By Becky Usman

Bode Agusto, a former Director-General of the Budget Office of the Federation and the founder of Agusto & Co, Nigeria’s first credit rating agency, has passed away at the age of 68.

The news of his demise was confirmed by Olufemi M. Awoyemi, the current CEO, Founder, and Chairman of Proshare Nigeria, through a post on his X (formerly Twitter) account. Awoyemi expressed deep respect for Bode Agusto, emphasizing his pioneering role in promoting the use of facts and data in engagements. He acknowledged Agusto as an outstanding human being and an excellent teacher whose influence extended to the careers of many.

Awoyemi’s post read, “@bodeagusto, the founder of @agustoandco, was the pioneer who taught us all how to respect facts and data in our engagements. A great human being and a fabulous teacher you were. Your teachings, delivered with conviction, will always be with all of us; our career paths were impacted by you. I pray to Almighty God to give enough strength to his family members to overcome this loss, and may his soul rest in peace.”

Before his passing, Bode Agusto served as an independent consultant, contributing his expertise to various fields such as economics, finance, and business strategy. Agusto & Co, established in 1992, was instrumental in introducing credit rating services to Nigeria. The company obtained an official license from the Securities and Exchange Commission, marking it as the nation’s first credit rating agency. Bode Agusto led the company as Managing Director for 11 years, leaving a lasting legacy in the financial sector.