Adesola Adeduntan to become Balogun of Oyo
By Oladapo Sofowora Since his exit from First Bank Managing Director, Dr. Adesola Adeduntan, had seemingly recoiled into his shell, tending to business interests away from the spotlight that had
By Oladapo Sofowora
Since his exit from First Bank Managing Director, Dr. Adesola Adeduntan, had seemingly recoiled into his shell, tending to business interests away from the spotlight that had defined much of his career. But on Saturday, April 11, 2026, he will emerge once again, not in the glass towers of Lagos, but in the ancient, revered grounds of Oyo town, where he will be installed as the Balogun of Oyo land by the Alaafin of Oyo. It is a title once held by the late Dr. Victor Omololu Olunloyo, a renowned mathematician and former Governor of Oyo State.
For Adeduntan, an Ibadan-born son of a prominent Yoruba trader and a technocrat by training, the installation signifies not merely an honor but a profound homecoming a transition from the transient influence of corporate Nigeria to the enduring authority of traditional institution. The journey to this moment has been deliberate and quiet. Since his departure from First Bank, where he spent nearly a decade navigating Nigeria’s volatile banking sector, Adeduntan has been notably absent from the social columns and business circles that once clamored for his presence. Associates describe a man who, after years immersed in high-stakes finance, chose to retreat into the solitude of private ventures, carefully recalibrating his next moves away from the public eye. But those close to him say the silence was never idleness.
Behind the scenes, he had been cultivating relationships, strengthening ties in the Yoruba traditional establishment, and preparing for a role that would allow him to wield influence in a different sphere. The Balogun title, steeped in the martial and advisory traditions of Oyo, is not a mere ceremonial honor. It is a position of counsel, a role that demands strategic thinking and steady leadership that Adeduntan honed in the boardrooms where he presided over Nigeria’s oldest financial institution.
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In the weeks leading up to the installation, preparations in Oyo town have taken on a festive yet solemn character. The Alaafin’s sprawling palace complex, a centuries-old structure with intricate mud-brick walls and ornate carved wooden balconies, has been buzzing with activity. Chiefs, palace aides, and traditional artisans have meticulously finalized arrangements for what is expected to be one of the most anticipated chieftaincy ceremonies of the year. Traditional rites, including the libation ceremonies and the presentation of the staff of office, have been rehearsed multiple times.
The town itself is bracing for an influx of visitors, many of whom will travel from Lagos, Abuja, and other major Nigerian cities, testing the limits of Oyo’s modest hospitality infrastructure. The heightened activity revolves around Adeduntan’s curated guest list, which includes top captains of industry, business magnates, prominent socialites, and wealthy individuals many of whom have confirmed their attendance. This gathering signals a recognition of Adeduntan’s influence and network built over decades of high-profile banking and business dealings. As Saturday, April 11, 2026 approaches, anticipation in Oyo town continues to swell. For residents, the installation is a moment of collective pride and cultural reaffirmation amid Nigeria’s rapid modernization.
