Oba Otudeko

Oba Otudeko CFR is a Nigerian businessman who serves as the founder and chairman of the Honeywell Group.[1][2] He was a former chairman of FBN Holdings and founder of the Oba Otudeko Foundation.[3][4][5][6] As of June 2017, his estimated net worth was US$550 million.[7]

Omoba

Oba Otudeko

CFR
Born
Oba Otudeko

(1943-08-18) 18 August 1943
Ibadan, Oyo State, Nigeria
NationalityNigerian
Alma materOlivet Baptist High School
Leeds College of Commerce
Harvard University
Hult International Business School
OccupationChairman of Honeywell Group
Years active1972—present

Early life and education

Ayoola Oba Otudeko was born in Ibadan, Oyo State, South-West Nigeria on 18 August 1943 to a royal family, thus making him an Omoba of the Yoruba people.[8] His mother was a business woman.[9] He studied at St. John's School,Oke Agbo, Ijebu-Igbo in Ogun State, and Olivet Baptist High School, Oyo.[9] Later, he studied Accountancy at the Leeds College of Commerce Leeds, Yorkshire, United Kingdom (which is now part of the Leeds Beckett University).[10] Professionally, Oba Otudeko is a Chartered Banker, Chartered Accountant and a Chartered Corporate Secretary.[11]

Oba Otudeko has also attended executive management training programmes at International Institute for Management Development (IMD), Harvard Business School and Hult International Business School (then known as Arthur D. Little School of Management).[12]

Career

Banking career

Oba Otudeko was in bank employment for 23 years, rising to become the General Manager and acting Chief Executive Officer of then Cooperative Bank,[13] Ibadan. He retired from the bank in 1983.[9] The Federal government of Nigeria appointed him a Director to the Board of the Central Bank of Nigeria.[14]

Honeywell Group

In the 1970s, Oba Otudeko founded Honeywell Enterprises.[9] The trading enterprise company later grew into Honeywell Group, a diversified industrial, trading and investment conglomerate.[8][15]

Achievements and awards

Oba Otudeko was elected the 16th President of the Nigerian Stock Exchange in September 2006, and tried to transform the Nigerian capital market.[16] In addition to the Honeywell Group, Oba Otudeko was also Chairman of FBN Holdings Plc and has, at various points,[17] been Chairman of Airtel Nigeria Limited and Fan Milk of Nigeria Plc.[18] He was on the Board of First Bank of Nigeria Plc for 12 years, retiring as the Chairman in 2010.[19] He has also held directorship positions in private companies operating in real estate, international trade and finance, and brewing, including Guinness Nigeria and Ecobank Transnational Inc.[20]

Oba Otudeko was Chairman of the Nigerian-South African Chamber of Commerce (NSACC) and aimed to facilitate investment flows into Nigeria.[21] During his tenure as the NSACC Chairman, the volume of Nigeria-South Africa bilateral trade grew significantly from $16.5 million in 1999 to $2.9 billion in 2010.[21] He was also on the Board of the NEPAD Business Group – Nigeria.[22]

He was Chairman of the Business Support Group (BSG) for delivery of the National Integrated Infrastructure Master Plan (NIIMP).[23] In 2013, he was also appointed the chairman of the Digital Africa Conference Exhibition in Abuja, Nigeria[24]

From 2001 to 2010, he was Chancellor of the Olabisi Onabanjo University, Ago-Iwoye, Ogun State[25]

Oba Otudeko's awards include: Honorary Doctor of Science (D.Sc.) from Olabisi Onabanjo University, Ago-Iwoye.[26] Honorary Doctor of Science in Banking and Finance from Crescent University, Abeokuta, Ogun State.[27] Honorary Doctor of Science Degree (D.Sc.) from Ajayi Crowther University, Oyo Town, Oyo State;.[28] Entrepreneur of the Year Award at the ThisDay Awards in 2009.[29] Ernst & Young Lifetime Achievement Award;[30] Leadership Newspaper Business Person of the Year 2015;[31] Silverbird Extraordinary Lifetime Achievement Award and recently, the 2016 Africa CEO Forum's Africa CEO of the Year Award.[32]

Personal life

He is married to Mrs Adebisi Aderonke Otudeko and he is the founder of the Oba Otudeko Foundation.[33][34]

References
  1. "Oba Otudeko". www.forbes.com. Retrieved June 4, 2017.
  2. "Oba Otudeko". Forbes. Retrieved 2018-01-15.
  3. "Otudeko, FBN Holdings Group Chairman leads Conversation at the Africa CEO Forum 2017". www.proshareng.com. March 21, 2017.
  4. "Founder: Dr. Oba Otudeko". obaotudekofoundation.org.
  5. Agekameh, Dele (30 March 2016). "Oba Otudeko: Celebrating an Icon". The Nation newspaper. Retrieved 28 March 2017.
  6. "Otudeko Bags Business Person Of The Year Award". Uncova. December 19, 2015.
  7. "Top 50 richest in Africa". Forbes.com. 2 June 2017. Retrieved 2 June 2017.
  8. Fick, David (2006). Africa: Continent of Economic Opportunity (First ed.). Johannesburg, South Africa: STE Publishers. p. 63. ISBN 1-919855-44-0. Retrieved 3 April 2017.
  9. "Oba Otudeko: A self-made billionaire entrepreneur". Nairametrics. 2020-08-15. Retrieved 2021-09-22.
  10. "Oba Otudeko". Forbes.com.
  11. "Oba Otudeko Biography, Profile, CEO Honeywell Group". Recordsng.
  12. "Dr. Oba Otudeko, CFR". lbsafricaclub.org.
  13. "Billionaire mogul, Oba Otudeko on why Honeywell is succeeding". Encomium. January 20, 2016. Retrieved May 19, 2017.
  14. "Biography of Oba Otudeko; Entrepreneur Chartered Accountant; Billionaire". Nigerianbiography.com.
  15. "HONEYWELL GROUP, COMPANY, IKOYI". Lagos.all.biz. Retrieved June 4, 2017.
  16. "Otudeko lists achievement at NSE". Vanguard. August 11, 2009.
  17. "THISDAYLIVE". THISDAYLIVE. Retrieved 2022-03-10.
  18. "Oba Otudeko becomes Chairman of Zain Nigeria". Proshareng.com. Retrieved May 22, 2017.
  19. "Otudeko, 3 non-executive directors retire from First Bank". Vanguard Newspaper. 31 December 2010.
  20. Komolafe, Babajide (8 April 2016). "Oba Otudeko chairs Vanguard's PERSONALITY OF THE YEAR AWARDS". Vanguard Newspaper. Retrieved 30 March 2017.
  21. "FOLUSO PHILLIPS BECOMES NEW CHAIRMAN OF NIGERIAN-SOUTH AFRICAN CHAMBER OF COMMERCE". Nigeria South Africa Chamber of Commerce. Nigeria South Africa Chamber of Commerce. Retrieved 4 April 2017.
  22. "Nigeria, South African Trade Hits N43.5bn". Tide News Online. July 7, 2011.
  23. "Nigeria Integrated Infrastructure Master Plan".
  24. "Otudeko Chairs Digital Confab". The Nation. February 14, 2013.
  25. Mbamalu, Marcel. "Otudeko is Africa's best chief executive for 2016". guardian.ng.
  26. Ilesanmi, Funmi (December 21, 2009). "Otudeko Emerges FirstBank Chairman". nigeriancommunicationsweek.com.ng.
  27. Katib, Idris (October 27, 2013). "CRESCENT UNIVERSITY GRADUATES 141, HONOURS OTUDEKO, LEMU, OTHERS". thenigerianvoice.com.
  28. "Gowon, Otudeko, Alaafin, 3 others bag Doctorate degrees at Ajayi Crowther varsity". Daily Trust. November 22, 2017.
  29. "ThisDay Awards 2009 – Festival of Ideas: Speakers & Winners". January 21, 2009.
  30. "Ernst & Young Honours Honeywell Group's Chairman". Honeywell Group Official Website. Retrieved May 22, 2017.
  31. "Otudeko bags Leadership Newspapers Business Person of the Year award". Leadership Newspaper. December 18, 2015.
  32. "Dangote, Otudeko win big at Africa CEO awards". The Cable. Retrieved May 22, 2017.
  33. "Honeywell Flour Mills Plc (HONYFLOU:Lagos)". bloomberg.com.
  34. "Oba Otudeko Foundation". obaotudekofoundation.org.
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