Africa’s richest woman and Chief Executive Officer of Rose of Sharon Foundation Mrs Folorunsho Alakija has urged the Federal Government to ensure looters of public funds are punished accordingly to halt the increasing depletion of the national treasury.
Mrs Alakija, who spoke at Rose of Sharon Foundation Youth Empowerment Seminar for some beneficiaries in Surulere, Lagos, said the government could only drive home the war against corruption by penalising fraudulent operations of economy managers.
She, however, urged the Buhari administration to build structures and policies that encourage the thriving of terrain and business development.
“We got our priorities wrong by losing all interest in agriculture and other sectors. And it is only now that we are beginning to look inwards. I believe that this particular government is doing the right things as far as tackling corruption is concerned. We must tackle corruption and when the erring ones are found, they need to be punished because the money generated in this country is ending up in the pocket of a few due to corruption, and there would continue to be corruption if they are not punished. I believe new set of corrupt people will gain confidence and continue to deplete the wealth of the country if the current ones are not punished. We have seen smaller countries generating from tourism. Dubai had little in comparison with Nigeria and they used it properly. You can see improvement in that country every six months. It’s the reverse in Nigeria. We need to put systems and policies in place that will work and the first point of call is corruption,” she said.
No fewer than 500 graduates and undergraduates were exposed to training sessions on talent development, career guidance, skill acquisitions, business grooming and market place readiness skills. The beneficiaries were recipients of the scholarship initiative for orphans and widow’s children. According to Mrs Alakija, the economy could only soar with adequate support for the next generation entrepreneurs, adding that the youth need necessary skills to solve social problems and meet emerging needs.
Addressing job seekers, she said: “You may sound like the best candidate but the very second we notice that you have told a lie, we drop you like a pack of cards. Let it be the truth, the whole truth and nothing but the truth. If you have received any kind of training apart from education, list it there. It helps the employer to decide about you. If you have received any commendations, however you have received it, highlight it.”
Alakija added that the foundation has partnered the Lagos State Empowerment Trust Fund to provide soft loans for start-ups. She identified technology and healthcare as areas of need for the foundation, saying: “You can’t say to a widower or an orphan, be thou warmed without taking an action and the practical need is to meet their needs. One of the major needs for a widow is to be able to send their children to school. So we provided scholarship for them. We empower the widows as well with funding to be able to learn a skill or even go back to school themselves. We have about 11 widows who even went to the university. We need medical partnership. They need those that can send them to the hospital to look after them when they are sick.”
Tag: Alakija
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Govt must punish corrupt Nigerians, says Alakija
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Dangote, Adenuga, Alakija, seven others on richest list
Forbes, a website renowned for ranking of richest people in the world, has made available the list of richest people in Nigeria in 2017.
In the latest release, nine others made the billionaires club to join Africa’s Richest man Aliko Dangote with a net worth of $12.5 billion. In 2014, Dangote ranked as the 24th richest man in the world but has since then fallen to positions below 100 due to Naira’s depreciating value.
Others on the rich men’s list, according to Forbes ranking, are: Gbobacom and ConOil Chairman Mike Adenuga with a net worth of $10.5 billion, with interest in oil and gas and telecoms and Zenon Oil and Gas and Forte Oil Plc Chief Executive Officer Femi Otedola, who has interest in real estates amongst other sectors with a net worth of $2.3 billion.
Also in the club are: business tycoon Mrs. Folorunsho Alakija, who has interest in fashion, oil and printing industries. Mrs Alakija, who is the richest African woman has a net worth of $2.1 billion; former Chief of Army Staff (COAS) Gen Theophilus Danjuma, who is the Chairman of Atlantic Petroleum with a net worth $1.7 billion and BUA Group Founder Abdusalam Rabiu, who has interest in sugar refining, cement production, real estate and port operations.
In September 2015, the BUA Group signed a $600 million deal with a Chinese cement equipment service provider Sinoma International Engineering to construct a second production line in Edo State. He is worth $1.5 billion.
The others are: United Bank for Africa and The Tony Elumemu Foundation Chairman Mr. Tony Elumelu. The philanthropist is worth $1.4 billion. There is also former Abia State Governor Orji Uzor Kalu. The Slok Holding founder and Chairman runs a conglomerate with interest in shipping, banking, oil, trading, manufacturing and the media. He is worth $1.1 billion.
Zenith Bank Founder and Chairman Jim Ovia is the largest shareholder with a stake of almost 10 per cent. Ovia is worth $1 billion.
The Chairman and Founder of the Honeywell Group, Oba Otudeko is said to worth $650 million. He is the chairman of FBN Holdings Plc. His operations spread across oil and gas, flour milling, real estate and marine transportation.
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Alakija plans jaw-dropping party for son’s wedding
For billionaire businesswoman Folorunsho Alakija, the days leading up to Saturday, November 19, 2016 is a very important date. That is the day her beloved son, Folarin, is billed to get married to the love of his life, Naganin Khosro, at an exquisite event scheduled for the Grand Ball Room of Oriental Hotel, Victoria Island, Lagos.
The Forbes-acclaimed richest woman in Africa is leaving no stone unturned to ensure that her son’s wedding lives up to its billing as a spectacular, jaw-dropping event. Plans are already in place to ensure the introduction and engagement ceremony at the Grand Ball Room go without a hitch. The reception which will follow immediately is sure to feature the very best of local, western and oriental dishes.
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Three die as container falls on bus in Lagos
Three persons have been confirmed dead and several two others injured after a container fell on a commercial bus in Lagos.
The incident occurred Wednesday morning at Alakija bus stop on the busy Badagry expressway.
It was gathered that a 40 feet container careying truck moving inward Badagry marked KRD526XP rammed into a commercial bus marked EPE972XH with five occupants.
The Nation learnt that the collision prompted the container to fall on the bus, killing three persons on the spot.
Two others who were trapped under the container were said to have sustained serious injuries and rushed to the hospital by emergency responders.
Confirming the incident, the General Manager, Lagos State Emergency Management Agency (LASEMA) said recovery operations were still ongoing.
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Folorunso Alakija: Here comes Nigeria’s first matriarchal chancellor
It’s Wednesday, 9th March 2016 and the Osun State University, now Bola Ige University, was a bee-hive of activities. Students, the academic community, royal fathers, politicians and dignitaries from all walks of life thronged the sprawling compound for the 4th and 5th convocation ceremonies for the award of first degrees, honorary degree presentation, as well as the investiture of Folorunso Alakija as Chancellor of the university.
At exactly 10.02 am, the procession of graduating students began and the different faculty officers took turns to coordinate the graduants from the different departments. You could feel the excitement of graduation in the air and the auditorium was filled to the brim. By 11.20 am, the Acting Vice Chancellor, Professor Oguntola Jelili Alamu, led the procession that signalled the beginning of the event. Members of the university senate, members of the governing council, the visitor, Ogbeni Rauf Adesoji Aregbesola, and guests from other universities took their seat in the gallery.
This was followed by a welcome address by Professor Obafemi Adetola. At this point, the acting vice chancellor stepped out on the podium, doffed his cap to the incoming chancellor and informed that she was also going to be conferred with a doctorate degree. “By the authority vested in me as the acting vice chancellor and in accordance with the provisions of the university statues, I confer on you an honorary degree of Doctor of Business Administration, Honoris Causa, with the rights and privileges therewith.”
The visitor to the university, His Excellency, the Executive Governor of Osun State, Ogbeni Rauf Aregbesola, then asked Alakija to pledge total allegiance throughout her tenure to uphold the university’s laws, leadership and privileges completely and perform all the functions of the chancellor.
“I promise to perform my duties faithfully and diligently as the chancellor of Osun State University,” she replied.
Aregbesola went on to talk about the reason why women must be celebrated. “Let me recognise the icons that are here. I will start with my predecessor in office, Prince Olagunsoye Oyinlola, and my deputy, Iya Aafin Titi Laoye Tomori, who went to represent me somewhere. Yesterday was an important day for women and I would come to that shortly.
“It is my joy to be the first visitor in Africa sub of the Sahara to install a woman as chancellor of a university. Today is significant because it is going to be the last day that we are going to refer to it as Osun State University. The title of my speech is New thinking of University Administration. Yesterday was great, today will be better.”
The change of guards in any institution, Gov Aregbesola said is a constant reminder of the transient nature of time. “We appreciate her for choosing to serve as a chancellor of our university, when she could easily have turned it down because of many other requests. She is a role model in the true sense of that phrase, she is the ideal woman. Well educated, intelligent, hard working, successful in her business, religiously devoted and happily married, a good mother and a lover of mankind. As a designer, she took the profession to unprecedented heights, also a top ranger in the oil business.”
He reiterated the fact that Alakija is not just the first woman to be a top player in the oil business but one of the best players, as executive chairman of Famfa Oil. “Not just a speculator. Some two years ago, MTN partnered with her foundation to build a chest clinic, brought state-of-the-art equipment to us. That was when I heard of her in real terms and I told myself that something would make me recognise this lady. That was last year, and I didn’t know that the Ooni would pass on and when the passage of that eminent royalty happened and we had to reflect on who was qualified, without a doubt, her name just featured.”
A trumpet heralded a new dawn, screams, shouts of joy, applauses rented the air as she put on the academic robe transiting from Mrs. Alakija to Dr Alakija. Just before sitting down, she planted a kiss on the lips of her husband, Modupe Alakija, who was all smiles.
From that point, the chancellor who has a five-year tenure was invited to preside over the assembly and address the convocation. She began with a story of what she captured as her Cinderella years, doing a flashback to life as a 7-year-old girl who was taken to a snowy country with little or no direction but struggled to the top against the odds. “Many doors were shut in my face but I kept going back and it paid off. It is important to be determined, there is always a way. Time is money, use it wisely. Say no to corruption, find mentoring, exercise patience and have courage.”
While admonishing Nigerian women to improve on their education, she asked the audience to join her as she sang “Bata mi a dun ko ko ka” (meaning my shoes would sound smart like an educated person).
“My watchword is,” she said is “Let the sky be your stepping stone.” She added these two additions to her crowded caps mean a lot. Her words: “I have had four other honorary doctorate awards, not that this one is less important. But it is the first from a public university in the whole of Nigeria and I think I heard the governor say south of the Sahara. But to God be the glory, elevation does not come from man, it comes from God. God ministers to people and gets them to act on issues and His desire. I guess I am walking in God’s purpose and it is not something that I orchestrated. I believe it is the Lord’s doing and it is marvellous in my sight.”
The event which came a day after the International Women’s Day also made it memorable for the Amazon. “I am very happy to be a woman, especially at this time. I won’t say the next day because the convocation ceremony actually started yesterday and it’s culminated in today’s event and it’s an honour really. And I didn’t see any reason not to accept when I got my husband’s approval.”
The award which is in line with her prowess for entrepreneurship, Alakija said would make her do more and she used the opportunity to advise young entrepreneurs to be hardworking, dedicated and diligent. “I love entrepreneurship. I love buying and trading. My advice for young people is to make sure that money goes a long way, investing it and getting value for your money, making sure that both parties are happy. That is what trade is about. You get what you want, I get what I want and the world goes round. Everybody is happy and we continue to improve and impact on the world completely, as we grow industries, as we grow our businesses, impact on our world by expanding its scope. When you can make a thousand, ten thousand, even as the Bible says, you know what the multiplication effect is, fruitfulness and multiplication.”
Peter Oluwatobiloba Daniel, the best graduating student with a G.PA of 4.81, gave a valedictory speech tagged Never stop trying. In it, he talked about his inspiration to excel, urging others to try and try again instead of giving up in the face of challenges.
You also find other students seated under the canopy outside while a handful could be seen milling around a big banner placed at the entrance of the auditorium by the Osun State Chapter of Africa’s Young Entrepreneurs Student Association (AYESA) welcoming the New Chancellor who also doubles as their chief executive matron.
For Anuoluwapo Olasukanmi, a graduant of the Industrial Chemistry Department, “It’s a great idea that a woman is coming in as chancellor of the university. I believe that she would be able to do more and see things that the men won’t see. A lot of us are excited and I came all the way from Zamfara where I am currently on Youth Service.”
Like Olasukanmi, Bukola Arigbede, a graduate of Mathematics, talked about her expectations of the new chancellor. “I have read a lot about her and she is my role model. I am serving in Abeokuta and I would say that I came for the event because of the great admiration that I have for her.”
The Osun State University was licensed by the National Universities Commission on 21sth December, 2006 as the 30th state university and the 80th university in Nigeria.
The vision is: ‘To be a centre of excellence, providing high quality teaching and learning experiences, which will engender the production of entrepreneurial graduates capable of impacting positively on their environment while being globally competitive.’
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Alakija appointed Osun Varsity’s chancellor
Osun State Governor Rauf Aregbesola has appointed the third richest woman of African descent in the world, Mrs. Folorunso Alakija, as the Chancellor of Osun State University, Osogbo.
A statement by the Director of the Bureau of Communication and Strategy, Office of the Governor, Mr. Semiu Okanlawon, said the five-year appointment takes immediate effect.
The statement noted that Statute 3(1) (a) and Statute 5 of the Osun State University Law (2006) provides that the university shall have a chancellor, who shall, in relation to the university, take precedence before all other members of the university and, when he is present, shall preside at all meetings of Convocation held for conferring degrees, diplomas, certificates and other awards.
Congratulating of the new chancellor, Aregbesola noted that Mrs. Alakija’s antecedent and virtues as a God-fearing woman, a person of honour, integrity and a successful business woman would impact positively on the running of Osun State University.
The governor said the government would look forward to a great working relationship with the new chancellor as she leads the university to greater heights.
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Alakija honoured at JCI 100th anniversary
Africa’s second richest woman and philanthropist, Folorunsho Alakija, has been honoured for her outstanding service to humanity at the Junior Chamber International (JCI) 100th anniversary in Kanazawa, Japan.
The businesswoman also recently bagged a honorary doctorate degree of Humanities from the University of Uyo, Akwa Ibom at the institution’s 21st convocation ceremony.
With presence in 123 countries around the world and 200,000 active members, the JCI, a membership-based, non-profit organisation of young active citizens, ranks as the largest young people organisation in the world.
In Nigeria, the JCI has 51 professional chapters spread across various cities in the country and institutional chapters in 60 universities, polytechnics and colleges of Education.
Meanwhile for the first time, a Nigerian, Pascal Obinna Dike, has emerged the 2016 JCI World President.
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Another honour for Folorunso Alakija
Billionaire businesswoman, Folorunso Alakija, redefined the status of Nigerian women years ago when she became one of the wealthiest, most influential and powerful women in Africa. She personifies success and has built a firm foundation from the bricks others have thrown at her. Alakija exudes confidence and has dared to be different in all her dealings.
On Saturday October 31, the phenomenal woman recorded another milestone when she was conferred with Doctor of Humanities at the University of Uyo. She considered it a big honour and did not hesitate to congratulate all graduating students at the university’s 21st convocation ceremony.
Her exemplary life serves as an inspiration to millions of youths in the country, while her presence at the ceremony must have inspired many to toe her path.
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Alakija transforms Molue into mobile art
Until eight days ago, an old Mercedes Benz 911 bus popularly known as Molue with yellow and blue strips was a regular sight on some routes in Lagos. With a School Boy tag atop its front roof, the all-metal bus conveyed commuters most times, leaving behind memories of the hustle and bustle of Lagos.
Last Saturday, after the unveiling at Quintessence, School Boy transformed into a mobile art for some select art enthusiasts in Lagos courtesy of Polly Alakija, a United Kingdom (UK) based artist who turned the bus into an object of painting. The following day, it was driven round some roads in Lagos starting from Park View Estate in Ikoyi, to raise awareness for the fundraising in support of the Ebunoluwa Foundation’s Eruobodo Home for Special Children in Ijebu Ode, Ogun State.
The project is a collaboration between Quintessence and Alakija and the art work on the Molue will be used to form a series of limited edition prints by the artist.
Promasidor Plc Managing Director Mr Keith Richard was the compere at the event that attracted art enthusiasts, such as Chief Rasheed Gbadamosi, Aduke Gomez, Oti Bazunu, Alan and Ekaba Davies, Bukola Oye, Victor Ehikhamenor, Goethe Institut Director, Mac-Andre Schmachtel, Wilfred Ukpong, Bisi Silva and other members of Lagos Jazz Series, We Love Lagos team, who are lead supporters.
According to Alakija, the series has included other iconic painted objects such as VW Beetle car, a Tricycle (Keke NAPEP), a water tanker and a Bedford truck. She said some percentage of the profits on sales would go to Eruobodo Home for Special Children.
“The Molue is instantly associated with the hustle, bustle and vibes of Lagos reflected so well through music and the intrinsic need to dance. Our Molue depicts Sina Apaye’s Parkhood Dancers who he trains every evening in Freedom Park, Lagos
This park on the site of former colonial prison is the venue for able bodied people to enjoy their own good health and vitality. We have the freedom of movement. For some, their body is a prison,” Alakija said at the ceremony.
She added that the prints would be enriched with excerpts from Olasupo Shasore’s book, Possessed as background to the Molue image in the limited print of 25.
Expectedly, Alakija dwells on the yellow and colour in Aso-oke format while the Osa Straight tag at the tail end of the bus reminds viewers of the route as well as the unfortunate accident that claimed lives when a Molue plunged into Lagoon few years ago. The black lines depict leather strings of the talking drum while School Boy remains the central figure of the mobile art.
Beyond fund raising, the project is another means of documenting history, particularly the mode of transportation in Lagos.
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Fashola, Alakija harp on role of education in nation-building
LAGOS State governor, Babatunde Fashola and Africa’s richest woman, Mrs. Modupe Alakija, have both emphasised the role of education in nation-building, saying there is need for huge investment in education to accelerate development. The duo spoke on Thursday at the commissioning of the ultra-modern block of 18 classrooms at Alice Ogbara Memorial Junior Secondary School at Sabo Oniba in Ojo area of the state, donated by the philanthropist to the state government. Speaking at the occasion, Fashola who also commissioned the Ebute Ojo and Ijegun Egba jetties and two blocks of classrooms at Iba Housing Estate Senior Secondary, also in the Ojo axis of the state, said his administration is committed to educational excellence. Fashola said education remained the most important currency in the world, urging well-meaning individuals and corporate organisations to emulate the Alakijas’s support for education in the country. He said, “Private sector participation in educational development is required to raise the standard of education. Let parents, leaders of the communities show more commitment to education.” The governor said the state government’s huge investment in education has enhanced the quality of education in the state, saying performance of students in the West Africa School Certificate Examination has improved from ten percent to forty-one percent. Earlier, Mrs. Modupe Alakija said the ultra modern Alice Ogbara Memorial Junior Secondary School was donated by the family to the state government to revamp education in the state.