Chief Ayoola Oba Otudeko CFR

Born: 18 August 1943, Ibadan, Oyo State, Nigeria Nationality: Nigerian Ethnicity: Yoruba (Omoba – prince of a royal family) Current Role: Founder & Chairman, Honeywell Group Past Roles: Chairman of FBN Holdings, President of the Nigerian Stock Exchange Council, Chancellor of Olabisi Onabanjo University

Early Life & Education

• Born into a Yoruba royal family in Ibadan.

• Mother was a businesswoman, instilling entrepreneurial values early.

• Attended St. John’s School, Oke-Agbo (Ijebu-Igbo) and Olivet Baptist High School, Oyo.

• Studied Accountancy at Leeds College of Commerce, UK (now Leeds Beckett University).

• Professional qualifications: Chartered Banker, Chartered Accountant, Chartered Corporate Secretary.

• Completed executive programs at IMD (Switzerland), Harvard Business School, and Hult International Business School.

Career Journey

• Cooperative Bank, Ibadan (1960s–1983):

  • Joined at 17 as an accounts clerk.

  • Became manager at 21, later Senior Accountant, General Manager, and Acting CEO.

  • Retired in 1983.

• Central Bank of Nigeria (1990–1997):

  • Served as Director on the Board.

• Honeywell Group (1970s–present):

  • Founded Honeywell Enterprises in the 1970s as a trading company.

  • Expanded into food manufacturing, oil & gas, energy services, telecoms, financial services, hospitality, and real estate.

  • Led consortium that secured one of Nigeria’s first GSM licenses (Econet, now Airtel Nigeria).

  • Made the first mobile phone call in Nigeria (2001).

  • Sold Honeywell’s stake in Airtel Nigeria to Bharti Airtel in 2013.

• Leadership Roles:

  • Chairman, First Bank of Nigeria – oversaw transformation into FBN Holdings.

  • President, Nigerian Stock Exchange Council (2006–2009).

  • Board member/director at Fan Milk Nigeria, Airtel Nigeria, Guinness Nigeria, Ecobank Transnational Inc.

  • Member of the Constituent Assembly (1988–1989) – contributed to drafting Nigeria’s constitution.

Achievements & Contributions

• Economic Development:

  • As Chairman of the Nigerian-South African Chamber of Commerce (NSACC), grew bilateral trade from $16.5 million (1999) to $2.9 billion (2010).

  • Chaired the Business Support Group (BSG) for Nigeria’s National Integrated Infrastructure Master Plan.

  • Chaired the Digital Africa Conference Exhibition (2013).

• Education & Advocacy:

  • Chancellor of Olabisi Onabanjo University (2001–2010).

  • Founder of the Oba Otudeko Foundation, supporting education, healthcare, and entrepreneurship.

Awards & Honors

• National Honors:

  • Member of the Order of the Federal Republic (MFR, 2002).

  • Officer of the Federal Republic (OFR, 2002).

  • Commander of the Order of the Federal Republic (CFR, 2011).

  • National Productivity Order of Merit (NPOM, 2019).

• Academic Honors:

  • Honorary Doctor of Science (D.Sc.) – Olabisi Onabanjo University.

  • Honorary D.Sc. in Banking & Finance – Crescent University, Abeokuta.

  • Honorary D.Sc. – Ajayi Crowther University, Oyo.

• Business Awards:

  • Entrepreneur of the Year – ThisDay Awards (2009).

  • Ernst & Young Lifetime Achievement Award.

  • Leadership Newspaper Business Person of the Year (2015).

  • Silverbird Extraordinary Lifetime Achievement Award.

  • Africa CEO Forum’s Africa CEO of the Year Award (2016).

Personal Life

• Married to Mrs. Adebisi Aderonke Otudeko.

• Known for his philanthropy and commitment to education, entrepreneurship, and national development.

Quick Facts

In summary: Oba Otudeko is a visionary entrepreneur and corporate leader, credited with pioneering Nigeria’s telecom revolution, transforming First Bank, and building Honeywell Group into a diversified conglomerate. His influence spans finance, telecoms, energy, education, and philanthropy, making him one of Nigeria’s most impactful business figures.