Erastus Akingbola Biography, Wiki, Wife, Children, Age, Net Worth, Family, Career & More

Erastus Akingbola Biography, Wiki, Wife, Children, Age, Net Worth, Family, Career & More, Erastus Akingbola is a Nigerian banker, investor, and philanthropist who has made significant contributions to the Nigerian banking sector. He was born on October 26, 1950, to Chief Samuel Orogbode Akingbola, a Church Catechist and Teacher, and Mrs. Christiana Akingbola, a book seller. Erastus Akingbola is a family man and is married with children.

Erastus Akingbola was once the Chief Executive Officer of Intercontinental Bank, one of the largest banks in Africa. He is also the founder and chairman of Tropics Finance and Investment Company and Inspiration 92.3 FM, a family-oriented radio station. With a career spanning over 30 years, Erastus Akingbola has become a well-known figure in the Nigerian banking sector, and his contributions have earned him numerous accolades and recognition.

Erastus Akingbola’s net worth is estimated to be around $1.5 billion. He is known for his philanthropic efforts, and he has contributed significantly to the development of education, health, and other social amenities in Nigeria. Erastus Akingbola’s biography, wiki, wife, children, age, net worth, family, career, and more are fascinating subjects that provide insight into the life and achievements of this remarkable Nigerian banker.

Early Life and Education

Contents hide

1 Early Life and Education

2 Career

2.1 Banking Tenure

2.2 Legal Challenges

Erastus Akingbola was born on October 26, 1950, in Ilesa, Osun State in Western Nigeria. He hails from Oke-Igbo, Ondo State in Western Nigeria. His father, Chief Samuel Orogbode Akingbola, was a Church Catechist and Teacher, and his mother, Mrs. Christiana Akingbola, was a book seller.

Akingbola attended Christ’s School, Ado Ekiti between 1965 and 1969, where he obtained his West African School Certificate. He later proceeded to the University of Ife (now Obafemi Awolowo University) in 1970, where he obtained a Bachelor of Science degree in Accounting in 1973.

In 1974, Akingbola completed his National Youth Service Corps (NYSC) program and joined the services of the Central Bank of Nigeria (CBN) as a Banking Officer. He later obtained a Master of Business Administration (MBA) degree from the University of Lagos in 1978.

Akingbola’s passion for education and capacity building led him to attend several executive management courses at prestigious institutions such as Harvard Business School, INSEAD, and the International Institute for Management Development (IMD) in Switzerland.

Career

Erastus Akingbola has had a successful career as a banker, investor, and philanthropist. He was once the chief executive officer of Intercontinental Bank, one of the largest banks in Africa. During his tenure as CEO, he led the bank to become one of the most profitable banks in Nigeria.

Banking Tenure

Akingbola started his banking career in 1976 as a clerk at the Central Bank of Nigeria. He later joined the International Merchant Bank (IMB) in 1980, where he worked in various departments before rising to the position of Executive Director in 1989. In 1990, he was appointed the Managing Director of the then Habib Bank Nigeria Limited, which later became Intercontinental Bank.

Under his leadership, Intercontinental Bank grew rapidly, expanding its operations across Africa and other parts of the world. The bank also became one of the most profitable banks in Nigeria, with a net profit of over N14 billion in 2007.

Legal Challenges

In 2009, Akingbola was removed from his position as CEO of Intercontinental Bank by the Central Bank of Nigeria, following allegations of financial impropriety. He was also charged with fraud and money laundering by the Economic and Financial Crimes Commission (EFCC) in Nigeria.

Akingbola denied the allegations and fought back, alleging that the charges against him were politically motivated. He also challenged his removal from office in court, arguing that it was done without due process.

In 2015, Akingbola was acquitted of all charges by the Federal High Court in Lagos. The court ruled that the EFCC had failed to prove its case against him beyond reasonable doubt. However, the legal challenges had taken a toll on his reputation and his career as a banker.

Despite the challenges, Akingbola continued to be involved in the financial sector, founding and chairing Tropics Finance and Investment Company. He also founded Inspiration 92.3 FM, a family-oriented radio station.

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