CHRISTIANITY AND ANGLICANISM

“Train a child in the way he should go, when he is old he will not depart from it” Proverb 22:6 

By, Seye Adetunmbi

PROLOGUE

Sometime in 1980, during vacation in my Higher School Course days at Christ’s School, Ado-Ekiti, my venerable father, Chief D. O. Adetunmbi said that the Most Reverend Joseph Abiodun Adetiloye, the second Bishop of Ekiti Anglican Diocese wanted to see me. I asked my beloved father (Baba), what the Lord Bishop wanted to see me for? Baba said that he did not know. “When you see him he will tell you” my father said. I was a bit scared because I wouldn’t know if I have done anything wrong again. Because the last time I went to see him at the Bishop’s residence on top of Agidimo Hill in Christ’s School premises, and requested for his signature on my JAMB form, he seized the neck chain I was wearing and admonished me before responding to my request. I felt so ashamed of myself that he caught me, meanwhile I thought the tiny chain was hidden under my white school shirt. As instructed by my father, I went twice to see him at Ado-Ekiti from Ifaki-Ekiti but my visit fell within when he was busy with episcopal duties and was unable to see him. Ironically, I was happy because I was not sure what was awaiting me and was deliberately avoiding the bishop.

Many years after, out of curiosity I asked Baba again if he had any idea of why the Lord Bishop wanted to see me. He then said that the Most Reverend Adetiloye once said to him that considering his outstanding devotion to God’s work particularly in the Anglican Communion and since he won’t be able to take up fulltime clergy work, he wanted to have one of his children so inclined to become a priest. I have been one of my father’s choristers under the age of ten. Being a connoisseur of harmonized church music himself, he discovered that I was already experimenting vamping on his 1916 model French Christophone organ at the age of 7 years. I accompanied him to several church related functions in various parishes and to diocesan functions. At some point in time, I was his driver to all these places. Apparently, Baba had noticed my interest in everything he was involved with. He then told the Lord Bishop that he would send me to him. I must state that it was quite relieving for me that it was not a case of my doing anything wrong that the bishop wanted to see me. At the same time, I was happy that I didn’t see the bishop because becoming a priest was not on my radar then. 

    I went through this background of my remarkable experience to underscore the fact that God works in mysterious ways. Also that whatever He has destined for us will manifest no matter how long it takes. Today, if there is anything I wish to come to pass, it is to become an ordained priest in the Church of Nigeria (CON), Anglican Communion. This also reminds me of my teenage years when I was rebelling the cutting of my hair, I felt so amused in the recent past when I was visiting the barber’s shop fortnightly because I was feeling uncomfortable with the hair on my head after two weeks. 

    Apart from being a chorister as a little boy in the choir of my father the virtuoso church organist, over the years, without the prompting of anyone, I joined the choir of Anglican Church of the Ascension, Omodara Street, Opebi. I served in the parish council of the church for about 10 years after being elected as a two-term synod delegate and as a parish councillor. On the 1st of December 1996, I was among the pioneer set of trained altar servers in the parish, an initiative of Venerable Phillip Bolude Oyebolu. On August 7th 2014, I graduated with Diploma from the Lagos Anglican Bible College (LABICO) and on December 9th 2016, I was commissioned as a Licensed Lay Reader of the Lagos West Anglican Diocese at St John’s Anglican Church, Iju-Ishaga by the Right Reverend James Olusola Odedeji. Man proposes, God disposes, I am gradually getting close to wearing collar which I ran away from, 30 years ago! 

    I have been privileged to interact with a wide range of people and some of them have been a great source of inspiration for me in the Lord’s vineyard. Baba, Venerable B. P. Oyebolu, one of my mentors who gave me the chance to preach my first sermon on Good Friday in 1997 (28/3/97). After listening to my homily, Mama Victoria Onafowokan said that I should go to LABICO and consider seminary thereafter. Also a friend of mine, Pastor Yomi Oguntuase of a new generation church sect, recently remarked that I have written a number of books on my professional calling and on a wide range of subjects, and that it is imperative for me to write a book dedicated to God who gave me the intellect and vision. Initially, I thought that I should wait until I become an ordained priest before I write any Christian book. Through the grace of God, the inspiration came that I should first publish this one and as the spirit directs and the Lord Almighty permits, subsequent ones may follow. 

    This book is titled Christianity and Anglicanism, primarily because I want a timeless one-stop devotional pictorial-handbook that will first and foremost appeal to the sensibilities of Christian faith believers of all races while the major part of it will serve as a spiritual and seminary companion for fellow communicants and members of the Anglican Communion. In addition, those who are yet to grasp the doctrines of Christianity very well or appreciate the religion better will be able to relate with the book that will attempt to answer most of the probing questions of what, why and how. 

    Based on my modest knowledge as a growing theologian and moderate experience on how to attain the desired intimate spiritual relationship with God, this book is structured into six sections. The Christian book is historical with vintage pictures. It contains brief research on the history of Christianity, the prophets, the early apostles and the early church with a concise expose on the old and the new testament. It is important to have a clear knowledge of the Christian religion, therefore the “Articles of Religion” in its original form constitute the second chapter in the first section of this book. It should guide those who are yet to become Christians to know how to go about it while it should refresh the believers to become better Christians. The second section is about Anglican Communion, its doctrines and practices in the Church of Nigeria. A chapter is dedicated to Catechism while there are highlights on the structure of the church with relation to the various departments that complement the work of the vicar such as the choir, lay readers, altar servers, stewards, vergers, sextons etc. 

    The contents of the third section are mostly my LABICO notes and submitted assignments, while the fourth section is devotional. It is dedicated to holy communion, its efficacy and the principle of acquiring spirit filled power through being a communicant. It can guide daily growth in spirituality and how to share the power of the Holy Spirit for personal victorious daily living in Christ. This section is meant to enlighten believers of the worthiness of taking communion in order to have full benefit of the supernatural power therein. The fifth section is devotional too, it contains my few sermon notes as a Lay Reader and published articles on the essence of Christianity. The last section is a collection of integrated spiritual commentaries quoted from various published sources. It contains some selected words of God, applied bible passages that can be deployed for functional prayer points tips that could help in living a spirit filled Christian life. The annex of the book contains definitions of some biblical and theological words that could enhance further understanding of Christian religion and a directory on CON. 

    Most of my published books are fundamentally pictorial because I record most events I witnessed in photographs and at every opportunity I share them for posterity. Therefore, this spiritual book is not an exception, it has its own share of vintage memorable pictures. The culture, tradition and practices in the Church of Nigeria, Anglican Communion were recorded in pictures; some of the photographs I took personally and were published in this book. Apart from capturing church events such as consecration of a bishop, collation of an Archdeacon, church dedication, some vintage pictures of early missionaries in Nigeria were included. I was also able to tell my humble story as a keen church man with pictures as a chorister, altar server, lay reader, synod delegate and Bishop’s nominee to Ekiti-Oke Diocesan Synod. 

    This book to reasonable extent is a response to the need to bridge the yawning gap between the way the older generation was brought into Christianity and the way the new generation understands what Christianity is all about. A sect of the new generation is not very clear about Christianity, especially what the core gospel of Christ is all about and how believers are expected to live a fruitful Christian life and be happy, comfortable and contented. The lifestyle of Christians is expected to positively encourage people around them. In essence, Christian ethics should impact positively, all aspects of the social and societal life as individuals and the nation. Not very many people grew up in a family set up where Christian doctrines were inculcated from childhood. This book may help feel some gaps. I remember how my day started with family devotion very early in the morning with my father on his 1916-model French Christophone organ, while all family members sang from the Yoruba Hymn Book, followed by short exhortation and prayers. It was also repeated by 8pm before we went to bed in Ifaki-Ekiti. The catechism thought me right from primary one at St Michael’s Anglican Primary School, Ifaki-Ekiti in 1968 still resonates in my memory. Reverend Ogunjana, my teacher would ask us in Yoruba language in the class: “Ta ni Abrahamu (Who was Abraham)? We would respond with excitement on top of our voices in the class: Abraham ni apere igbagbo oun si ni Baba gbogbo wa. (Abraham was an example of a believer and the father of all). 

    In order to be a dedicated believer, it is imperative to understand what Christianity is all about and to be clear about Christian theology or grasp basic doctrines upon which the life, the teaching and the example of Christ are based. Otherwise, it would be difficult to differentiate or discern the fundamentals of Christianity from other religions. Consequently, Christians should be able to present their faith in its practical applications within the doctrines that are in consonance with the correct interpretation of the scriptures. This can be achieved if they allow the true traditions of the early church to guide them in discerning the formularies which will enable them to derive the spiritual benefits of sharing the power of resurrection and be filled with fruits of Holy Spirit for personal development to uplift their environment to the glory of God. 

    This is an uncommon Christian literature because it does not only have spiritual underpinnings, it tells the story of how Christianity spread to Nigeria through the West African coast. This makes the book to be historical, instructional and a devotional companion for Christians. In all, this book should encourage the readers to relate with their Holy Bible more. Nothing can replace the place of the Bible in the Christendom. I am therefore humbly pleased to present this spiritual handbook to interested people and Christians generally. May God’s grace be sufficient for everyone who reads the book.

EXTRACTS FROM THE FOREWORD AND PREFACE OF THE BOOK 

The Rt Rev J. O. Odedeji, Bishop of Lagos West Diocese wrote:

Quote 

“I cannot but express my delight in having the singular privilege of writing the foreword to this justifiable literary effort by my brother, friend and co-laborer, Bro. Seye Adetunmbi, in defense of the Christian faith and our own cherished Anglican heritage.

His display of interest and knowledge of the foundation of the Christian faith vis-a-vis the historic formulary of the Church is quite spirit lifting and commendable, especially for a laity that is yet to be exposed to core seminary curriculum.

The author in this six-section book addresses a plethora of issues bothering on the Christian faith, Anglicanism, Theology, Doctrines, Holy Communion, Christian Service and Spirituality, and lace them with glossary of Christian terminologies and extracts of useful information about the Anglican Church structure and history.

For all purpose and intent, this book promises to be more than just a Christian literature or prose; reading through it tempts one to want to pass it for a Christian’s Handbook. It is in the light of our appreciation of the factual content and spiritual import of this literary work that we commend it to you for reading and appropriation of its associated blessings.”

Unquote 

The Rt. Rev’d Isaac Olatunde Olubowale, Bishop, Diocese of Ekiti Oke wrote:

Quote 

For Seye Adetunmbi this is grace for actualizing his passion for fulfilling his mission and ministry. The handbook for believers in Christian faith epitomizes a unique learning experience, shaped in six sections, with annexes, index and what you need to know about the author.

The book is a product of a background of remarkable experiences to underscore the fact that God works in a mysterious way.  The author sees it as a fulfilment of destiny upon him with reminiscences of cumulative events from age 10.  Thanks be to God for his visionary Venerable Father, Chief D. O. Adetunmbi and other mentors on his path to growth and development. Certainly, the Bible is true in saying: Proverb 6:22 “Train a child in the way that he should go, and when he is old he will not turn from it”.

The book is written to foster a deeper understanding of Biblical truth, History, Doctrine, Christianity, and the Church, etc. in a world where Christianity is misunderstood – and often dented-by people, powers, and forces that shape modern-day society. 

The book and the author do not claim to have all the answers; to the subjects treated therein; it offers you introductory thoughts to start you on your way to a more thorough understanding of its content and all that tend to godly manliness.

 Those who will benefit from the book include: persons willing to live the lifestyle of Christians to positively encourage People around them. Impact positively, all aspects of the social and societal life as individuals and the nation, even to the uttermost part of the earth. 

Those contemplating response to call to the ordained ministry, will gain a taste of what lies ahead. Those in ministry who have had neither time nor opportunity for a formal program will surely deepen their biblical, ecclesiastical, doctrinal, and theological knowledge. For laypersons who serve in the Church as ancillary to the ordained ministers, they will derive joy in serving the Lord when they go through this book. The fact remains that what you put into the study of these chapters will have a direct bearing on what you take out.

 This book is for the equipping of the Saints Militant.........We thank Seye Adetunmbi for yielding himself to God for this timely, unique, great, and godly work of the moment. May you increase in anointing in Jesus’ name. 

To the numerous readers,

may what you read, mark, experience, and inwardly digest in this volume, inspire your mind, open your heart, and enrich your soul. Make you fruitful in godly Christian services to humanity to the glory of God. Amen. 

 We therefore send out CHRISTIANITY AND ANGLICANISM – A Handbook for Believers in Christian Faith in the name of God, the Father, Son, and the Holy Spirit. Amen.”

Unquote 

The Venerable Segun Agbetuyi wrote:

Quote 

“Mr Adetunmbi is becoming a rather consistent writer. And he writes with a versatility of themes and topics. Right on the heels of his book on the Nigerian Capital Market still basking in its recent launch, he is now adding this refreshing book on religion to his growing intellectual stable. 

This book, broadly titled Christianity and Anglicanism is both evidence based and anecdotal. It profiles the history, character and nomenclatures in the Church of Nigeria (Anglican Communion) in a wide aperture literature mixed with throw backs to the author’s father and family’s commitment as dedicated Churchmen, and of course the author’s personal , spiritual and career growth. Son of a Scion and dedicated Church Organist, Seye himself has self consciously developed into a well rounded personality, adroitly blending a career in the Nigerian finance sector with deepening spirituality and active service as a niche Churchman. 

There is a flow of the spirit which leads one to expect that the author will naturally progress into full priesthood. Fortuitously, this journey, long began as a child chorister and later an Altar Server has been given wings by his licensing as a trained Apostulate by an astute Church Administrator and keen developer of men, The Rt Reverend James Odedeji, Lord Bishop of Lagos West. Seye’s ordination into the priesthood will certainly represent a deserving, crowning glory to the dedicated labour in the vineyard of the Adetunmbi family of the St Michael’s Anglican Church, Ifaki –Ekiti.

Even though this book, Christianity and Anglicanism may appear esoteric at first, it is certainly going to be a treasured companion to not only Anglicans and Christians but to all who may seek to understand us in the faith that we profess and practice. There are about 2.5 billion adherents to the Christian faith Worldwide out of a world population of over 7.5 billion. Of these, there are over 110 million Anglicans. The Church of Nigeria, with over 20 million adherents in Nigeria alone is certainly a force to reckon with in matters of faith & religion. 

Mr Adetunmbi’s book opens a window unto further interrogation that Christians worldwide and Anglicans in Nigeria and elsewhere must advert their focus upon. His  work as encapsulated in this book offers a rich distillation of factual history and anecdotes beautifully embedded with a classic photoscope. It stands gallantly upon the shoulders of time and opens the window for more intellectual, spiritual and policy discourse on the pathway that Christianity & Anglicanism must thread for survival and viability. 

The book is highly recommended to not only Christians but to all discerning minds as a tool towards understanding how the faith of our Fathers is practiced under Anglicanism.”

Financial Market

Endorsement of a Functional Handbook for Financial Market Operators by the Stakeholders 

By, Seye Adetunmbi 

The relevance of a standard functional guidebook for operators and practitioners in the financial market cannot be over emphasized. In effect, facts, information and knowledge which are key to market development and growth. Information, no doubt, it is a significant ingredient of a perfect market. This is why one of the characteristic features of the stock market is that it is one of the examples of a typical perfect market. Fundamentally, information drives the market, it engenders efficiency and a competitive market. Knowledge also aids efficiency and facilitates professionalism. For instance, when an issuer or a client is adequately informed about the workings of the market, it makes service delivery timely and mutually beneficial to all parties concerned. It will surely impact on the timeline for the issuing process from mandate date to completion of the capital market issue and necessary returns are done accordingly. This is why technocrats, market players and all ranks of financial market practitioners hailed the initiative behind the publication of the book titled Financial Intermediation: Operations and Practice, authored by this writer. The book was proficiently packaged as a textbook and a practical guidebook for financial market operators and practitioners.

    At the public presentation of the guidebook to the public on July 21st 2020, the Chairman of the book presentation, Dr. Alimi Abdul-Razaq, Chairman, Forte Upstream praised the author’s brilliant service to humanity in his opening remarks. He said: “The collage of pictures in the book brought back the memory of the capital market which I used to be part of and still a part of; the book shows how the market has grown and tries to establish pathways to the future. He remarked further: “The zoom presentation of the book was unique as the first online book presentation in our clime though the author is not a first-time publisher.” 

    The book reviewer, Bola Ajomale, Managing Director of National Association of Securities Dealers PLC described the book as a fantastic work on operational works in financial intermediation. “It is an excellently punctuated book, a great work in academic exercise and would be a wonderful addition to anyone’s library.” Also in the earlier review done by Tayo Shenbanjo, a licensed financial advisor and a compliance practitioner based in the United States, he wrote: “The book is a useful compendium for financial market operators, capital market professionals, and university students. It will also serve investors, portfolio managers, college professors, and government functionaries in the pursuit of financial knowledge and understanding.” 

    The investment banking guru and Chairman of ANAP Foundation, Atedo Peterside, wrote the foreword of the book. He was a Chief Guest of Honour at the book presentation and commented thus: “Seye comes across to me as a perfect gentleman. I am glad I wrote the foreword to the book which I read in-to-to. It is a combination of theory, practice and history of the capital market. I commend him for having the courage and commitment to doing this. I am proud to be associated with the book”. 

    The Director-General of the Securities and Exchange Commission (SEC), Alhaji Lamido Yuguda said: “I am really impressed with what I have read in the book, it is major contribution to the capital market Nigeria. I particularly like the section on securitisation because we have a lot of huge assets that can be securitized. This will address the dearth of securities which our pension funds and other portfolio mangers can invest in. We need to do a lot more in terms of bringing investors back to the market and create more awareness. I urge other professionals to share their experience too by writing books.” 

    The Chief Executive Officer of the Nigeria Stock Exchange, Oscar Onyema, said the book will fill a lot of vacuums that exist when we talk of the capital market in Nigeria. “Very apt that such experiences are documented in a book that many generations yet unborn will yet meet and find useful”. 

    In her distinct commentary during the book presentation, Ms Arunmah Oteh, of Oxford University and former Director-General of SEC in Nigeria, used the opportunity to bare out her thoughts on the Nigerian economy and the market. She said: “I am delighted to join you from Oxford today, thanks to technology. I must say that it is a timely book, coming out post the unprecedented global crisis. The crisis has turned back the hand of the clock on the global economy, on the African economy and on the Nigerian economy. With the extreme level of poverty in Nigeria and steep decline in 2020 in oil prices, it is no longer tenable for Nigeria to depend on fossil fuel for export revenue and its well-being. Especially because, our greatest resource is our people and the unique enterprise experience, and of course it is the capital market that unleashes this. Therefore, effort to diversify the economy has to be accelerated with a sense of urgency. The book will enable regulators, market participants, issuers, investors - retail and institutional to understand better the jewels and gems of the market. I believe that a vibrant domestic capital market will be at the epicenter for any nation that wants to build forward together. Nigeria must look for more innovative ways to generate resources for building forward together. The domestic capital market provides patient capital so that we can expand businesses, create new businesses and create jobs. It is also good for good governance, for meritocracy and appropriate capital allocation. I am absolutely excited by what this book will do for us and financial intermediation, because it can help to truly unleash the potential of our market. It is a book written by a veteran investment banker and stockbroker who understands the Nigerian economy from his wealth of experience garnered in the several positions he has held. I like the fact that he is a candid commentator on the Nigerian economy. He is the convener of the Capital Market Roundtable in Nigeria. In his humble's way, he talked about learning from others, but he has actually thought a lot of people over the years. I appreciate the author for talking about about democratisation of the Nigerian economy for the participation of an average Nigerian. The book will help retail investors to know what to look for in financial intermediaries, how to invest in the market and know their rights. As I have always said, the first line of defense for any investor is the investor’s knowledge; this is the most important risk management tool. The book also gives international investors a primer on Nigerian capital market and offers wise nuggets that will enable them to identify great opportunities that Nigeria has to offer. The author, Chief Seye Adetunmbi is a role model worthy of emulation for his humility, sense of community and his involvement in the church as evidenced in the way he has been honoured. I must appreciate his wife, Mrs Olabowale Adetunmbi, a distinguished lawyer and other family members for allowing the Nigerian capital to share him with you. Let me thank you for your service to the nation through the capital market, also through your writings that extend beyond the capital market; it covers culture, Nigerian economy, history and politics; you illuminate Nigeria for people within and outside world to appreciate. I look forward to a nation and society that will continue to benefit from your intellect and commitment to showcasing Nigerian capital market in Nigeria and Africa.”.

    Chief Oladele Fajemirokun, a distinguished entrepreneur and the Chief Presenter of the book to the public said: “The book displays arrays of historical and empirical knowledge about the Nigeria securities markets. A number of activities I participated in and I still participate. I congratulate ‘Seye and urge him to commence work on the sequel. I am delighted to present and recommend this book to practitioners, investors and students”. 

    In his remarks, Senator Ibikunle Amosun the Chairman of the Senate Committee on Capital Market and one of the lead presenters for book said: “There is a problem in a nation where politicians are richer than the investors. If Nigeria is going to get it right as a nation, our capital market must be robust. This is why this kind of a unique book is the way to go and that the senate will always encourage initiatives like this.”

Dr. U. J. Itsueli, Chairman of Dubril Oil Limited and President of the Old Students Association of Christ School, Ado-Ekiti said: "I find the book very appropriate, it is a useful guide for navigating the market as a non-operator. The collage of pictures in it brings a lot of nostalgia. I congratulate Seye and I must say that I expect no less from him being an alumnus of Christ’s School". 

    Charles Iyore is quoted thus: “Congratulations Seye for demonstrating again the more important component of a stockbroker. A stockbroker is licensed to deal in securities on third party platforms or exchanges. The most important attribute of the broker, however, is his advisory role, his capacity to advise the investor, individual or corporate, on how to buys and sell securities in other sectors he is unfamiliar with…. If the economy is serious about growth, it must go back to appropriately engaging the broker/advisers, or forever remain in a vortex. While in an advisory role with the Nigerian Stock Exchange, we tried to build the brokers into names, (Seye Adetunmbi Inc. James John Inc.) through road shows and aggressive issuer programmes. That programme of individual incorporation would have been concluded, with our designated broker programme as a continuing in-plant programme for listed companies. There were diversions at the end and those errors have now come home to roost, with a capital market unable to drive economic growth. Seye, you have always demonstrated the ability to think outside the box, and this book is a testimony to your continuous and independent market analysis.” 

    Other comments on the book captured include: “Brilliant expository dissertation” - Ven L. L. Eso; “Another excellent and detailed book by Seye Adetunmbi. The book is good as a practitioner's guide and also as reference manual. A well-researched book to satisfy other professionals in the capital market. Well done” - Otunba Akin Osiyemi; “This is very good. It's like a reference manual text book personal account rolled into one. It may easily pass as a guide to investment banking in Nigeria. Kudos." – Bolade Oyebolu; “It is indeed a book on the theory and practice of financial intermediation with special reference to Nigeria. Full of practical examples and relevant historical details, it will be a useful handbook for students and experienced operators in the financial market.” – Banji Ogungbemi. 

    In all, Tayo Shenbanjo wrote to conclude his review of the book: “This is a beautiful exercise in trying to mesh a lot of topics together in one book. As a prolific author of other subject matters, one can only hope that he will do a follow-up with another good book in not too distant future. Senator Olubunmi Adetunmbi, while giving the vote of thanks during the book presentation to the public commended the publication as a milestone book which is well received by captains of the market particularly that the book was launched on the author’s birthday. To round-off the memorable event, the President of the Chartered Institute of Stockbrokers (CIS), Tunde Amolegbe led the family song of stockbrokers after saying: "Seye has demonstrated again has shown his multi-talented part, from being a floor-based stockbroker to an excellent capital market practitioner and now an author and a publisher.  The accolades will keep coming and we your fans will be there to for you; we know the best is yet to come. Congratulations, it is a book we will like to recommend to our CIS students"

    Let me state here that when I realised the need for a guidebook for the financial market operators after I joined the capital market in 1990, I started taking notes. It is a thing of joy that the book is now available on Amazon through this link https://www.amazon.com/dp/B08BNFHWN1/ref=nodl_ and some strategic sale outlets in Nigeria. An applied book like this one is unequivocally very good and strategic to the market. It complements the awareness scheme of the regulatory body, makes it easier for the investment bankers and stockbrokers to do their jobs while keeping the clients adequately informed on the workings of the market. In essence, it is a win-win situation for the tripartite market stakeholders – Clients, Operators and Regulators. 

CHANGING THE STORY OF DEVALUATION IN NIGERIA

By 

Seye Adetunmbi 

The action of the CBN to devalue naira becomes inevitable due to the reality of the pressure on the national reserve towards meeting the federal balance of trade obligations. Many factors are responsible for the situation we find ourselves as a nation today. In the first instance Nigeria was far more productive in the 1980s when a dollar exchanged for less than 70 kobo than the prevailing situation in the present setting. Nigeria is no longer the net exporter of refined petroleum products as it used to be in the 1980s. As a matter of fact, the country has been importing all refined petroleum products we consume for years till now. At what point did we get it wrong and national fortune nosedived? Just imagine, Kwalipipe in Kano produced pipes for local use, toilets were fitted with WC produced in Kano and Abeokuta, the cylinders for the cooking LPG gas were produced at the NGC factory in Ibadan, the electricity generated used cables produced by the Nigerian Wire and Cable, Ibadan and Kablemetal in Lagos and Port Harcourt. What did the government or we as a nation do to increase capacity to meet increasing demand locally and not resort to importation?

    The era of assembled cars, buses and trucks locally had gone with the winds. What happened to Peugeot cars in Kaduna, Volkswagen cars in Lagos, Leyland bus in Ibadan, ANAMCO bus in Enugu, and Steyr in Bauchi that was producing agricultural tractors for Nigerians?

The value chain of a vibrant vehicle assembly sector extended to the production of accessories and components of the automobile vehicles and tractors. For instance, Vono was producing the seats in Lagos, Exide produced the batteries in Ibadan and was serving the West Africa belt. Likewise, Isoglass and TSG produced the windshields in Ibadan; Ferodo produced the brake pads and discs in Ibadan; Tyres were produced by Dunlop in Lagos and Mitchelin in Port harcourt. These were tyres produced from indigenous rubber plantations within the country.

    For many years, radio and television sets were assembled in Ibadan by Sanyo; refrigerators, freezers and air conditioners were produced by Thermocool. Nigerians were putting on clothes produced by UNTL textile mills in Kaduna and Chellarams in Lagos with cotton grown by Nigerian farmers. As little children and young adults, we used shoes and sandals produced by Bata and Lennards with locally tanned leather from Kano and Kaduna. I remember flying Nigerian Airways as a student from Ilorin to Kaduna with N15 or something. The airline flew to most places in the world and it was about the biggest in Africa at its peak. 

Where did Nigeria miss the road? Virtually all kinds of foods are being imported to Nigeria until recently. The period we had a stable exchange rate, most of the food Nigerians ate were grown and produced locally.

The solution to the foreign exchange challenges in Nigeria today is a collective responsibility. The country needs a progressive and positive-purpose driven leadership to pilot the structured solution coupled with a strong political will.

The country needs to rejig the national policy on productivity drive. What are we producing now and what are we set or planning to produce that will be backed with measurable action.

The government must be fiscally disciplined. It becomes imperative to set out clear incentives for local resource-based manufacturing companies. This will be implemented with a combination of example setting and trade instruments. There is need for a deliberate national orientation structured to change the consumption culture of Nigerians. This is not just going to be about food but in all things, by consuming what Nigerians produce and shunning what we do not produce. 

Of course, we must deploy our technocrats effectively and return to planning the Nigerian economy. The government needs not to control the commanding heights of the economy but provide incentives for activities in a well-structured manner to ensure rational input-output congruence. 

If Nigeria determinedly can implement those things, and by extension invest more in technical education at all levels, encourage faster domestic capital formation, supplemented with foreign direct investments, things will look up and all other things being equal, the economy should be radically transformed within fifteen years.

We are talking about true transformation that will create more distinguished entrepreneurs of international standing. The story of Nigeria will change to looking for people to employ and the speculation in international circles will be when Nigeria will revalue its currency. This recurring devaluation will be historical footnotes. It is doable with persistent determination. The history of South Korea, China and India is a reference point. With sincere leadership committed to a vision that all well meaning Nigerians buy into, we will get there. This is the minimum expectation from the current government. I have no doubt in my mind, President Buhari is up to the task for the succeeding administrations to build on.

Adelusi-Adeluyi

CELEBRATING QUINTESSENTIAL PRINCE JULIUS ADEUSI-ADELUYI AT 80

By, Seye Adetunmbi

In the contemporary world, not many people are multi-talented and naturally gifted in various laudable ways. It takes the grace of God and conscious personal development to be brilliant, decent, urbane, impeccable in personal carriage, attain national prominence in one’s calling and yet rich in indigenous culture and tradition. One of the remarkable Nigerians in this category is Prince Julius Adewale Adelusi-Adeluyi OFR, mni. He is an accomplished pharmacist and a legal practitioner. When the prevalent situation was for private company owners to hold tight to the equity shares of their company, he got Juli PLC quoted in the 2nd tier of the Nigerian Stock Exchange (NSE). Yes, he beat everyone to it and his company became the first indigenously promoted company to be quoted on the NSE. He became the President of the Indigenous Quoted Group (indigenous companies quoted on the NSE).

His honourable disposition attracted recognition from various professional constituencies, among his Ekiti kinsmen and appointment to the federal executive cabinet as the political head of Federal Ministry of Health and Social Services. At various times, he was the National President of the Alumni Association of the National Institute for Policy and Strategic Studies, Kuru in 1999-2003; National President of the Nigerian American Chamber of Commerce in 1989 to 1992; National President of the National Council for Population and Environmental Activities in 1994; and the first District Governor of the Rotary International District 9110 (Nigeria) in 1982 to 1983. The distinguished prince is an acknowledged manager, leader, motivator and a role model to many. His vision is global which extends to serving mankind in every way possible. He typifies an excellent symbol of Ekiti values as man of honour and integrity which earns him the respect of his kinsmen. He was elected president of Ekiti Parapo Lagos and was the pioneer Chairman of Igbimo Ure Ekiti. 

Prince Adelusi-Adeluyi was born into a Christian and royal family in Ado-Ekiti on August 22nd, 1940. He started his primary school education at St. George’s Catholic Primary school, Ado Ekiti in 1946 and attended St. Thomas Aquinas College, Akure from 1953 to 1957. Between 1951 and 1961, he attended Nigerian College of Arts, Science and Technology, Ibadan and University of Ife from 1962 to 1965 where he graduated in flying colours among pioneer set members of pharmacy department. In 1967, he attended Language Institute, Noordvijk, Holland and today he has a distinct ability to speak English, French, Dutch, Spanish. among other languages. His desire to acquire more knowledge led him to study law at University of Lagos in 1984 to 1986 and graduated with the best overall student prize at Nigerian Law School in 1987. 

He worked as a teacher at St. Michael's Catholic Modern School, Yemetu, Ibadan in 1958 to 1960. He was a broadcaster at Western Nigeria Broadcasting Service/WNTV, Ibadan in 1960 to 1962. He was an Assistant General Manager of Pfizer Limited, Ikeja in 1968 to 1970 and Managing Director of Handelschiff Pharmacies, the manufacturer of Vitamalt drinks. In 1972, established Juli Pharmacy Limited. 

As a charming prince and tested professional with a promising future in the horizon, he got married to his pretty heartthrob, Olori Juliana Omosalewa. They are a delightful couple to behold when they step out together for functions, a devoted family man to the core. The matrimony is blessed with productive children that have done the family proud - Julita, Julian, Julienne and Julius. 

His involvement with various professional bodies over the years is not surprising because right from his school days he demonstrated leadership qualities. In his university days he served as the Secretary General of the International Students Conference (COSEC) in 1966 to 1968 in Leiden, Holland; it was the coordinating secretariat for the university students organizations all over the world. He has traveled to 142 countries, carrying out university students, and youth leadership and other programmes. He has over 40 published articles and lectures that cover a wide range of subjects that include health and pharmacy, law, voluntary organisations and university environment and education matters. 

In 1990, he attended the National Institute for Policy and Strategic Studies, Kuru, Jos. As far back as 2002, he was honoured with the national award of the Officer of the Federal Republic OFR and Member of the Federal Republic, MFR in 1986. He is a Fellow of the following professional bodies: Pharmaceutical Society of Nigeria; Nigerian Institute of Management; Institute of Directors, London; and West African Pharmaceutical Post Graduate College. As someone who has done well in his professional calling, in integrated services to the community and in his various constituencies, he received a number of remarkable awards: Centenary Award, Lagos Chamber of Commerce; Leadership Award, Nigerian Industrial Group of NACCIMA; Excellence Award, Nigerian – American Chambers of Commerce in 1909; Rotary Service Above Self Award from Rotary International; and Purposeful Leadership Award, Federal Ministry of Health. 

He served as the Chairman of Parish Pastoral Council at St. Leo’s Catholic Parish, Ikeja in 1989 to 1993; the National President, Pharmaceutical Society of Nigeria in 1989 to 1991; Member of the Governing Council, Nigerian Institute of International Affairs in 1984 to 1989; Vice President- Nigerian Institute of Management in 1983 to 1985; Vice Chairman, Pharmacist Board of Nigeria in 1988 to 1991; First Secretary General of West African Pharmaceutical Federation; National Secretary of the Pharmaceutical Society of Nigeria; Member of the Governing Council, Ondo State University, Ado Ekiti (now Ekiti State University); Member National Namibia Solidarity Fund Committee in 1988; Board Member of PPMC/NNPC in 1995 to 1998; Member of the Governing Council of the National Council for Inter-governmental Relations in 1996; Board member of the Nigerian Conservation Foundation; Member of the Board of Governors, College of Medicine, University of Ibadan in 1995 to 1998; Member of the Board of Odua Investment Limited in 2002 to 2003; Member, Board of Trustees of Dideolu Specialist Hospital, Ikenne; Chairman, Public Affairs and Ethics Committee of the Lagos Chambers of Commerce and Industries; Member of MTN Foundation Board; Member of the Board of Advisors of American Biographical Institute and the Patron Ekiti Parapo Lagos. 

Prince Adelusi-Adeluyi is member of many clubs and associations that include: Metropolitan Club since 1969: Rotary Club of Ikeja; Ikeja Golf Club, Ikoyi Club, Lagos; White Elephant Club, London; Commonwealth Club, London; Lagos Country Club, Ikeja; Island Club, Lagos; Vista Club International, New York; and Six Continents Club, U.S.A. For fifteen years, he was the Chairman of the Ikeja Chapter of Boy’s Scout of Nigeria; council member of the Federation of West Africa Chamber of Commerce for 3 years; Chairman, International University Exchange Fund for African youths fleeing their countries as refugees; member of the United Nations Association of Nigeria in 1968 to 1974; member of the Nigeria Association for Public Administration and Management; member of the Nigeria Bar Association; and member of International Bar Association. 

No doubt, Prince Julius Adelusi-Adeluyi is a well-rounded quintessential statesman. I was privileged to meet him in Lagos in the course of my involvement with socio-political activities geared towards the progress of Ekiti-State. He is one of the best Ekiti elites abroad that always lookout for fellow kinsmen that are doing well and encourage them as much as possible. I admire his sincerity and like him a lot because not many distinguished kinsmen call me to ask after me and family. When Ekitipanupo Forum initiative came, he joined us at the online interactive platform. He was the Chairman of the first Ekitipanupo Public Lecture held in Ado-Ekiti in 2007 and a special guest at the first Ekitipanupo Colloquium held in Lagos in 2016. When the idea of Igbimo Ure Ekiti evolved, he called me and gave me an assignment on the initiative. This afforded me the opportunity to be part of the pioneer efforts on the flotation of the group made up of Ekiti indigenes of repute. 

Whenever he hears, knows or reads about good news concerning me, he would call to commend me. On July 21st 2020, my natal day anniversary, I was too happy to speak with him and madam, his beloved wife. I am always delighted speaking to him because he has a unique voice and distinct way of making one happy. Ekiti ti yun ju l’erun aba Juli – He speaks Ekiti dialect very well and to the delight of his kinsmen. Some of his signature words in Ekiti dialect are “so ri iyan i je? Oya re ayiye ni si ko? The icing of the cake when he is in his elements is when he speaks in the language of our aborigine masquerade: A yan gigun – Oriririririri. It gives me great joy to celebrate him as an octogenarian. 

Odundun, a s’ode d’ero
Omo owa, omo ekun
Ado na ti a j’Ewi

Omo agbe d’ojumose
Agbe gun gbogboro
Ado i yun le oni k’obe osunu mo nu

A ye in k’ale abaluka 
Ajinde ora a a je o
In mo s’oro un aba Juli o, eeeeeee!!!

I wish you more years in your service to the nation, Ekiti and various other constituencies sir, in good health with peace of mind.

Osibo

THE GENTLE GIANT AND A REMARKABLE ACHIEVER: ADEBAYO OSIBO 

By

Seye Adetunmbi

By nature, some people are generally calm, gentle and not given to publicity, yet, their accomplishments are worthy of acknowledgment and celebration in the public domain. Relatively, this kind of people would rather let their achievements speak for them because by inclination, they are humble, easy-going and naturally disposed to modesty in going about their affairs. One of the distinguished Nigerians in this category is Chief Adebayo Olanrewaju Osibo. By contemporary standard, he has done so well for himself having excelled in his chosen career. Yes, he made his mark in the manufacturing concern, asserted his acumen in the business environment, made his presence felt in his community, paid his dues as an asset in the Anglican communion through his numerous resources committed to integrated God’s work and to the glory of God, he stands out among his peers. Apparently, his achievements are manifestations of hard work and commitment to excellence by a focused man over the years.

Chief Bayo Osibo started his working career with Lever Brothers of Nigeria PLC, now Unilever PLC in 1979 as Senior Field Manager and later became the Commercial Manager of Nigerian Textile Mills Limited between 1982 and 1984. Thereafter, he joined West African Portland Cement Company as the National Sales Manager of its subsidiary, Portland Paints and Products Nigeria Limited. Through dint of hard work, he became the General Manager/Chief Executive Officer of the Company in 1990. In 2004, he led a team of managers to acquire the company in a Management-Buy-Out (MBO) and the Managing Director/Chief Executive Officer. This was a feat because there were very cases of MBO in the real sector of the Nigerian economy at that period of time. Under his management, the company diversified into many other related activities, and acquired value-adding franchises of notable foreign companies. The company also became quoted on the Nigerian Stock Exchange in 2009, yet another feat.

Chief Bayo Osibo standing 3rd from left with fellow Form 1 students of Christ's School in 1965

 He distinguished himself as a great manager of resources, this among other reasons earned him election as the Chairman of the Paint Manufacturers Association in 1993 and served till 2003. During this period, he established the Institute of Paint Technology at Yaba College of Technology, Lagos for the training of technical manpower for the paint industry. His wealth of experience and diligence in outstanding service to paint manufacturing industry, earned him an appointed as the Chairman of the Working Committee on Manufacturing of the Nigerian Content Consultative Forum in 2005. He also served as the Chairman of the Chemical and Pharmaceutical sub-sector of the Manufacturers Association of Nigeria, (MAN) and a member of the National Council of MAN. 

    No doubt, the pedigree of Chief Osibo influenced his choices and laudable activities in life. He was born on Tuesday 23rd September, 1952 to the devout Christian family of Chief Theophilus Babasanya Osibo and Princess Sarah Banjoko Osibo. His mother was a granddaughter of the first Alake and Paramount Ruler of Egbaland, Okukenu I. No wonder, the royal blood in him reflected in his carriage and elegant personality. 

    He started his primary school education at Government Demonstration School, Surulere in 1958. He is a product of Christ’s School, Ado-Ekiti, which he attended between 1965 and 1969 and his school number is 65/075. He also attended Igbobi College, Yaba for his Higher School Certificate course in 1970-1971 before proceeding to the University of Ibadan for a bachelor’s degree in Biochemistry and graduated in 1976. He later obtained master’s degree from University of Lagos in 1978 and he is a product of the prestigious Lagos Business School.

An accomplished manager who is a member of the British Institute of Management, the Nigerian Institute of Management, the Institute of Directors, and a Fellow of the Nigerian Institute of Marketing. He is on the board of Portland Construction Limited, The Design Centre and Square One Group of Companies as the Chairman. He also served as the vice-chairman of the Governing Council of Graceland Polytechnic, Offa.

Chief A. O. Osibo is a well-rounded gentleman. He is happily married to Mrs Bamidele Osibo, and blessed with four children that are doing his family proud. Coming from a family with a strong Christian background, his commitment to active service in the church is a natural part of him. He served as a chorister in the choir of Bishop Adelakun Howells Memorial Church in Surulere, where his mother was an active parishioner. The contributions of Osibo family to the development of Christianity in general and the Anglican Communion in particular are legendary. He continued the family heritage of giving by establishing a 120-capacity chapel in honour of his mother, the “Sarah Chapel of Praise” where a permanent pastor conducts praise worship services three times in a week. His contribution to the development of St. David’s Anglican Church, Ofada in Ogun-State had been very significant and this earned him the eminent chieftaincy title of the Baba Ijo of the parish.

Chief Bayo Osibo is a highly prized alumnus of Christ’s School because of his huge commitment to the restoration project of his alma mater. He was elected the Chairman of the Lagos Chapter of Christ’s School Alumni Association. He is a member of the Metropolitan Club, Yoruba Tennis Club, and Ikeja Golf Club. He worships at the Archbishop Vining Memorial Church Cathedral, where he is President of Charity Band and Treasurer of the Christian Friends Society.

Shenbanjo

Book Review

FINANCIAL INTERMEDIATION OPERATIONS AND PRACTICE 

A Guidebook for Financial Market Operators and Practitioners

Author: Seye Adetunmbi

Book Reviewer: Tayo Shenbanjo

Financial Intermediation Operations and Practice is a useful compendium for financial operators, capital market professionals, and university students. The book will also serve investors, portfolio managers, college professors, and government functionaries in the pursuit of financial knowledge and understanding.

The author, Chief Seye Adetunmbi, who has been a practitioner in the finance and the capital market arena in the last thirty years, has brought a comprehensive experience to bear on shedding additional light and giving historical perspectives of the development of the Nigerian financial system, from inception in the fifties and sixties to where we are in the twenty-first century. Seye went back into the antecedents of the institutions that have transmuted into the big banks, discount houses, brokerage houses and other players that we have today. He delved into research work on the institutions and players that birthed the modern-day Nigerian financial system.

The book is divided into six comprehensive sections, which include the financial market evolution and structure, market operations and practice, strategies and best practices, financial market derivatives and players, seminar papers, published articles and research on the financial markets and the Capital Market Roundtable (CMR). There are altogether twenty chapters in the book which cover diverse topics such as the history of the Nigerian financial system, evolution and growth of development and financial institutions, the establishment and growth of regulatory agencies, the key players in the financial and capital market industry, the indigenization and privatization exercises, guidelines on best practices for the industry and the changing environment in the twenty-first century.

Seye took the pains and diligence to go deeper into the growth of the Nigerian financial and capital markets in the early chapters of the book, identifying the constraints faced by the young Nigerian-nation soon after independence. He also identified the efforts made to establish the solid fabric of what we have today. Readers will once again recollect how key institutions like the Central Bank of Nigeria, The Nigerian Stock Exchange, The Securities and Exchange Commission, The Nigerian Industrial Development Bank and many other institutions came into existence. The author further did a beautiful research on how far the industry has come from infancy into what we are all proud of today. There are charts and other graphic depictions of historical matters and development which students in higher institutions will find very useful as they continue with advanced academic pursuits.

Seye devoted chapters twelve to nineteen to some of his past seminal speeches and presentations dealing with matters that affected our industry then, and maybe still do today. The presentations which cover diverse subject matters like securities merging trading, pension reform, mergers and acquisition and many more clearly depict his dynamic thought-leadership acumen. It is good that from those intellectual submissions, we can glean a piece of the author’s depth and his passion for excellence even at a younger age.

Another interesting portion in the book is chapter twenty, where the author wrote copiously about the Capital Market Roundtable (CMR), an intellectual think-tank arena, convened in August 2008 made up of diverse players in the Financial and Capital Market industry. This on-line roundtable was created by the author, Seye Adetunmbi, with the aim of allowing members to share ideas and conduct intellectual discussions on diverse subject-matters. Since 2008, when it was founded, the CMR has grown from strength to strength in membership and innovative ideas with many of the original participants now occupying executive corner-suites in their chosen endeavors and contributing their quotas to developing talents in the country. For full disclosure, I was one of the original signatories to the CMR charter thereby becoming a pioneer-member of the think-tank.

In summary, I will like to recommend this book to anyone who wishes to learn more about the Nigerian financial system and the evolution of institutions like banks, insurance companies, brokerage firms, asset and portfolio managers and so on. For investors who wish to know how to calculate the value of money and other concepts or learn other topics, like the growth of assets, discounting models and methodologies, the important theory of the time value of other instruments and the determination of yields, this book will help enhance your understanding of this and many other concepts. The book is also good for scholars who wish to do more research and pursue specializations in the academic arena. Seye Adetunmbi, the author, can still carve out many other financial topics for future research and writing, as he delved into so many subject-areas, some of which were not pursued vigorously, due to time and space.

All in all, this is a beautiful exercise in trying to mesh a lot of topics together in one book. As a prolific author of other subject matters, one can only hope that he will do a follow-up with another good book in not too distant future.

‘Tayo Shenbanjo MBA CLU CLTC, the reviewer, is a licensed financial advisor and a compliance practitioner based in the United States.

 

Financial Intermediation

INFORMATION AND KNOWLEDGE ARE STRATEGIC TO 
MARKET DEVELOPMENT AND GROWTH 
By, Seye Adetunmbi 
Being remarks at the public presentation of his book on Financial Intermediation and Practice on 21/7/20

While appreciating everyone who joined us at the virtual presentation of my book titled, Financial Intermediation: Operations and Practice – A Guidebook for Financial Market Operators and Practitioners, let me formally acknowledge all the dignitaries that honored my humble invitation and everyone who made this remarkable event a reality to the glory of God. I like the company of people of good character and integrity, this explains the basis of all the distinguished people I contacted on the zoom presentation. I appreciate your esteemed presence.

I hereby formally express my gratitude to the Chairman of the zoom presentation, Dr AlimiAbdul-Razaq, my very good egbon. I have come a long way with the Abdul-Razaq family of Ilorin. Virtual presentation was not on my radar after getting the financial intermediation guidebook published on Amazon. It was his immediate reaction to the extract of the foreword written by Mr Atedo Peterside that resulted to my hosting the zoom presentation of the book to the public. He wrote on June 24, 2020 and I quote: “Congratulations Seye. I cannot wait to order a copy on Amazon. Going by Atedo’s recommendation and your professional pedigree I’m confident it will broaden our knowledge of the capital market. Quite a shame we can’t have it presented formally to an audience with fanfare, due to COVID19. But you should consider a Zoom presentation! Well done!! - Dr Alimi Abdul-Razaq” There we are today! The event was put together in one month with 1000 copies of the book printed because Amazon was yet to start shipping to Nigeria. Thanks for accepting to be the Chairman of this august event.

I must acknowledge oga Atedo Peterside, the investment banking guru that I admire a lot. Thanks for marking my manuscript and for the reassuring foreword to the book sir. I am too delighted to have you and my oga, Sir Uduimo Justus Itsueli as the Special Guests of Honor of this epoch virtual presentation of book in my professional calling. Dr Itsueli is our pride in Nigeria and the very distinguished President of Christ’s Alumni Association. After oga Yemi Akeju practically made me as his P.A. on Christ’s School alumni matters, oga Itsueli has always been there for me. Thanks for accepting to be a Chief Guest of Honour sir.

Chief Dele Fajemirokun has always been an inspiration to me right from when I met him at Anglican Church of the Ascension, Opebi where I have been worshiping since 1990. He made his mark as a distinguished entrepreneur and today is a major stakeholder in the Nigerian stock market with one of his foremost companies AIICO PLC, quoted in the insurance sector. I couldn’t think of a better person to be the Chief Presenter of the book to the public. Egin, Odidimade, thank you sir.

Thanks to the distinguished Senator Ibikunle Amosun, Committee on Capital Market for being a Lead Presenter of the book to the public. He sits next to my brother in the hallowed chamber at the upper house of the National Assembly in Abuja. Likewise, my friends, the Deputy Governor of Kwara and Osun States, Messrs Kayode Alabi and Gboyega Alabi, thanks for associating with the book presentation as Lead Presenters while appreciating the moral support of Governor Rahman Abdul-Razaq and Governor Gboyega Oyetola.

How can I present a strategic book on the financial market to the public without the headmaster of capital market in attendance? Alhaji Lamido Yuguda, the Director-General of the Securities and Exchange Commission, thanks for honoring my invitation as a special guest. Likewise, the distinguished technocrat and Oxford scholar, Ms Arunmah Oteh and other former D-Gs of SEC who graced the zoom presentation, I appreciate you all. Ms Yewande Sadiku, the Director-General of Nigerian Investment Promotion Commission, thanks for honoring my invitation as a special guest. By extension, I appreciate your coming, Oscar Onyema, the CEO of Nigerian Stock Exchange and for your concise commentary on the book. I have always admired the brilliance of Bola Ajomale, the Managing Director of NASD PLC, this is why I am delighted that he reviewed the book and did justice to it clinically and professionally too. Likewise, Tayo Shenbanjo who did the initial review from USA, thanks my beloved professional colleagues, in whom I am very pleased.

When I joined the capital market in 1990, I saw the need for a guidebook for operators and practitioners and started taking notes. Had it been that the book was published when it was ready in 1994, a section of it would have been analog based and it would have been necessary to review it now. The debut of the book now, has made the book to be digital era compliant and loaded with additional contemporary financial market and economic related matters. All that I have to say about the financial market are in the book including my tour of the sector on a professional note. Let me reiterate here the essence of this book with relation to facts, information and knowledge which are key to market development and growth. Information is a significant ingredient of a perfect market. Information drives the market, it engenders efficiency and a competitive market. Knowledge also aids efficiency and facilitates professionalism. For instance, when an issuer or client is adequately informed about the workings of the market, it makes service delivery timely and mutually beneficial to all parties concerned.

I must also acknowledge members of the Capital Market Roundtable in Nigeria. I develop myself by associating with people who are better than me so that I can learn from them. Thanks for believing when I approached you the distinguished professionals and senior colleagues to join the forum. I have been privileged to work with some brilliant senior colleagues whose wealth of experience rubbed on me, High Chief Luyi Rotimi and Mr. S.O. Ibitoye; I learned a lot from them within a short space of time, thank you sirs. Let me use this opportunity to recognise my very brilliant friend, Abi Adigun an expatriate with ExxonMobil, he was instrumental to my consultancy assignment with Databank Zambia in 1994 during which I organized a national workshop on IPO (Initial Public Offering). Abi and his wife (Vivien) joined us for the zoom presentation from Houston, Texas. Also my friend, Chanda Chileshe and his wife (Tanya) joined us during the zoom 

presentation from Zambia.

    I am wearing two caps as the author and the publisher of the book. Mindscope Africa as a publisher is getting better with each publication as evident in the latest book. We will continue to improve in necessary quarters in response to feedbacks towards raising the bar in the publishing business while counting on patronage from everyone.

My sincere appreciation goes to my Lord Bishop in Ekiti-Oke Anglican Diocese, Rt. Rev. Isaac Olatunde Olubowale for the episcopal blessing on the book launch and Baba, the Venerable Archdeacon L.L. Eso, one of my mentors who always associates with whatever concerns me. I wish to mention Chief Biodun Shobanjo, Dr Ayo Ajayi, Otunba Akin Osiyemi, oga Macaulay Iyayi, Chief Kole Lanlehin, oga Oluwole Komolafe, Baba-Ijo Segun Ogunkua, oga Banji Ogungbeni, Mrs Folusho Olaniyan, Professor Dupe Adelabu, Ambassador Eniola Ajayi, Bode Ojo, Ropo Dada, Dr Bola Malomo, Mrs Moni Alade, Princess Moradeke Ajibade, egbon Ayan Kolawole, Yinka Sanni, Tunde Amolegbe, Duro Omogbenigun, Mallam Isiaka Abdul-Razaq, Yinka Adekunle, egbon Femi Adefope, Venerable Adewole, Bolade Oyebolu, Charles Iyore, Niyi Laosebikan, Victor Odunsi, Biodun Oyemade, Mrs Yewande Taylor, Tolu Olugbamila, Sola Akeredolu, Mrs Nike Iyoha  and many others who graced the virtual presentation of the book. In the same vein, I acknowledge all the various constituencies in which I have been active over the years. You are part of my DNA.

    To my wife (Olabowale), children (Oluwabunkunmi, Oluwadara, Oluwasemilore and Mobowofoluwa) and other family members, your immeasurable support is appreciated. Thanks to my older brother, Senator Olubunmi Adetunmbi for his remarkable support on this project. Thank you all for the rare honor you have done me, God will honor you many folds and may the grace of God be sufficient for us all.