Oba Otudeko (CFR) is a Nigerian entrepreneur. He is the founder and chairman of Honeywell Group, and is also the chairman of FBN Holdings Plc. He is also the founder of Oba Otudeko Foundation. He was awarded the Nigerian National Honour of Commander of the Order of the Federal Republic (CFR) in 2011. This was after being awarded Officer of the Order of the Federal Republic (OFR) in November 2002 and Member of the Order of the Federal Republic (MFR) in December 2000
Oba Otudeko was born on the 18th of August, 1943 in Ibadan, Oyo State, Nigeria. He received education from notable tertiary institutions which suggests that he may have been born into an influential family. He got a degree in Accountancy from the Leeds College of Commerce Leeds, Yorkshire, United Kingdom which today has been merged with the Leeds Beckett University. Oba Otudeko is a professional Chartered Banker, Chartered Accountant and also a Chartered Corporate Secretary, Otudeko is obviously a man that values education and that took his time in seeking and attaining it. He is also an alumnus of Harvard Business School. Oba Otudeko is married to Adebisi Aderonke Otudeko.
Oba Otudeko has been in the banking profession for 23 years, subsequently occupying the offices of the General Manager and acting Chief Executive Officer of the then Cooperative Bank, and retiring in 1983. He was appointed him a Director to the Board of the Central Bank of Nigeria by the federal government.
Dr. Oba Otudeko, was Group Chairman, FBN Holdings Plc. He was, at various times, Chairman, First Bank of Nigeria, FBN Bank (UK) Limited, Airtel Nigeria and Fan Milk of Nigeria Plc. He has also served on the Boards of Central Bank of Nigeria (1990 – 1997), Guinness Nigeria Plc (1999 – 2003), British American Tobacco Ltd (2001 – 2004) and Ecobank Transnational Incorporated, headquartered in Lome, Togo (2002 – 2010).
Between September 2006 and August 2009, he was the 16th President and Chairman of Council of the Nigerian Stock Exchange. Professionally, he is a chartered banker, chartered accountant and chartered corporate secretary.
The Honeywell Group was founded in 1972. The Group initially began operations as a trading concern, importing and marketing commodities such as: baking yeast, stock fish, glass and steel rods, among others. Today, the Honeywell Group has evolved into a diversified enterprise with businesses across major sectors of the Nigeria economy, namely: foods & agro-allied; real estate, infrastructure, energy and services. Through additional portfolio investments, the Group is also a significant provider of capital to other sectors of Nigeria’s economy including financial services, telecommunications, and security management.
Achievement and Accolade
Oba Otudeko was elected the 16th President of the Nigerian Stock Exchange in September 2006, and tried to transform the Nigerian capital market. In addition to the Honeywell Group, Oba Otudeko is also Chairman of FBN Holdings Plc and has, at various points, been Chairman Airtel Nigeria Limited and Fan Milk of Nigeria Plc. He was on the Board of First Bank of Nigeria Plc for 12 years, retiring as the Chairman in 2010. 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.
Oba Otudeko was Chairman of the Nigerian-South African Chamber of Commerce (NSACC) and aimed to facilitate investment flows into Nigeria. 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. He was also on the Board of the NEPAD Business Group – Nigeria.
He was Chairman of the Business Support Group (BSG) for delivery of the National Integrated Infrastructure Master Plan (NIIMP). In 2013, he was also appointed the chairman of the Digital Africa Conference Exhibition in Abuja, Nigeria.
From 2001 to 2010, he was Chancellor of the Olabisi Onabanjo University, Ago-Iwoye, Ogun State.
Oba Otudeko’s awards include: Honorary Doctor of Science (D.Sc.) from Olabisi Onabanjo University, Ago-Iwoye. Honorary Doctor of Science in Banking and Finance from Crescent University, Abeokuta, Ogun State. Honorary Doctor of Science Degree (D.Sc.) from Ajayi Crowther University, Oyo Town, Oyo State; Entrepreneur of the Year Award at the ThisDay Awards in 2009. Ernst & Young Lifetime Achievement Award; Leadership Newspaper Business Person of the Year 2015; Silverbird Extraordinary Lifetime Achievement Award and recently, the 2016 Africa CEO Forum’s Africa CEO of the Year Award.
He is married to Mrs Adebisi Aderonke Otudeko and is the founder of Oba Otudeko Foundation
Lesson from Oba Otudeko
- Entrepreneurship is not an easy road It’s slippery.
- The future is not an inheritance, it’s an opportunity and an obligation.
- The empires of the future are actually the empires of the mind
- Our Future is bright we should not allow our challenges to diminish our confidence.