Dr. Adesola Adeduntan Installed as Balogun of Oyo

Dr. Adesola Adeduntan has been installed as the Balogun of Oyo by the Alaafin, Oba Abimbola Owoade I, in a ceremony held at the Alaafin’s Palace. This title, historically associated with military leaders of the old Oyo Empire, is now held by Adeduntan, whose career is rooted in banking.

He served over eight years as Group CEO of FirstBank, the longest tenure in the bank’s modern history, during which the bank's non-performing loan ratio decreased from over 24% to single digits, and its customer base expanded from approximately 10 million to over 42 million. Adeduntan previously worked as the pioneer Chief Financial Officer of the Africa Finance Corporation, securing a high A3 credit rating from Moody’s.

He trained as a veterinary doctor at the University of Ibadan and holds an MBA from Cranfield University in the UK. His wife, Chief Mrs. Adenike Adeduntan, was also installed as Yeye Balogun of Oyo.

The ceremony symbolized reconciliation between the Alaafin and the Olubadan of Ibadanland, Oba Rashidi Ladoja. President Bola Ahmed Tinubu congratulated Adeduntan, viewing the elevation as a call to greater service.