JUST IN: Bode Agusto, founder of Nigeria’s first credit rating firm, dies at 68

Bode Agusto, foremost economist and founder of Nigeria’s first credit rating agency, Agusto & Co, has died at the age of 68.

Media mogul Dele Momodu confirmed his death in an Instagram post on Thursday.

“One of Nigeria’s biggest economic wizards, Mr Olabode Agusto, has passed on. He founded AGUSTO & CO Ltd., a credit rating company.

“His darling wife, Edna and children were in Portugal (his adopted country) when he passed on at close to 70. May his brilliant soul rest in peace,” Mr Momodu wrote.

Before his death, Agusto was an independent consultant in the world of economics, finance, and business strategy.

Agusto & Co., established in 1992, played a crucial role in introducing credit rating services to Nigeria. The company was officially licensed by the Securities and Exchange Commission, making it the nation’s very first credit rating agency. Agusto led the company as managing director for 11 years.

Agusto was a director in the National Pension Commission, and member of the Central Bank of Nigeria Monetary Policy Committee.

In 2003, ex-President Olusegun Obasanjo awarded Agusto the national honour of Member of the Order of the Federal Republic for his contributions to the Nigerian economy.