Born and raised in the sprawling city of Lagos, Nigeria.

Femi Pedro was born in Lagos Island to Pa Olajide Pedro, an Aguda retired officer of the defunct Western Nigeria Marketing Board, Ikeja, and Modupe Pedro (née Abayomi) on 29 January 1955.

Femi Pedro’s early life in Lagos set the stage for a journey marked by excellence and dedication. Growing up in the vibrant city of Lagos, Pedro was ingrained with values of hard work and resilience, which later defined his multifaceted and illustrious career. Femi Pedro's fascinating story is not just of personal achievement in the midst of obstacles, but also of the impact he has made in various sectors. Each step of his journey reflects his commitment to progress and innovation, making him a noteworthy figure in Nigerian history.

An Economist and A Banker

His studies in economics provided him with a deep understanding of complex financial systems, which proved invaluable in his later roles in banking, politics, and community development.

Pedro's educational journey, marked by rigorous academic discipline, started at St. Stephen Primary School and continued at Ahmadiyya College, Agege. His pursuit of a higher education led him to graduate meritoriously with a Bachelor of Science in Economics from the University of Wisconsin–Superior (1976–1978), and a Master's Degree in Economics from Wichita State University (1979–1981). This solid educational background laid the groundwork for his diverse career, equipping him with the knowledge and skills necessary to excel in various fields. His studies in economics provided him with a deep understanding of complex financial systems, which proved invaluable in his later roles in banking, politics, and community development. This educational foundation not only shaped his professional path but also his approach to problem-solving and strategic planning.

In 1986, he became an Associate Member of the Chartered Institute of Bankers, London. He was elected the Chairman of Chartered Institute of Bankers, Lagos Branch, between 1996-2000. He was awarded a Fellowship of the Chartered Institute of Bankers, Nigeria (FCIB) in 1997 and was subsequently elected into the Council of the Chartered Institute of Bankers (CIBN) in 1998. In the same year, he became a member of the Institute of Directors. In 2021, Femi Pedro was inducted as a Fellow of the Chartered Institute of Arbitrators (FCIARB). He was also appointed as the Chairman of the Government and Business Relations Committee of the CIBN, a position he has served since 2020. In the same year, he was appointed the Chairman of the Nigeria-Indonesia Chamber of Commerce, where he has facilitated numerous mutually beneficial trade initiatives.

“I was fortunate to be a seed investor and join the founding team to establish GTBank, now considered the most valuable Bank in Nigeria.”

— Femi ‘FP’ Pedro

A Banking Legacy

Femi Pedro started his banking career in 1982 when he joined the Central Bank of Nigeria (CBN). His tenure at CBN marked the beginning of his illustrious career in economics. He rose to assistant manager in 1985 and became a research economist. In 1986, he was admitted as an associate of the Chartered Institute of Bankers, London, United Kingdom. He worked at First City Merchant Bank (now First City Monument Bank) afterwards in 1988, where he became the executive assistant to the bank's Chairman and Chief executive officer (CEO), Otunba Subomi Balogun. He was promoted to Deputy Manager and Head of corporate planning within 2 years. His work in these positions demonstrated a keen understanding of Nigeria's economic landscape and a capacity to contribute significantly to its growth. Pedro's experiences at CBN and FCMB were instrumental in shaping his approach to economic policy and strategy, which he later applied in his banking and political careers.

In 1989, Femi Pedro was a seed investor and part of the founding team of now one of the largest financial institutions in Africa - Guaranty Trust Bank PLC. He took up a senior managerial role at its inception in 1990 and was responsible for opening many 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 the Chartered Institute of Bankers of Nigeria (CIBN). Femi Pedro's role and legacy at Guaranty Trust Bank (GT Bank) exemplifies his innovative spirit in the banking industry. As a key figure in the establishment of GT Bank, he showcased his ability to lead and inspire groundbreaking initiatives. His work at GT Bank set a new standard in Nigerian banking, reflecting his foresight and commitment to excellence.

Building Nigeria’s
First Fintech,
First Atlantic Bank

In the transformative era of the late 1990s, Femi Pedro emerged as a groundbreaking figure in the Nigerian financial landscape. His journey commenced after retirement from Guaranty Trust Bank, leading to his influential role as the Managing Director and CEO of Comet Merchant Bank, later FinBank, following its acquisition by a consortium including Pedro. His visionary leadership and innovative strategies were pivotal in positioning First Atlantic Bank (FAB) as Nigeria's first Fintech bank, a monumental achievement in the nation's banking history.

Pedro's tenure at FAB was marked by unprecedented technological advancements, firmly establishing the bank as a trailblazer in the Nigerian financial sector. In 1999, he introduced the nation's first internet banking infrastructure and the innovative mobile money platform, "Flash Me Cash," hallmarking FAB as Nigeria's first Fintech bank. These pioneering initiatives transformed FAB's operational model and revolutionized the Nigerian banking industry, setting a new benchmark for digital banking. Femi Pedro's foresight and strategic implementation of digital solutions underscored his role as a visionary leader and a key figure in ushering in the era of fintech in Nigeria.

A critical aspect of Pedro's legacy was his strategic partnership with Infosys, leading to the implementation of Finacle™, a cutting-edge banking solution. As Pedro articulated, this partnership was driven by the pursuit of leading-edge technology to position FAB at the forefront of the banking sector in the new millennium. The introduction of Finacle™ under Pedro's guidance was a significant achievement for FAB and a catalyst for the widespread adoption of Finacle™ across the banking industry. The launch of first@tlanticonline in 2000, Nigeria’s first Internet banking system, further cemented FAB's status as a pioneer in digital banking, offering customers unparalleled access and convenience in their banking transactions.

Femi Pedro's tenure as Founder and Chief Executive Officer at First Atlantic Bank represented a landmark Nigerian banking era characterized by innovative technology and visionary leadership. His contributions to the Bank and the Nigerian banking sector at large have left an indelible mark, showcasing his role as a pioneer in fintech responsible for the widespread adoption of internet banking, mobile money and the success of Finacle™, the eminent Nigerian banking operating system resulting in the most valuable banking industry in Sub Saharan Africa.

Transformative Leadership in Governance

In December 2002, Femi Pedro was nominated by then Governor Bola Ahmed Tinubu (now the President of the Federal Republic of Nigeria) to serve as the Deputy Governor of Lagos State. He was elected alongside Governor Bola Tinubu in 2003 for a four-year tenure.

Impact on Lagos Economy

In his years as the Deputy Governor of Lagos State, Femi Pedro was appointed by Governor Bola Ahmed Tinubu as the chairman of the Lagos State Revenue Mobilization Committee. Together, they restructured, reorganized and re-engineered the Board of Inland Revenue. His experience in the banking sector helped increase Lagos State's internally generated revenue from a rate of 300 million naira per month to 7 billion naira within eighteen months.

Femi Pedro also introduced and implemented the PSP and waste management model currently used in Lagos. He 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 successful creation of the BRT. This BRT became the catalyst for the ongoing development of the Lagos State transportation system, which has seen the recent integration of the Lagos Rail Mass Transit.

Femi Pedro's tenure as Deputy Governor of Lagos State between 2002-2007 was characterized by significant achievements in revenue mobilization, infrastructure development, and the implementation of effective waste management models. His political career showcased a series of successes that have had a lasting impact on Lagos State till date. This propelled him towards several national assignments in the subsequent years.

Leadership through Service

Building on Governance

In 2018, Femi Pedro was appointed the pioneer chairman of the Lagos State Sports Trust Fund. He was instrumental in raising substantial funds from the private sector, which enabled the State Government to execute numerous sports-related projects and initiatives in Nigeria.

In the same year (2018), Femi Pedro was appointed by President Muhammadu Buhari as the chairman of the board of directors of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). His tenure at SMEDAN ushered in the digitization of small and medium-scale enterprises across Nigeria, including creating a robust database of Nigerian businesses that is still being utilized.

With Femi Otedola
With Femi Gbajabiamila
Pedros and Sawnoolus
With Oba Akiolu and Aliko Dangote
With Dikko Umar Radda

Authorship

Femi Pedro is the Author of the Award-Winning Inspirational book on Entrepreneurship titled "Formula for Wealth". The book was published in 2020, and is about the fundamentals of wealth creation through entrepreneurship, investing and leadership. It leverages on Femi Pedro’s personal experiences as a guide to help entrepreneurs with a desire to create real wealth. Readers of this book are educated on fascinating concepts of the poverty trap, money illusion and the foundational principles of wealth creation. It is a must read for anyone with a desire to create real wealth even in the midst of a global pandemic or an economic recession irrespective of the person's financial status, age or geographical location.

He has since delivered motivational lectures to local and global audiences in various institutions in the public sector, private sector and academia in relation to the subject matter. In addition, he has authored several publications on Foreign Exchange Management and the Nigerian Economy.

A Family Man

Femi Pedro is happily married to Honourable Justice Jumoke Pedro, a High Court Judge and Chairperson of the Lagos Multidoor Courthouse. Their union is blessed with children and grandchildren.