Abiru in 2020, where he led media strategy and publicity for the Lagos East Senatorial campaign, contributing to its successful outcome.
Academically, he holds a Bachelor’s degree in Mathematics (Pure and Applied) from the University of Ilorin and an MBA from the University of Lagos, complemented by executive education at Lagos Business School and professional training with the World Bank Institute, NIPR, and Standard Bank Group, South Africa. He also holds multiple professional certifications across public relations, banking, marketing, and digital communications.
NOMA described him as a quintessential, multifaceted professional whose career embodies excellence, innovation, and leadership.
“Olakunle Aderinokun represents the very best of strategic communication and media practice in Nigeria. His journey is not only inspiring but also instructive for the next generation of professionals navigating the evolving media and corporate landscape,” the statement read.
As he marks his 55th birthday, NOMA commended his enduring contributions and wished him continued success, good health, and greater accomplishments in the years ahead.
The Executive Secretary/CEO of the Lagos State Security Trust Fund (LSSTF), Dr. Ayodele Ogunsan, has congratulated the Inspector-General of Police, IGP Olatunji Rilwan Disu, on the occasion of his birthday, commending his visionary leadership and reform-driven approach to policing in Nigeria.
In his birthday remarks, Dr. Ogunsan described the IGP as a “distinguished officer whose career has consistently reflected professionalism, courage, and a deep commitment to public safety.”
He noted that since assuming office as the 23rd Inspector-General of Police early this Year 2026, Disu has demonstrated a clear resolve to reposition the Nigeria Police Force towards greater efficiency and public trust.
Dr. Ogunsan particularly praised the IGP’s emphasis on intelligence-led policing, a strategy aimed at enhancing proactive crime detection and prevention, as well as his push for the integration of digital tools and forensic capabilities into police operations. These reforms, he said, signal a shift towards modern, accountable, and citizen-focused policing.
He further highlighted Disu’s decisive steps to strengthen the state policing agenda and officers’ welfare. He praised him for the effective policing model through the restructuring and reduction of tactical units, a move designed to address concerns over excesses while redeploying personnel to police divisions for improved community-level security.
The LSSTF boss also acknowledged the IGP’s consistent advocacy for discipline, integrity, and professionalism within the Force, noting that such values are critical to restoring public confidence and enhancing institutional credibility.
Reflecting on his track record, Dr. Ogunsan recalled Disu’s impactful leadership roles across key commands, including the Rivers State and the Federal Capital Territory Commands, where he contributed significantly to crime control and intelligence-driven operations.
His tenure as the Commander of the Rapid Response Squad in Lagos is a testament to his operational excellence and urban crime management.
Ogunsan wished the IGP good health, wisdom, and continued success in his efforts to build a more secure Nigeria. “On this special occasion, we celebrate not only a remarkable leader but a reformer whose vision continues to inspire confidence in the security architecture of our nation,” Ogunsan said.
Terrorists in northeast Nigeria killed a brigadier general in an assault on a military base, a local government chairman told AFP on Thursday, the second killing of a high-ranking officer in five months.
Africa’s most populous country has been fighting a terrorist insurgency for 17 years, since Boko Haram’s 2009 uprising, which has seen the emergence of powerful splinter groups, including Islamic State West Africa Province.
In an overnight attack, unidentified terrorists killed at least 18 soldiers and torched vehicles at a base in Benisheikh, about 75 kilometres from Borno state capital Maiduguri, an intelligence source told AFP.
“Unfortunately, the brigade commander, Brigadier General O.O. Braimah, lost his life,” Kaga Local Government Chairman Zannah Lawan Ajimi told AFP in a phone interview.
Two intelligence sources confirmed Braimah’s death to AFP.
His death follows the killing of Brigadier General Musa Uba by ISWAP in November. He was the highest-ranking military official to die in the long-running conflict since 2021.
“They overran the brigade,” one of the intelligence sources said, giving the death toll as “at least” 18.
The second intelligence source said that “the terrorists killed several troops” and “burnt vehicles and buildings before they withdrew,” without giving a toll.
The army and Nigeria’s Defence Headquarters did not immediately respond to a request for comment.
– Rising terrorist violence –
Researchers have warned of an uptick of violence since 2025.
Borno capital Maiduguri has seen two suicide bombings since December — the type of bloody, urban attacks reminiscent of the insurgency’s peak a decade ago.
On Wednesday, the US State Department said in a notice it was authorising “non-emergency US government employees” to leave Abuja “due to the deteriorating security situation”.
While the insurgency is concentrated in the northeastern countryside, terrorists from Nigeria and the neighbouring Sahel have made inroads western Nigeria, where organised crime gangs known as “bandits” have been raiding villages and extorting farmers and artisanal miners for years.
Gunmen killed at least 90 people across several remote villages in northwest Nigeria this week, according to an AFP tally of tolls given by local and humanitarian sources.
Among the attacks was an assault in Kebbi state that police blamed a local terrorist group known as Mahmuda, which is affiliated with Al-Qaeda.
Kebbi sits on Nigeria’s border with Benin and Niger and since 2025 has been targeted by a rising number of terrorist attacks.
Conflict monitor ACLED says there has been a surge in violence in the area carried out by militants affiliated with Al-Qaeda and the Islamic State group.
In nearby Kwara state, in October, fighters from the Al-Qaeda-affiliated JNIM claimed an attack after years of researchers warning that the terrorist conflict ravaging the Sahel risked spreading south towards coastal West African states.
In December, the United States, with Nigerian assistance, bombed northwest Sokoto state, targeting Islamic State Sahel Province fighters usually found in neighbouring Niger, along with Mali and Burkina Faso.
AFP
