Femi Pedro Net Worth, Femi Pedro Biography, Femi Pedro Net worth 2018, Femi Pedro salary 2018.
Femi Pedro Net Worth 2018
Femi Pedro Worth 2018: According to the recent forbes list for 2018, Femi Pedro is a Banking Executive who has a net worth of $5 Billion USD (2018).
Femi Pedro Salary 2018
Femi Pedro Salary 2018: According to the recent forbes list for 2018, Femi Pedro is a Banking Executive who has a net worth of $3 Million USD(2018).
Femi Pedro Biography And Net Worth 2018
Olufemi “Femi” Pedro (born 29 January 1955, in Lagos) was the Deputy Governor of Lagos State, Nigeria from 2003 until 2007. Prior to his election alongside Bola Tinubu, he was a part-owner and the chief executive officer of First Atlantic Bank, now FinBank.
Femi Pedro is the current Chairman of Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), as well as the Pioneer Chairman of the Lagos State Sports Trust Fund.
A scion of renowned Pa Sanusi Adeyinka Pedro- whose own father settled in the Shomolu area of Lagos before moving to Bambose Street in Lagos Island- Femi Pedro was born to late Pa Olajide Pedro- a retired officer of the defunct Western Nigeria Marketing Board, Ikeja- and late Mrs. Modupe Pedro (née Abayomi) on 29 January 1955.
Today, aside from the Lagos Island fame, the Pedro Family house is still deeply rooted around Aina Street in the Shomolu area of Lagos.
Educated at St. Stephens primary school, Adeniji Adele Road from 1960 to 1967 where he obtained the First School Leaving Certificate.
Femi Pedro subsequently attended Ahmadiyya College (now Anwar-U1-Islam College), Agege between 1968 and 1974 where he earned the Higher School Certificate (HSC) after having successfully completed the West African School Certificate in 1972.
Pedro received a Bachelor of Science degree in Economics from University of Wisconsin–Superior (1976–1978) and a master’s degree in Economics from Wichita State University (1979–1981).
He is married to Justice Jumoke Pedro, a High Court Judge in Lagos; they have 4 children.
He commenced his banking career in 1982 when he joined the country’s apex bank, the Central Bank of Nigeria (CBN). He rose to the post of assistant manager in 1985 and became a research economist the following year.
The same year (1986), he was admitted as an associate of the prestigious Chartered Institute of Bankers, London, United Kingdom having successfully completed the professional bankers’ examinations. First City Merchant Bank Ltd (now First City Monument Bank ltd) became his next port of call by 1988, where he rose to become the Executive Assistant to the bank’s chairman and chief executive officer (CEO) and later Deputy Manager and Head of Corporate planning within a period of one year.
He became one of the first set of investors in Guaranty Trust Bank along with Fola Adeola, Tayo Aderinokun (now deceased), Gbolahan Osibodu, Femi Akingbe, Akin Opeodu and a few others.
Femi Pedro later took up a senior managerial role at its inception in 1990, and he was subsequently responsible for opening a multitude of its branches across the Southern and Northern parts of Nigeria.
He served in various capacities at the bank until 1997, when he voluntarily retired. On the eve of his retirement, he was admitted to the fellowship of Chartered Institute of Bankers of Nigeria (CIBN).
In January 1998, Pedro ventured into private business as the Chairman of Agro-Corp Ventures Limited, a commodity processing company.
The same year (Nov 1998), he was appointed managing director and chief executive officer (CEO) of Comet Merchant Bank (now FinBank, following the acquisition of the bank by a consortium of investors including himself.
He served as managing director and Part-Owner of FinBank from 1998 to 2003. He was also the Chairman of the First Atlantic Online Limited from 2002 to 2003.
He resigned as managing director of the Bank after accepting to serve as the Deputy Governor of Lagos State.
He is currently a director in various business ventures, and is reportedly a 12.7% minority part-owner of Southern Sun Hotel Group in Nigeria.
Femi Pedro was elected as Deputy Governor of Lagos State in April 2003, and was sworn-in alongside Governor Bola Ahmed Tinubu the following month.
He was recruited primarily due to his Economic background; but with time, he became renowned for his political sagacity by keen political observers in Lagos, Nigeria.
Femi Pedro is widely regarded as one of the bedrocks of the economic revolution which Lagos enjoys today.
In his years as the Deputy Governor, Pedro was appointed chairman of Lagos State Revenue Mobilization committee under which the Board of Inland Revenue, the Land Use Allocation Committee, and other revenue generating agencies reported and performed admirably.
They embarked on an unprecedented and aggressive revenue drive by restructuring, reorganising and re-engineering the Board of Inland Revenue.
His wealth of experience in the banking sector came to fruition as he oversaw the increase of Lagos State’s Internally Generated Revenue (IGR) from 300 Million Naira per month to a staggering 7 Billion Naira per month in the space of eighteen months.
He was popularly referred to as “Mr. Pedronomics”, primarily due to his affinity towards micro and macro-economic policies.
Pedro also introduced and implemented the PSP and waste management model which is thriving in Lagos today.
Femi Pedro was also in charge of conducting extensive research in Brazil with other cabinet members to study and understand the novel metropolitan bus transport system which resulted in the birth of the BRT. He was given the task of raising funds from the Afrexim Bank based in Cairo to purchase the red Marcopolo buses currently plying the streets of Lagos today.
Consequently, he came up with the name LAGBUS and alongside other key cabinet members, set up the structure on which the BRT is built upon today.
Aside from leading the Government Economic Team, Femi Pedro also championed the fight against the Federal Government regarding the withheld Local Government Funds in 2003.
During the course of his term in office, he was awarded the Yoruba aristocratic title of Otunba by the people of his native Lagos. Later, he was given the further title of the Badeleola of Lagos by the Oba of Lagos in 2005.
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