Kehinde Victor | Sept. 6, 2026
Key Points
- Former FirstBank Group Managing Director, Dr Adesola Adeduntan, has been installed as the new Balogun of Oyo.
- Alaafin Akeem Owoade charged Adeduntan to use his experience to promote the development, peace and unity of Oyo Kingdom.
- The installation attracted prominent traditional rulers, including the Olubadan of Ibadanland, Oba Rashidi Ladoja.
Main Story
Former Group Managing Director and Chief Executive Officer of First Bank of Nigeria Ltd., Dr Adesola Adeduntan, has been installed as the new Balogun of Oyo by the Alaafin of Oyo, Oba Akeem Owoade.
The installation took place on Saturday at the Alaafin’s Palace in Oyo, attracting traditional rulers, government officials, political leaders, chiefs and indigenes of the ancient city.
Adeduntan succeeds the late Dr Victor Olunloyo, former Governor of the old Oyo State, who previously held the title.
The Alaafin described the Balogun as one of the most senior and revered offices in the historic Oyo Empire, traditionally associated with leadership, courage and defence of the kingdom.
“You must uphold the values of the institution and deploy your experience for the development, peace and unity of Oyo Kingdom,” Oba Owoade told the new Balogun.
Adeduntan, who is also Pro-Chancellor and Chairman of the Governing Council of Abiola Ajimobi Technical University, Ibadan, and the Apesin Ola of Ibadanland, thanked the Alaafin and the people of Oyo for the honour.
He pledged to serve with humility, integrity and commitment to the development of Oyo and Yorubaland.
President Bola Tinubu had, in a congratulatory message on Friday, described the installation as a call to greater service and urged Adeduntan to promote peace, development and the preservation of cultural heritage.
The ceremony, originally scheduled for July 18, was postponed in honour of victims of the Oriire abduction.
What’s Being Said
“I pledge to serve with humility, integrity and commitment to the progress of Oyo and Yorubaland,” Adeduntan said in response to his installation.
Oba Rashidi Ladoja, the Olubadan of Ibadanland and Chairman of the Oyo State Council of Obas and Chiefs, attended the ceremony alongside the Oluwo of Iwo, Oba Abdulrasheed Akanbi, and other traditional rulers.
The event featured traditional drumming, prayers and homage from members of the Oyomesi and other title holders.
The Bottom Line: Adeduntan’s installation places a former senior banking executive at the centre of Oyo’s traditional institution, with the Alaafin charging him to apply his experience to the kingdom’s development while upholding the responsibilities attached to the Balogun title.
