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Adesola Adeduntan: Award Winning Financial Game Changer

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By Eric Elezuo

Only a few persons would believe that the Managing Director of FirstBank Nigeria Plc, the indefatigable Dr. Adesola Kazeem Adeduntan is just 50 years old. He was 50 on May 7, 2019. This is as a result of the achievements that have trailed his young life. Just a few days ago, 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 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, and make positive impact in the economic advancement of Nigeria, and very many other countries, especially where FirstBank domiciles, you are our Boss of the Week.

Congratulations sir!

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Personality in Focus

Ofala Festival: Igwe Achebe Applauds Globacom’s Enduring Cultural Partnership

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The Obi of Onitsha, His Majesty Igwe Alfred Nnaemeka Achebe, has commended Globacom for its unwavering commitment to the preservation and promotion of Nigeria’s cultural heritage, noting that the telecommunications company’s sustained support has helped transform the Ofala Festival into a world-renowned cultural celebration.

Speaking on the 2026 edition of the festival, held at Ime Obi, Onitsha, Anambra State, on Friday, the monarch paid a glowing tribute to Globacom for its longstanding role as the principal sponsor of the festival, a partnership that has spanned fifteen consecutive years since 2011.

According to the monarch, “Their partnership has transformed the festival from a palace ritual to a world-renowned cultural festival owes a great deal to purposeful partnership. Since 2011, Globacom has stood with us as our principal partner – now fifteen consecutive years of unwavering commitment.” He added that “In good times and challenging times, Globacom has helped us preserve the authenticity of Ofala while enhancing its presentation, documentation, broadcast and global reach. They have helped take a living heritage to the global stage”.

Igwe Achebe also applauded the vision of Globacom’s Chairman, Dr Mike Adenuga Jr., whose commitment to cultural preservation, he noted, reflects a profound appreciation of the role of indigenous traditions in strengthening national identity and social cohesion.

“I thank Globacom and its Chairman, Otunba (Dr) Mike Adenuga Jr., GCON, a true man of culture, for his vision and belief that culture is not a luxury but a foundation for unity,” the monarch said.

Commenting on the theme of this year’s festival, “Igba Mbo, Iga N’Iru” — Strive and Advance — Igwe Achebe described it as a compelling call to diligence, excellence, self-improvement and collective progress. He explained that the theme embodied the enduring spirit of the forebears who built the Onitsha kingdom on the banks of the Niger, while challenging younger generations to preserve that legacy through enterprise, purposeful endeavour and a commitment to progress.

In his goodwill message to the monarch and the people of Onitsha, Dr Adenuga described Globacom’s association with the Ofala Festival “since 2011 has been much more than a corporate partnership. It has been a relationship which we cherish deeply and regard as a privilege”. He expressed profound appreciation to Igwe Achebe for the opportunity afforded Globacom to contribute to the preservation, celebration and wider projection of the community’s priceless cultural heritage.

He noted that the annual festival provides a valuable platform for showcasing the rich cultural traditions, dignity and enduring values of the Onitsha people to audiences across Nigeria, Africa and the wider world.

Through its longstanding partnership with Ofala, Globacom continues to demonstrate that corporate citizenship extends beyond commercial enterprise to the preservation of the cultural foundations that give communities their identity, strengthen their unity and connect generations.

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Personality in Focus

Kardinal Takes Africa’s Business Travel Story to ECOWAS Startup Awards

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Kardinal Business Travel, a travel technology company with African and global focus, was among 60 startups that pitched at the 2nd edition of the Economic Community of West African States (ECOWAS) Startup Awards, held at the ECOWAS Commission headquarters in Abuja recently.

The company’s Chief Executive Officer and Founder, Cornelius Ugwunwa, presented the company’s case at the three-day event. The awards was part of an ECOWAS initiative to help West African businesses and startups scale through digital transformation, regional integration and sustainable value chains, with the aim of widening access to global markets.

Temitope Kareem, founder of Nigerian healthtech firm HubPharm Africa, won the top prize of $30,000. Senegal’s Gaynako took home $20,000 as first runner-up, while Steve Bah Blesson’s MyOpinion from Côte d’Ivoire won $15,000 as second runner-up.

Speaking during his pitch, Ugwunwa said Africa needs a new system for business travel. He cited a market with $75 billion in inbound travel spending and a strong business travel component in 2025, while travel and tourism as a whole contributed $228 billion to the regional economy.

“When a company sends its employees across Africa for a business engagement, we at Kardinal noticed the challenges of countless inboxes, spreadsheets and emails, mostly after the trip.

Businesses keep asking: How much did we spend? Who did we spend it on? Was it above or below budget? Can we reconcile everything on one platform?” he said.

He described African business travel as a $30 billion market that is largely fragmented and overly dependent on manual processes.

According to him, many businesses lose over $1 billion to manual travel processing and cannot track spending in real time. “That is why Kardinal exists: to solve this entrenched problem,” he said.

Ugwunwa said GoKardinal is an artificial intelligence-driven platform built to track expenses for African businesses. It brings the entire business travel lifecycle (planning, budgeting, booking, financing and expense tracking) onto one platform, in real time.

“GoKardinal is not another travel platform. It is an infrastructure for business travel, powered by AI for expense management,” he said, adding that the idea is to help businesses move without delay from one location to another to do their best work, expand and make profit.

On the company’s performance, he said the platform serves over 51 businesses in Nigeria and across Africa, with estimated weekly profit of $10,000 and gross merchandise value of over $1 million, growing at 65 per cent annually. he added.

He noted that about 80 per cent of African businesses still run their business travel manually, without any form of expense tracking, in a market worth over $30 billion annually. “African business travel is not just travelling for the fun of it.

It is an ecosystem with the potential to generate over $70 billion when digitalised,” Ugwunwa said.

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Personality in Focus

Ibadin Advises Military Personnel Against Unmanaged Anger

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The President of Security Resources & Risk Management Academy, Lagos, Mr. Matthew Ibadin, has charged officers of the Nigerian Armed Forces and allied nations to practice emotional discipline, warning that unmanaged anger remains a greater threat to a Staff Officer than the enemy.

Ibadin, who is also a doctoral researcher at the Nigerian Defence Academy (NDA) and University of Abuja, stated this on Monday while delivering a lecture on “Emotional Discipline Under Pressure and Anger Management for Staff Officers” to participants of Senior Course 48 at the Armed Forces Command and Staff College (AFCSC), Jaji, Kaduna.

The lecture was attended by 436 officers comprising the Nigerian Army, Nigerian Navy, Nigerian Air Force and officers from eight friendly nations.

Describing anger as “a temporary madness that leaves a permanent record,” Ibadin warned officers that “the line between a respected officer and an inmate is thinner than you can imagine.”

“Anger may enter the room, but must never take command,” he said.

The Lion Principle

Illustrating his point with the parable of the lions, Ibadin noted that while both male and female lions roar, the female roars only when necessary and lives 15-18 years compared to 10-12 years for the male.

“She lives longer not because she is weaker, but because she is more disciplined. Many of us have become male lions in uniform – fighting juniors, spouses, traffic, minor disagreements even when no real threat exists. That constant agitation slowly destroys what you have built,” he said.

He therefore charged officers to “be a female lion in strategy and a male lion only when tactically necessary.”

Five Battlefields Where Anger Destroys

Ibadin identified five battlefields where undisciplined anger destroys officers: Health, Home Front, Office and Command, Career and Prison, and Relationships.

On health, he described anger as a silent killer that triggers hypertension, stroke and cardiac arrest, noting that many officers survive the war front but do not survive peacetime.

“At Jaji, your rank commands respect, but at home your rank is irrelevant. If you win at the office and lose at home, you have lost. An officer whose home is under emotional fire cannot think clearly at the command post,” he cautioned.

He warned that signatures appended in anger to operational orders, procurement papers and personnel assessments could lead to Boards of Inquiry, career ruin and mission failure.

He added that 70 percent of inmates in correctional centres for murder never planned to kill, but acted in a moment of unmanaged anger.

Practical Tools

Ibadin introduced practical tools including the 90-Second Rule and the S.T.O.P Protocol – Stop, Take a Breath (4-4-4), Observe, and Proceed with Discipline – for decisions under pressure.

He adopted Aristotle’s five tests for disciplining anger: Right Person, Right Reason, Right Time, Right Degree, and Right Manner.

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