Ibukun Awosika: 10 Things Nigerians Should Know About First Bank's First Female Chairperson

For the first time in its 122 year old history, First Bank Limited, Nigeria’s biggest banking brand and second largest lender, has appointed a woman to be its board chairperson, and it’s no one but Mrs. Ibukun Abiodun Awosika; shrewd entrepreneur, compassionate motivator and success magnet.

Formerly a non-Executive director of the bank, Mrs. Awosika took over the helm of affairs from Prince Ajibola Afonja who is retiring in September 2015.

Her appointment is epic and was celebrated widely as she inspires hopes that women can aspire to top managerial positions in a career dominated by males.

Here are 12 things to know about her:

1. She is the first female chairperson of First Bank’s board of directors.

2. She is 54 years old

Ibukun was born in Ibadan on December 24th, 1962 to a Nigerian father, Mr. Abdulmashood Adekola and a Cameroonian mother Hannah Aduke Adekola nee Ashu. She was the 3rd of 7 children. Currently, she is happily married to Abiodun Awosika and they are blessed with three wonderful sons- Oludola, Olafusika and Olami.



3. She has an impressive educational background

Mrs. Awosika graduated with a Bachelor’s degree in Chemistry from the University of Ife (now Obafemi Awolowo University, Ile-Ife). Ibukun is an alumna of the Chief Executive Programme of Lagos Business School and the Global Executive MBA Programme of the prestigious IESE Business School, Barcelona, Spain, and Global CEO Programme of Wharton, IESE and China European International Business School (CEIBS).

4. She’s an entrepreneur par excellence

She has business interests in manufacturing, retail and bank-way security systems services.
After completing her Youth Service, Awosika got a job Alibert Nigeria Ltd. She however quit three months later at the age of 25 to begin her entrepreneurship journey. She started her own furniture manufacturing company; Quebees Ltd that later evolved to The Chair Centre Ltd.

The firm has grown to become The Chair Centre Group, which houses The Chair Centre Limited, Sokoa Chair Centre Limited, Furniture Manufacturers Mart, TCC Security Systems and Cubes and Boxes Limited.

5. She is an ordained Pastor.

She founded of the Christian Missionary Fund. Through this faith-based organization, she works with hundreds of missionaries spread across Nigeria to change lives with the provision of medical, educational, and other supplies.

6. She is chairman and sits on boards of several prominent organizations

Ibukun chairs a number of corporate and not-for-profit boards amongst which are: House of Tara International and Afterschool Graduate Development Centre (AGDC), a facility which she promoted to help address youth employability and enterprise issues in Nigeria.

She sits on the boards of Digital Jewel Limited, Cadbury Nigeria Plc., Convention on Business Integrity (CBI) and the Nigerian Sovereign Investment Authority. She was also Chairman, FBN Life Assurance Limited, FBN Capital Limited and Kakawa Discount House Limited.


7. She’s played an important part in the success stories of several women

With high interest in social issues, including women, Ibukun is a co-founder and past chairperson of Women in Business, Management and Public Service (WIMBIZ). She is a fellow of the African Leadership Initiative, Aspen Global Leadership Network, Institute of Directors and Society for Corporate Governance Nigeria. Through her projects, she’s aspired to further the greatness of Nigeria by raising entrepreneurs to create jobs for the large unemployed youthful population.

One of her protégés is make-up guru, Tara Durotoye whom she helped secure a loan of N500, 000 to finance her company, House of Tara.

8. She is a member of the Nigerian Economic Summit Group (NESG), served on National Job Creation Committee (NJCC), and sits on the International Advisory Board of IESE Business School, Barcelona-Spain.

9. Ibukun is a multiple award-winning entrepreneur and the first Nigerian recipient of the prestigious International Women Entrepreneurial Challenge (IWEC) Award as a nominee of the US Department of State in 2008.

10. Here’s her advice for business owners: “You must understand that you are not indispensable to your business because you are not God. You are not the most important person in your business, the guys who work for you are just as important as well.You must learn to respect them and the value they bring into your business. You can’t pay them peanuts and pay yourself all the money.”