President Muhammadu Buhari has rejoiced with Group Managing Director/Chief Executive Officer of First Bank of Nigeria Plc, Dr Adesola Adeduntan, on recognition by Cranfield University, one of the most prestigious citadels of learning in Europe.
This was confirmed in a statement issued by Femi Adesina, Special Adviser to the President (Media and Publicity) on Monday.
According to the statement, which was seen by Nairametrics, Adeduntan will be conferred with Doctor of Science, Honoris Causa on Wednesday, June 22, 2022.
The President sends best wishes to Dr Adeduntan and family as he hoists Nigeria’s flag proudly to receive an honor Cranfield University says is being given “in recognition of your outstanding contribution to business.”
Report had gathered the stellar performance recorded by FBN Holdings Plc in it’s first quarter 2022 financial statement.
The Group posted a profit after tax of N32.44 billion for the first quarter on March 31, 2022, a 107.63% growth over N15.620 billion reported in 2021.
Profit before tax stood at N36.518 billion as against N8.905 billion in 2021, equally representing 93.16% growth.
The profit was boosted largely by interest income of N109.448 billion reported during the period under review as against N78.357 billion posted in 2021, accounting for an increase of 39.67%.
The interest income was generated from Investment securities which yielded N23,663 billion, loans and advances to banks which was N11,341 billion and loans and advances to customer which stood at N74,44 billion.
The Group had delivered a stellar performance growing gross revenue by 28.2% to N757.3 billion and profit before tax by 99.1% to N166.7 billion.
On Wednesday, June 22, 2022, Adeduntan will be conferred with Doctor of Science, Honoris Causa, and is expected to deliver a short address to the graduating class of the university, a development the President describes as “another testament to the fact that Nigeria is blessed with the brightest and the best in all areas of human endeavour.
The First Bank MD holds a Doctor of Veterinary Medicine from the University of Ibadan, a Master’s in Business Administration from Cranfield University, and is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), as well as the Chartered Institute of Bankers of Nigeria (CIBN).
Prior to this appointment as the GMD, he was Executive Director and Chief Financial Officer for the Bank. Before joining FirstBank in July 2014, Sola was a Director and the pioneer Chief Financial Officer/Business Manager of Africa Finance Corporation (AFC). He has served as a Senior Vice-President & Chief Financial Officer at Citibank Nigeria Limited, a Senior Manager in the Financial Services Group of KPMG Professional Services and a Manager at Arthur Andersen Nigeria.
He also had a brief stint at the defunct Afribank Nigeria Plc (now acquired by Skye Bank) as a graduate trainee where he worked mainly in banking operations. Over the course of his sterling career, he has garnered expertise in diverse areas of management including financial and risk management, treasury, performance management, strategy design and execution, Information Technology and Compliance.
Sola attended the University of Ibadan, where he obtained a Doctor of Veterinary Medicine (DVM) degree. He also holds a Master’s Degree in Business Administration (MBA) from Cranfield University Business School, United Kingdom which he attended as a “British Chevening Scholar.”