It was a Saturday of extraordinary royal theatre in Oyo State as two historic palaces became centres of power, culture and high-profile traditional honours, with former FirstBank Group Managing Director and Chief Executive Officer, Dr Adesola Kazeem Adeduntan, installed as the Balogun of Oyo by the Alaafin, while Governor Seyi Makinde and his wife, Omini, received prestigious titles from the Eleruwa of Eruwaland.
At the ancient Palace of the Alaafin in Oyo, His Imperial Majesty, Oba Abimbola Akeem Owoade I, formally installed Adeduntan as the new Balogun of Oyo, succeeding the late Dr Victor Omololu Olunloyo, former governor of the old Oyo State and distinguished statesman who previously occupied the revered stool.
Adeduntan’s installation marks the convergence of corporate excellence and ancient Yoruba royalty, with the former banking chief bringing to the title an impressive record spanning banking, development finance, institutional leadership, education and philanthropy.
He served as FirstBank’s Group Managing Director/CEO from January 2016 to April 2024, after earlier roles at Arthur Andersen, KPMG, Citibank and the Africa Finance Corporation.
He is also the Founder and Chairman of Sequoia Holdings and currently serves as Pro-Chancellor and Chairman of the Governing Council of Abiola Ajimobi Technical University, Ibadan.
President Bola Ahmed Tinubu had, on the eve of the installation, congratulated Adeduntan, describing the traditional honour as both an achievement and a call to greater service.
The President specifically commended his contributions to banking, education, healthcare, philanthropy and national development.
The Balogun title also adds another dimension to Adeduntan’s traditional identity, coming on the heels of his existing position as Apesinola of Ibadanland and further linking his public profile to two of Yorubaland’s most historically significant cities.
While Oyo celebrated the elevation of one of Ibadan’s accomplished sons, another royal show was unfolding several kilometres away in Eruwa.
At the Palace of the Eleruwa, Oba Samuel Adegbola Ajobo Olurin I, the Eleruwa of Eruwaland, conferred the title of Aare Asoludero of Ibarapa Land on Governor Seyi Makinde, while his wife was honoured as Yeye Aare Asoludero of Ibarapa Land.
The ceremony formed part of activities marking the Eleruwa’s first coronation anniversary, with the newly renovated and extended palace serving as the stage for another grand display of Yoruba royalty, culture and political presence.
Several prominent political and traditional figures had featured in the anniversary activities, including former Deputy Governor of Oyo State and APC chairman, Moses Alake Adeyemo; Speaker of the Oyo State House of Assembly, Adebo Ogundoyin; Head of Service, Mrs. Adenike Ayobami Fasina; APM governorship candidate Bimbo Adekanmbi; members of the Oyo State Executive Council and a long list of traditional rulers from across Ibarapa.
Yet, beneath the colour, pageantry and celebration, Saturday’s royal convergence carried a striking political and traditional subtext.
Perhaps the most intriguing sight was the presence of the Olubadan of Ibadanland, Oba Rashidi Adewolu Ladoja, at the Alaafin’s palace.
His appearance was bound to attract attention because the relationship between the two foremost monarchs has, in recent months, been subjected to intense public scrutiny following a series of incidents surrounding royal protocol and the leadership of the Oyo State Council of Obas and Chiefs.
Earlier in January, the inauguration of the council under a rotational chairmanship arrangement involving the Olubadan, Alaafin and Soun generated a fierce debate over traditional hierarchy.
Critics argued that placing the Alaafin on a rotational footing with the other two monarchs diminished the historical pre-eminence associated with the Oyo throne.
The Alaafin’s palace subsequently denied claims that the monarch had been consulted on or endorsed the arrangement.
A separate incident at an interfaith gathering, where footage appeared to show the Olubadan not reciprocating a greeting from the Alaafin, further fuelled the perception of a royal cold war, although interpretations of the episode varied.
Against that backdrop, Ladoja’s appearance at the Alaafin’s palace assumed a significance far beyond ordinary royal courtesy.
It was not merely a meeting of two monarchs.
It was a striking picture of two traditional institutions that have recently been portrayed by sections of the public as being locked in a contest over status, protocol and influence — now sharing the same royal space.
And then there is politics. Ladoja’s presence also carried political undertones because of his widely reported relationship with Senator Sharafadeen Abiodun Alli, the APC governorship candidate and former political associate of the Olubadan.
Alli served as Secretary to the Oyo State Government and Chief of Staff under Ladoja and has emerged as one of the leading figures in the 2027 Oyo governorship contest.
Reports have repeatedly linked Ladoja to his political ambition, although the extent of any formal endorsement has been the subject of differing accounts.
Indeed, the political temperature rose considerably earlier this year when the Oyo State Government proceeded with the elevation of Alli and two other Ibadan high chiefs to Obaship status despite their absence from the coronation ceremony.
The development generated speculation because crown-wearing traditional rulers face restrictions regarding partisan political participation, potentially creating a dilemma for Alli’s governorship ambition.
Consequently, the image of Ladoja at the Alaafin’s palace on a day when Governor Makinde was being honoured elsewhere in the state was almost certain to generate political interpretations.
Yet, caution is required. There is no established evidence that Ladoja’s appearance at the Alaafin’s palace was a political statement against Makinde, just as there is no conclusive evidence that the Alaafin and Makinde are presently engaged in a personal royal feud.
In fact, the Alaafin himself expressly rejected such reports in April, declaring that his relationship with Makinde was cordial and that any disagreement, if it arose, would be resolved privately.
Still, the perception of tension did not emerge from nowhere. One of the major flashpoints has been the broader struggle over the place of the Alaafin within Oyo State’s traditional architecture.
In February, the Makinde administration elevated 14 chiefs and Baales in Oyo to crown-wearing Obas despite a pending Supreme Court matter connected to the Ago-Oja stool, a development that placed the state government and the Alaafin’s institution on opposite sides of a highly sensitive traditional question.
That episode, coupled with the controversy surrounding the rotational chairmanship of the State Council of Obas and Chiefs, has ensured that virtually every major royal gathering in Oyo now attracts a second layer of interpretation.
Saturday was therefore more than a celebration of titles. It was a meeting point of royalty, politics, history, influence and symbolism.
At Oyo, the Alaafin elevated a modern corporate titan into one of the most revered titles of the ancient Oyo Empire.
At Eruwa, the Eleruwa embraced the sitting governor and First Lady with prestigious Ibarapa honours.
And at the Alaafin’s palace, the appearance of the Olubadan added an unexpected twist to a day already loaded with royal significance.
For observers of Oyo politics and traditional institutions, the question will not simply be who wore which crown or who received which title.
It will be what these images, alliances and royal courtesies ultimately mean in a state where 2027 politics is already casting a long shadow over the palace walls.
-Dare Adeniran
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