Tinubu, Obaseki mourn as Bode Agusto, founder of Nigeria’s first credit rating firm, dies at 68

Bode Agusto, foremost economist and founder of Nigeria’s first credit rating agency, Agusto & Co, has died at the age of 68.

Media mogul Dele Momodu confirmed his death in an Instagram post on Thursday.

“One of Nigeria’s biggest economic wizards, Mr Olabode Agusto, has passed on. He founded AGUSTO & CO Ltd., a credit rating company.

“His darling wife, Edna and children were in Portugal (his adopted country) when he passed on at close to 70. May his brilliant soul rest in peace,” Mr Momodu wrote.

Before his death, Agusto was an independent consultant in the world of economics, finance, and business strategy.

Bode Agusto appointed head of Lagos economic advisory committee

Agusto & Co., established in 1992, played a crucial role in introducing credit rating services to Nigeria. The company was officially licensed by the Securities and Exchange Commission, making it the nation’s very first credit rating agency. Agusto led the company as managing director for 11 years.

Agusto was a director in the National Pension Commission, and member of the Central Bank of Nigeria Monetary Policy Committee.

In 2003, ex-President Olusegun Obasanjo awarded Agusto the national honour of Member of the Order of the Federal Republic for his contributions to the Nigerian economy.

 

President Bola Tinubu has expressed profound sadness concerning the demise of Mubasheer Olabode Agusto, who served as an Adviser (Budget Matters) to President Olusegun Obasanjo during his second term in office.

 

 

 

The President extends his heartfelt condolences to the Agusto family and their friends who are mourning in the wake of his passage into glory.

 

 

 

As an accountant with exceptional talent, Mr. Bode Agusto served at various times as a former Assistant Vice President of Citibank Nigeria; a Partner in PriceWaterHouseCoopers (PwC); Non-Executive Director of the National Pension Commission (PenCom) and the Shell Nigeria Pension Fund; in addition to his service as a Member of the Monetary Policy Committee of the Central Bank of Nigeria.

 

 

 

The President acknowledges Bode’s unparalleled contributions to the financial world, as well as the public and private sectors of Nigeria.

 

 

 

Emphasizing Bode’s pursuit of sustainable economic growth in the public service, President Tinubu notes that the distinguished Chartered Accountant continued to share his wealth of knowledge even when faced with serious medical challenges.

 

 

 

“Even in the face of formidable health challenges, Bode continued to generously share his time and wealth of knowledge on economics and business strategy. He was consistently eager to contribute to the growth of the Nigerian economy. His impact will resonate through generations, and I pray that God grants his soul eternal rest,” President Tinubu said.

 

 

Also, Obaseki mourns passing of Olabode Agusto, founder of Nigeria’s first credit rating company

 

The Edo State Governor, Mr. Godwin Obaseki, has mourned the passing of Olabode Agusto, founder of Nigeria’s first and foremost credit rating company, Agusto & Co., describing him as a quintessential analyst, who led the way in credit risk management in the Country.

 

Obaseki, in a statement, said Olabode’s knack for excellence stood him out and made him the industry’s gold standard.

 

The governor said, “I am deeply saddened by the painful news of the passing of a friend and patriot, Olabode Agusto, founder of Nigeria’s first credit rating company, Agusto & Co., a quintessential analyst, who led the way in credit risk management in the country.

 

“A thorough-bred professional, he recorded impressive growth after setting up Agusto & Co. in 1992, building an impeccable reputation as the foremost credit rating business out of Nigeria, nay Africa. He also served the nation as an Adviser on Budget matters between 2003 and 2007.

 

“Agusto was hardworking and honest, traits that propelled him to set the pace and lead the industry over these years.

 

“He groomed many young professionals in the field, paving the way for their growth and development.

 

“His knack for excellence stood him out and made him the industry’s gold standard.

 

“I mourn the passing of the analysts’ analyst, a standard bearer and indeed, a remarkable gentleman.”

 

Obaseki added, “He will be fondly remembered for his wit, intelligence, attention to detail, and a rare knack for excellence.

 

“I commiserate with the Agusto family, management and staff of Agusto & Co., associates, friends, and well-wishers and pray that God will grant all the fortitude to bear the irreparable loss.”