TUNDE & OYE HASSAN-ODUKALE: THE BILLIONAIRE BROTHERS RUNNING FIRST BANK
Prior to some weeks back, not many knew the Managing Director Leadway Assurance Limited, Tunde Hassan-Odukale.
Until his affirmation as largest shareholder of First Bank, Mr. Femi Otedola had made moves to take over First Bank with his share mop up, but Mr. Tunde had the majority.
Tunde is Chairman of First Bank Nigeria by the virtue of his largest shares with the bank. His Brother Oye Hassan-Odukale is Chairman of First Bank United Kingdom.
Mr Tunde is currently the GMD/CEO of Leadway Holdings Limited. Leadway was founded in 1970 as an insurance service company. Over the years the two brothers have built a reputation of prompt claims settlements, integrity and innovative services, making them a leading composite insurance underwriter in Nigeria.
Leadway was founded by late Sir Hassan Olusola Odukale, an Illishan Remo, Ogun State born billionaire businessman. He set up Leadway to boost local content in the insurance business which was dominated by foreigners at the time.
Late Sir Hassan Olusola Odukale ran the company from inception till 1999 when he passed on. After his demise, his son Oye Hassan Odukale took over management of the company till 2019.
During Oye’s Reign at the helms of the company’s affairs, he diversified investments in different sectors of the economy. That led to the Birth of Leadway Holdings Limited.
Leadway Holdings consists of the following companies:
Leadway Assurance Company Limited
Leadway Pensure PFA Limited
Leadway Assets Management Company Limited
Leadway Capital & Trusts Limited
Leadway Properties & Investments Limited
Leadway Hotels Limited
Thomas Wyatt Plc.
As at 2019 Leadway Assurance had a net income of N90Billion and total assets valued at N394Billion.
Mr Tunde Hassan Odukale, Chairman of First Bank has a First Degree in Pure Mathematics from University of London & a Masters Degree in Actuarial Science from City University London. He sits on the Board of Stanbic IBTC, Union Assurance & FBN Holdings. His shareholding with First Bank is valued at over a $100Million.
His Brother Oye graduated from University of Houston where he bagged Bachelors and Masters Degrees in Business Administration. He has been a Member of the Boards of
First Bank, Union Bank, Julius Berger, Unilever, May & Baker, Nestle & Cadbury.
They are both silent billionaire businessmen. They are scheduled to be featured by Forbes.
They are both car race enthusiasts with luxury super cars. Both of them are annual participants at the Monaco Grand Prix.
They also own super yachts and are members of the “Yacht Club de Monaco.” Joining the club costs $1.2Million asides owning your yacht, and an annual fee of $200,000.