The ancient city of Oyo will host the installation of corporate leader and philanthropist Oloye Dr Adesola Kazeem Adeduntan as the new Balogun of Oyo on Saturday, September 5, 2026.
The installation marks a significant development in the traditional leadership structure of the Oyo Kingdom, where the Balogun title ranks among the highest chieftaincy offices and is historically associated with military leadership, courage, public service and counsel to the throne.
The ceremony was initially scheduled for July but was postponed following the abduction of pupils and teachers in Oriire Local Government Area of Oyo State.
The victims have since been reunited with their families, although the incident claimed two lives, prompting the postponement as a mark of respect and sensitivity to the tragedy.
Dr Adeduntan will succeed the late Dr Victor Omololu Olunloyo, former Governor of the old Oyo State, who held the prestigious title until his death.
The Balogun title occupies a prominent place within the traditional governance system of the Oyo Empire. Historically, the office was linked to the command of the kingdom’s military forces, but in modern times it has evolved into one that recognizes exemplary leadership, integrity, community service and commitment to the development of the Yoruba nation.
Born in Ibadan, Dr Adeduntan graduated with a Doctor of Veterinary Medicine degree from the University of Ibadan in 1992 before earning a Master of Business Administration from Cranfield University in the United Kingdom as a Chevening Scholar.
Over the course of his career, he built extensive experience in finance, corporate governance and strategic management through roles at Arthur Andersen, KPMG, Citibank, the Africa Finance Corporation, AFC, and FirstBank.
At the Africa Finance Corporation, he served as a pioneer Director and Chief Financial Officer, where he played a key role in developing the institution’s financial strategy.
During his tenure, AFC secured an A3 investment-grade rating from Moody’s in 2014, a milestone that strengthened the institution’s standing among international investors and development finance institutions.
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Dr Adeduntan was appointed Group Managing Director and Chief Executive Officer of FirstBank in January 2016, leading one of Nigeria’s oldest and largest financial institutions through a period of significant transformation.
Under his leadership, the bank expanded its digital banking capabilities, strengthened corporate governance, improved operational efficiency and deepened its presence across several African markets and the United Kingdom.
He retired from FirstBank in April 2024 after more than eight years at the helm and subsequently shifted his focus to long-term investment, institutional development and national economic growth.
He is the Founder and Chairman of Sequoia Holdings Limited, an investment group with interests spanning financial services, strategic minerals, professional services, energy and long-term investment platforms.
Its subsidiary, Sequoia Financial Services Limited, launched in early 2025, provides advisory and investment solutions to corporate, institutional and private clients.
Another subsidiary, Sequoia Minerals & Metals Limited, is developing a district-scale exploration portfolio across multiple Nigerian states, targeting critical minerals essential to the global energy transition.
In recognition of his experience in corporate leadership and institutional management, Oyo State Governor Seyi Makinde appointed him Pro-Chancellor of Abiola Ajimobi Technical University, Ibadan, in 2025.
A Fellow of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Bankers of Nigeria, Dr Adeduntan has also received honorary Doctor of Science degrees from Cranfield University and the University of Ibadan in recognition of his contributions to banking, finance and public service.
His installation as Balogun of Oyo will add to his existing traditional title of Apesinola of Ibadanland, further strengthening his ties to two of Yorubaland’s most historic cities.
The installation, to be presided over by the Alaafin of Oyo, Oba Abimbola Akeem Owoade I, is expected to attract traditional rulers, government officials, business leaders, academics and other prominent Nigerians, reflecting both the historical significance of the Balogun title and Dr Adeduntan’s stature in Nigeria’s corporate and public life.
