Board of Directors

Chairman

Femi Akingbe

Mr. Akingbe, Chairman Board of Directors is a Chartered Accountant, who started his professional career in 1976 with Audit Firms including Price Waterhouse & Co. (1978-80). He joined Chase Merchant Bank Nigeria Limited in 1980 as a Credit Analyst, rose to become Lagos Branch Manager of the bank in 1984 and left as an Assistant General Manager (Head of Credit Policy Dept.) in January 1988. In September 1983, Mr. Akingbe completed the 12 Month Credit Development Program of Chase Manhattan Bank, N. A., New York, and was graded "Outstanding".

Mr. Akingbe is the Chief Executive Officer, Ventures & Trusts Ltd and has exceptional competence in relationship/portfolio management, financial consultancy and venture capital services, product marketing and international trade finance. Apart from overseeing the general affairs of the Company, Mr. Akingbe has direct responsibility for our Investment and Portfolio Management Group.

Mr. Akingbe was appointed a director in Agusto & Co in December 2003.

Managing Director

Yinka Adelekan

Yinka Adelekan is the Managing Director of Agusto & Co, Nigeria’s leading Credit Rating Agency. With extensive experience in corporate banking, risk management, and financial analysis, she possesses a diverse skill set. Prior to joining Agusto& Co, Yinka worked as a Credit Analyst in the Corporate Banking Division of Chartered Bank Plc. (now Stanbic IBTC Bank Plc.) where she managed clients and structured credit for various sectors including construction, aviation, telecommunications, and shipping.

Yinka is known for her exceptional leadership, strong communication skills, and adeptness in presentation and problem-solving. She is an experienced financial analyst, An Honorary member of Chartered Institute of Bankers, Senior Associate Member of Risk Managers Association of Nigeria (RIMAN), a fellow of the National Institute of Credit Administration and a Key member of Agusto & Co's Rating committee. Under her leadership, Agusto & Co. has issued over 1200 ratings to banks, manufacturing companies, funds, insurance companies, leasing companies, and asset management firms. She also possesses experience in sustainable finance and verification of green projects in line with CBI standards.

She has also been a lead facilitator for various courses related to credit risk, business strategy, and commercial lending for over 15 years.

Executive Director

Isaac Babatunde

Isaac is an Executive Director in charge of Corporate and Sub-Sovereign Ratings at Agusto & Co. He has over twenty-eight years’ experience in ratings (corporates, sub-nationals, banks and non-bank financial institutions), research, training, audit, accountancy and taxation. Isaac leads Agusto & Co.’s initiatives that has resulted in the rating of over 200 corporates and 27 Nigerian sub-national governments as well as their various issuances (commercial papers and bonds).

Isaac facilitates in training programmes organised by Agusto Consulting (a subsidiary of Agusto & Co) in the areas of accounting, financial analysis, credit and credit risk management.

He has made presentations to the Ghana Bond Development Committee; The African Securities Exchanges Association (ASEA) at JSE and Kenya Conference on Sub-national borrowings, amongst others.

Isaac joined Agusto & Co. in February 1999 and has worked in various departments within the Firm rising through the ranks to becoming an Executive Director in 2011.

Prior to joining Agusto & Co, he trained and worked with one of the largest public accounting firms for over six years.

Isaac has a B.Sc. (Hons.) in Economics from Obafemi Awolowo University, Ile-Ife. He is a Fellow of the Institute of Chartered Accountants of Nigeria and an Associate of the Chartered Institute of Taxation of Nigeria. Isaac is certified as an Accredited Management Trainer by the Centre for Management Development (CMD) and an alumnus of the Lagos Business School having completed the Senior Management Programme in 2006. He has attended various training courses both in Nigeria and overseas.

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Finance & Leasing

COMPANY RATING EXPIRY OUTLOOK COUNTRY
Fewchore Finance Company Limited Bbb/A2 Jun 30 , 2026 Stable Nigeria
Credit Direct Finance Company Limited Bbb+ Jun 30 , 2026 Stable Nigeria
LECON Finance Company Limited A+ Jun 30 , 2026 Stable Nigeria

Corporates

COMPANY RATING EXPIRY OUTLOOK COUNTRY
Axxela Limited Aa- Jun 30 , 2026 Stable Nigeria
Zeenab Foods Limited A Jun 30 , 2026 Stable Nigeria
Nigerian Breweries PLC A+ Jun 30 , 2026 Stable Nigeria
Premium Cocoa Products (Ile-Oluju) Limited Bbb Jun 30 , 2026 Stable Nigeria
MTN Nigeria Communication PLC Aa+ Jun 30 , 2026 Stable Nigeria
Cutix PLC Bbb+ Oct 31 , 2026 Stable Nigeria
Johnvents Industries Limited Bbb+ Jun 30 , 2026 Stable Nigeria
Payaza Africa Limited Bbb Jun 30 , 2026 Stable Nigeria
NGN Gram Limited Bbb Jun 30 , 2026 Stable Nigeria
Food Concepts PLC A Jun 30 , 2026 Stable Nigeria
Odu'a Investment Company Limited  Aa- Jun 30 , 2026 Stable Nigeria
UAC of Nigeria PLC A- Jun 30 , 2026 Stable Nigeria
Vitafoam Nigeria Plc A Mar 31 , 2026 Stable Nigeria
Lagos Free Zone Company Bbb Jun 30 , 2026 Positive Nigeria

Corporate Bonds

COMPANY RATING EXPIRY OUTLOOK COUNTRY
Axxela Funding 1 PLC's ₦16.4 billion Bond Aa- Apr 12 , 2026 Stable Nigeria
Axxela Funding 1 PLC's ₦11.5 Billion Bond Aa- May 20 , 2026 Stable Nigeria
NEN Infrastructure Limited's ₦17.1 Billion Bond A May 31 , 2026 Stable Nigeria
NEN Infrastructure Limited's ₦40.975 Billion Bond A- Mar 22 , 2026 Stable Nigeria
Aradel Holdings PLC's  ₦10.318 billion Bond Aa Jun 30 , 2026 Stable Nigeria
MTN Nigeria Communications PLC’s ₦110,001,000,000 Series 1 Bond Aa+ Apr 30 , 2026 Stable Nigeria
LFZC Funding SPV PLC’s ₦25 billion Bond Aaa Mar 16 , 2026 Stable Nigeria
NCNI Limited's ₦13.2 Billion Bond A Feb 01 , 2026 Stable Nigeria
GPC-SPV Company PLC Aaa Nov 23 , 2025 Stable Nigeria
PAT Digital Infra Fund SPV PLC Aaa Feb 02 , 2026 Stable Nigeria
NSP-SPV PowerCorp Plc’s ₦10 Billion 15-year Series 1 Aaa Dec 31 , 2033 Stable Nigeria