Bode Agusto: Founder of Nigeria's First Credit Rating Agency Who Died at 68
- Bode Agusto, the founding father of Agusto and Co., has died at the age of 68
- He is regarded as a great teacher who founded the first credit rating agency in Nigeria
- He had experience working as a Senior Manager at PwC and Citibank Nigeria
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Bode Agusto, founder of Nigeria's first credit rating company and a former director-general of the Budget Office of the Federation, passed away at 68.
Before passing, Agusto worked as an independent consultant in economics, finance, and business strategy.
Source: UGC
Building the first credit rating agency
Nigeria’s adoption of credit rating services was greatly aided by Agusto & Co., founded in 1992.
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As the first credit rating agency in the country, the organization received a formal license from the Securities and Exchange Commission. Agusto served as the first managing director of Agusto and Co. for 11 years.
He was a Chartered Accountant with almost three decades of work experience in the public and commercial sectors.
Before becoming a Partner at Agusto and Co, Agusto was a Senior Manager at PwC. Later, he relocated to Citibank Nigeria, where he took on a vital position in the banking industry as an Assistant Vice President.
Bode served as a director-general and adviser (budget matters) to President Obasanjo during his second term, as well as an assistant vice president at Citibank Nigeria and a partner at PwC.
He was a non-executive director of the Shell Nigeria Pension Fund, the National Pension Commission (PenCom), and the Central Bank of Nigeria’s Monetary Policy Committee.
Certifications and speaking engagements
Bode is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and possesses an Executive Certificate in Strategy and Innovation from the Massachusetts Institute of Technology’s Sloan School of Management and a degree in Accounting from the University of Lagos.
Until his death, he worked as an independent researcher and consultant.
His speaking engagements and research topics include politics, economics, and business strategy in some of sub-Saharan Africa’s most important economies, including Nigeria, South Africa, Angola, Kenya, Tanzania, Ivory Coast, Ghana, the Democratic Republic of the Congo, and Cameroon.
He has provided advice to numerous Nigerian businesses. Agusto & Co. Ltd. and Guaranty Trust Bank Plc both have him on their boards of non-executive directors.
Augusto Makes Predictions on Naira Exchange Rate, Inflation, Nigeria’s Economic Growth in 2023
Legit.ng reported that Agusto & Co has made some interesting projections regarding the Nigerian economy for 2023.
The agency’s projections were contained in its recently released report titled ‘2023 Outlook: Nigeria, a Nation on the Precipice’.
Details in the report projected a three per cent economic growth for Nigeria in 2023, higher than the 2.9 per cent growth estimated by the World Bank but lower than the International Monetary Fund (IMF’s) 3.2 per cent.
Source: Legit.ng
