JUST IN: BODE AGUSTO PASSED AWAY

Bode Agusto, a prominent economist and the founder of Agusto & Co., the first credit rating firm in Nigeria, passed away at the age of 68.

Dele Momodu, the Chieftain of the People Democratic Party and media magnate, announced his passing on Instagram on Thursday.

“Mr. Olabode Agusto, one of Nigeria’s greatest economic wizards, has passed away,” he wrote. A credit rating agency that he formed is called AGUSTO & CO Ltd.

“When he passed away at the age of nearly 70, his adoring wife, Edna, and children were in Portugal (his adoptive homeland). May his shining spirit find eternal peace.

Agusto was a freelance economics, finance, and business strategy consultant until he passed away.

The 1992 establishment of Agusto & Co. was essential in bringing credit rating services to Nigeria. The organization received a formal license from the Securities and Exchange Commission, becoming the first credit rating agency in the country. For 11 years, Agusto served as managing director of the business.

Agusto served as a director for the National Pension Commission and a member of the Monetary Policy Committee of the Central Bank of Nigeria.

Agusto received the national honor of Member of the Order of the Federal Republic from former president Olusegun Obasanjo in 2003 for his contributions to the Nigerian economy.