June 26, (THEWILL) – Adesola Adeduntan, the Group Managing Director and Chief Executive Officer of First Bank of Nigeria has bagged an honorary Doctorate of Science, Honoris Causa at Cranfield University, one of the most prestigious institution of learning in Europe.
The foremost banker was awarded the honorary doctorate degree in recognition of his outstanding contribution to business. The event took place on Wednesday, June 22. The bank CEO also delivered a short address to the graduating class of the University.
A few years after attending the Cranfield School of Management, the school recognised his impact on the business world, his resourcefulness and doggedness at the helm of the bank. During the convocation ceremony which took place on Wednesday, June 22, the bank CEO delivered a short address to the graduating class of the University. Adeduntan became the CEO of First Bank in 2016 but in 2021, he was removed as the Group Managing Director and CEO of the bank before the expiration of his term in office. No cogent reason was given by the board of directors for removing him other than the fact that they acted in the interest of the bank.
He was later reinstated a day after he was removed, by the Governor of Central Bank of Nigeria, Godwin Emefiele, who claimed to be unaware of any wrong-doing or misconduct on the part of Adeduntan and therefore declared that there was no justification for his removal.
The CBN governor went on to sack the entire board of directors of the bank, citing insider abuse and corporate governance breakdown as the reason for his action.
Adeduntan holds a doctorate degree in Veterinary Medicine from the University of Ibadan and a Master’s in Business Administration from Cranfield University. He is a Fellow of the Institute of Chartered Accountants of Nigeria and Chartered Institute of Bankers of Nigeria.
