Friday, 9 August 2024

Leadership in Perspective by Seye Adetunmbi

HOW AND WHEN DID NIGERIA GET HERE: THE WAY FORWARD
By, Seye Adetunmbi 


It is understandable if one claims to be getting weary of writing✍️about Nigeria and her peculiar mess (penkelemesi). This is because for over three decades I have written so many articles and even got books published in which issues on Nigeria were addressed, highlighting suggested solutions and plausible way forward. However, the recent protest across the nation calling for the end of bad government in Nigeria,  generated a debate in Ekitipanupo Forum. I was not going to comment because it would amount to repeating oneself on the same issues, over and over again as far as I am concerened. As a matter of fact, it was this statement of Dr Dokun Adedeji that finally drew me out. I quote his apt comment thus: "...The saddest part of our deceit and hypocrisy is that if elections are held today, these same crowd of political vultures and carpetbaggers, will return in triumph" Oga Dokun, the Doksie, of Christ’s School fame, in his characteristics manner  has said it as it is, again!
How did we get here? Come with me good people of Nigeria as I share my perspective under the above caption.
Chief Obafemi Awolowo 
The era when it was possible to attract or get credible people of integrity elected to office had been thinning out over the past years. It is getting worse with successive warped democratic dispensation in Nigeria. During our best period of credible political leadership in the past e.g. the AG and UPN years, the political parties then were structured and well thought out with the fundamentals in place for a sustainable good government through cardinal programmes that were clinically adhered to under the watch of honourable leaders of integrity. More importantly, the political parties were strategically and tactically funded collectively to give every member a sense of belonging and a considerable level playing field such that it was difficult for anyone or a small clique of hawks to hijack the political party structure. There were instances that Baba Awo wished or would have preferred a candidate, but when party members prevailed, the late sage let go.
Also, cardinal programmes of the political party were put together to truly serve the larger interest of the poor masses with a deliberate plan for the future in the horizon. This is evident in the vision behind Oodua Investment, Northern Nigeria Development Investment Corporation etc.
Awo, Zik and Sadauna
What ensured continuity of a political party in a state or region then were essentially the party manifestos from which the masses have benefited over the years, coupled with entrenched trust in their political leaders. You don't need to bribe anyone, jeunsoke, d'ibo ko se 'be etc before people file out to vote the party or person of their choice at the general elections. Most of the people who were elected to key offices were credible and desirous of serving larger interest, first, any other thing is secondary. You didn't not have to be a money bag or anyone's stooge or be a fellow that will be a tool to corner the state resources before you win the party nomination to fly its flag.
What obtains today is a different ball game. Reverse is the case. Me first, the masses that the political power belongs to is the last! The political party in government these days are mere power capturing platforms controlled by a small group feeding fat on the system. These few self--serving political party chieftains decide who get what and not what is in the best interest of the masses they are expected to serve. The motives are not driven by values and integrity. The political party is funded through government-magic, engineered by the mafia dons and their cronies in the system with the funding of the next election in the consciousness of the incumbents. It is not about the well executed plausible projects to earn them votes. It is about stolen funds set aside to dole out during elections to the impoverished voters.
The political era when "eye ke bi eye, eku ke bi eku" political leadership evolved primarily to truly represent their kisnmen and top civil servants were quitessential technocrats and not contractors that corner big government contracts through cronies
When those who are to plan and execute good and enduring policies for the benefits of the governed are living large on a warped system, the tendency for the status quo to stand becomes inevitable. There we are now in Nigeria. A hugely monitised electoral system/election process would always make it difficult for those who may truly want to get things done properly have access to office where they can influence positive changes. Governors embark on big projects these days not primarily for the benefit of the people or in adherence to a development plan to be followed by sucessive governments, but to meet the financial needs of their sponsors with the next election in view regarding funding.
This is why if election is held today as Doksie wrote, it is the same set of people and their allies that will emerge. It is the reality of our situation in Nigeria if nothing is done about the status quo. Majority of the people in politics and government today are not there to serve the interest of any race or the people but themselves. Because they consider themselves lucky and a time bound opportunity to be "employed" by a system they can manipulate to corner wealth for their personal advantage.
In all, consistent good leadership is fundamental for an enduring progressive nation. I cannot but agree with this comment of alagba Omowumi in Atokeibeirosi Forum on 7/8/24: "The development that Nigeria has had in real time was that which took place between 1952 and 1966. In real time in the sense that there were not so much resources as we have had since 1966, but plenty of good management of resources. The resources since 1966 were largely stolen into private pockets."
L-R: Dr Ambrose Ali, Pa Ajasin, Baba Awo, Chief Onabanjo, Alhaji Jakande & Chief Ige
Just compare the values, character and the profiles of the visionary leaders we had in the past with the pack of light-finger, illbred and greedy politicians of today! All you need to do is to compare their assets base before going to politics or having access to government's treasury and what they have amassed in office and how they live thereafter.
What's the way out? Perhaps the type of the recent public protest will send strong signal to those setting us back to let go in earnest. A persistent organised protest, a focused structured outcry and systemic rejection of the deceptive ruling class by the poor masses would be the way out. Expecting the rogues in politics and government now to effect change will be tantamount to self deceit, like "eye afin". Yes, the albino's mother that they asked after her child. She said in Ekiti dialect, "i s'omo mi oyinbo" (my caucasian child)!
Nevertheless, the recent spontaneous national protest against bad governement and leadership is a strong warning to the people in government. Consequently, those in government who think or believe that they can take the masses for granted endlessly will be doing so at their own peril. "Nitoripe ko si obo mo ni Nijiria" - No fool (monkey) anymore in Nigeria. Anyone who thinks he/she can "p'aja l'obo" (call monkey dog) for Nigerians, you are on the path to perdition and your waterloo. The fact that you have your way to find yourself in government anyhow, notwithstanding!
"Ti o ba le ewure kan ogiri, a bu e je" If you pursue a goat 🐐 to a wall/dead end, it will turn back and bite! "Abo oro la nso fun omoluabi, ti o be de inu e, a di odidi" (A phrase is adequate for the wise...) The worst disease is shamelessness. The Yoruba people call it "alainitiju olori arun". When you don't know when to stop ripping off the people. When you feed too fat on the poor masses without restraint and decorum, it comes with consequences. 
Societies and nations that govern well still have issues not to talk of a pack of people in government Nigeira that treat their people with reckless abandon and expect things to be at peace with them and their cronies! Mbanu, o ti o! We either do things right or face the repercussion of insensitivity to fellow stakeholders of a commonwealth that belong to everyone, all of us. Let good consciense and proper reasoning prevail.
Certainly, a new system must evolve that will make seeking government appointment or pursue election to a government position unattractive to those who want to feed fat at the expense of the poor masses. How to effect the desired paradigm shift has to be in the front burner. Any thing short of this takes Nigeria back to square one.

Tuesday, 6 August 2024

Yemi Akeju

AN ODE TO SAMUEL YEMI AKEJU AT 70
The Quintessential Public Relations Guru and an Entrepreneur of Repute
By, Seye Adetunmbi

Apart from being one of the distinguished Nigerians I wrote about in the corpus, titled Abridged Biographies and Integrated Panegyrics, I could not think of yet another good time to further celebrate oga Yemi than when he joined the septuagenarian club on Saturday August 3, 2024. Most people who are committed to excellence and passionate about their vocation always turn out well and make their mark on the sands of time. One of such distinguished Nigerians is the amiable ojogbon Samuel Akinyemi Akeju, the Chairman/Chief Executive Officer of Interprods and the Chairman of Ideas Communications Limited. He is one person who puts in his best to every honourable venture he gets involved with and today he has recorded many successes in virtually all the activities he got involved with, be it in the business world or the in multi-dimensional social responsibility and charity projects in Nigeria over the years. 
Teenager SYA at Christ's School, Ado-Ekiti in the late 1960s
Samuel Yemi Akeju (SYA) is a native of Ijare in Ondo-State of Nigeria and was born on August 3rd in 1954. He attended the famous Christ’s School, Ado-Ekiti between 1968 and 1972 and 68/017 is his school number. Thereafter, he studied Marketing and Air Transport Management at the Chartered Institute of Transport and Logistics in the UK in 1976 to qualify as an industry professional.  He was engaged and converted as a Commercial Management Trainee by the Nigeria Airways in 1977 and successfully undertook a three-year Advanced course in Commercial Airline Management under the auspices of the IATA, KLM and Nigerian Airways.  He was commissioned an Airline Manager in 1980. He served Nigeria Airways variously in Nigeria and overseas and voluntarily retired from the Airline as a Senior Commercial Specialist for Global Flight Operations in 1986. He is a qualified Member the Chartered Institute of Transport and Logistics (MCIT). He was elected a member of British Institute of Management (MBIM), Fellow Nigerian Institute of Management (FNIM), amongst other professional institutions. He attended several Management and executive courses on Management, Finance, Accounting, banking payment systems and solutions, currency and security printing at various Institutions, including the Lagos Business School (LBS) Nigeria, Harvard Business School (HBS) USA, Currency systems International USA, Institute of Directors UK and Nigeria and other reputable Institutions across the world.
SYA at a memorable-encounters with elder statesmen, Nelson Mandela and Chief Segun Obasanjo
Subsequent to leaving the national airline as the public relations officer, he established Ideas Communications Limited, an IMC agency and Interprods Limited years later. Over the years he has demonstrated exemptional tested skills in marketing communications, business strategy, project management, new business development, and strategic planning. He is a consummated consultant on banking payment services and integrated transaction solutions to the banking industry in Nigeria and Africa with transformation key projects for most major banks In Nigeria including the Central bank of Nigeria. He served variously as a director and chairman of key companies in the banking, finance, media, logistics and hospitality industries, including First Grant Nigeria Limited a venture capital and investments company, IoD Centre for Corporate Governance and Millennium Harvest Limited, the publishers of Financial Standard newspaper.
SYA at his alma mater, Christ’s School, Ado-Ekiti during presentation of books to the students that were donated by the Lagos Chapter of the alumni body in 2013
Another remarkable disposition of SYA is his commendable activities among charity organisations. He is a distinguished Rotarian and a Paul Harris Fellow (PHF) of the Rotary International foundation. He has been a charter member of the resourceful Rotary Club of Ogba in Ikeja since 1983, served as the President in 1994 to 1995 and as the Assistant Governor from 1999 to 2002 for Rotary International District 9110 Nigeria. As far back as 1983, he has served as the patron and the counsellor of several prominent youth organisations in Nigeria’s tertiary institutions and communities across the nation. Anthony Segun Adebo attested to his resourcefulness in the aspect of his extensive youth development activities in the 1980s and 1990s which include: Mentoring/Sponsorship via KLM Unilag Jaycees  attending their 1st World Congress, Montreal, Canada in 1984; Mentoring/ Establishment Rotaract Club of Ogba, Secretariat at your residence; Ogba Rotaract Club European Tours; and Sponsorship of Ogba Rotaract Club to attend NIPSS, Badagry. "It was a tremendous selfless moral, financial, leadership engagement from him to the betterment of Nigerian youth some of whom are now in their 50s and 60s living successful and productive lives home and abroad. It is indeed an ‘Ode to a nightingale’ Samuel Akinyemi Akeju aka Uncle Yemi." Adebo wrote.
SYA with President Bola Ahmed Tinubu and Dr Haroun Al-rashid Adamu during the 2015 NMMA annual event
Yemi Akeju (3rd from right) with other chieftains of NMMA promoters on courtesy visit to Governor Sanwo-Olu in 2022
SYA 2nd from right during the 2022 NMMA Event on 206/11/2022 in Lagos
Towards fostering media excellence in partnership with the society, the inspiration came for him to work hard on the need to establish a platform for the Nigeria Media Merit Award (NMMA) in 1990. He is a life member of the Board of Trustees of the Nigeria Media Merit Award Trust, the Nigeria and Africa’s foremost media excellence institution. On July 11, 1992, the maiden NMMA event was held at the Banquet Hall of Eko Hotel. It was an evening of excellence. The 29th anniversary of NMMA was hosted by Kogi-State Government on Saturday 30th of October, 2021 in Lokoja. It was an outstanding outing, kudos to the team of ojogbon Yemi Akeju, the Trustee and the Chief Administrator of NMMA. 
SYA 3rd from left with NMMA chieftains with President Buhari
SYA was elected the 14th President/Chairman of the Governing Council of Nigeria Institute of Directors (IoD) in June 2015. Prior to his election, he served excellently as the 2nd and 1st vice-president for four years and as chairman of various committees for over ten years. His tenure recorded many successes in the excellent organisation on their various statutory programmes and periodic events. Under his leadership, federal government partnered with the Institute of Directors Nigeria on the development of entrepreneurship culture and commercial orientation in the Nigerian Federal Civil Service. One of such was the “Strategic Public Sector Leadership Programme” held for federal permanent secretaries, organized by IoD in 2017. The focus of IoD is centred on ways of institutionalising and enforcing the tenets of sound corporate governance in Nigerian business environment.
SYA 4th from left when Babatunde Raji Fashola was hosted in 2015  
SYA presented a Distinguished Personality Award of IoD to Mrs Olakunrin in 2021
SYA anchored presentation of Distinguished Personality Award of IoD to Apostle Hayford Alileality Award of IoD to Mrs Olakunrin in 2021
Chief Mrs Eniola Fadayomi, Chief Chris Okunowo, SYA, Governor Akeredolu and special guests at the 2017 IoD event 
As a prominent member of Christ’s School Ado-Ekiti Alumni Association, he brought his wealth of experience in the corporate world to bear deployed his integrated goodwill for the benefit of his alma mater. This was where I was privileged to meet oga Yemi Akeju and have been working closely with him since 2010 on various alumni matters and projects. His office premises on Sobo Arobiodu Street in Ikeja GRA is the defacto headquarter of Christ’s School alumni in Lagos.
During a carol service of Christ’s School alumni held at Archbishop Vining Memorial Cathedral Church in2012
SYA during the thanksgiving service for the 80th Anniversary of founding Christ's School held at Archbishop Vining Cathedral, Ikeja, Lagos in 2013
SYA and Seye Adetunmbi at the Distinguished Alumni Lecture, delivered by Prof Niyi Osundare at Nigeria Institute of International Affairs, Victoria-Island in 2016
Members of 1978-80 and 1979-81 HSC sets with Mr & Mrs Yemi Akeju at their maiden reunion  held in his Ikeja GRA premises in 2019
SYA received an Award from the members of 1978-80 and 1979-81 HSC sets of Christ's School, Ado-Ekiti
SYA is a Distinguished Fellow of IoD Nigeria, the highest status for IoD members in Nigeria. Bagging such an exalted title is a well-deserved honour and recognition. He is a member of the Lagos Business School Alumni and the Chief Executive Programme 9, the esteemed Millennium Class of LBS. He also served on the boards of few federal government agencies including the Federal Endowment Fund for Arts and Culture, the consultants to the Commonwealth Business Council, African Union committees etc.  To the glory of God SYA is happily married with Children.
He has been such an inspiration in honourable ways - remarkable generosity, selfless service and mentoring. I am particularly grateful to him with the way and manner he looks out for my progress and supports me at every opportunity on all my endeavours. There is no way I could have written about people in my compendium of honourable people and my mentor and a remarkable family man won’t feature. I wish him, his amiable wife and children long life in good health while praying that the grace of God shall continue to be sufficient for his lovely family in Jesus Christ’s name, amen.

Oga Yemi of Christ's School fame, happy 70th birthday to you sir.
U a gbo, u a to; u a mo o pau l'ori pepepe
U a m'eriki j'obi
Ori i f'ota
Ojojo e i s'ugbin
Ora re a le k'äle l'ase Edumare
Amin 

Remain highly blessed and favoured, sir
1


Thursday, 25 July 2024

Adefolaju

REMEMBERING CHIEF ALONGE JOSEPH ADEFOLAJU (Circa1890-1961)
The Elegemo of Ire-Ekiti
By, Seye Adetunmbi

As my friend, Femi Adefolaju was telling me about his beloved father, I got so interested that it became impossible for me to resist the urge to write about the distinguished Ekiti man and get it published in my blog. Naturally, I asked for as many available information as possible about Baba, High Chief Alonge Joseph Adefolaju and review for special publication here. I first heard the name of the great man by virtue of one of his sons, Mr Albert Yinka Adefolaju who lived in my father's house with his family at Ifaki-Ekiti in the early 1980s. Subsequently, Femi and I met and got along very well, as our friendship continues to blossom stronger as a going concern to the glory of God. High Chief Alonge Adefolaju was among those very few Ekiti indigenes who made the difference in their community through plausible initiatives, commitment to progressive community service, and inimitable integrity. He was among the early Christians in Ire-Ekiti who played prominent role the advent of Catholic mission and its entrenchment in the community. He had no formal western education, yet by virtue of being a successful itinerant trader who interacted with European merchants in Lagos, he developed himself and was able to communicate in English. This made him useful to his community and environs in their relationship with early missionaries and colonial masters in the old Ondo Province. I am pleased to present what Femi, his last born wrote, as well as the written account of Chief Lucas Ogunlade who worked closely with him and that Dr Marcus Abe who claimed to be a beneficiary of his positive influence on his father. He was no doubt a man of affluence and influence by standard of his time
The Letter of to His Dearest Father
My dearest father,
The cold hands of death snatched you away barely before I could call you ‘Baba’, at my tender age of three months. I was forever deprived the opportunity to sit at your feet and learn the tales of our ‘ancestral lineage’ verbatim from you: At ’owuro se omo Oyinbo, Chief Joseph Alonge Adefolaju, The Elegemo of Ire-Ekiti. Everything I ever learnt, knew, discovered and understood about you were basically second-hand information relayed by several people I met as I continued my sojourn in life after your departure. My insatiable quest and passion to gain insight into your life and times, became a debt I owe you, thus evolved from the yearn for sense of paternal association and belonging, because one of the most important facets of personal identity is our knowledge and understanding of our parents and our relationship with them.
    My first role model, my first super star and my hero, in your likeness and character I grew…Yes! That’s you, my father, omo Elegemo odinyan. From the lips and mouths of many, I was fed with tales of who you were: your significant birth, your heroic life and your triumphant death, especially your birth story which has left me in awe of you. As told by your aunties, Iya Famoluse and Iya Legbe: Exactly seven days prior to your grand entrance into the world, it had been raining cats and dogs. A very cloudy, stormy and rainy month, which brought along disruptions to the daily life activities of Ire-Ekiti people. What a horrible weather condition and harvest of the locust for the past seven days! Farmers were hesitant to go to their farms, market women were reluctant to go to the market in pursuit of their daily bread. Noon drew nigh; heaven was yet to cease the torrential downpour of the rain. The poor villagers were frustrated and disillusioned, thus, gave up on their daily activities. It was this wet weather that ushered in your birth as a great man. The halt in commercial activities and the floods were enough for the good people of Ire to worry about, hence, only a few came to rejoice at the news of your birth even these few could not stay long. Before the well-wishers could get back to their respective houses, something dramatic and mystical took place; the dull and gloomy weather changed giving way to a bright and sunny day, the sun shone high up in the sky, the birds flew singing melodiously, the children could play once again at the village square and the village as a whole could go about their normal activities. Though a normal delivery, Chief Adefolaju’s birth came at an unconventional time and manner. What a significant birth! It turned a dull, gloomy and stormy day into a gay, bright and beautiful morning. In the same vein, your life gave impacts to many other lives causing a revolutionary change of a generation into bright, purposeful and meaningful one! There is a lot to say about this man, in Shakespearean terms, ‘the giant who bestrode the narrow world like a colossal’. I have grown up to be very proud of you my beloved father based on the positive detailed accounts people from all walks of life said and still say about you - A disciplinarian to the core and a man of principles.
From Dr. M. Agbaje, whom I met in New York in 1994, Mr. Lanre Adegbite formerly of News Agency of Nigeria, the Elekole of Egbeoba land, HRM Oba Adetunla Adeleye II, your uncle Chief Akomolafe, the Alawe of Odo, Ire-Ekiti; Mr. Babalola, H.O.D. English Literature Department, Stella Maris College Okitipupa, Ondo-State; Rev. Fr Tom Mallory, now retired in Ireland; Barrister. Jude Okoye of South London, United Kingdom (as a young lad who accompanied Dr Nnamdi Azikwe to our house at Ire-Ekiti in the 1950s; Dr Ajimoko; Chief Olawumi Falodun; Mama Falusi, the wife of your cousin, Canon Falusi; Mallam Idris Soje of Tungan-Goro, Minna, Niger State; Mr. Lucas Odoko Ogunlade your Personal Assistant; Alhaji Rasheed Ibikunle, a taxi driver from Oyo-State, Mr Dairo Ologe from Ilesa; Baba Odejayi; the Onire of Ire-Ekiti, Oba S. A. Adeyeye; Baba Eelebi Pius Awe; Baba Albert Faleto, the Elebi of Akete; your very close Aunties Iya Famoluse and Iya Legbe who both narrated the story of your birth and of course, your lovely wives; Yeye Aladesola Adefolaju, Mama Eleko; Mrs Ige Adefolaju and my mother Chief Mrs. Lucia Oladimeji Adefolaju, (Iya Onigold) the Olori Obinrin of Ilegemo, all of blessed memories. All those listed and many more people that I met wherever I found myself, told me a lot about you.
Baba Adefolaju as you were fondly called, were like Owusu, the legendary Ghanaian community leader who was very kind to the entire members of his community. You were a community leader of repute, philanthropist and benefactor to many people around you. A patriotic Ire indigene, that never lost his sense of patriotism. Your love for your people and selfless nature made you to embark on a heroic journey to Enugu in 1935 in search of a new king for your community, Ire Ekiti. Due to your astute, influence and wealth, you were initially asked to be the king and of course you are a prince too, but you turned it down because you were neither selfish nor over ambitious. You insisted on going to Enugu to bring and install your close friend: late Oba S.A. Adeyeye who reigned from 1935-1996.
Wherever I go, people say I look like you facially and in character. At the tender age of eight years, I vividly remembered the day Onire of Ire-Ekiti, Oba S. A. Adeyeye saw me during Oro Ode and Upo festivals and said I was a carbon copy of Baba Adefolaju. One of my secondary school teachers; Mr. Babalola whose father a member of your staff, who once stayed in our old family house and my interactions with Iya Famoluse, from time to time, also confirmed this. From then on, I knew I had to behave well and achieve greatness in order to represent your good personality to ensure the carrying on of your good name, image and reputation.
My pride of place reached its peak when I learnt that when the Irish missionaries came to Ire through your initiatives and there were no residential apartments, you gladly and readily offered to give part of your houses to accommodate them. Years after your demise, I have met some of those Catholic missionaries in the year 1996 when I travelled to Ireland and one of them, Rev. Fr. Francis Mallory had this to say about you… “Papa Adefolaju was a very kind, enterprising, jovial, good-natured, religious and hardworking man that loved education, the Catholic mission and his Ire-Ekiti community”. Another Rev Fr, Rev Father Manning said this about you, “if you want to engage Baba Adefolaju and capture his attention, make sure you centre your discussions on education, Catholic church and all that would bring progress to Ire-Ekiti”. He went further that you often lamented with regrets how it was too late for you to acquire formal education. Yet, you made sure you sent all your children went to school. Rev. Fr. Mallory confirmed that you encouraged many pupils to go to school and also assisted with the payment of their tuition fees.
In 1985, I represented my club Alpha Club Ire-Ekiti in a meeting in the palace with your bosom friend, the Onire of Ire-Ekiti, Oba Samuel Adeyeye. When he noticed the active role played by me and his first grandson, Segun Adeyeye a member of the same club, Oba Adeyeye said he was happy to see me and encouraged my friendship with Segun. The Kabiyesi said both of you were very close friends and that some people then caused enmity between both of you and became separated. He warned me and Segun not to allow anybody for whatever reason to separate our friendship. He said he regretted that it was after your death that he realized that people with ulterior motives were instrumental to the separation. He wondered that what manner of love could a man display to his friend than when you sacrificed your time and risked your life by travelling to Enugu in 1935 and brought him home to be installed as king in Ire. The Onire said by tradition, after coronating an Oba, before he could ascend to the throne of his fore fathers, it was mandatory that he spent three months in our Ebi Akete compound in Elegemo where he had to learn royalty, get the sovereign power to the throne and that you really looked after him and made sure our family, Ebi Elegemo performed the necessary rites that really made him enjoy his stay throughout the period.
Wherever I go, Baba, I find your foot print permanently imprinted on the sands of time. You were also an ‘osomalo’ trader who had a shop at Ehin Igbeti in the present-day Marina, Lagos. You bought goods from the white merchants in Marina wharf and sold along Ibadan, Oshogbo, Ilesha, Efon-Alaaye, Ijero areas then back to Lagos. Baba mi, it will interest you that I also met one of the sons of your trading partners from Ilesa, Mr. Dairo Ologe who was in his late 80s, he too told me how you and his father, Pa Ologe were very close friends and as business partners, you were honest, faithful and always accountable to the last kobo to each other. He narrated how he once followed you, his father and another man from Calabar to the Eastern part of the country, then to Lagos Island area of Lagos State and explored having real estates there.
I also met one Chief Ignatius Maduforo (he told me this when he heard my name: ‘Adefolaju from Ire-Ekiti’) that he was then an apprentice with Pa Ogunlesi an Ijebu man who had a shop beside your shop at Ehin Igbeti (Marina), the business hub and the central business district of Nigeria which currently boasts of best prized and highly valued commercial buildings. You were also close to Chief Odumegwu Ojukwu Snr, as your shop was along the same street in Ehin Igbeti. It was in the same Marina, due to your hard work, diligence and business prowess that you owned landed properties in the 1940s and 1950s. All these reflected you had foresight and was extremely business minded.
Both oral and written records, including your personal diary which was discovered five years ago, show that due to your advocacy, representation, public roles and activities you were able to show your love for your community; Ire. During your Osomalo trade ventures in some parts of Yoruba land in the early 1920s, you discovered some Ire-Ekiti people that had been sold into slavery during the wars. You paid a lump sum as ransom for their release and transported them back to Ire-Ekiti all the way from Ile-Ife, Ilesa, Efon-Alaaye, Oke-Imesi, Ijero, Ido-Faboro etc. Many times, you were responsible for the payment of the developmental levies in your community at the District Office at Oke Imo, Ilesha. You gave support to Oba Samuel Adeyeye in town meetings, Ekiti Parapo meetings and history recalls that in showing your support for your town, you attended the “Pelupelu” meeting of first class obas in Ekiti land together with the Kabiyesi Oba S.A. Adeyeye, ensuring that Ire people also hosted Pelupelu meeting in Ire-Ekiti.
Femi Adefolaju on his 60th birthday Anniversary in 1960
In the 1970s, I used to visit the royal palace of the Elekole of Ikole-Ekiti. Of note was in 1984, I visited my friend Prince Kunle, now Justice Kunle Adeleye, the son of Elekole of Egbeoba land, Oba Adetunla Adeleye II. On getting to the palace of Elekole, I introduced myself as Femi Adefolaju from Ire-Ekiti, On hearing my name the then Kabiyesi welcomed me with open arms and paid glowing tributes to you and to your son, Adebanji Adefolaju, who sadly died in the Lalupon train disaster in the late 1950s. According to him he was Adebanji’s bosom friend and school mate at the College of Arts and Science Zaria. The Elekole gave me a free access into his Palace anytime I went to see Prince Kunle Adeleye, which was a privilege as at that time. The Elekole said when the Ikole people wanted to take over your egan farm along Ikole road, he Elekole had to intervene and confirmed that the egan farm belongs to the Adefolaju and Odo people in Ire.
I was told you were the only child of your mother, Mrs Agberibila Adefolaju (Nee Akomolafe of Ebi Elesin in Ilefa Odo Quarter). I am very grateful to Odo people for their support to me since my childhood. Your uncle, Chief Akomolafe the Alawe of Odo Ire-Ekiti, showed me love and affection. I recently visited your farm plantations at Igbon, Odo-Oko, Ashe and Egan respectively. It is impressive that Egan plantation, given to you by your maternal family of Ebi Elesin in Ilefa, Odo Quarters, is still intact and I appreciate the Odo people for this. The Odo-Oko and Igbon farms are also intact but the Ashe farm plantation can no longer be found as it has been taken over by someone else.
I was elated to hear that both the legendary Chief Obafemi Awolowo and the great Dr. Nnamdi Azikwe, on their respective electioneering campaigns in the 1950s visited the old Ondo Province and visited Ire-Ekiti where they personally recognised you as a community leader and visited your house for dinner and entertainment. Baba as well as passing the nights in your house! You were a strong member of Action Group (AG). Your first son, Ayo Adefolaju was then a journalist with the Daily Times who later became the Night Editor was instrumental to Dr Azikiwe’s visit having told him to feel free to stay in your house at Ire when Dr Azikwe embarked on electioneering campaign of the then Ondo Province area. Some of the Ire people that thought you were anti Awo confronted you and wanted to burn down your house for hosting Dr Azikwe. I was told you confronted them you were not a member of Dr Azikiwe’s party but, at the same time, could not refuse him coming to your house because, your son, Ayo, had asked him to visit you. You also educated those miscreants on how not to play politics of bitterness but politics of tolerance that accommodate everyone. Your personal assistant, Chief Ade-Ojo always make references to this particular stand whenever there were issues of intolerance in Ire community.
One of his sons, Tunde Adefolaju (1st standing from the left, a technocrat who got to the peak of his career in the federal civil service   
A particular incident happened in the 1950s when you were one of the dignitaries invited to Lagos to meet and welcome Her Royal Majesty, the Queen Elizabeth of England during her official visit to Nigeria. The photographs of your meeting and handshake with Her Royal Majesty the Queen Elizabeth still adore your living room years after your demise. The Queen recognized your boldness and confidence when you registered your embarrassment as to why Her Imperial Majesty the Queen should shake people hands with her own hands covered in gloves. You made it known to her that all the dignitaries that were selected to welcome the Queen were also important community leaders in their own rights. In response to the protocol officers who tried to stop you from engaging with Her Royal Majesty, Queen Elizabeth recognized and appreciate our boldness and asked them to allow you speak your mind. The Queen therefore explained that wearing of gloves is a tradition of the royal family and was not limited to shaking of hands of Africans but to everyone the Queen meets.
Baba, on daily basis, I tell my children, your grandchildren: Olumide, Mofeoluwa, Mayowa and Eyitemi about you and they all wish they had known you. Baba, whenever I thought of not knowing enough of you, I take solace in your good parental roles and skills bestowed on my older siblings, the education you gave your children and all the good works God enabled you to accomplish for mankind to His glory and honour still speak for you to date. If indeed it is a fact and not mere myth that one reincarnates, regardless of the number of times I make my re-entry into this world, I will always choose to be your son and have you as my beloved father but will only request that God enables you live longer for me to know more of you.
Your exemplary life cannot be summed up on the pages of a book, you were and still a role model to all those who had one form of interaction or the other with you. I wish more than anything that I could turn back the hands of time to have known you personally, have you assess my performance at school, eat with you from the same bowl just like my elder siblings, go hunting and farming with you, hear long tales of your sojourn, travails, travels and interactions with the foreigners, chastise me when I’m wrong and have you ‘bribe’ me with goodies like “okele” but called ukele” in Ekiti dialect - pounded yam meal almost immediately after, take long evening walks with you, accompany you to the numerous town meetings, festivals and ceremonies where I could ‘steal’ occasional sips of palm wine, basically to share those cherished childhood, puberty and adulthood memories with you as my paternal figure indeed.
Most of all, I wish you were around to watch me blossom into adulthood and eventually become a parent myself and know my own children, your grandchildren…If you could get a chance to look down from heaven, as my mother told me of her last moment with you…when you were about to enter the vehicle that took you to the Adeoyo Specialist Hospital, Ibadan for medical checkup, you asked my mother to bring her three months old baby boy into your hands and you prayed for me powerfully that everybody was looking curiously in admiration. It was on record that you did not handle young infant but you did for me and told them to watch out for what I will become. Baba, I am still waiting to see the confirmation of your words. That was my mother’s last moment with you and immediately after you entered the vehicle for Ibadan and you never returned home alive! I am pretty sure you would smile and be very proud knowing that all your children, grand and great grandchildren, spread all over the world, turned out just the way you mapped out or even better than you could ever think or imagine.
Baba mi, remember your son you named Oluwafemi, whom you left when he was three months old to sleep with your maker, it will interest you that through Dipo and others, he was supported in fulfilling one of your greatest desire and dreams, that your children get western education! I am sure you will be happy that I had my first and second degree at the University of Ibadan and Cardiff University in Wales respectively. I worked with the Federal Ministry of Education as a teacher before I travelled to England where I work for over fifteen years as Housing Officer in the Department of Housing, Senior Specialist Service Manager with Refugees and Asylum seekers Department and the Social Service Department. I was also appointed and served as the Senior Special Adviser for Diaspora Affairs and Integration to the Executive Governor of Ekiti State, Nigeria in 2010 to 2014. After losing the election in Ekiti, I went back to work with the Royal Borough of Kensington and Chelsea as a Senior Practitioner Manager and currently running my own real estate business in Ikoyi, Lagos.
You have always been on my mind and will forever be fondly remembered by me and all my children, your grandchildren. Baba mi, omo at’owuro se omo oyinbo. Omo Elegemo odinyan, omo alaran upo kan m’owo epo bai lu. Omo eleyinkule a de sure, omo orisa oke je mi se bi ti onile yi. Omo a jojo mowo maso, Omo o tele tele te pound! Sun Re o, Rest in perfect peace!!!.
Olufemi
Some of his children

The write up by Chief Lucas Odoko Ogunlade, the Ejeu of Elegemo Ire-Ekiti on Chief Joseph Alonge Adefolaju, is an excursion into the history of some aspects of Ire community as well as the life and times of the distinguished Ire-Ekiti high chief. Chief Ogunlade who was a personal assistant to High Chief Adefolaju, wrote this piece at the age of 105 years in August 2012 and I quote:
The history of what I know about Chief Joseph Alonge Adefolaju, the Elegemo of Ilegemo Street, Ire-Ekiti, Ekiti State. I am now 105 years old and I was the late chief’s henchman and the Chieftaincy title he held then was the highest Chieftaincy title in Ilegemo Street till now and the Chieftaincy title of Ejeu is the next in rank to the chieftaincy of his own father, and my father was then the Ejeu of Ilegemo in Ilegemo street in Ire Ekiti then. I used to help him write letters to his children who were in the schools and overseas and also used to post the letters to them as well. I also used to write and read the replies of all letters to him. I also helped in keeping his accounts and records.
The man, as I know him, was a trader and a professional farmer, who started with produce buying and selling of cocoa beans and palm kernel. He later traded in clothes selling and goods supplied by the white men then in his shop at Eyin Igbeti, now Marina, Lagos and brought them to hinterland Yoruba land. He became Elegemo of Ilegemo Street after the death of Chief Gregory Oke Afuye his predecessor. Joseph Alonge Adefolaju before his inauguration as a chief, was a local politician, in his own right, attending all town’s meetings, in the oba’s palace at Ire-Ekiti, and also represented Ire town in outside engagements.
In 1935 June, he was asked to be the King in Ire-Ekiti but declined and rather travelled to Enugu, now Enugu State capital to call one Samuel Adeyeye to come and become the Onire of Ire Ekiti. He said he would give every support to the new king which he did throughout his life time to the development of Ire community. Late Chief Alonge Adefolaju was not selfish. He loved the town and the indigenes, and always sought the path of progress and righteousness for the town. He was a philanthropist to the core. He encouraged parents to send their children to the schools both males and females. Through his persistent persuasion, other parents in Ire sent their children to schools. Chief Adefolaju saw far more into the future as regards the benefits of western education, hence sent his children to school.
He was a disciplinarian; he drank palm wine in a moderate level. He never drank just any water, but from a special stream called Omi Ashe (River Ashe) clean water from a particular rock. He trained his children in the schools both primary, secondary and university levels. His Chieftaincy title as the Elegemo of Ilegemo Street, Ire-Ekiti, ranks him to be very important in Ire-Ekiti. When one Chief Asaba Sholagbade died, he also acted on his behalf, till one Gbolade Jegede became Asaba, and through the virtue of Adefolaju post as the then Elegemo, he was therefore authorized to perform ritual activities on Gbolade Jegede to become the then Asaba of Ikeleju. His position as the Afobaje in Ire thus entitled him alone to perform rituals ceremonies to install and coronate all Onire of Ire-Ekiti, and all prominent Chiefs in Ire-Ekiti, Nigeria. He was the only child of his mother but he had many wives and as a result of this he had many children, males and females.
From him, I learnt hard work, humanity, truthfulness, kindness and philanthropy, as he used to say that we should be our brother’s and sister’s keeper. It was on record that he single-handedly encouraged and assisted many people to achieve western education. That is why many of his own children attended schools in at home and abroad through his early contact with the Irish catholic priests. He was the one who first sent his children to study abroad in Ire-Ekiti. His close friend, Chief Jegede’s son followed. People used to call him a diligent and brilliant person, who also worked hard in his farm he did not use to eating in just any place until, he came back home to take his food.
In 1959, when Dr Nnamdi Azikiwe, the National leader of National Council of Nigeria and Cameroon (N.C.NC) later National Council of Nigeria citizens came to Ire-Ekiti on a countrywide political campaign, Dr Zik stayed in his house to the admiration of Ire people. Zik recognised him as a shrewd local politician and shook his hands and introduced him to the people. Chief Adefolaju’s first son, Emmanuel Ayodele Adefolaju was a journalist and later became the Editor, working with Dr Nnamdi Azikwe, in the then West African Pilot Newspapers and the Daily Times in Lagos which I believe was the biggest newspaper in Africa then.
Chief Obafemi Awolowo also visited his house during his campaign tours to Ire-Ekiti. Chief Adefolaju was a member of Awolowo political party. Chief Joseph Alonge Adefolaju was the first and for a long time the President of Egbe Ifeloju Society of Saint Gregory's Catholic Church, Ire-Ekiti in Ekiti State, and of the Diocese of Ekiti too. Pa Adefolaju due to his wide traveling, initiated the idea of building a new modern bigger church and was the first to pay the contributions and to the admiration of everybody, he also paid for all his children. The election to the position of Baba Egbe was keenly contested among three members viz; Pa Joseph Alonge Adefolaju, Emmanuel Jeje and Julius Farinnako of the same Egbe Ifeloju of the church. Due to his progressive activities, he was elected the Baba Egbe of the most popular and influential society, Egbe Ifeloju of the said church. It must be noted that Pa Adefolaju was the Baba Egbe of the society and at the same time the Chief Elegemo of Ilegemo Street in Keleju Quarter of Ire-Ekiti. Up till his death in January 1961, he never allowed conflict between his religion and his tradition. My advice to you, the children, grandchildren and the great grandchildren is that you should cooperate to keep up the legacies which the said Chief laid down. May he rest in perfect peace. Amen.
Femi Adefolaju and his nephew, Debo Adefolaju
Mrs Taiwo Ajayi-Lycett, the mother of Debo Adefolaju flanked by Mr & Mrs Fem Adefolaju
Dr. Marcus O. Abe wrote and I quote: I am thrilled and indeed I feel very privileged to be called upon to write on Chief Joseph Adefolaju, a colossus of his generation. Perhaps, I need to start with a confession: that my memory of this man is not as full as I would have wished because of the very wide gap between his generation and mine. But the much I remember of this large-hearted gentleman have to do with his roles as a prominent elder and member of St Gregory's Catholic Church Ire-Ekiti, particularly his uncommon courage in standing up to the white Rev. Fathers who were then responsible for the administration of the church parishes in the Diocese. In the late 1940s and 1950s, the different parishes in what is now Ondo and Ekiti Dioceses were administered centrally from Akure with priests sent to the churches to say Masses on Sundays (not every Sunday though). The two Dioceses were under the Ordinary of the Bishop residing at Akure. There were few parishes in Ekiti at that time. They were in Ado, Ilawe, Efon, Igbara-Odo, Ire and Usi as well as Oye-Ekiti. As it were, it was the priests residing at Oye who paid the occasional visits to Ire. They would come to Ire on Saturday afternoons for confession, set their camp beds in one of the school classrooms and sleep over for the Sunday Mass.
    Of course, it goes without saying that the Catholic schools in the parishes were under the supervision of the priests. After Mass, the priest would hold a short meeting with Church Council members who were usually drawn from the Elders of the congregation. He would then collect the offering money and any other collections such as the yearly contribution and annual harvest levies. He would take his leave, promising to be back in another two or three weeks. St Gregory's Catholic Church had a very large population of Catholic Faithfull, next only to St Patrick Cathedral, Ado-Ekiti.  It is instructive to note that St. Greory’s financial contribution was about the largest in the Diocese. But despite the huge financial contribution of St. Gregory’s to the central pool of the Diocese, the various developmental projects in other parishes were unfathomably not extended to Ire-Ekiti. Pa Adefolaju, an apostle of decency, honesty and fairness as well as about the most enlightened of all the elders of the congregation, would have none of that. A widely travelled personality at that time, he wondered why Secondary Schools and Teachers’ Training Colleges were established at nearby parishes while Ire was excluded from such largesse. Besides, Ire was denied of Catholic Hospitals, considered as indication of progress like Secondary and Teachers’ Training Colleges.
He therefore put on the gauntlet to question the rationale behind such a blatant display of injustice and unfairness by volunteering to lead a delegation of the elders to the Bishop at Akure to formally complain about the unfair treatment and inequitable disbursement of the money collected from the parishes towards general developmental efforts. Unfortunately, the response by the Bishop at Akure was not quite agreeable. The bishop explained that the church was more interested in the areas where the people needed to be encouraged to embrace the faith and that schools and hospitals had to be built in such areas as a means of evangelization. Ire, according to him, was not a problem because a large number of the people (nearly 80%) had embraced the Catholic Church. Consequent upon this development, the Catholic Church at Ire then decided to cut off all financial contributions to the Diocese and this led to the refusal of the priests to visit the Catholic Church at Ire. The war of secession had started. It was not only waged, it raged for well over five years. During the over five-year period of the ‘secession war’, the church at Ire was alert to its financial responsibilities. It simply pooled all its yearly contributions together and used same to purchase a lorry which was plying Ire-Lagos. Because of his antecedent and his impeccable character, Chief Adefolaju was naturally the most fitted and proper candidate put in charge of the management of this nascent commercial venture, with Prince Paul Falade as his secretary. For control purposes, a management team was put in place to check on the management of the ''enterprise''.
However, the war of ‘secession’ came to an end with the installation of a new Bishop and the enthronement a new Diocese of Ekiti with Rt. Rev. Michael O. Fagun in charge. An astute administrator and a man of peace, Bishop Fagun promptly reconciled with church members, established St. Joseph Catholic Hospital with a promise to establish a Catholic Secondary School (CKC) at Ire. It is in the area of education of young people that Pa Joseph Adefolaju stood high above his peers. He was the most travelled individual amongst his friends. His trips to various places in the country gave him the rare opportunity to be aware of the import of education. His early recognition of the significance of quality education is worthy of note. A rather selfless individual, he was in vantage position to communicate the importance to his friends in the weekly meetings of the Church Society (''Egbe Ife'') of which he was a prominent and vocal member. Egbe Ife was the most influential Men's Society of the Ire Catholic Church at that time. The impact of his conviction saw the upsurge in the education of young people, most of whom were children of his society members. To set the pace, Pa Adefolaju sent his own children to high-brow Catholic Schools very early in life. A trailblazer, he did not stop at local schools to get his children educated, some of them went as far away as attending St Gregory's College, Lagos. As expected, many of his peers ‘caught the flu’ by following his footsteps.
His first son, Chief Emmanuel Ayo Adefolaju, was one of the very early Catholic trained Primary School teachers and lest I forget, Ayo Adefolaju was a chip of the old block: he was as courageous as the old man in dealing with the white Rev Fathers who were School Managers/Inspectors then. His second son, Mr Peter Adefolaju, who attended St Gregory's College, Lagos, gained admission to the Engineering College, Zaria and later went to study Engineering in England. He could have been one of the early Engineers in Nigeria, but he sadly lost his life in the train disaster of Lalupon. The third is Mr Albert Yinka Adefolaju who was not just among the first set of students of Acquinas College, Akure, but was also the first Prefect. Chief Tunde Adefolaju, the fourth also attended St Gregory's College, Lagos before proceeding to Ireland and U.K. for Bachelor’s and Master’s Degrees. He took up appointments in the Nigerian Federal Civil Service on his return from abroad and worked as Head of Federal Government Colleges in Kano, Yola and Odogbolu before retiring as a top Federal Civil servant. His daughter, Mrs Theresa Mopelola Olofinlua (Nee Adefolaju) studied abroad and she is the first woman in Ire to graduate in England. She too helped many Ire sons and daughters before she retired from the federal civil service. Mr Adeola Adefolaju was one of the first to study photo journalism in Nigeria and worked along with the legendary Chief Peter Obe and served as the Assistant Photo Editor in the daily Times.
I testify here and now that I benefited from Pa Adefolaju’s advice to my father, when in 1956, I passed the entrance examinations to a number of local secondary schools in Ekiti. My father was weighing the cost of sending a child to a secondary school (a six-year course) as against the low cost of a Teachers’ Training College, for three/four years. It appeared to my father that a College Education at a low cost would be achieved by going to a Teachers’ Training College. But Pa Adefolaju maintained his preference for a college education in a Secondary School or Grammar School and as a result of his intervention, my father changed his mind and sent me not just to any Secondary School, but to Aquinas College, Akure which Pa Adefolaju believed was just as good as St Gregory's College, Lagos where his own children had received sound education. I also testify that it was upon the insistence of Pa Adefolaju that Mr Remigious Afolabi (son of Pa Phillip Afolabi, his cousin) was among the second set of Aquinas College, Akure, following the footstep of Mr Yinka Adefolaju.
Pa Adefolaju was a man of strong character and conviction. He was bold and courageous. He was affable and exuded confidence, respect and awe. He was a man of peace: a good example for others to follow. He was a leading light of his time. He was a good example of a gentleman. As a result of his commendable candour and incisive intellect in dealing with issues, everyone looked up to him for fairness, justice and genuine advice. Such was the life of this great man.

Thanks be to God for the lifetime of High Chief Alonge Adefolaju. The memory of the righteous shall be in everlasting remembrance. Psalm 112. 


Saturday, 3 February 2024

Indigenised Ekiti Investment Trust Fund by Seye Adetunmbi

INDIGENISED EKITI INVESTMENT FUND: A Collective Investment Scheme Initiative of Ekitipanupo
By
Seye Adetunmbi, 6/3/2024
(Being an essay written to mark the 19th anniversary of convening Ekitipanupo Forum)
If and when a system works properly to serve larger interest, the state's resources will be applied optimally on the creation of an enabling environment and the provision of basic social amenities for the good of all. Consequently, jostling for various shades of political appointments and all forms of ignoble patronages are bound to be minimal. As a matter of fact, it is the good purpose-driven government officials that will be headhunting quality people to serve in government. Okonjo-Iweala, Ezekwesili, Aganga, and Adesina are examples of a few technocrats in this category. Once the task was done, the appointees went back to their vocation and did not lurk around for another appointment. That's the difference between the developed world, cum a purpose-driven disciplined government and the chronically corrupt nations or state governments that have been cornered by the rent seekers, political jobbers and establishment elements who feed fat on the failed system. 

This also explains why those who have the means to relocate to the better structured communities outside Nigeria opt for it. The reasons are not far-fetched. Once they have a source of income, no matter how humble the job they do, they live well with peace of mind. What Nigerians need are righteous leaders at all tiers of government who will facilitate a workable system that will serve collective interests better on a continuous note. Consequently, "japaring" would be a matter of choice and not compulsion to make ends meet and live decently because whatever you are looking for outside is available in bounds too, within. Also, taking up government appointment would amount to making a sacrifice to truly serve in the real sense of it and not that the appointees' survival depends on it.
    Let us be sincere with ourselves. For as long as there are fundamental flaws in the Nigerian system, going about an election at all tiers of government will be hugely monetised. Whoever gets the party ticket is massively indebted to those who facilitated candidacy. It amounts to imprisonment in a way because their hands are tied. The situation becomes more compounded if the incumbents are products of their political benefactors. Rocking the boat or deviating from pact is out of the equation. It is rather unfortunate because it is a kind of a vicious cycle. Yes, the cost of getting to the office has to be recouped while preparing ground for the resources required for the next election. In essence, the government affairs would be gone about or managed in the manner to ensure continuity of the political structure in office, perpetually at the high expense of the poor masses. Unlike the olden days when plausible and the well executed cardinal programmes ensured continuity of political parties in government, it is something else these days.
    By the time the benficiaries of such setting or any compromised political arrangement are elected/selected to office, an enduring productive government is bound to be absent, or it practically becomes illusive. Jostling for the government appointments and patronages become the order of the day. Invariably, godfatherism is kind of systematically entrenched with a multitude of hangerson and palace jesters. The parasites of the status quo would do everything possible to prevent anyone who will effect changes that will serve the larger interest and give power back to the poeple from getting elected to the office, or be in government. The status quo of a warped system is their pot of soup. The base and source of their afluence and influence is being a politician. They don't have other means of sustaining their lifestyle and trips outside government machineries. It would be tough for them to let go. This is the disturbing reality of our situation in Nigeria.
    In as much as the basic standard of living is assured for the majority, then most people will be contented with their vocation. When the citizens have access to electricity, pipe borne water, adequate policing/security, gainful employment opportunities, good healthcare, and quality educational system in their wards, corruption will be easier to curtail. Also, the rat race to be part of government or play party politics to make a living would be prone to run out of fashion, especially among the discerning citizens. The albatross of the desired paradigm shift to the achievable best practices are those who have hijacked the political system for personal gains and the benefit of a small clique of cronies.
    Whoever the warped system and the compromised political party arrangement throws up at any tier of government will be bound to be inequitious to the larger interest of the society in the utilization of the state's scarce resources The unfortunate arising government and its administration is characterised by projects that can aid the diversion of state's treasury to private pockets, sectional appeasement, "settlement" of all shades of "middlemen", and segregated patronage, instead of the efficient allocation of the commonwealth to effectively serve larger interests. What can restructure the infamy paradigm is a kind of conscious jettisoning of double standard and deliberate progressive actions that will end the very disturbing trend and change the narrative.
    Any self-serving political group will tilt towards the person that approximates the ideal of their sponsors and the conclave of other members to lead them. A group of yahoo-yahoo scammers or fraudsters are not likely to elect a law enforcement officer as their leader. Those who live on or exploit the leakages in the system will not let anyone inclined to block stealing and philandering to be elected to office. We can only pray for more outstanding upright persons to infiltrate their ranks, who will have the option of either joining them or doing the right thing. It will take a lot of guts to effect change and make the difference. Good purpose driven leadership is required to take people through the desired transformation process. Time will tell if the current dispensation will take us there in Nigeria at all tiers of government.
    Considering this reality and the difficulties associated with reversing the uncharitable cancerous political trend too soon, despite the genuine integrated efforts of the conscientious Ekitipanupo Initiative (EI) over the past years, it now becomes imperative for the well-meaning indigenes to continue to explore avenues on how to improve the lot of our people outside the government machinery. While keeping hope alive that the political pharoahs holding down the progress of Nigeria and the potentials of the state in the jugular will let the people go at some point that no one knows when. Ekitipanupo can not give up on being the conscience of the harpless kinsmen. Hence, whatever can be done by way of a strategic ongoing intervention without any interference by government magic becomes imperative.
    I was spured by the recent stock position statement of the investment portfolio of Ekitipanupo and its excellent performance. It was the balances of the various monies contributed by the financial members of the prized indigenous intellectual roundtable for different projects in the past 19 years. The EXCO, under the leadership of alagba Gabriel Akinyemi, FCS, a native of Osi-Ekiti, had been managing the fund efficiently. The initial balance was invested in the FGN bond, and thereafter, the portfolio is now a mixture of equity and government stocks.
    My modest investment banking intuition prompted me to put on my thinking cap and explore the possibility of actually going all out for an Ekiti indigenous collective investment scheme. I once did a presentation on this model for an Ekiti Venture Capital Fund at the Ekiti Summit hosted by the Ekitikete International Forum in the USA in 2006. You can find what I wrote then to read below this article. There couldn’t be a better time to actualize this than now. Where there is will, there is a way!
    The nomenclature for what is being proposed is tagged Ekiti Investtment Fund (EIF), which will be promoted by Ekitipanupo Forum. The fund will be professionally managed in gratis by a team of very competent volunteers facilitated by Ekitipanupo Forum. The fund will first have a base that will be grown from time to time through strategic portfolios that will generate considerable returns on investments over time. The focus of the fund will be to create wealth in Ekiti-State with trickle-down effects for the benefit of the majority. It will fund the identified good business ventures in both the formal and informal sectors of the Nigerian economy that will create employment for Ekiti indigenes within the state.
    I couldn’t think of any other thing to write on the Ekiti project on the 19th anniversary of Ekitipanupo than to bear out my mind on this thought process that has occupied my consciousness recently It is my hope that members of Ekitipanupo with relevant skills set will constitute a committee to look into the legal framework and work out the modality on the Ekitipanupo Fund Project (EFP). The goal of the Ekiti Investment Fund is to be proficiently managed by volunteers who are tested professionals with cognate experience. To the glory of God, Ekiti is blessed with quite a number of technocrats in the required professional fields who shall willingly serve. It is hereby humbly proposed that the fund should be launched to mark the 20th anniversary of Ekitipanupo on the 6th of March 2025. We have a year to plan ahead.
    It is essentially going to be a private sector initiative without any political party affiliation and interference of government. Primarily, every networth indigene will be expected to cheerfully contibute out of freewill to the purse. Voluntary grants or contributions without any strings attached from the government and various donors from far and near (within and outside the state) will be appreciated. The current value of the Ekitipanupo portfolio should constitute the first subscription/seed money for others to build on. Ekiti people at home and abroad shall take ownership of the fund while Ekitipanupo will manage it in trust for the people.

Happy 19th anniversary to Ekitipanupo Forum
1
EKITI VENTURE CAPITAL FUND IN PERSPECTIVE
Being a presentation of Seye Adetunmbi in 2006 at the Ekiti Summit hosted by Ekitikete International Forum in the USA. Also an extract from Financial Intermediation and Practice, a boo written by Seye Adetunmbi, published in 2020

Background: Ekiti as a state is indisputably endowed with natural resources. The challenge of Ekiti-State government and the indigenes at home and abroad is how to harness and channel multi-faceted resources for the integrated benefit of Ekiti community at large. In essence, when the indigenes with the support of the government through provision of the right incentives can convert business initiatives/thoughts into business ventures, the fortune of the state will look up on the path of self-sustenance with little or no dependence on allocation from the federal government. This is why floating of an Ekiti Venture Fund is proposed to pool funds for the indigenes to engage in more economic activities in the state.
    Ekiti Venture Capital Fund (EVCF): It is an initiative to foster entrepreneurial culture among Ekiti people when they have access to funds that can be invested in various productive ventures. More inventive people can set up their own businesses which will translate to provision of more jobs and creation of wealth for the indigenes. Ultimately, this will have a multiplier effect on the Nigerian economy.
    Why the Venture Capital Fund Option: Globally, small business sector is an integral part of renewal/regeneration process for turnaround of most economies in the world. This is evident in Bangalore, the “Silicon Valley of India”. New waves of small high-tech businesses have overtaken the old “chaebol” - the big firms. Venture capital is a classified private equity fund or risk capital. It is a specialized form of funding which provides equity instead of debt or bank finances for new business initiatives. It is also a long-term investment fund for start-up companies and growing businesses.
    Approach: Collective Investment Scheme (CIS) - Collective investment scheme is an arranged pool of funds managed on behalf of investors by a professional money manager. The fund can be invested in venture capital, portfolio of equity stocks, bonds and other securities. The subscribers to any CIS will receive shares or units that represent the investor’s pro-rata share of the pool of fund assets. The Nigerian Investment Securities Act (ISA) No. 45 of 1999 backs this instrument in the financial market. CIS is defined as; “any arrangement with respect to property of any description including money, the purpose or effect of which is to enable persons taking part in the arrangements whether by becoming owners of the property or any part of it or otherwise to participate in or receive income arising from the acquisition, holding, management or disposal of the property or sums paid out of such profits”
    Types of Collective Investment Scheme: CIS discussions herein are based on what obtains in the instance of Nigerian ISA No. 45 of 1999.
  • Mutual Fund: Mutual fund is a public company incorporated solely to hold and manage securities or other financial assets in line with the laid down investment objectives
  • Open-end Fund: An open-end fund is a CIS structured to issue new shares or redeem outstanding shares as a going concern. The price would be determined by the net asset value per share from time to time at the point of valuation.
  • Closed-end Fund: This type of CIS issues fixed numbers of shares and does not repurchase the shares from their shareholders when they decide to sell them. Investment trust funds are often structured as a close-end fund which distinguishes it from unit trusts schemes.
  • Unit Trust: The funds of investors are pooled together and deployed to invest in a portfolio of securities and other financial assets with the beneficial interest in the assets of the trust divided into units. The unit trust instrument is backed up by a document known as the trust deed. In Nigeria, unit trust is structured as an open-end fund
The Venture Capital Fund or A Specialty Fund
This a pool of funds invested in specific areas e.g. an Ekiti venture trust fund. If such fund is floated in Ekiti-State it is bound to provide more jobs if invested in the right sector of the economy. Funds invested in specific industries/sectors (petroleum, high-tech/IT companies) for instance will provide more jobs. However, venture capital funds are subjected to certain risk-level related to their sector in which they specialize.

Parties to Collective Investment Scheme: The professional parties to a Mutual Fund include:
The Mutual Fund Company – The mutual fund company is strictly established as a legal entity to operate as a mutual fund company. The SPV will be duly registered with SEC.
Mutual Fund Manager – The Fund Manager is a professional entity appointed by the mutual fund company.
Custodian – This is the specialized firm appointed by the mutual fund company to keep custody of all securities owned by the fund. It is usually a bank, insurance company, or financial institution duly registered by SEC.
Other Parties are: Reporting accountants, solicitors to the fund and issue. The coordinator is the issuing house/underwriter; the firm will package the prospectus, marketing and make proceeds available to the mutual fund.

Parties to a Unit Trust
Manager – It is a company duly registered by SEC. The company establishes the unit trust and it is required that the fund is managed by same company.
Trustee - This is a company appointed by the manager to take in custody or under its control the property of the unit trust and hold it in trust for the investors. Trustee must be a financial institution duly registered with SEC
Other parties are Reporting Accountants, Solicitors to the Fund and Issue under the coordination of the Issuing House/Underwriter that will package the prospectus, marketing and make proceeds available to the Unit Trust.

Structuring and Ekiti Venture Fund
There are standard procedures for packaging collective investment schemes. The investment instrument must be duly registered with SEC. For as long as circulation would go to more than 300 people and the subscribers’ register would be more than 50, then SEC must be involved. The objectives of the Ekiti venture capital fund must be clearly stated in the prospectus. The amount of fund to be raised and the specific areas in which the fund would be invested would be clearly stated in the offer document. It is imperative for any promoter of Ekiti Venture Capital Fund to carry the state government along such that it is not politicized and the machinery of government is deployed to enhance success of the fund.
    Also, Ekiti State Council of Obas would be consulted appropriately to facilitate an effective reach out to the people in their respective constituencies. Communities that have no Community Development Associations (CDA) would need to commence processing such without delay. Decide on the most appropriate SPV. In recognition of the fact that Ekiti Venture Capital Fund would fall within the class of a Specialty Fund, a closed-end arrangement is recommended. Appoint an issuing house/investment banking firm to package prospectus, coordinate listing, marketing, and interface with the fund manager. The Ekiti Venture Capital Fund should be structured such that Ekiti people in Diaspora would be in position to subscribe. Minimum subscription could be N10,000 $50, 40 Euro, or 30 pounds.
    Who can subscribe through CDAHigh net-worth individuals and low income earners. CDA of Ekiti towns and villages can encourage every household to contribute a flat levy e.g. N1000 per landlord or compound to a common purse which will be invested in Ekiti Venture Capital Fund. A typical CDA can be constituted by a town; two or more villages/hamlets can also come together and form a community development group.
    Managing an Ekiti Venture Capital Fund: Investment Objectives - Typical collective investment schemes, be it a mutual fund, unit trust, venture capital fund or any other form of investment trust fund, they are generally categorised according to their investment objectives and policies. It could be aggressive, active, concentrated, diversified or defensive. The investment timeframe could be long-term - 5 years plus, medium term – 2 to 3 years or short term – less than one year

Ekiti Venture Capital Fund can be managed from two perspectives.
  1. One arm would be on a continuous basis. This is the period that the fund would reside with the fund manager before it is disbursed into Venture Capital Projects (VCP)
  2. The second arm of managing the fund would require articulating and clearly defining the criteria for VCP that would qualify for Ekiti Venture Capital Fund.
The appraisal of request for funds is an aspect of the fund management that should be ceded to a neutral body. There would be option of exit from VCP after a given period of time.

Benefits of Collective Investment Scheme and Ekiti Venture Capital Fund
  • Subscribers - Enjoy the benefit of affordability, professional management of the fund, diversification of investment portfolio, flexibility and liquidity.
  • Ekiti-State – Stands to empower indigenes through wealth and employment creation.
  • Nigeria – The gross domestic product would be impacted
  • Ekiti Indigenes – Subscription give them sense of belonging, to contribute their quota to the economic development and growth of Ekiti
Conclusion: No doubt, an Ekiti Venture Capital Fund is going to be a peculiar financial vehicle and it has to be packaged as such by putting into consideration, the realities of its characteristic nature. The choice of an appropriate tested investment banking firm would go a long way in facilitating its success by guiding the promoters appropriately. Ekiti venture capital fund is going to be a bold step and a pace setter in the Nigerian capital market if this concept is eventually realised. While wishing the progenitors of Ekiti venture capital fund a “dream come true”, this landmark initiative is laudable and should be encouraged by all well-meaning Ekiti indigenes. All the best!

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