Friends and associates of Alhaji Amusa Oladimeji Gbadamosi Otiti, former Deputy Governor, Central Bank of Nigeria, who turns 90 today, share fond memories of the iconic figure who has made a mark both in the public and private sector, reports Ibrahim Apekhade Yusuf
To say that Chief Amusa Oladimeji Gbadamosi Otiti has made good in life is to simply state the obvious. Pa Otiti, who turns 90 today, is generally regarded as the doyen of banking in Nigeria considering his immeasurable contributions to an industry he served meritoriously both in his active days and even in retirement.
Pa Otiti’s career trajectory
Born on the 12th of November 1927 in Ibadan, the young Otiti started his banking career in January 1949 as a chief clerk under the British and French Bank Limited, a position he held till the end of 1951.
He later joined the employ of the Central Bank of Nigeria, in October 1958, as one of the pioneer staff. At CBN he rose from Managerial Assistant, Assistant Banking Manager, Assistant Currency Officer, Manager Grade “A” and Assistant General Manager to Deputy General Manager (Kano Branch) and was later transferred to the head office where he held the position of the Deputy General Manager between December 1966 and August 1968 and became the Deputy Exchange Controller of CBN and acting head of department –1968 to March 1970.
Besides, he served as Head of Department from April 1970 to 1976 and was subsequently promoted to the position of Chief of Banking Operations in January 1976–September 1977. He later assumed the role of Executive Director, Operations from September 1977–May 1982.
In May 1982, he became the Deputy Governor of the Central Bank of Nigeria, a role he served for six years until his retirement in May 1988.
As one of the leading lights in the nation’s financial service sector, his main forte, even in retirement Pa Otiti continues to play leading roles in the banking and allied sector, whether in advisory capacity, amongst other opportunities.
A man who truly distinguished himself, Pa Otiti earned numerous accolades both locally and internationally, including: Order of Order of the Niger (OON), chieftaincy titles, as well as professional honours of several professional bodies in and outside the country.
What people say about Pa Otiti
For a man who bestrode the nation’s banking landscape like a colossus, Pa Otiti no doubt made a lot of impact in the lives of many who crossed his paths.
One man who knows Pa Otiti inside-out, in a manner of speaking, is Mazi Okechukwu Chris Unegbu, Chairman/Chief Executive, Maxifund Investment Plc.
Expectedly, Mazi Unegbu, a multi-disciplinarian, spoke of Pa Otiti in affectionate terms and superlative adjectives.
Speaking with our correspondent over the weekend, Unegbu who has known the consummate banker for over four decades said he is such a plain man.
Unegbu, who recalled his first encounter with Pa Otiti, said matter-of-factly that it is very difficult to describe and capture this great personality.
“I knew Baba Otiti when I was an undergraduate student of the University of Nigeria, Nsukka. I was then studying Finance. I was the President of Finance Students Association (FINSA). We wanted to do our Finance Week and we were looking for a personality in banking to come and talk to the students on Nigerian Banking. The lot fell on me to go and invite Baba Otiti, then Deputy Governor of the Central Bank of Nigeria (CBN). Armed with the invitation letter signed by the Head of Department of Finance, Professor W. O. Uzoaga, and myself, I headed to Lagos. I did not have an appointment but when I got to the reception and announced my mission I was led to the office of Baba Otiti. I was trembling and sweating in an air-conditioned office. I was offered tea and biscuits, but I never touched it wondering whether I was dreaming or I was in the office of the Deputy Governor of the CBN,” Mazi recalled.
A man shorn of all pomposity and bureaucracy for someone of his status, Pa Otiti, Mazi informed, ushered him into the very big office of the Deputy Governor, where he was warmly received and got the former’s commitment to speak as a guest lecturer at a ‘mere student function.’
Pa Otiti, who played a father figure and mentor for Unegbu, was to later influence the latter’s choice of career. “When I left banking and thought of what else to do, Baba Otiti encouraged me to go into the Capital Market and specifically into stockbroking. I thought it was going to be easy to do the examination only for me in the heat of the examination to realise it was not easy and I banged the examination. I went and told him that I failed the examination. He asked me to go and repeat the papers but that I should be prepared this second time,” Unegbu recounted.
The Owerri-born lawyer also recalled how Pa Otiti singularly helped him to secure his operating license as a stockbroker after making several futile efforts.
“When I incorporated a company, became a Broker but the company could not be registered by the Securities and Exchange Commission (SEC), I went to Baba Otiti to tell him that SEC has not registered our company. He then asked me to get ready and come to Abuja with him together with those that I want registered as capital market operators. I went and bought ticket for Baba and took to him. He was very angry with me and asked if he asked me to buy a ticket for him. He did not take the ticket from me and I became afraid that the journey has been cancelled. Lo and behold, I was wrong. On the appointed day, we went to Abuja and we met Mr. Wale Adetunji who was then the Director General of SEC. That was when I met Mr. Adetunji face to face for the first time. He got up from his seat and said to Baba Otiti “good morning” very courteously. Baba replied and said ‘what is good about the morning when you refused to register the company of this my son here and you keep registering the companies of those not fit and proper?’ Baba refused the seat given to him. Mr Adetunji took my application together with copies of my earlier ones, called those responsible and in less than one hour, the letter approving our registration was handed to Baba Otiti who took it, gave it to me to read and then said to me, “is that what you want?” I said “Yes.” My capital market operators were registered equally and we did not go through the rigours of any interview. We went from there back to the airport and came back to Lagos. What a man and a great man for that. He was highly regarded wherever he went. He was believed totally by any person that has come in contact with him.”
An elated Unegbu also recalled how Pa Otiti had personally gone out in the field to campaign for him during his plans to seek election into the office of president of the Chartered Institute of Bankers (CIBN).
“When the time came for me to be president of CIBN, these elders and giants of banking in Nigeria led by Pa Otiti together with Professor Wole Adewunmi gave their wholehearted support.”
The next episode which is very instructive, Unegbu recalled, “Was when CBN appointed me to be the Managing Director of Citizens International Bank Plc. I went and told Baba Otiti, I thought he would tell me congratulations. He did nothing of such but after we had lunch together in his house, he told me that before I go to start as the MD of Citizens that I should come to see him on another day. On the day we agreed, I went early to see him. I stayed almost the whole day in his house, had lunch as usual, he told me a lot of stories of his life and Nigerian banking. On that day, he prayed for me as I was going to start as MD of Citizens Bank. After prayers, he said to me, ‘don’t go there to steal and disgrace the banking industry represented by the CIBN.’ He said many of those the banking industry had looked up to as leading lights failed to show the light. He told me not to go and add to the number, that if I did well, ‘you will leave a good name behind.’”
As to be expected, Unegbu who has very fond memories of his idol says he has no qualms at all about Pa Otiti’s place in posterity because of his positive influence to many out there. “I have just told a short story of Baba who my entire family call my father. Any person reading this story will judge for himself, the life of this great of the greatest in life and in banking. By the special grace of God, we will continue to celebrate his life in many more years to come. May God grant you many more years Papa.”
Echoing similar sentiments, Dr. ‘Uju M. Ogubunka in his tribute had very kind words to say about Pa Otiti. Ogubunka who served as former Registrar/Chief Executive, CIBN, an institute after Pa Otiti’s heart, where he served as past president as well as Chairman of Body of Past Presidents, said attaining such old age in a country where the life expectancy is below 50 is not a mean feat.
Pa Otiti’s longevity, Ogubanku, who also doubles as President, Bank Customers Association of Nigeria, said: “Certainly, it is not by his power or might; it is by the grace of God Almighty who has been visiting him with special graces. To Him belong all the glory, honour, praise and thanksgiving. It is a pointer to Pa Otiti’s trust in God, self-discipline, simplicity of life and relationship with people around him; it is not difficult to decipher why he has been so specially blessed.”
Like Unegbu, Ogubanku knew about Pa Otiti as a very young man. “I knew Alhaji Otiti from a very long distance. I learnt of his background and roles at, among others, the Central Bank of Nigeria where he held sway as the lone-ranger Deputy Governor; the Chartered Institute of Bankers of Nigeria, which he was one of the founding fathers and President/Chairman of the Governing Council. I also learnt of his pivotal roles in the Securities and Exchange Commission and the Institute of Directors, Nigeria. He was and still remains a colossus. I admired the respect and recognition accorded him by every single person, including his contemporaries that came around and interacted with him. He became an inspiration to me,” he recalled.
Upon joining the services of the CIBN as a Director, Ogubanku said: “Papa was already long in his well deserved retirement; but he was not tired. Interacting closely with him, I found for myself why he had and is revered and respected by generations of professionals and technocrats from all walks of life. He is simple and open-minded, related freely with us; appreciated and honoured our invitations; offered profuse apologies if he could not accept to honour any invitation due to other pressing engagements; intervened with viable and sustainable solutions when critical challenges confronted the CIBN and the financial system (indeed, at very difficult times, he was available to assist in overcoming the storms); told us inspirational stories that one can only find in a well preserved archive; enquired about the welfare of our families; motivated us to go beyond the ordinary call of duty. Most importantly, he consistently prayed for our success.”
Besides CIBN, Pa Otiti also played an eminent role at the Institute of Directors and several other organisations, where he was said to have left indelible imprints and legacies.
For others like Omooba Olumuyiwa Sosanya, founding President, Association of National Accountants of Nigeria (ANAN), and Prof. Chris Onalo, Registrar/Chief Executive, Institute of Credit Administration (ICA), though they know Pa Otiti at a distance, they nonetheless see him as a motivator, inspiration and friend.
Indeed, Alhaji Amusa Oladimeji Gbadamosi Otiti, aka Baba Otiti to many, is an exemplar of excellent professional who thrived in best practises while in service, and deserves a place in the echelon of great minds and motivators that Nigeria has produced.