Tinubu Hails Adeduntan’s Contributions to Nigeria, First Bank

By Modupe Gbadeyanka

The immediate past chief executive of First Bank of Nigeria Limited, Mr Adesola Adeduntan, has been commended by President Bola Tinubu for his contributions to the nation and the financial institution.

In a statement on Friday, November 1, 2024, Mr Tinubu, through his Special Adviser on Information and Strategy, noted that the country gained from the “exceptional service” of Mr Adeduntan at “Nigeria’s oldest bank.”

The veterinary doctor turned banker stepped down from the position this year after using his strategies to turn the fortune of the 130-year-old lender around for good.

During his time at the helm of affairs, he increased the customer accounts from 10 million to over 42 million and grew the company’s pre-tax profit from N10 billion in 2015 to N300 billion in 2023.

As a result of his outstanding performance at the banking institution, the management of First Bank has planned a send-off party for him this weekend.

In the statement, Mr Tinubu described the milestones of Mr Adeduntan at First Bank as a reflection of his “visionary leadership and commitment to excellence.,” wishing him “continued success in all his future endeavours.”

He thanked the retired banker for his “willingness to serve the nation in various pivotal roles, including his contributions to the Nigerian Economic Summit Group (NESG) and other prominent institutions. His extensive expertise in the financial sector has significantly bolstered Nigeria’s economic landscape.

President Tinubu also lauded the bank’s solid internal management ethos, which is responsible for the seamless transition from Adeduntan to the current CEO, Olusegun Alebiosu.