Mubasheer Olabode Akangbe Agusto was born to Kudirat Olande Ashabi Agusto and Basheer-ud-Deen Adewale Agusto on the 14th of September 1955 at Creek Hospital, Lagos. His mother was from the Lawal-Kakawa family of Olowogbowo, Lagos. His father was from the Agusto family of Bamgbose Street, Brazilian Quarters/Popo Aguda, Lagos. 

On the 2nd of January 1992, Bode Agusto founded Agusto & Co. Ltd. The agency pioneered credit ratings in Nigeria, publishing the first credit ratings of Nigerian banks and corporates in 1993. By 1998, Agusto & Co. had gained such market acceptance and regulatory recognition that it was licensed by the Securities & Exchange Commission as the first credit rating agency in Nigeria. His pioneering work was recognized with his investiture with the National Honour of Member of the Federal Republic, MFR, by President Olusegun Obasanjo in 2002. 

In 2003, President Obasanjo invited Bode to serve as Director General of the Budget Office of the Federation and Special Adviser on Budget Matters. During his four years as Director General of the Budget, Nigeria ran budget surpluses every year and built savings that enabled the country to obtain debt relief and repay US$32 billion of the national debt. 

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