Lagos, Nigeria – In a significant move that bridges corporate legacy with academic leadership, First Bank of Nigeria Ltd. has announced the appointment of Prof. Kenneth Amaeshi as the inaugural holder of the FirstBank Samuel Asabia Professorial Chair of Business Ethics at the University of Lagos (UNILAG). This appointment, confirmed in a statement by the bank’s Acting Group Head of Marketing and Corporate Communications, Olayinka Ijabiyi, marks a pivotal moment for ethical business scholarship in Africa.
The Legacy of the Chair: Honoring a Banking Pioneer
Established in 1994 under FirstBank’s Education Endowment programme, the Samuel Asabia Chair is far more than an academic title. It is a living tribute to Chief Samuel Asabia, the first indigenous Managing Director of FirstBank, whose leadership was synonymous with integrity and nation-building. The endowment programme itself is a strategic initiative supporting advanced research and learning in selected federal universities across Nigeria’s six geopolitical zones, aiming to cultivate home-grown intellectual capital.
The Chair’s mandate is both profound and practical: to lead cutting-edge research initiatives and mentor future professionals on the critical importance of business ethics, thereby promoting a culture of integrity and responsible leadership within Nigeria’s corporate landscape.
The Appointee: A Global Scholar for a Local Mission
Prof. Kenneth Amaeshi is not just an academic; he is a globally recognized thought leader whose appointment signals the Chair’s ambitious, world-class aspirations. He currently holds prestigious professorial chairs in Sustainable Finance and Governance at the European University Institute in Florence, and in Sustainable Business and Public Policy at the University of Edinburgh.
His work is particularly relevant to Africa’s development context. Amaeshi is a leading proponent of “Africapitalism”—a philosophy that frames the private sector as a primary driver of equitable and inclusive economic growth, where business success is inextricably linked to social progress. His scholarship has influenced global debates on responsible capitalism, corporate governance, and the role of business in society, making him uniquely positioned to guide research that is both academically rigorous and immediately applicable to African challenges.
Strategic Vision: Aligning Scholarship with Sustainable Development
Commenting on the appointment, FirstBank’s Group Managing Director and CEO, Dr. Olusegun Alebiosu, highlighted the strategic alignment. “We are delighted to welcome Prof. Amaeshi. His global expertise and passion for ethical leadership resonate deeply with FirstBank’s vision of promoting sustainable development and principled business practices,” Alebiosu stated. He emphasized the long-term impact: “This Chair is an investment in the future. It will inspire generations of leaders to drive Nigeria’s socio-economic transformation through a firm foundation of integrity and innovation.”
The University of Lagos echoed this sentiment, noting that the appointment reflects a shared institutional commitment to advancing scholarship, integrity, and values-driven leadership. UNILAG expects Amaeshi to inspire not only students and academics but also professionals across society to lead with ethical clarity, vision, and purpose.
Broader Implications: Shaping the Future of African Business
The FirstBank-UNILAG partnership, crystallized in this appointment, has a clear and ambitious goal: to shape the future of sustainable finance and ethical business practice in Nigeria and across Africa. By placing a scholar of Amaeshi’s caliber at the helm, the initiative moves beyond symbolic endorsement to active, high-impact knowledge creation.
The Chair is poised to become a crucial hub for:
- Research: Generating locally-grounded insights on corporate governance, anti-corruption, and ethical decision-making in African markets.
- Mentorship: Developing a pipeline of ethically-conscious leaders for the banking sector and broader economy.
- Dialogue: Facilitating critical conversations between industry, academia, and policymakers on building a more responsible capitalist ecosystem in Africa.
In essence, the appointment of Prof. Kenneth Amaeshi transforms the Samuel Asabia Chair from a prestigious endowment into a dynamic engine for ethical leadership, poised to honor the past by rigorously shaping the future of business in Africa.
Edited by Kamal Tayo Oropo
