Whilst he still battles the fallouts 12 years running, Akingbola is also known for other non-banking engagements which he has continued to pursue despite the distractions of the battles surrounding his role in the financial crises. As he clocks 70 years today, two of the key engagements are his major role in social entrepreneurship aimed at re-engineering of the socio-economic and ethical mindset of the youth and the middle-aged Nigerian population through his radio broadcast project and the Amazing Inspiration Foundation. He has also sustained his pastoral life through practical clergymanship and evangelism. The radio, Inspiration 92.3FM, is Nigeria’s first and only family radio service that caters to the needs of many of the key demographics represented within the family.
Inspiration, as the name implies, is a divinely originated concept that incorporates ideas, music and information intended to uplift the spirit of the listener and encourage interaction for purposeful living. Unlike the regular radio in Nigeria, the core mission is to infuse positive energy into the minds of the listeners to help them understand their environment and navigate the challenges they encounter daily. The programs are designed to encourage listeners to imbibe faith, good morals, virtue and ethics in their daily living.
This unique attribute has endeared the organization to the hearts of positive-minded Nigerians and attracted a lot more listenership which has placed it amongst the top three most listened radio stations in the country particularly in its current broadcast space across South West and South South Nigeria from its locations in Lagos, Oyo and Akwa Ibom States. Efforts are underway to stamp the radio’s physical presence in the Northern parts of the country.
The radio project is driven with the same zeal that led to his numerous accomplishments as a banker, business leader, inspirational mentor to many, philanthropist and preacher of the Word of God. The senior management staff of the former Intercontinental Bank marked his 70th birthday acknowledging his positive impact in their lives, his diligent pursuit of a vision for the Intercontinental Group, its people and the lives he touched through charity and selfless endeavors.
Dr. Erastus Bankole Oladipo Akingbola was born on October 26, 1950 to Chief Samuel Orogbode Akingbola, a Church Catechist and Teacher, and Mrs Christiana Akingbola, a book seller, in Ilesha, in the present-day Osun State. Erastus grew up in a loving Christian home and despite his Parents’ lean resources, they understood the value of education and were determined to give their Children good education, irrespective of gender.
Erastus was a bright Pupil and his father had high expectations for his son, especially as he rounded off his Primary Schooling. He did not disappoint. He fared well with the interview process for some prestigious schools and settled with Christ School, Ado Ekiti, which was based primarily on Academics. Erastus enjoyed his years at Christ School, Ado Ekiti and apart from being a brilliant student, was also actively engaged in sports, participating in long distance races. He was also a member of the school’s drama group. But perhaps the highest point of his involvement in extra-curricular activities for the school was when he represented the school at a Western Nigeria Regional Final Competition in Broadcasting and clinched the best position.
Dr. Akingbola had pursued his banking career from the lowest level into the pinnacle of the banking industry in Africa. He had over 35 years continuous banking practice embracing commercial banking, merchant banking, discount house operations, capital market, leasing and insurance. He started his banking career at the then Barclays Bank (now Union Bank) where he learned the ropes and rose to the position of Accountant by 1977, before leaving for NAL Merchant Bank Limited as Executive Assistant in the Operations Department. He rose rapidly at NAL, becoming a Senior Manager in 1984. In 1987, he was appointed Controller of Operations in the First City Merchant Bank Limited. He functioned in this capacity till 1989 when he co-founded and was appointed the Managing Director/Chief Executive of Nigerian Intercontinental Merchant Bank Limited which later transformed into a commercial bank as Intercontinental Bank Plc. As at the time of his exit he had built the bank from scratch to become one of the biggest in the country with subsidiaries in Ghana and United Kingdom.
Dr. Akingbola had his first taste of entrepreneurship as a little boy traversing the streets of Ilesha hawking his mother’s wares. As a Student at Christ’s School, Ado Ekiti, Dr. Akingbola set up two businesses, in partnership with some schoolmates. His venture into full entrepreneurship, however, was when he became the Managing Director/Chief Executive of Nigerian Intercontinental Merchant Bank Limited (NIMBL) in February, 1989.
The bank’s beginning was indeed humble, with its Head Office being in an obscure Berkley Street, Onikan, Lagos. The bank also did not possess the financial clout of some of its competitive peers but that did not dampen the sense of mission Dr. Akingbola and his founding Directors and team had about the bank. When the bank made a pre-tax profit of N18 million for its first 10 months of operations ending in December 1989, the entire banking industry took note of this rare feat.
Dr. Erastus Akingbola got his strong Christian roots from his Parents who he described as “Prayer Warriors”. His father was very passionate about his calling as a Catechist, often going to remote villages around to preach the gospel and fasting and praying regularly at home. The name of his mother’s Bookshop “Adura Lere Bookshop” was in affirmation of his Parents’ unflinching faith in the efficacy of Prayers and Supplication to the Lord. This solid Christian Foundation helped Dr. Akingbola’s spiritual growth and when he was ordained a Pastor of the Redeemed Christian Church of God (RCCG).
Dr. Akingbola, holds an MBA degree from the University of Lagos in 1986.
Considering his humble circumstances, he felt a keen sense of responsibility to positively affect the lot of the family and help his struggling parents, more so as the first son. He thus had no time for interaction with the opposite sex, working all day and studies till the late hours of the night for his AIB examinations. But love had an interesting surprise for him, and it came in the form of a dream he had where he was in a chauffeur-driven car with a lady beside him, heading to Ile-Ife to see his Dad. He forgot about it, or so he thought, until two years later when a lovely 17-year-old lady was introduced as a new staff of the branch.
He instantly recognized her as the lady he had seen in his dreams and the sheer joy of his discovery sent his adrenaline racing. He knew that God certainly had a divine purpose for the dream of two years earlier. On October 20, 1979, the love story of the then Anthonia Tolulope Odesanya and Erastus Akingbola, culminated in their marriage.
Forty-one years later, the marriage has has been blessed with four children all of whom God has prospered in their respective endeavors. The first Son, Wole, is an Economist; the second, Toye, is a Software Engineer; their daughter, Lola, is a Medical Doctor while the third son and last born, Akinyemi, is a lawyer.
God has also blessed the Akingbolas with grand-parenthood and seeing Dr. Akingbola and his wife with their grandchildren and other members of the family gives expression to true family love and affection.
