THE 19th Emir of Gwandu, Alhaji Almustapha Haruna Jokolo, has congratulated renowned banker and entrepreneur Chief Fola Adeola following his appointment as Chairman of the Presidential Task Force on Petroleum Reform Value Optimisation by President Bola Ahmed Tinubu.
Jokolo described the appointment as a well-deserved recognition of Adeola’s longstanding commitment to national development, integrity, and patriotism, expressing confidence in his ability to deliver on the critical national assignment.
In a congratulatory message sent to News Point Nigeria on behalf of his family, friends, and associates, the monarch reflected on his decades-long relationship with Adeola, which dates back to the late 1980s when he served as Sole Administrator of the National Salt Company of Nigeria (NASCON) in Ijoko-Ota, Ogun State.
According to Jokolo, Adeola was at the time serving as Assistant General Manager at Continental Merchant Bank (CMB), where he oversaw the bank’s Foreign Exchange Department under the leadership of the Managing Director, Malam Sulayman D. Umar.
He recalled that Adeola played a significant role in supporting NASCON’s operations during a challenging period by helping the company source foreign exchange required to procure raw materials and spare parts.
Jokolo noted that the support proved instrumental in reviving the once struggling company.
“Your assistance enabled us to procure the raw materials and spare parts needed for production, which helped us turn the company around from a moribund state since its establishment in 1974 into a profit-making enterprise capable of declaring dividends,” Jokolo said.
He added that the revival of the company eventually paved the way for its successful privatisation in 1992, when prominent industrialist Alhaji Aliko Dangote acquired the firm.
Jokolo further highlighted Adeola’s remarkable contributions to Nigeria’s banking sector, particularly his role in the establishment of Guaranty Trust Bank Ltd, which he described as one of the country’s most successful financial institutions.
Adeola, he noted, founded the bank and served as its Managing Director before later becoming Chairman of the Board of Directors, helping to build it into a major force in Nigeria’s financial industry.
After his tenure at the bank, Jokolo said Adeola continued to demonstrate his entrepreneurial vision by establishing Lotus Bank, a non-interest financial institution which he currently leads.
Commending President Tinubu for the appointment, Jokolo said the choice of Adeola reflects the administration’s commitment to bringing experienced and credible professionals into key national assignments.
“President Bola Ahmed Tinubu has made the right choice in appointing you as Chairman of the Task Force on Presidential Petroleum Reform Value Optimisation,” he said.
He expressed optimism that Adeola’s experience in corporate leadership, finance, and institution-building would contribute significantly to the success of the task force and the broader reforms in Nigeria’s petroleum sector.
Jokolo also offered prayers for divine guidance and success in the discharge of Adeola’s new responsibilities.
“We pray to Almighty Allah to grant you divine assistance in making this assignment successful and to guide you and your team as you carry out this important national duty,” he said.
The Emir concluded by once again congratulating Adeola on the appointment and wishing him success in the task of helping to strengthen transparency, efficiency, and value optimisation in Nigeria’s petroleum industry.