Peterside

ATEDO PETERSIDE: GOOD REPUTATION PERSONIFIED

By

Seye Adetunmbi, 28/2/20

One of the most refreshing good news coming from the Nigerian Chartered Institute of Stockbrokers (CIS) is the investiture of Atedo Peterside CON as Honorary Fellow of the professional body of City Gentlemen in Nigeria. He is the sixth person to be so honored. General Yakubu Gowon, Chief Olusegun Obasanjo and Aliko Dangote made the list. This recognition is not only well earned, it was long due and thank God it happened on February 27th, 2020 at Oriental Hotel, Victoria-Island, Lagos.

Atedo N. A. Peterside (ANAP) founded Stanbic IBTC Bank PLC in 1989 at the age of 33 years. He is also the founder of ANAP Business Jets Limited while he is the Founder and President of ANAP Foundation, a non-profit organization committed to promoting good governance. Mr Peterside is currently serving as a Director of Standard Bank of South Africa Limited and Standard Bank Group Limited.

ANAP is the Chairman of Cadbury PLC from April 2010 till date and Art X Collective Limited, January 2019 till date. He sits on the Board of Directors of Flour Mills of Nigeria from March 2010 till present, Nigerian Breweries PLC (Heineken Subsidiary) from August 2018 till present and Unilever Nigeria PLC, January 2008 till date.

He served as the Chairman of the Committee on Corporate Governance of Public Companies in Nigeria; in 2011 to 2015, he was a member of the National Council for Privatization (NCP)and Chairman of NCP Technical Committee; he was a member of the National Economic Management Team in 2007 to 2010 and a Federal Government Delegate at the 2014 National Conference.

ANAP was appointed the Alternative Private Sector Vice-Chairman of the Nigerian Industrial Policy and Competitiveness Advisory Council. The Rivers-State of Nigeria indigene has passion for boating, polo, reading and travel.

Chief Emeka Anyaoku, The Chief Guest of Honour acknowledged the fact that Atedo Peterside is a man of good reputation. For this reason and the fact that Mr Gamaliel Onosode who was his Best Man when he got married, was the 1st President of CIS, he was delighted to be the Guest of Honour at the Investiture ceremony.

On behalf of the Body of Fellows, oga Tola Mobolurin, the 2nd President of CIS spoke very well about oga Atedo Peterside and said that it is a privilege having him on board as one of the distinguished honorary Fellows of CIS.

    In his response to the honour CIS has done him, Atedo Peterside spoke briefly to say it all on the economy, financial market, best practices and contemporary ethical issues. His speech was long enough to be refreshing, value adding and candid in his usual character of saying things the way they are. 

       He asked the memorable gathering to observe a minute silence in memory of “Mr Integrity”, Baba Onosode who gave him the first job opportunity to work under him at the age of 22 years. Learning under such a distinguished master was a rare privilege indeed.

    Takeaway from the response of the vintage ANAP includes giving whatever he might have achieved to teamwork while he focused on timing and business direction. For instance he didn’t venture into stockbroking business until mid 1990s because before then the whole market value was too small and it was not worth the trouble. Also when the “bubble burst” in the Nigerian capital market happened in 2007 IBTC was not affected. They didn’t get into trouble because all the pressure from his colleagues for IBTC  to join others in proprietary trading, he turned them down. He challenged them to focus on clients mandates and grow their portfolio and business generally.

    His recollection of when he critiqued policies, political decisions and told clients candid truth and the consequences of such action in a competitive market characterized with intrigues, is quite instructive. He said that while one or two people may not give you job for disciplined disposition and tough professional inclination, three, four other people may approach you to give you business transaction for who you are as a principled player. He recalled his encounter with Sir Rufus Foluso Giwa who gave him a Capital Market Issue mandate because he was the only one who was bold enough to say the truth in the keenly sought after mandate. That was vintage Chief RFG, my unforgettable Chairman.

I first knew oga Atedo by reputation as a remarkable professional, one of the few who inspired my passion for investment banking and capital market generally. I later wrote him a commendation letter in early 1990s when I saw and read his progressive inclinations in the newspaper during the difficult military era days when it took a lot of guts to criticize the despots not to talk of placing full page advert in the national newspaper. He replied my letter appreciating my initiative and disposition too.

    It is not difficult to know genuine and sincere people, they are responsive without pretenses and acknowledge mails or messages sent to them. His crusade then later gave birth to the Concerned Professionals Group that was birthed in the 1990s in Nigeria.

    After convening the Capital Market Roundtable in August 2008, I contacted him and he joined us in the preeminent all-inclusive forum for capital market operators and practitioners in Nigeria. He has been part of us till date and when it comes to sharing ideas and perspectives on national, economic and capital market matters, he will do justice to the subject matter clinically.

    What else can I say about the distinguished economist, financial market guru and investment banker of repute than to ask for good health and long life with peace of mind for the husband of Mrs Abiodun Peterside. God will continue to bless his marriage that has been endowed with children who are doing the family proud.

    It was a beautiful evening and it was refreshing for me joining my fellow colleagues in the capital market to sing our song in his honor, “For he is a jolly good fellow...” Yes, Atedo Peterside is a good man. You are welcome on board sir.

1

Seye Adetunmbi FCS, 28/2/2020

Onafowakan B.A.

ESSENTIALS OF AN EXEMPLARY PRINCE B. A. ONAFOWOKAN

First written on his 90th birthday by Seye Adetunmbi on 28/2/15, it was reviewed in 2020 to celebrate his 95th birthday

One is bound to see old age as desirable, beautiful and graceful when you encounter a remarkable Nigerian in person of Prince Babatunde Adedapo Onafowokan (BAO), the founding Chief Executive Officer of Ladgroup Limited. His carriage every Sunday, natural calmness, structured lifetime priorities, well-coordinated and simple disposition to human endeavors over the years point to one fact that he has been truly blessed by God for a distinct purpose among others; so that his life can minister to people around him and the younger generations. 

Engagement ceremony in 1956                                        Mama VA Onafowokan signed the dotted lines on August 6, 1956

Baba & Mama Onafowokan were best of friends, their bond was so inspiring and exemplary

For someone of my age who came to settle in Lagos in 1990, I could only see a tiny part of Baba Onafowokan in his Ladgroup days. In order to get a full picture of his amazing profile, it took me some research and facts finding to place Baba Onafowokan in proper perspective in this write-up which I put together to celebrate him on his 95^th birthday anniversary.

Shell West Africa Management Staff in the 1960s

It is amazing to state that within the past 95 years, BAO has been tested as a teacher, as a multinational company technocrat and as a diligent entrepreneur who is humility and empathy personified, also a selfless philanthropist and a keen man of God worthy of emulation. Through His grace, Baba having committed most of his hard earned financial resources in old age to God's work, he continues to dedicate his time and every other substance at his disposal as a gracefully aging old man to Church of Nigeria Anglican Communion.

1. Shell London Group Development Course 1966  2. BAO with the Managing Director of Shell, Bobby Reid

The Prince of Moko Royal Dynasty, Ikenne and Tunwase Royal Family of Ijebu-Ode; was born on 28th February 1925 at Ikenne in Ogun State of Nigeria. His father was Adeyemi Onafowokan and mother was Oke Makiyeti. He had his early education at Wasimi African Primary School, Ijebu-Ode and St Paul's Anglican School in Sagamu. His secondary education took him to Abeokuta Grammar School and Baptist Boys High School, Abeokuta.

A distinguished family man who gave his wards the best of education within and outside Nigeria

BAO gained admission into the University College Ibadan on scholarship which attested to the fact that he was a brilliant student among his peers which is also evident among his children to the glory of God. He was to train as a surveyor but changed the course of study to Mathematics in 1951.

Conferred Honorary Doctorate degree by Ogun State University in 1992

Prince Onafowokan passed the London Matriculation Examination in 1950 and the University of London Special Honours Degree in Mathematics in 1954 when he graduated from the University of Ibadan.

   His brief teaching job started at Ogbomosho Grammar School in 1954 and left in 1955 for King's College, Lagos. On August 6, 1956, he got married to Mrs Victoria Abimbola Onafowokan nee Ogunlesi (1931-2008), a remarkably resourceful wife, a servant of God and a great blessing to the family. He joined Shell Nigeria Limited and as a management trainee in June 1956 and taught part-time at the Federal School of Science, Onikan from 1957 to 1958. He was appointed Head of Marketing Service and Statistical Forecasting of Shell Nigeria Limited in 1958. He was promoted manager in charge of the Mid-Western Region of Nigeria in 1959 and Manager of the Western Region from 1961.

In 1963 to 1964, he was sent to London, Norway and Kenya for advanced management training courses and was seconded to British Petroleum to work in the Retail Division of National Petroleum between 1965 and 1966. On return to Nigeria in 1966, he was promoted to the post of Retail Sales Manager, a position he held till his early voluntary pensionable retirement in 1972.

Baba & Mama with Grandchildren Ps 128

The visionary and perspective prince studied the economic environment and the entrepreneur instinct in him took better part of his decision to go for early voluntary pensionable retirement in 1972. He founded Ladgroup Limited as a commodity trading company in 1971 to essentially focus on international trade based on the economic principle of comparative advantage. Ladgroup was the biggest exporter of cocoa and other agricultural commodities till 1996, the company won national awards and enjoyed immense financial support from local banks. Record has it that Ladgroup was the first indigenous private company that imported rice from Thailand in Nigeria.

1Peter 2:9

 

President Ikeja Lions Club                                                                                City Club of Lagos at Club House, Surulere

  

At 50

The head office of Ladgroup is at 24 Abimbola Street, Isolo. I recall my first visit to the premises in the mid-1990s at the instance of his son, Kunle Onafowokan when Baba gave me an assignment. I was so inspired seeing Mama Onafowokan, the inestimable jewel of Baba Onafowokan and other family members working hard in the office for Ladgroup. It was only a matter of time for the distinguished entrepreneur to be recognized and awarded an honorary doctorate degree by the Olabisi Onabanjo University Ago-Iwoye. BAO in his youthful days was actively involved in sporting activities; he played football, lawn tennis and table tennis. In fact Baba played lawn tennis till middle age and even in old age he took delight in swimming. He is a member of Lagos Lawn Tennis Club, City Club and was a former President of Ikeja Lions Club. He served at the initial stage, as a member of the Board of Governors of Olabisi Onabanjo University in Ogun-State.

         Unequivocally, he earned the title of the defacto Baba-Ijo of the Anglican Church of the Ascension, Opebi, Ikeja Lagos, for his exemplary roles in the Church over the years as one of the pioneer members. He is the Patron of the Busy Bees Society and the Grand Patron of the Choir in the church. He is also the Patron of the Elderly Ministry of the Diocese of Lagos West, Ikeja. He is a member of Our Saviour’s Anglican Church, Ikenne and the President of Men’s and Women’s Auxiliary Guild of the Church. He served as the Chairman of the Remo Diocesan Development Committee till 2013. He is the Patriarch of Victoria Abimbola Memorial Anglican Church, Ikenne.

Prince Onafowokan with his brother in-law, Professor T. Ogunlesi and Seye Adetunmbi (author)

Before I was privileged to associate close to Baba Onafowokan in the Anglican Church of Ascension, Opebi, Ikeja, Lagos, it was delightful seeing him when he was the chairman at the wedding reception of my older brother, Senator Olubunmi Adetunmbi, when he got married to Dr Mrs Bola Adetunmbi nee Adeniyi at Ilorin in 1990.

Prince Onafowokan and Ambassador Adefope on 24/10/10 at ACA, Opebi

 

 Baba Onafowokan, Prof Andrew Aroloye and cross sections of congregation 22/9/09 & 1/1/15 at ACA, Opebi

As a great planner and excellent coordinator, whenever he was made the Chairman of a committee in the church, he will look out for parishioners with the set skills to support the work of the small group. He drafted me to one of such, a Welfare Committee that was constituted to manage an investment fund initiated to meet the needs of the indigent members of the parish under his chairmanship. It is always a great pleasure being around him. He is a technocrat with a meticulous inclination that will not leave anything to chance. When he was going to commission the church building built in memory of his beloved wife, I served in the committee he constituted. During Christmas, I often receive a gift from him. When I went to thank him in December 2014 and remarked that it is his rice that I usually eat every Christmas, in his characteristic sincere and generous smile, Baba said: “God willing you will continue to eat it for as long as possible”. Baba traveled out of the country just before I marked 50^th birthday anniversary in 2012 with a public book presentation. On the last Sunday before his scheduled flight he gave me money in an envelope for a copy of the book which I later delivered to him, and he received it with delight.

Prince Onafowokan flanked by Seye Adetunmbi, Senator Biyi Durojaiye and some members of the elderly Ministry of the Church of Ascension Opebi, Lagos on January 1, 2015

Prince Onafowokan was happily married to Mrs Victoria Abimbola Onafowokan nee Ogunlesi for 52 years before she joined the saints triumphant and the marriage was blessed with five children. As a family man, Baba stands out as an exemplar. How Baba has been able to cope with the challenges of life without any visible stress is a study in contentment and lesson in submitting to the will of God, by surrendering all to Jesus Christ.

Baba Onafowokan, Mrs Tokunbo Ogunlesi, Mrs Bolodeoku and other co-parishioners at a function in ACA, Opebi

Baba Onafowokan flanked L-R by Venerable L.L. Eso, Prof T. Ogunlesi and Seye Adetunmbi on Christmas day in 2015. The 97 years old professor prayed that we that took this photograph together shall mark 100 years birthday, and we chorused amen

To say that I love very elderly people a lot, would amount to an understatement because I feel very comfortable with the arugbos. When Baba celebrated his 80^th birthday in 2005, I asked his wife, Mama Onafowokan of blessed memory, my encourager and inspirer in the vineyard, for the size of his cap and I made a special gobi native cap for him with aso agba, 1955 etu from the little piece that I have preserved over the years It is the type of vintage fabric that you can’t find around anymore. You must be really special to me and be above 80 years of age before you can get that kind of gift from me. My greatest joy is that the cap became one of his favorites. Now that Baba is a nonagenarian, I couldn’t think of any better gift for an exemplary man of God who has everything, because he has Christ and his focus is on Jesus, than to celebrate him with this token tribute straight from my heart. He has indeed brought forth good fruit in old age; and his beloved family remains fat and flourish. Yes, it is assured in the good book that “the righteous shall flourish like the palm tree. Those that be planted in the house of the Lord shall flourish in courts of our God”. Ajinde ara a ma je fun Baba l’oruko Jesu, amin.

On his 80^th birthday after the thanksgiving service

At Ikoyi Boat Club the reception of the 80^th birthday celebration

Happy 90th Birthday anniversary sir. Ajinde ara a ma je fun yin l'oruko Jesu. Amin.

90 “GBOSAS” for Baba Onafowokan!




Baba marked 90th natal day with holy communion service at Anglican Church of the Ascension on 28^th February, 2015.

Delighted Seye Adetunmbi, 28/2/15

Famoroti

CHIEF DAVID ADEOYE FAMOROTI (1918 – 2000): An Exemplary School Principal and a Passionate Ifaki Man

By, Seye Adetunmbi

Most of the early well educated men up to the University level in the contemporary Ekiti communities benefited from the generosity of the policies of the pioneering missionary societies in Nigeria. Methodist Mission would be most remembered in this regard in Ifaki-Ekiti. The first set of University graduates of Ifaki community benefited from one scholarship or the other from the Methodist Mission to further their education within and outside Nigeria. Chief Famoroti who was the 3rd University graduate produced in Ifaki community, was among the lucky few. He was born in 1918. His father was the Aro of Iwore and mother was Princess Omosunwakun Famoroti (Nee Aladegbami).

     He started primary education in 1931 at Methodist Primary School, Ifaki and passed through Elekuro Methodist Primary School, Ibadan in 1935 before completing his Standard Six at Ifaki in 1937. In 1938 he was a Pupil Teacher at Methodist School, Oke-Ayedun Ekiti and later gained admission into Wesley College, Elekuro, Ibadan where he qualified as a Grade II Teacher in 1942. His posting as a trained teacher led him to Methodist Primary School, Iperu-Remo in 1943 and returned to Methodist Primary School, Aiyedun-Ekiti between 1944 and 1946 where he met Miss Victoria E. Komolafe, a Nurse. They got married on February 24, 1946 and lived together happily for 54 years and 8 months with their children until death did part them. Between 1947 and 1950 he worked as a teacher at the following Methodist Primary Schools, Isale Aro, and Ogbe, Abeokuta. He gained admission to study Mathematics in 1950 at Fourah Bay College, Serria-Leone and graduated with B.A. Hons in 1953.

His post-graduation calling led him to Remo Secondary School, Sagamu and Igbobi College, Lagos, before getting another scholarship of the Methodist Mission for post-graduate studies in 1959. He started the postgraduate studies at St. Louis College Missionary and concluded it at Michigan State University, USA where he bagged Master’s degree in Statistical Mathematics.

      Prior to his appointment in 1963 as the principal of Methodist Boys High School, Marina, Lagos, he was the Vice Principal of the United Christian Commercial College, Apapa, Lagos. At a stage the name of Chief Famoroti was almost becoming synonymous with Methodist Boys High School, Marina, Lagos because he was the School Principal for 17 years. Between 1964 and 1969, he was the Secretary of the Conference of All Principals of Secondary Schools in Nigeria (ANCOPSS).

He was a unique character, which earned him different appellations amongst his students and children. In Igbobi College, he was “nick-named” “Bitter-Fam”. While his children called him “Manager”, Methodist Boys High School students called him “The Governor”. He retired voluntarily from Government Service in April 1980 after serving briefly as the Principal of Government College, Eric-Moore Street, Surulere, Lagos. Despite the fact that he was based in Lagos; he was able to make impact back home. He was the first elected Councilor representing Ifaki in the old Ido-Osi Local Government. It was during his tenure that Ifaki Maternity Home was established in 1957. He was among the founding fathers of Ifaki Grammar School and Methodist Girls High School, Ifaki-Ekiti.

     He would also be remembered as a devoted Christian. A lay Preacher since 1948 and was the General Secretary of Christian Association of Nigeria for three years during the time of the first visit of Pope John Paul II. In recognition of his role within the Methodist Mission, home and abroad, he was conferred the Baba Ijo of Methodist Cathedral, Ifaki-Ekiti in 1988.

David Famoroti sitting in the middle with Reverend Obaba, Papa John, William Kobina Creppy and other members of staff of Methodist Boys High School in the 1970s

Personally, Chief Famoroti struck me as a strict person and yet very friendly to all ranks who moved close to him. A careful analysis of his dispensation would reveal him as someone who loved Ifaki Community so much. This is evident in the frequency, he visited home and the kind of house he built in Ifaki, his residency in Lagos not withstanding. He actually relocated and tried to resettle at Ifaki after his retirement, permanently.

Chief D.A. Famoroti standing 2nd from left with Mr J. Ogunmoroti, Chief S. B. Aderiye, Chief J. O. Adeoya, Revd S. O. Ale and Chief M. A. Fakuade. The caucusian was Reverend John Jones flanked L-R by Reverend Babatope, Chief J. OJO a.k.a. Abudu, HRM Oba Josiah Ojo Akanle III & Rev Omotunde while Mr Emmanuel Olorunfemi squatted on the floor

There was no doubt, Chief Famoroti and my father appreciated one another considerably well in their lifetime. Most times he visited Ifaki he would stop over in front of our house and cracked jokes with his friend and classmate. He was fond of calling Baba, David or on a lighter mood “Ojo Olulu” (Ojo the drummer). An extract from the condolence message of Chief Famoroti to our family read thus:

“The news of the death of David was more than a shock, it nearly made me collapse! Why? What is happening? David did not look invalid when I saw him last in January! We chatted together when he visited me. Was he preparing me a farewell? No, Ifaki is in a big loss! Well his time has come. I congratulate him. We that he left behind will continue to battle with life…”.

10 years after, Chief Famoroti’s time came on 8/11/2000 and his body was laid to rest at Ifaki on Saturday 27th January, 2001. His wife and children survived him.