Biography of Adesola Kazeem Adeduntan

Adesola Kazeem Adeduntan (born 7 May 1969) is a Nigerian business leader with over three decades of experience in the financial industry. He served as the Group Chief Executive Officer of First Bank of Nigeria Limited and its subsidiaries (FirstBank Group), which include operations in Nigeria, the UK, Ghana, DRC, Guinea, Gambia, Senegal, Sierra Leone, and other entities like First Pension Custodian Nigeria Limited and First Nominees Ltd. During his tenure, he spearheaded transformative initiatives, expanded digital services, and oversaw the bank’s domestic and international growth.

Early Life and Education
Born in Ibadan, Oyo State, Adeduntan earned a Doctor of Veterinary Medicine (DVM) from the University of Ibadan in 1992. In 2005, he obtained an MBA from Cranfield University as a British Chevening Scholar. In 2022, Cranfield awarded him an Honorary Doctorate of Science, recognizing his achievements. Adeduntan was also honored as the Most Distinguished Alumni by both Cranfield University and the University of Ibadan.

He has attended advanced executive programs at prestigious institutions, including Harvard Business School, Stanford University, and the Wharton School. He is a Fellow of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Bankers of Nigeria.

Career Highlights
KPMG (1995 – 2005)
Adeduntan started his career at KPMG, rising to Senior Manager in the Financial Services division. He contributed to projects involving strategy, audits, mergers & acquisitions, and process improvement for major Nigerian banks.

Citibank (2005 – 2007)
As Senior Vice-President & Chief Financial Officer at Citibank Nigeria, he played a key role in recapitalizing the bank to meet regulatory capital requirements and managed critical financial operations.

Africa Finance Corporation (2007 – 2014)
Adeduntan served as Director, Chief Financial Officer & Business Manager at the Africa Finance Corporation (AFC), overseeing the finance and treasury division. He was instrumental in securing funding for the corporation.

FirstBank Group (2014 – 2024)
Joining First Bank of Nigeria in 2014 as Executive Director/Group CFO, Adeduntan became CEO in 2016. Under his leadership, the bank:

Enhanced operational efficiency.
Expanded its digital banking footprint.
Restructured its balance sheet.
Grew its international presence, including operations in China and multiple African countries.
He championed digital initiatives, increasing the bank’s digital customer base and agency banking network. Adeduntan also significantly reduced the bank’s Non-Performing Loans (NPLs), improving profitability.

Board Memberships and Affiliations
Adeduntan has held positions on the boards of several organizations, including:

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
He is also a member of the Bretton Woods Committee, advocating for global economic cooperation.

Awards and Recognition
Adeduntan has received numerous accolades for his contributions to banking and economic development, including recognition from:

Global Finance Magazine
World Finance
Leadership Newspaper
The Banker
His work in digital and retail banking earned First Bank several “Best Bank” and “Bank of the Year” awards during his tenure.

Personal Life
Adeduntan is married and has three children.