Adesola Kazeem Adeduntan
Adesola Kazeem Adeduntan | |
|---|---|
| Born | May 7, 1969 Ibadan, Oyo State, Nigeria |
| Occupation | Banking executive |
| Years active | 1995–present |
| Known for | Group CEO of First Bank of Nigeria Limited and FirstBank Group |
Adesola Kazeem Adeduntan (born 7 May 1969) is a seasoned Nigerian executive with more than three decades of experience in the financial industry. He held the position of Group CEO at First Bank of Nigeria Limited and its affiliated entities (FirstBank Group), which encompass FirstBank Nigeria, FirstBank UK, FirstBank Ghana, FirstBank DRC, FirstBank Guinea, FirstBank Gambia, FirstBank Senegal, FirstBank Sierra Leone, First Pension Custodian Nigerian Limited, and First Nominees Ltd. Throughout his leadership, he spearheaded efforts to modernize operations, broaden digital offerings, and accelerate growth both within Nigeria and internationally.
Early life and education
Born in Ibadan, Oyo State, Nigeria, Adeduntan obtained a Doctor of Veterinary Medicine (DVM) degree from the University of Ibadan between 1986 and 1992. He later earned an MBA from Cranfield University in 2005 as a recipient of the British Chevening Scholarship. In recognition of his achievements, Cranfield conferred upon him an Honorary Doctorate of Science in 2022. Both Cranfield University and the University of Ibadan have honored him as one of their Most Distinguished Alumni.
He has also completed executive education courses at prestigious institutions such as Harvard Business School, Stanford University, and Wharton School. Adeduntan holds Fellowship status with the Institute of Chartered Accountants of Nigeria as well as the Chartered Institute of Bankers of Nigeria.
Career
KPMG (1995–2005) Adeduntan began his professional journey at KPMG (previously Arthur Andersen), advancing to Senior Manager within the Financial Services division. He directed strategic initiatives, audits, mergers and acquisitions, and process optimization projects for leading Nigerian banks.
Citibank (2005–2007) In his role as Senior Vice-President & CFO at Citibank Nigeria, he oversaw financial management and led efforts to recapitalize the bank in compliance with regulatory standards.
African Finance Corporation (2007–2014) As Director, CFO & Business Manager at AFC, he managed treasury and financial operations while playing an instrumental role in capital raising activities.
FirstBank Group (2014–2024) Adeduntan joined First Bank as Executive Director and Group CFO in 2014 before ascending to CEO in 2016. His leadership emphasized enhancing operational productivity, expanding digital banking platforms, restructuring the balance sheet, and driving international expansion across Africa, the United Kingdom, and China. Under his guidance, First Bank grew its digital user base and agency footprint while lowering Non-Performing Loans (NPLs) and boosting profitability.
Pro-Chancellor and Chairman Appointment at Technical University, Ibadan After concluding his tenure at First Bank Nigeria Limited, Adeduntan was named Pro-Chancellor and Chairman of Technical University, Ibadan (TECH-U). This appointment supports government initiatives focused on advancing academic standards, upgrading infrastructure, and elevating global competitiveness. His stewardship is anticipated to enhance governance frameworks, secure increased funding, and foster technological advancement at TECH-U.
Board Roles and Professional Affiliations Adeduntan has held board positions with:
- Chartered Institute of Bankers of Nigeria
- Nigeria Inter-Bank Settlement System Plc (NIBSS)
- Shared Agent Network Expansion Facilities (SANEF) Limited
- Lagos State Security Trust Fund
- Nigerian Economic Summit Group
- Africa Finance Corporation (AFC)
- FirstBank UK Ltd.
- FMDQ OTC Securities Exchange
- Sigma Educational Foundation
Additionally, he is a member of the Bretton Woods Committee, promoting global economic collaboration.
Awards and recognition
Adeduntan has been honored with a variety of awards that highlight his leadership within digital and retail banking sectors. His achievements have been acknowledged by prestigious entities such as Global Finance Magazine, World Finance, Leadership Newspaper, and The Banker. These distinctions cover categories including Best Bank, Bank of the Year, and advancements in banking technology innovation. Additionally, he has received honorary accolades for his impact on economic growth. Notable awards include:
| Year | Award | Issuing Organization |
|---|---|---|
| 2016 | Best Bank in Nigeria | Global Finance Magazine |
| 2016 | Best Private Bank | World Finance |
| 2016 | Digital Bank of Distinction | Global Finance Magazine |
| 2017 | Best Private Bank Nigeria | World Finance |
| 2017 | Most Innovative Bank Nigeria | International Finance Magazine |
| 2018 | Best Mobile Banking App Nigeria | Global Business Outlook Awards |
| 2018 | Most Innovative Bank in Nigeria | World Business Outlook Awards |
| 2018 | Bank of the Decade | Business Journal |
| 2019 | Bank of the Year Nigeria | International Investor |
| 2019 | Best Mobile Banking App Nigeria | Global Business Outlook |
| 2020 | Best Digital Bank in Nigeria | Digital Banker Africa |
| 2020 | Best Private Bank in Nigeria | Global Finance |
| 2021 | Best Banking Brand Nigeria | Global Brand Award |
| 2021 | Best Core Banking Implementation in Africa | Asian Banker Awards |
| 2022 | Retail Banking CEO of the Year | World Business Outlook |
| 2022 | Best Commercial Bank Executive | Capital Finance International |
| 2022 | Best Corporate Bank in Nigeria | Euromoney |
| 2022 | Best Corporate Bank in West Africa | Bankers Award |
| 2023 | African Bank of the Year | Africa Leadership Magazine |
| 2023 | Financial Institution of the Year | Afrexim Bank |
| 2023 | Best Private Bank in Nigeria | World Finance |
| 2023 | Best Corporate Bank in Nigeria | Euromoney |
Personal life
Adesola Adeduntan is married and has children.