Key Points
- Tinubu commends Adeduntan for nine years of leadership at FirstBank.
- Adeduntan expanded customer accounts from 10 million to 42 million.
- Bank profits rose from N10bn to N300bn under Adeduntan’s tenure.
President Bola Tinubu has praised Dr. Adesola Adeduntan, the retired Group CEO of First Bank Nigeria Limited, for his service and achievements. A statement issued by Bayo Onanuga, Tinubu’s Special Adviser for Information and Strategy, highlighted the President’s appreciation for Adeduntan’s transformative role at Nigeria’s oldest bank.
Under Adeduntan’s leadership, FirstBank experienced remarkable growth, expanding customer accounts from 10 million in 2015 to over 42 million by 2023. Additionally, FirstBank’s Profit Before Tax soared from N10 billion to N300 billion during his tenure. The President noted that these accomplishments reflect Adeduntan’s visionary approach and commitment to excellence in Nigeria’s banking sector.
Celebrating a legacy at FirstBank
This weekend, FirstBank will host a send-off ceremony honoring Adeduntan’s nine-year tenure. Adeduntan’s resignation, announced in April 2024, came eight months before the end of his term, originally set to expire on December 31, 2024. The early departure marks the end of a period of growth and stability for the 130-year-old institution.
According to the statement, Tinubu commended Adeduntan’s readiness to serve Nigeria in critical capacities, including his roles with the Nigerian Economic Summit Group and other key institutions, contributing to the nation’s economic progress.
Seamless leadership transition
President Tinubu also acknowledged FirstBank’s effective management, which ensured a smooth leadership transition from Adeduntan to Olusegun Alebiosu, the current CEO. The President credited this transition to FirstBank’s strong internal management principles, which have kept the bank steady and adaptable through leadership changes.
The event not only highlights Adeduntan’s contributions to FirstBank but also reinforces his influence on Nigeria’s financial landscape, where his expertise continues to bolster the sector’s growth and stability.
