The Alaafin of Oyo, Oba Abimbola Owoade, has installed former First Bank Group Managing Director and Chief Executive Officer, Dr Adesola Adeduntan, as the new Balogun of Oyo.
The historic ceremony, held at the Alaafin’s palace over the weekend, attracted traditional rulers, government officials, chiefs and indigenes of Oyo.
The Balogun is one of the most revered chieftaincy titles in the old Oyo Empire, traditionally associated with military leadership, courage and the defence of the kingdom.
Adeduntan, an Ibadan indigene, was recognised for his contributions to the banking sector, particularly his nine-year leadership of First Bank, during which the bank’s customer base reportedly grew from 10 million to more than 42 million.
He currently serves as Pro-Chancellor and Chairman of the Governing Council of Abiola Ajimobi Technical University, Ibadan, and is also the Apesin Ola of Ibadanland.
Oba Owoade described Adeduntan as “a complete gentleman with a heart of gold,” praising his integrity, humility, kindness and commitment to service.
The monarch urged the new Balogun to uphold the values of the title and deploy his experience toward the development, peace and unity of Oyo Kingdom.
Adeduntan pledged to serve with humility, integrity and commitment to the progress of Oyo and Yorubaland.
His wife, Chief Mrs Adenike Adeduntan, was also installed as the Yeye Balogun of Oyo by the Alaafin’s Queen Consort, Ayaba Abiwunmi.
President Bola Tinubu congratulated Adeduntan, describing the installation as a call to greater service and urging him to promote peace, development and the preservation of Yoruba cultural heritage.
The ceremony, originally scheduled for July 18, was postponed in honour of victims of the Oriire abduction.
Among dignitaries at the event were the Olubadan of Ibadanland, Oba Rashidi Ladoja; Oluwo of Iwo, Oba Abdulrasheed Akanbi; Oloro of Oro Kingdom; Ona Onibode of Igboho; Onifiditi of Fiditiland; and Olora of Ora.
The event also featured traditional drumming, prayers and homage from members of the Oyo Traditional Council, Baales, chiefs and other title holders.
The Olubadan’s attendance was particularly significant as it marked his first visit to Oyo since Oba Owoade’s coronation. The two monarchs shared a warm embrace at the ceremony, ending speculation over perceived differences following an earlier public incident.