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Adesola Kazeem Adeduntan – The CEO/MD Of First Bank Of Nigeria

Adesola Kazeem

Adesola Kazeem Adeduntan is an award-winning Nigerian financial guru. He is the Managing Director/Chief Executive Officer of the First Bank of Nigeria Limited and Subsidiaries. Dr. Adesola is also on the board of the Nigerian Economic Summit Group.

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Adesola Kazeem Adeduntan Background

Start Your Business in 30 Days Even If You Don't Have An Idea
Start Your Business in 30 Days Even If You Don’t Have An Idea

Dr. Adesola was born on the 7th of May 1969, in Ibadan, Oyo State, Nigeria, to Mr. and Mrs. Adeduntan. He had his primary education at the Ibadan Municipal Government Primary School (IMG), Adeoyo, in 1975. In 1981, he graduated and proceeded to Urban Day Grammar School, Old Ife Road, Ibadan, for his secondary education.

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While in secondary school, he was the deputy senior prefect in his final year. In 1986, Dr Adesola got admission to study Veterinary Medicine at the University of Ibadan and graduated as a veterinary surgeon in 1992.

He became a chartered accountant in the year 2000. Sometime in 2004, Dr. Adesola went for his Master’s degree studies, at the Cranfield School of Management and attained an MSc Bus. Admin, in 2005. During his Masters, he was a British Chevening Scholar.

Adesola Kazeem Adeduntan is married to Mrs Adenike Adeduntan, and they are blessed with three children.

Adesola Kazeem Adeduntan Career

Afribank Nigeria Plc And Arthur Andersen

After Adesola concluded his compulsory NYSC service year, he got a job at the main branch of Afribank (Nig) Plc, Ibadan, as a graduate trainee. He worked at Afribank for 18 months, carrying out different banking operations, including cash management, clearing, credit risk management, and foreign operations.

Dr Adesola left Afribank in September 1995 and started working with Arthur Andersen Nigeria. He rose to a managerial role in the firms’ financial department, before leaving the firm in May 2002.

As a manager, Dr Adesola pioneered and supervised the statutory audit of some leading Nigerian banks. Before he became a manager, he was the lead instructor of the local office basic accounting training and induction course in 1999. In 2000, he served as an instructor at the Andersen World-Wide induction training for new hires in Eindhoven, Netherlands.

Adesola Kazeem Adeduntan

KPMG Financial Services Industry

Dr Adesola eventually left Arthur Andersen to KPMG, as the senior manager, financial services industry from June 2002 – October 2004.

As a senior manager, he co-pioneered KPMGs’ financial risk management advisory services. He was also a KPMG-accredited trainer, and facilitated several internal training programs.

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Citibank Nigeria

Adesola left KPMG for his masters in 2004. After his masters, he joined Citibank Nigeria Limited, and became the Senior Vice-President (General Manager), and Chief Financial Officer for Citibank.

Go from idea to starting your business in 30 days
Go from idea to starting your business in 30 days

He was responsible for the financial and product control functions, quality assurance, and operational risk management of the bank. He eventually left Citibank in October 2007.

Africa Finance Corporation

After he left Citibank, he joined the Africa Finance Corporation as the Chief Financial Officer and Business Manager in November 2007.

Dr Adesola pioneered the team that secured an A3/P2 investment-grade international credit rating from Moody’s Investors Service. As a result, Africa Finance Corporation stood out as the second highest-rated lending financial institution in Africa.

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Adesola Kazeem Adeduntan And First Bank Nigeria Ltd

Dr Adesola was appointed the Executive Director/Group Chief Financial Officer of First Bank, in July 2014. As the Executive Director/Group CFO, he handled the banks’ financial control, internal control and enhancement, business performance management, treasury and procurement functions.

After 2years with First Bank, Dr Adesola was appointed the Managing Director of the bank, succeeding Bisi Onasanya. He resumed the role on the 4th of January 2016.

Dr Adesola’s office covers the banks’ commercial banking subsidiaries which include: FBN UK, FBN Ghana, FBN DRC, FBN Guinea, FBN Gambia, FBN Mortgages, and First Pension Custodian Limited.

Adesola Kazeem Adeduntan Quotes

“You can accomplish with kindness what you cannot accomplish with force. Create a kinder world as you start performing acts of random kindness!”

“The greatest formula to success is A+A=A; Attitude + Aptitude = Altitude.”

“I studied veterinary medicine but I had the vision to be in a board room. What you study now shouldn’t restrict your goals.”

“To start my career journey, the following process helped me; set a vision, have an aspiration, set a goal.”

“Find your role models in your specified field, extracting different qualities from them to form yours”

“One of the critical elements of success as you start your career is the ability to invent and reinvent yourself.”

“If you wait to be disrupted, the disruption will sweep you aside. Be part of the disruptive process.”

“Men and women of vision, conviction and character are required to man key portfolios especially Finance, Petroleum and Power.”

Adesola Kazeem Adeduntan’s Boards

  • He belongs to the board of the Nigerian Economic Summit Group.
  • Dr. Adesola is a non-executive director on the board of the Nigeria Interbank Settlement System (NIBSS).
  • Non-executive director on the board of the Africa Finance Corporation (AFC).
  • He is a non-executive director on the board of FBN Bank U.K. Ltd.
  • Dr. Adesola is a non-executive director on the board of Universal Payments Plc.
  • Non-executive director on the board of FMDQ OTC Securities Exchange.
  • Fellow of the Institute of Chartered Accountants of Nigeria.

Awards And Nominations Of Adesola Kazeem Adeduntan

  • Banker of the Year by the Leadership Newspaper – 2016
  • Most Cooperative FraudDesk award at the Nigerian Electronic Fraud Forum (NEFF) Annual Dinner and Awards – 2017
  • Best FraudDesk at the Nigerian Electronic Fraud Forum (NEFF) Annual Dinner and Awards – 2017
  • Global Finance at the World Best Bank Awards – 2018
  • Certificate of Recognition as a Hero/Mentor by the Oyomesi – 2018
  • The African Banker of the Year at the African Leadership Magazine Persons of the Year Award – 2018
  • Lifetime Achievement Award at the University of Ibadan 70th Foundation Anniversary – 2018
  • Best Chief Executive Officer of the Year at the Digital Innovation and Excellence Awards – 2019

Entrepreneurial Lesson From Adesola Kazeem Adeduntan

You Are Your Own Limitation

As an entrepreneur, no one should stop you from achieving your dream. No one can stop you from aiming high. You are your only limitation. Once you make a resolve and stand by it, nothing can stop you.

Dr Adesola studied veterinary medicine, but he had a dream to be in the boardroom. What did he do? He took courses that would make him relevant in the financial services industry.

Understand, Rome Wasn’t Built In A Day

All entrepreneurs must understand that Rome was not built in a day. Dr. Adesola started his career in the Nigerian financial industry as a graduate trainee. Gradually, he grew up the ladder, and today, he’s the CEO of First Bank of Nigeria.

Learn to take baby steps on your success journey. No one makes legit money overnight. You must start from somewhere and climb the ladder. If you are bringing value to the table, your work would definitely speak for you.

Are you doing something amazing in the entrepreneurial space and you want the world to hear about it? Entrepreneurs.ng will like to tell your story.

Image Credit: @AAdeduntan (Twitter), marketingedge.com.ng, africannetwork.jbs.cam.uk

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