So sad! Vigeo boss, Gbolade Osibodu loses N38bn to naira devaluation

• Fiscal catastrophe leaves husband of Union Bank  former MD dejected and inconsolable

Gbolade Osibodu has gotten to that threshold in a man’s life when brooding tragedy and its dark shadows can only be lightened by recalling great moments of the past. The owner of Vigeo and husband of banking Czarina and Union Bank’s former Managing Director (MD), Funke Osibodu, recently lost N38 billion to devaluation of the Nigeria. It is for this sad reason that he is down. The impact of Naira devaluation against the US dollar by the Central Bank of Nigeria (CBN) is no doubt devastating on Gbolade thus he is despondent, unsure and wary of what lies ahead.

Pundits talk about his monumental loss as the world enthused and consummated the downfall of the British empire. More mischievous elements in industry are spreading malicious gossip that as the great organism would pass at a stroke out of life into history, the Vigeo boss might be unable to recover from his current fiscal catastrophe. But sources loyal to Gbolade have dismissed their insinuations as arrant nonsense. According to them, Gbolade will bounce back on his feet and recover his loss in due time.

Gbolade is a graduate of Pharmacy at the then University of Ife (now Obafemi Awolowo University) and also an alumnus of the Lagos Business School and the Harvard Business School. He also intermittently attends IHRDC’s Oil and Gas Management programs in Boston Massachusetts, U.S.A. He is a regular participant at Energy related Seminars and Conferences both locally and internationally. Prior to the birth of Vigeo Limited, his career spanned through the Nigerian Navy, the Boots Company Limited and Bodnat International.

In pursuit of his dream of becoming an entrepreneur, he established Vigeo Limited, a multi-service organisation which later transformed to the Vigeo Group.

Due to the quantum leap in growth of Vigeo Limited as a result of the emerging and increasing opportunities in its operating environment, there was need to consolidate its value chain propositions; hence Vigeo Group.

He is currently the Chairman of the Vigeo Group, the parent company to the five arms of the business; Vigeo Capital, Vigeo Oil & Gas, Vigeo Shipping, Power and Marketing & Distribution. He also serves on the Boards of other companies including, SO&U, UTC, GT Assurance, Phillips Consulting Limited and Terra Kulture. He is also the Chairman of Special Olympics, Nigeria, a global organization serving athletes with intellectual disabilities.

Gbolade was a recipient of the Member of the Federal Republic of Nigeria (MFR), one of the highest civilian national honours awarded by the former President of the Federal Republic of Nigeria, Olusegun Obasanjo. He has also received numerous awards in recognition of his contributions to not for profit organisations and also to the development of the Nigerian business economy. Source: The Capital Ng