Of a truth some are born great, others achieve greatness, while others still have greatness thrust upon them. But rarely do we have these three attributes combined so well in an individual, as is the case in our Dr. Erastus Bankole Oladipo Akingbola.
Born at Okeigbo on the 26th of October 1950, Erastus Akingbolaa had his early upbringing in Ondo State. He attended the famous Christ School, Ado Ekiti, where he finished with flying colours; and sought a job to assist his parents, preparatory to further studies. Fate smiled on him in 1971 when he secured appointment with Union Bank of Nigeria Ltd. As a Bank clerk, he proceeded soon after to register for a professional course in Banking. This he did on a part-time basis, while in service; and through diligent commitment he soon earned the Associate Diploma of the Institute of Bankers (AIB) London, by 1975.
He proceeded with determination to read for the Associateship Diploma of the Chartered Institute of Secretaries and Administrators (ACIS). This he secured by 1981, while progressing steadily in his banking career.
Not content with his qualifications so far, Erastus Akingbola, now a Professional Banker, proceeded to enroll with the University of Lagos for a Post graduate course in Business Administration. By 1986, he had successfully completed the course, and bagged his Master of Business Administrations (MBA) in general Management. Other additional qualifications attained by our Dr. Akingbola include OPM Certificate of the Harvard Business School (2000), and a rather rewarding Diploma in Theology (2002).
Meantime, as his professional and career profile rose in the Banking and Management sectors, Erastus Bankole Akingbola, by dint of hard work and dedication, rapidly gained more affiliations with various professional bodies. For instance, he became a Fellow of the Chartered Institute of Bankers of Nigeria in 1988; Fellow of the Nigerian Institute of Management (1996); Fellow, Institute of Chartered Secretaries and Administrators in 1998; Fellow, Institute of Directors (2005), more recently, Fellow of the Institute of Operations Research (2007), and most recently, Fellow of The Chartered Institute of Arbitrators
Like his educational career, Erastus Akingbola’s work experience spans a wide but impressive range. From 1971 - 1977 he served with Union Bank of Nigeria Ltd, being involved mainly in Commercial Banking. Then he joined NAL Merchant Bank late in 1977 and got into an Investment Banking career. This lasted up to 1984 during which time he rose from the position of an Executive Assistant to the then Operations Manager (1977) to Senior Executive Assistant (1979); then Assistant Manager in the International Division (1982). By December 1984, Erastus Akingbola was promoted Senior Manager, International Operations and Correspondent Banking.
He served in this position up till February 1987 when he left NAL to join yet another Investment Banking giant, the First City Merchant Bank Limited, as Controller of Operations. The turning point came in February 1989 he took the momentous decision and joined three other investors to float the Intercontinental Bank Plc and become the founding Managing Director/Chief Executive of the Bank. Yes, of a truth, there comes a tide in the lives of men, which when seized, translates into glory. So it was with Erastus Bankole Oladipo Akingbola.
OF A TRUE ERASTUS AKINGBOLA MOVED FROM GOOD TO BETTER AND TO BEST PRODUCT IN NIGERIA AND EVEN IN AFRICA....
Dr. Erastus Bankole Akingbola has been repeatedly honoured, and rightly so, by many Universities in this Country. Among such well-deserved laurels are the Honorary Doctor of Science (D.Sc) in Banking and Finance from the University of Calabar (2002); Honorary Doctor of Science (D.Sc) of the University of Benin (2006); Honorary Doctor of Letters (D.Litt) of the Adekunle Ajasin University, Akungba (2007); Honorary Doctor of Management Technology, from Federal University of Technology, Owerri plus a Distinguished Alumnus Award of the University of Lagos.
Other positive recognitions garnered by Dr. Erastus Akingbola include his choice for the Excellence Award of the Institute of Directors (1998), Merit Award of the Chartered Institute of Bankers of Nigeria (1999), Diamond Award of the Nigerian Institute of Public Relations (Ondo State Chapter) (2000); Zik Prize (of the PPRAC) for Leadership in the Banking Industry (2004); Kwame Nkrumah African Leadership Award (2004) and Banker of the Year Award of the Chartered Institute of Bankers (2006).
In further recognition of his competence, capabilities and contributions, Dr Erastus Akingbola has at various times been appointed to serve in such challenging capacities as the following:
- Chairman, Intercontinental Securities Ltd (1991)
- Chairman, Associated Discount House Limited (1993)
- Director, WAPIC Insurance Plc (1998)
- President, Lagos Business School Alumni Association (1998-2000)
- Board Member, African Bankers Forum (2004 - 2007)
- Vice-President, Chartered Institute of Bankers of Nigeria (2006)
- Chairman, Nigerian Stock Exchange (Ibadan Zone) and Member, National Council of the Stock Exchange (2007)
Of very special significance also was the well-deserved selection of Dr. Erastus Bankole Oladipo Akingbola in 2001 for a National Award of the Order of the Niger (MON)
His movement to the Intercontinental Bank Plc paved the way for greater things to come, not only for him as a person, but also for the bank which has eventually grown into a highly reputable Conglomerate.
This is a Banking group which as a highly responsible and responsive corporate citizen has taken long and bold strides to support various educational institutions in Nigeria; and to promote many viable socio-economic programmes and projects of great value to the generality of our citizenry. These philanthropic projects include for instance the following:-
- a N25m Lecture Hall at the University of Calabar
- a N40m Hostel Project at the University of Nigeria, Nsukka
- a N70m Project at the Bayero University, Kano
- a N40m Post Graduate Hostel Project at the University of Benin
- an N80m Post graduate Hall at the University o f Lagos
- a N40m Hostel Project at Nnamdi Azikiwe University, Awka
- a 50m Hostel Project at Adekunle Ajasin University, Akungba
- a 160m Hostel Complex at the Igbinedion University, Okada
A very industrious, tireless and committed technocrat, Dr. Erastus Akingbola, in spite of his very busy schedules, still finds time for in-depth research and data analysis and for conference and workshop attendance, plus other positive contributions to knowledge and critical evaluation of issues of contemporary interest to our nation. This is evident from the series of keynote papers he has authored for various seminars, workshops, technical meetings etc. of particular interest are such titles among his academic and research papers as the following:- University/Private Sector Partnership: The Way Forward for Nigeria
- Bank Consolidation and the Industrial Sector in Nigeria.
- Building a World class University system in Nigeria: Prospects, Challenges and Opportunities.
- Reforming the Contemporary Nigeria Value System: Role of the Universities.
- Promoting Excellence and Innovation for National Development: A case for consolidating the Gains of Financial Sector Reforms.
A widely traveled and highly refined personality, Dr Erastus Akingbola is essentially a peace-loving, kind-hearted motivator. He is God-fearing indeed a practicing Christian, theologist and Pastor of the Redeemed Christian Church of Nigeria. He has been happily married for many years and the marriage is blessed with four children.
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