Nigerian economist and founder of Agusto & Co, the country’s pioneering credit rating agency, Bode Agusto, has passed away at the age of 68, as confirmed by Nairametrics.
According to a family statement, the finance expert passed on in the early hours of Thursday in Algarve, Portugal and will be interred there in line with Islamic rites.
Furthermore, the statement noted that Mr. Agusto died after a battle with pancreatic cancer.
The statement reads,
- “With deep regret and heavy hearts, but with total submission to the will of Allah, we announce the passing on to glory of our husband, father, grandfather, brother, uncle and beloved friend, Mubasheer Olabode Agusto. He was 68years old”
- “He passed on in the Algarve, Portugal in the early hours of today, Thursday 19 October 2023, after a brief battle with pancreatic cancer. He was surrounded by his wife, children and grandchildren.”
- He will be interred in Portugal according to Islamic rites. We will hold prayers and a memorial service in Lagos, Nigeria in due course”
About Mr. Agusto
Before his demise, Bode Agusto was an esteemed independent consultant in the fields of economics, finance, and business strategy.
He established Agusto & Co in 1992 and the company played a pivotal role in introducing credit rating services to Nigeria and was officially licensed by the Securities and Exchange Commission, thus becoming the nation’s very first credit rating agency. Bode Agusto served as the Managing Director of the company for 11 years.
Mr. Agusto was appointed by President Obasanjo as Director-General and adviser (Budget Matters) in 2002. He served till 2007 after the end of President Obasanjo’s tenure.
He has served also as a non-Executive Director of the National Pension Commission (PenCom), the Shell Nigeria Pension Fund and a member of the Monetary Policy Committee of the Central Bank of Nigeria.
