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Oyo Honours Former FirstBank CEO Adeduntan With Balogun Title

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The ancient city of Oyo witnessed a colourful display of culture and tradition on Saturday as the Alaafin of Oyo, His Imperial Majesty, Oba Akeem Owoade, formally installed former FirstBank Group Managing Director and Chief Executive Officer, Dr Adesola Adeduntan, as the new Balogun of Oyo.

The installation ceremony, held at the Alaafin’s Palace, attracted traditional rulers, government officials, dignitaries, chiefs and indigenes of Oyo Kingdom.

Adeduntan succeeds the late Dr Victor Olunloyo, a former Governor of the old Oyo State, who previously occupied the prestigious title.

The Alaafin, while performing the installation, described the Balogun stool as one of the most revered traditional offices in the historic Oyo Empire.

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According to Oba Owoade, the office has historically been associated with courage, leadership and the defence of the kingdom.

He charged the newly installed Balogun to uphold the values attached to the traditional institution and bring his wealth of experience to bear on the development, peace and unity of Oyo Kingdom.

Responding, Adeduntan expressed appreciation to the Alaafin and the people of Oyo for finding him worthy of the traditional honour.

He pledged to serve with humility, integrity and dedication while contributing to the advancement of Oyo Kingdom and Yorubaland.

The former banking executive currently serves as Pro-Chancellor and Chairman of the Governing Council of Abiola Ajimobi Technical University, Ibadan. He is also the Apesin Ola of Ibadanland.

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President Bola Tinubu had, in a congratulatory message issued ahead of the ceremony, described Adeduntan’s installation as an opportunity for greater service.

The President urged him to use his new position to promote peace, development and the preservation of Yoruba cultural heritage.

The installation had initially been scheduled for July 18 but was postponed in honour of victims of the Oriire abduction.

Among the prominent traditional rulers who attended Saturday’s ceremony was the Olubadan of Ibadanland, Oba Rashidi Ladoja, and the Oluwo of Iwo, Oba Abdulrasheed Akanbi.

The ceremony featured traditional drumming, prayers and the presentation of homage by members of the Oyomesi and other traditional title holders.

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The appearance of Oba Ladoja at the palace was particularly notable as it marked his first known visit to Oyo town since the coronation of Oba Owoade as Alaafin.

The occasion also provided an opportunity for the two senior traditional rulers to meet publicly following reports of perceived differences arising from an earlier public gathering.

Oba Ladoja had previously explained that the incident in question was not intended as a snub.

Saturday’s meeting was therefore seen as an important moment for reinforcing unity, mutual respect and cooperation among traditional institutions in Oyo State.

The gathering also underscored the historic relationship between Ibadanland and Oyo, two important centres of Yoruba history, culture and traditional authority.

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Several government officials and traditional chiefs who spoke at the event described Adeduntan’s installation as significant and timely, expressing optimism that his experience in the corporate and public spheres would benefit the kingdom.

The new Balogun is expected to play a prominent role in supporting initiatives aimed at advancing the development, peace and cultural heritage of Oyo Kingdom.

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