Agusto & Co Gets New CEO as Shobo Retires after 20 Years

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Goddy Egene

Agusto & Co, Nigeria’s foremost Credit Rating Agency, has announced the retirement of its Chief Executive Officer – Vivien Shobo, effective 31 December 2019. The company said in a statement that Shobo is retiring after over two decades with the organization and she with an outstanding record of achievements further strengthening Agusto & Co’s formidable market position. She also led Agusto & Co’s African expansion initiatives by obtaining Credit Rating Agency licences from the Capital Market Authorities of Kenya and Rwanda.

According to the statement under her leadership, Agusto & Co successfully rated most of Nigeria’s leading banks and pioneered domestic credit ratings for notable corporate such as Dangote Cement Plc, MTN Nigeria Communications Plc, Lafarge Africa Plc, Nigerian Breweries Plc, Guinness Nigeria Plc, Julius Berger amongst others.

“Shobo’s management at Agusto & Co also played major roles in facilitating landmark multibillion transactions including the:largest Municipal Bond programme and single largest tranche issuance – Lagos State Government’s N500 billion Bond programme and N87.5 billion Bond issuance. First bond issued by a deposit money bank in Nigeria in 2006(the Access Bank N13.5 billion-naira redeemable bond); First bond issued by an insurance company in 2008( Crusader Nigeria Plc N4 billion Unsecured Convertible Debenture); First 15-year corporate green bond fully guaranteed by infrastructure Credit Guarantee Company Limited (Infracredit) – NSP-SPV PowerCorp Plc’s N8.5 Billion 15-year 15.60% Series 1 Guaranteed Fixed Rate Senior Green Infrastructure Bond Due 2034; First commercial paper issuance under the new guidelines of FMDQ(UPDC’s N24 billion commercial paper programme);First hospitality corporate bond issuance in the Nigerian debt capital market (Transcorp Hotels Plc’s N19.7 billion Series I & II bonds Due 2020) among others.”

Meanwhile, Yinka Adelekan has been appointed CEO-designate. Adelekan is an astute finance executive with over 20 years’ experience in the financial services industry, and her expertise spans credit ratings, corporate banking, risk management, product development, financial analysis, and information management.