Abimbola Olurotimi Ogunbanjo was born to Chris and Hilda Ogunbanjo on July 11, 1962. He attended Corona School Apapa for his early education and then Igbobi College, Lagos before proceeding to Millfield school, England for his General Certificate of Education (GCE). Ogunbanjo studied Law at the University of Lagos and then proceeded to the London School of Economics for his Master in Law.
Ogunbanjo was very keen on learning and seeking knowledge beyond bars. This is quite evident in his academic pursuance, work ethic and quest for excellence. He obtained Certificates of Maritime Law from the University of Southampton and as well in International Capital Markets from the New York Institute of Finance. Ogunbanjo was very versatile in everything he did; reliable and trustworthy.
His skills and working experience with formidable leadership qualities distinguished his work in every company and organization he had the opportunity to work with; he always had a plan to change the narrative. Ogunbanjo’s journey of excellence didn’t just spring up overnight; the privilege of attending meetings at his father’s firm shaped and gave him exposure for the journey ahead. In 1990, he joined his father’s law firm as a Managing Partner – Chris Ogunbanjo LP (Limited Partnership) after working at Chase Manhattan Bank as a credit analyst.
He started working at ConocoPhillips, an American oil & gas company in 1995; rose through the ranks and became a director. In 2011, he was appointed the vice president of the Nigerian Stock Exchange; he chaired the governance and remuneration committee during this period. Ogunbanjo later became the President of the National Council of the Nigerian Stock Exchange (NSE). His time was from 2017 to 2021. From 2021 to 2022, he piloted affairs of the Nigerian Exchange Group Plc as Group Chairman.
As mentioned earlier, Ogunbanjo served on the boards of several multinational corporations and non-profit organizations. He was a member of the Advisory Board of the University of Buckingham Centre for Extractive Studies and Beta Glass Plc, to mention a few. In commemoration of his service to humanity and to celebrate his journey on earth, Abimbola Ogunbanjo was eulogized by friends, family and colleagues for his contribution to the growth and progress of Nigeria, most especially being instrumental to the demutualisation of the Nigerian Exchange Plc (NGX). When he was alive, Ogunbanjo had this to say about NGX
“The successful demutualisation of the Nigerian Stock Exchange was one of my fundamental objectives when I assumed the presidency of the National Council. The journey involved the signing of the demutualisation of the Nigerian Stock Exchange bill into law in August 2018 by the President & Commander in Chief of the Federal Republic of Nigeria, President Muhammad Buhari GCFR.
“The receipt of consent from the Security and Exchange Commission of Nigeria of a no objection in December 2019 which led to the court-ordered meeting and extraordinary general meeting in March 2020 where members unanimously agreed to requisite resolutions to convert the exchange from a non for profit making public limited liability company owned by shareholders.
“The receipt of the final approval for the SEC in March 2021 and company re-registration with the Corporate Affairs Commission with demutualisation, the NGS group is well positioned to enable strong economic growth and contribute its quota to the development of Nigeria’s capital market.”
Umaru Kwairanga, the Chairman of Nigerian Exchange Group recounted how Ogunbanjo was remarkable in his life at the memorial service organized by the NGX in his honour.
He said, “He was more than just a leader; he was a beacon of light, a guiding force and pillar of strength for his community. His dedication to the advancement of the market, his unwavering commitment to excellence and his profound impact in the lives of those around him are testament to his remarkable character and leadership.”
Former chairperson of NGX Regulation Limited, Cathy Echeozo, also eulogized and commended Ogunbanjo for his total commitment to the capital market and his strong relationship with brokers to ensure they were committed to the market as well.
For his contribution to the Nigerian capital market, he was given a national honour (Officer of the Order of the Federal Republic) by the former president of Nigeria, Muhammadu Buhari in October 2022.
Ogunbanjo was a member of the International Bar Association, Nigeria Bar Association, Institute of Petroleum and a capital market consultant with the Securities and Exchange Commission, Nigeria. He died on February 9 in a helicopter crash alongside Hubert Wigwe and others, near Nipton, California, United States of America.
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