Atedo Peterside

Atedo Peterside
Born	Template:Birth year and age Nigeria
Occupation(s)	Economist, investment banker, entrepreneur
Known for	Founder of Stanbic IBTC Bank Plc, Anap Business Jets Limited, Vanguard News, Anap Foundation

Atedo Peterside (born July 1955) is a distinguished Nigerian economist, investment banker, and entrepreneur. He is the founder of Stanbic IBTC Bank Plc, Anap Business Jets Limited (Anap Jets), and the Atedo N. A. Peterside Foundation (Anap Foundation).

Education

Peterside began his education at King's College Lagos at the age of 10. He obtained a Bachelor of Science degree in Economics from The City University, London between 1973 and 1976, followed by a Master of Science in Economics from the London School of Economics and Political Science in 1977. His executive education credentials include completion of the Owner/President Management Program at Harvard Business School from 1991 to 1993. He was awarded an honorary Doctor of Science degree by the University of Port Harcourt and was named an Honorary Fellow of the Chartered Institute of Stockbrokers in 2019.

Career

At age 33, in February 1989, Peterside established Investment Banking & Trust Company Limited (IBTC), where he held the position of CEO until 2007.

Following the Central Bank of Nigeria’s directive in 2005 requiring banks to hold a minimum capital of N25 billion, IBTC successfully raised funds and acquired Chartered Bank Plc and Regent Bank Plc. This led to the creation of a universal bank known as IBTC Chartered Bank Plc on 19 December 2005.

On 24 September 2007, IBTC Chartered Bank merged with Stanbic Bank Nigeria Limited, resulting in the formation of Stanbic IBTC Bank Plc. Peterside was appointed Chairman in October 2007.

He served as Group Chairman of Stanbic IBTC Holdings Plc from August 2012 until his resignation, effective 31 March 2017.

Presently, Peterside chairs Anap Jets FZE, which operates through Anap Business Jets Limited since January 2015. He was also a board member of The Standard Bank of South Africa Limited and Standard Bank Group Limited from August 2014 until his retirement on 10 June 2024.

Between 2007 and 2015, Peterside contributed as a member of Nigeria’s National Economic Management Team and from 2010 to 2015 served on the National Council on Privatization. Up until March 2020, he held board positions at Flour Mills of Nigeria, Nigerian Breweries, and Unilever Nigeria Plc. Additionally, he was Non-Executive Chairman of Cadbury Nigeria Plc from April 2010 to June 2020 before stepping down to concentrate on activities related to the Anap Foundation.

He holds a Non-Executive Directorship at ART X Collective Limited and participates on the African Advisory Board for the Prince's Trust International. From 2017 through June 2023, he chaired Endeavour High Impact Entrepreneurship Ltd/Gte, an organization dedicated to supporting companies scaling their operations.

In May 2022, Peterside was honored with the Lifetime Achievement Award at the African Banker Awards held in Accra, Ghana. He attributed the bank’s achievements to aligning all employees with its core mission and values from the outset.

Contribution to politics and public policy in Nigeria

Peterside has utilized his public influence to shape political discourse and policy development in Nigeria, engaging primarily in advisory capacities without occupying full-time governmental roles.

In response to the annulment of the June 12 elections in 1993, he was among three Conveners of Concerned Professionals who rallied professionals nationwide to advocate for democratic restoration.

He led the Committee on Corporate Governance of Public Companies responsible for drafting Nigeria’s inaugural Code of Best Practices for public companies in 2003.

During two terms (2007–2010 and 2011–2015), Peterside participated as a member of the National Economic Management Team. He also acted as honorary adviser to Rivers State’s Governor from 2007 to 2011 and served on the National Council on Privatisation (NCP) between 2011 and 2015, overseeing significant transactions including privatizations within the power sector. He chaired the Technical Committee under NCP.

In January 2012, Peterside publicly endorsed the removal of Nigeria’s petrol subsidy valued at N1.3 trillion, taking a pioneering position prior to widespread acceptance.

He represented the Federal Government as a delegate at the National Conference in 2014 and authored an op-ed in January 2017 proposing eleven strategic measures for economic recovery.

In March 2020, he declined an invitation from Nigeria’s Central Bank due to disagreement over the removal of Emir Muhammadu Sanusi II.

That same month, he launched the Anap Foundation COVID-19 Think Tank aimed at addressing challenges posed by the pandemic.

In May 2020, Peterside was appointed Co-Chairman alongside Nigeria’s Finance Minister for the Steering Committee overseeing the nation’s new National Development Plan. Later that year in September, he became Co-chairman for both Agenda 2050 and the five-year Development Plan (2021–25) inaugurated by President Buhari; his role concluded with Buhari’s administration in May 2023.

On October 23, 2020, Peterside delivered a pivotal interview discussing the #EndSARS protests and Lekki Toll Gate shootings. He condemned all forms of violence, criticized government actions including attempts to restrict bank accounts linked to protest supporters, and encouraged youth political engagement ahead of elections scheduled for 2023.

In November 2021, he released an influential article titled "2023 elections: Hitting rock bottom, finding a way up," offering insights into Nigeria’s political environment and future outlook.

The GoNigeria Initiative

GoNigeria is a non-profit campaign dedicated to encouraging Nigerian youth to participate actively in politics and to register to vote, beginning with the 2023 General Elections.

Launched by Atedo Peterside under the Anap Foundation in December 2021, the initiative’s objectives were outlined during an interview on Arise TV. The movement's initial cohort of 18 advocates spans all six geopolitical zones and features influential personalities such as Yemi Adamolekun, Tomiwa Aladekomo, Folarin Falana (Falz), Bishop Matthew Kukah, Arunma Oteh, and Aisha Yesufu.

The campaign's reach was further extended by well-known celebrities including Debo Adedayo (Mr. Macaroni), Mo Abudu, Kate Henshaw, Chioma Omeruah (Chigurl), Onyeka Onwenu, Oluwatosin Olaseinde, and Bovi Ugboma, who helped spread GoNigeria’s message widely.

To boost youth participation, the Anap Foundation sponsored various competitions offering prizes worth two million Naira each. These contests included the GoNigeria Poetry Challenge along with rap and comedy competitions held in English, Pidgin, Hausa, and Igbo languages, motivating young people across Nigeria’s 36 states to register and acquire their Personal Voters Cards (PVCs).

In December 2022, Peterside appeared on Channels Television's POLITICS TODAY program to share findings from the second Presidential Election Poll commissioned by Anap Foundation and conducted by NOIPolls. The survey revealed a close three-way contest among Labour Party’s Peter Obi, APC’s Bola Ahmed Tinubu, and PDP’s Atiku Abubakar, with NNPP’s Rabiu Kwankwaso lagging behind.

This evolving political landscape was largely credited to increased political awareness among Nigeria’s educated youth, a trend fueled by GoNigeria and similar efforts.

During an Arise TV interview in March 2023, Peterside highlighted irregularities in the electoral process, pointing out forged Presidential Election Result Sheets on the INEC IREV Server. He emphasized that it was premature to congratulate the President-Elect given ongoing legal disputes from key contenders.

Philanthropic work

Atedo Peterside established the Anap Foundation, a non-profit organization committed to advancing good governance, where he has served as President since 2003.

Anap Foundation COVID-19 Think Tank

On 18 March 2020, Peterside cautioned Nigerians on Channels Television about the escalating dangers of COVID-19 in Nigeria and called for strict government enforcement of quarantine regulations. Subsequently, on 22 March 2020, the Anap Foundation COVID-19 Think Tank was formed with eighteen volunteers drawn from Nigeria and its diaspora. This team brought together expertise spanning medicine, logistics, e-commerce, economics, finance, law, communications, religious studies, academia, advocacy, governance, and international disaster response.

The Foundation produced "Coronavirus Alert" materials translated into major Nigerian languages to educate the public. On 4 February 2021, it collaborated with media partners to initiate a Name and Shame campaign aimed at those violating COVID-19 safety guidelines.

National honours

In recognition of his contributions, Peterside was awarded the Commander of the Order of the Niger (CON) in 2010.

Personal life

Atedo Peterside holds the chieftaincy title Arusibidabo of the Opobo Kingdom. He is married to Dudun Peterside (née Pearce), and together they have three children, including Tokini Peterside who founded ART X Lagos.

His late father was Chief Michael Clement Atowari Peterside (Sunju IX) (1918–2016), an ophthalmologist and former Controller of Medical Services in Old Rivers State. He also served as head chief of the Sunju Peterside family in Opobo. Peterside’s mother, Patricia Awune Gboloba Bob-Manuel, descended from Abonnema’s royal lineage.

Among his personal interests are boating, polo, reading, and traveling.

Noteworthy Speeches and Interviews

• "Collective Accountability: Establishing and Maintaining Nigeria's Robust Economic Future" | Keynote address at the 25th Nigerian Economic Summit, Abuja (October 2019)
• "The Dark Side of Buhari and Jonathan" | Opinion piece in THISDAY Newspaper, January 27, 2015
• "The Essential Role of Business Aviation in Africa" | Interview with Chinedu Eze, THISDAY Newspaper, May 4, 2015
• "Avoiding Nine Critical Errors That Plague Nigeria" | Presentation at the National Conference, April 2014; featured in BusinessDay
• "An Open Letter to My Fellow Nigerians: Ensuring the Success of This National Conference" | Opinion article in THISDAY Newspaper, March 10, 2014
• "NIGERIA: TIME TO DELIVER | Opening remarks at the 5th Standard Bank West Africa Investors' Conference
• "Eleven Essential Steps for Rapid Economic Recovery" | Opinion editorial in Global Monitor, January 25, 2017
• "A Final Homage to Dad, Chief M C A Peterside" | Published in ThisDay, February 12, 2016
• "Honoring Otunba Balogun" | Businessday NG, May 31, 2023
• "Nigeria’s Elite Engaged in the 'State Capture' Game" | Businessday NG, April 3, 2023
• "Federal Government’s N90bn Hajj Subsidy: A Setback for Nigeria’s Economy" | Vanguard News, May 17, 2024
• "Atedo Peterside Criticizes N90bn Hajj Subsidy, Claims FG Sends Wrong Message" | TheCable, May 21, 2024
• "Rushing to Boost the Naira’s Value Won’t Yield Results" | Channels TV, May 16, 2024