Tag: Banker

  • Pastor, banker, musician battle for Edo Govt. House

    Pastor, banker, musician battle for Edo Govt. House

    The stage is set for the governorship election in Edo State. The All Progressives Congress (APC), the Peoples Democratic Party (PDP) and the United Peoples Party (UPP) are the major parties. Correspondent OSAGIE OTABOR writes on the three-horse race.

    Who occupies Osadebey Avenue, the seat of power in Edo State, after the expiration of Governor Adams Oshiomhole’ tenure in November 12? Three political parties have picked their flag bearers in primaries that were free, fair and transparent. It is now up to the people to decide the candidates that would get the plum job.

    The parties that have elected their candidates are the United Progressive Party (UPP), the Peoples Democratic party (PDP) and the All Progressives Congress (APC), which  picked Shedrack Nowamagbe, Pastor Osagie Ize-Iyamu and Godwin Obaseki respectively.

    According to the Edo State Resident Electoral Commissioner (REC), Sam Olumekun, nine political parties had indicated interest in the September 10 election.

    But, the UPP, the PDP and the APC appear to be the main contenders. The other parties are said to be waiting for aggrieved aspirants to run on their platforms.

    The three candidates are men who claim to have excelled in their chosen careers and professions. Nowamagbe is a musician, Ize-Iyamu is a pastor, and Obaseki is a financial expert. It is, however, up to the electorate to decide whether the musician, the pastor or the financial expert will be their governor.

    The candidates would have to rely on the structures of their parties across the state. none of them has contested for elective position before. They are marketing themselves to the electorate for the first time. Nowamagbe is the only candidate that has not worked with any ruling party or government before. Both Ize-Iyamu and Obaseki are seen as the brain behind the successes and failures of the different administrations they served. Their parents were palace chiefs that served the Oba of Benin at different era. Nowamagbe is of low parentage. Obaseki and Pastor Ize-Iyamu are graduates of prestigious universities and Nowamagbe attended a secondary school.

     

    Pastor Osagie Ize-Iyamu

    He rose to prominence when he served as the Secretary to the Edo State Government under former Governor Lucky Igbinedion. Before he was appointed as the SSG, Pastor Ize-Iyamu served as the Chief of Staff. Many said he was the engine-room of the Igbinedion administration. He studies law at the University of Benin. He was called to Nigerian Bar in 1987.

    According to his profile published online, Pastor Ize-Iyamu gave his life to the service of God in 1985 when he was miraculously healed after a fatal accident. He joined the Redeemed Christian Church of God (RCCG), and in 1998. He was made a Pastor of the Upper Room Parish on Adesuwa Road, G.R.A, Benin City.

    He is today the District Pastor, in charge of the zonal, area and parishes of the RCCG in Edo State and the Provincial Regional Headquarters in Benin City. Ize-Iyamu is the only politician among the three candidates. Apart from his records of political appointments,  there is nothing in the profile about his past working experience. He established the I.O farms. He has said that he should not be held responsible for the failure of what is now regarded as the years of the locust in Edo State. Ize-Iyamu started nursing the ambition to rule the state during the Igbinedion administration.

     

    Godwin Obaseki

    Very little was known of him until his name propped up as the anointed candidate even though he had worked with Governor Oshiomhole. Obaseki served as the Chairman of the Edo State Economic Team, a position he held since 2008.

    He attended the University of Ibadan where he obtained a BA in Classics and proceeded to the Columbia University and Pace University in New York where he obtained an MBA in Finance and International Business. He is also a Fellow of the Chartered Institute of Stock Brokers, Nigeria and an alumnus of the Lagos Business School Chief Executive Programme. Obaseki’s career in Investment Banking, Asset Management, Securities Trading and the Public Sector spanned over 30 years. He took off as stockbroker in 1983 with Capital Trust Brokers Limited, Lagos before joining the International Merchant Bank (an affiliate of First Chicago Bank). In 1988, he joined AVC Funds Limited, Lagos, where he was a Project Manager and led the core team that set up two of the new generation banks. Between 1993 and 1995, he worked in New York as a principal of Equatorial Finance Co, a financial advisory firm with a focus on Africa and providing Structured Trade Finance for African related transactions through credit, financial advisory and risk insurance.

    He founded Afrinvest West Africa Limited in 1995 before working with the Edo State Government. The successes of the Oshiomhole administration is largely due to Obaseki’s expertise in financial matters – it is widely believed.

     

    Shedrack Nowamagbe

    He tagged himself the ‘masses chairman’. Nowamagbe is a social critic and a household name in the music industry. He became famous when he drew attention to the failings of government through music, especially during the Igbinedion administration. Nowamagbe was once beaten when he took canoe to the Dumez junction to shoot music on the flooding in the area. He was not a member of any political party before, but he has made the UPP popular in the state. About 400 delegates participated in the party’s primary that saw the emergence of Nowamagbe as the flag bearer. He struggled through thick and thin to establish himself in the music industry.  His mother died when he was 12 days old and his father died when he was 12 years. Unlike his contenders that were born and bred in Benin City, Nowamagbe was a farmer and a rubber tapper in his Ugha village and he learned music from his in-law. It was an antelope he sold for N220 that  he used to get freedom from his master in 1990.

    The UPP candidate said: “I am happy with everything I made through music. I am proud to be a musician. I did music till I became a professor like other professors in various fields. Music gives inspiration you will not understand because it is controlled by a certain spirit. There is a spirit that controls music, especially if you are born to be a musician. There must be an angel that controls you and give you pattern. I started with calypso and I became a social critic, which made some people not to like me. but, I didn’t care because I was looking up to God. That was why God came now to say I should go and put smiles on the faces of the people. I said how? He said I should declare myself the next governor of Edo State. God has given me all it takes to be the governor of Edo.”

    On how he hoped to contend with political heavy weights, Nowamagbe said: “You call them heavy weights, but they are political recyclers. They have squeezed themselves into one party like cockroaches. If they are heavy weights, they should go to Abuja, bring a new party and make it popular like I did. If they know they have a name, they could have joined other political parties. Some of them have stolen money to spend. They should sponsor a new party and make it popular. Many of them have the tendency to squander our money and they want to come and do it again. I am coming to shift the focus.”

  • Stylish banker Kennedy Uzoka

    As generations come and go, it is important to admire how the end of one era signifies the beginning of another. Hence when Kennedy Uzoka was tipped to succeed Philip Oduoza as the Group Managing Director (GMD) of the United Bank of Africa (UBA), he knew that a new era was about to begin in his life and career, just as that of Oduoza ended. Kennedy Uzoka was thus thrust into the vortex of history but he does not intend to get consumed by it. Rather than ease into his newfound role as United Bank of Africa (UBA)’s head honcho without colour or verve, he has decided to savour the moment and its privileges while it lasts.

    If there are many ways to describe the hard working banker, ‘boring’ is certainly not one of them. More than most men, he understands the importance of looking good and he never disappoints when it comes to making colourful fashion statements. The new UBA boss is known for his impeccable taste in fashion just as he is known for his invincibleness when it comes to competition in the business world.

    Like the beautiful bride, he is courted by everyone, so much so that he now has more friends than he ever anticipated. As bees to honey, Uzoka now attracts hordes of favour seekers who are ready to do the bidding of the new UBA boss.

  • Agbaje is African Banker of the Year

    Agbaje is African Banker of the Year

    Guaranty Trust Bank Plc Managing Director/CEO Segun Agbaje has been named the African Banker of the Year during the 2016 African Banker’s Awards, which took place on the sidelines of the African Development Bank (AfDB) annual meeting in Lusaka, Zambia.

    Now in its 10th year, The African Banker Awards is internationally recognised as the landmark finance event to reward achievements, commend best practices and celebrate excellence in African banking. The award provides a platform to bring together industry leaders from across Africa and celebrate the achievements of those driving economic growth in Africa.

    Speaking at the exclusive Gala Dinner attended by over 400 financiers, business leaders, and influential personalities and policy makers, Omar Ben Yedder, Group Publisher of African Banker Magazine said: “Over the years, I have been privileged to honour some truly exceptional individuals, who have left an indelible mark on the industry.

    Today, we honour a man, Segun Agbaje, who has redefined the African Banking landscape and built an institution that is Proudly African and Truly International. Since assuming office in 2011, Agbaje has led the bank to become one of the most profitable banks in Africa with a well defined CSR strategy that continues to give back to its host communities through its many philanthropy initiatives.

    Agbaje said: “I am humbled and happy to be recognised as the African Banker of the Year.”

  • Two more suspects held for ‘swindling’  banker of N3m

    Two more suspects held for ‘swindling’ banker of N3m

    •‘How we dupe victims’

    Two other members of a gang, which swindled a banker of N3million under the pretence of making money rituals for him, have been arrested by Rapid Response Squad (RRS) operatives.

    Their arrest followed the parade of the first suspect, Seye Olowofokunbi, 33, at the Police Command Headquarters in Ikeja, Lagos last Tuesday.

    Seun Nurudeen, 27, and Azeez Hassan, 32, were arrested in Ijebu-Igbo, Ogun State, last Thursday.

    Nurudeen told The Nation that the gang “exploits the greed of people who approach us for money rituals”.

    Nurudeen said he acted as “unseen deity,” whose voice sounded like an aged woman, adding that Wasiu Talabi (a.k.a Araba), who is at large, disguised as the 90-year-old intermediary between the “deity” and humans.

    Demonstrating how he mimicked the deity, Nurudeen said he was amused each time some of their victims came to thank God for doing “wonders”.

    He said: “The thing is that we do not do anything. We just work on their mindset. The victims contributed to it. They are impatient and want to get fast money. They are the ones who usually ask us to introduce them to ritualists.

    “I was selling Agbo and the Agbo was very genuine. We decided to start fooling them to collect their money so that they won’t take it elsewhere or even contact real ritualists.

    “I have been with them for over 18 months. As the deity, my share is 10 percent of every money collected. At times, we collect a million or even more at once.

    “We decorated the shrine and made it look real. We stuck snail shells on clay and put them on a tree. Then, pieces of clothes, different colours are used to decorate the place we use as shrine. Our customers do not know that there is another room behind, separated by the black clothe, which is where I hide and speak like a spirit (old woman).”

    Nurudeen said the banker sought their help in having a flourishing studio.

    The suspect said the banker  denied having any money when he had $5,000 on him, adding: “We told him that we needed N200,000 to buy peacock, hawk and pigeon to perform the ritual for him and that a small box with a black soap, calabash and other things will be prepared and given to him. That the money he came with will be locked inside the box containing the special soap which he must not open until after 48 hours.

    “Although the money was put before his eyes and he was the one who locked the box, he did not know that I removed it from where I was hiding. He did not know the box he took in was empty.

    “After 48 hours, he called to find out if he can open the box but he was told that another eye has seen the box and the charm has been violated. That he should not touch it but throw it away, otherwise, he will die. We told him to throw the box away and come to Ijebu-Igbo for the cleansing.

    “He agreed and came. In the cause of the cleansing, Araba put one of his hands inside an empty calabash and stirred it. As he was stirring, I dropped all the dollar bills we have earlier removed from the box without the client’s knowledge and he believed that we truly called the money from the box he threw away in Lagos.

    “We now told him that he will have to bring another $5000 and also bring money to buy items for another sacrifice to save his life. We told him to bring them within five days or he will die. This time, he brought N1.150 million and also N200,000 for the sacrifice. That’s how the money became N3 million.

    “After collecting the money, we told him to come after three days because the Baba was going for a trip. It was within those three days that he called Olowofokunbi that he wanted to bring more money to add to it since we said he will get times two of the amount he put in the box. But he came with police and arrested him. We were arrested after Olowofokunbi brought police to our homes.”

    Hassan denied any role in the case, saying he belongs to another syndicate where he receives 40 percent of whatever is made.

    “I do not belong to the same group as they. They work with my uncle, Araba. I have my own group and I am the leader. I have been in this business for over two years now. I have made some money but I haven’t been prudent in spending. I cannot even say one tangible thing I have done with the money.

    “I do not know if it is all those we have fooled that cursed me because I have no business with this case. I was arrested around 3am in my late mother’s house. The police came looking for Araba, they did not find him and they caught me,” he said.

     

  • Family buries Nigerian banker ‘murdered’ in Liberia, calls for Justice

    Amid tears,the remains of a Nigerian banker, Daniel Orogun, who died in Liberia was at the weekend interred at the Ikoyi Vaults, Lagos.
    Orogun who was Managing Director (MD) of Guarantee Trust Bank’s (GTB) Liberia branch was said to have drowned in a Liberia river on January 24, while on a boat cruise with his wife, three children as well as a bank customer, George Kailondo who invited them for dinner and three others.
    But Orogun’s family who spoke last Thursday for the first time since he died, said the deceased was murdered by Kailondo and his accomplice identified as Michael.
    They want the federal government to prevail on its Liberian counterpart to ensure justice was served, insisting that Kailondo had motives to kill the deceased.
    The spokesperson for the family, Pastor Felix Orogun who stated their position, described as untrue, reports that the deceased was celebrating his wedding anniversary when he fell into the water and drowned.
    Pastor Orogun said the family took time to investigate the circumstances that led to the death of his younger brother, adding that it was a clear case of murder.
    “It is not true that my brother was celebrating his wedding anniversary when he drowned in the water. Besides, my brother was a very good swimmer and there was no way he would have drowned in that water which is calmer than the Lagos lagoon.
    “I was in Liberia for two weeks investigating my brother’s death. And the true position is that George Kailondo had a motive to kill him. He wanted to float an airline across the west coast (Kailondo airline), and wanted the bank (GTB) to fund it.
    “But my brother refused because after investigation by an aviation expert, it was discovered that Kailondo was not ready to float an airline. Because he had gone on air to say he was starting an airline and my brother told him the things he needed to do before the bank will fund the project, he saw my brother as a stumbling block.
    “It was not the first time he invited him for dinner. He has been inviting him since last year but my brother never honoured it. He was to go last November but as he was about to enter his car, the door accidentally chopped off his thump and he was flown to Ghana for surgery. Maybe, that was the day he would have been dead.
    “But this time around, Kailondo invited my brother and his family for dinner. It was a Sunday and by the time he returned home after church service, he received three phone calls in quick succession from Kailondo on the invitation.
    “My brother reluctantly told his wife, Isioma of the need to honour the invitation from Kailondo, a major customer of the bank. He was reluctant because he does not like missing football matches involving Arsenal and the team was to play with Chelsea that day.
    “So, he phoned a friend of his to keep him informed of developments in the match, and then he took a bottle of wine and some soft drinks for the children to Kailondo’s place. On getting to the host’s house, the man offered them drink, but Daniel went to his vehicle and brought the drinks he had brought from home.
    “Kailondo then suggested that they should go for a boat ride so that by the time they returned, dinner would be ready. He took them to the boat, Daniel and his children first entered. His wife was a bit sceptical at first, but eventually entered, not wanting to stay away from her family.
    “They all entered the boat only to discover that there was no life jacket. In the boat that was steered by Kailondo, Daniel’s wife said there were two other men seated at the rear. There was also a diver named Micheal, who was following them on Jet Skii.
    “Isioma said she demanded for life jacket and other safety procedure before the boat drove off but they were assured there was no cause for alarm as expirienced divers were with them.”
    Continuing, Pastor Orogun said his brother’s wife disclosed that the journey was smooth until Kailondo suggested that they go into the high sea, which she and her late husband refused.
    “They then stopped, relaxed and were chatting while Dan was responding to news on football game going on through his phone. Music was on in the boat. Dan was on the back seat. Kailondo emptied part of his whiskey into Dan’s cup but my brother saw him and reminded him that it was his own cup, at which point his wife took it away to prevent him from drinking from it.
    “While everyone was relaxed, Kailondo was dancing and watching Dan who was busy on his phone. Then, unexpectedly, Kailondo started the engine with high speed and made an almost 360 degrees turn anti-clockwise. The children and Isioma lost balance and fell inside the boat, while Dan was thrown inside the river. But the two young men who were at the nose of boat did not fall. It shows they were prepared for the move.
    “Before this happened, Micheal, the diver who was following them on Jet Skii and and displaying some acrobatics had disappeared. The young men who Kailondo had also said were divers did not make any attempt to save Dan.
    “Instead of Kailondo to stop after realising that Dan was in the water, he rode for few minutes even as Isioma and the children were screaming that they should stop and rescue him or throw a rope towards Dan who was already swimming in the boat’s direction.
    “Isioma was fighting hard to prevent their young children who wanted to jump into the river to help Dan and at the same time, begging Kailondo and the other men to assist her husband by throwing the rescue rope to him but they all refused.
    “At this point, the wife who sensed foul play, started making telephone calls to other boat owners they know, to come and help her husband. When Kailondo saw what was happening, he reluctantly removed his shirt, jumped into the river, swam towards Dan and held him from behind, apparently to incapacitate him.
    “The next thing my brother’s wife and children noticed was that both men sank, they were under water for sometime and later Kailondo came out of the water from another side without Dan. Shortly after, the said Jet Skii diver, Micheal, resurfaced from another end of the water too. But Dan was not seen again.
    “At this time, those Isioma called with her telephone, including some members of the United Nations Peace Keeping corps in Liberia had arrived and were looking for Dan. Isioma challenged Kailondo before them and told them that he took her husband under water but he claimed that a force pulled Dan down, that he saw blood and that the river was boiling so he left Dan and fled. He claimed it was witchcraft and that Dan was gone,” he said.
    The family wondered where Micheal was while the incident lasted? Why Kailondo refused all appeal to throw the rescue rope to Dan who was swimming towards the boat, but instead went into the water and held him from the back with his hands clipped to his body to prevent him from swimming?
    It accused Kailondo of plotting the death of their brother as well as motive to kill his wife and children to erase all suspicion.
    It described the reappearance of Michael, shortly after Kailondo came out of the water as “no coincidence”, just as they expressed fears of getting justice since Liberia’s chief of Police was Kailondo’s in law.
    “While we are grateful to the Liberian government for the actions they have taken since they came into the picture, I want to appeal to the Director, Liberia’s National Police, Clarence Massquol to not allow his family ties with George Kailondo affect justice in the case. The suspects ought to have been in police custody, not to be roaming the streets of Monrovia with impunity.
    “We are also appealing to the Nigerian government to take steps to ensure that the death of its citizen under suspicious circumstances is not thrown under the carpet. We believed perhaps the death of our brother has not been taken seriously by Nigeria because of the ineffectiveness of the Nigeria mission in Monrovia following the recall of the former High Commissioner.
    “We are willing to drag this matter to the International Criminal Court (ICC) to get justice for our brother.
    “We are also appealing to the bank to consider giving all his four children scholarship to the university level, since he dedicated over 24 years of his life in their service and was a committed employee,” said Pastor Orogun.
    According to Pastor Orogun, the suspect ‘s plan to kill the banker and his family could not materialise because of the rescue teams that were called by his wife Isioma, adding that Michael acted as his accomplice in Dan’s murder.
    “Our position is that Kailondo never knew Dan was a good swimmer. This fact complicated his plan of killing Dan and his entire family, as well as made his intention of inviting the entire family clear. Another thing he did not know was that Dan did not drink the whiskey he poured into his cup to get him drunk.
    “We are aware that George Kailondo has been sponsoring all the lies that were being fed to the Liberia press. I must put on record that Daniel knew how to swim; he did not go to Kailondo’s house to celebrate any wedding anniversary but himself and his family were invited by George Kailondo.
    “In his desperation to cover up his evil, Kailondo has gone to put life jackets in his boat. We know that he is desperate to escape justice, but he is under a divine woe and judgment already.
    “This incident happened less than half nautical mile from Kailondo’s compound. While rescue efforts were still ongoing at about 8:30pm, Kailondo went to bed and told some of the rescuers that my brother was gone.
    “It is also curious that all efforts to find Daniel under water that day failed. It was until the morning of the third day that his body resurfaced at the very place it all happened. The clothe he was wearing, which I saw at the murtuary had mud stains, not white sand.

  • Adelabu: Quintessential banker, role model

    I was surfing the Internet for names of successful people who attended University of Ife (now Obafemi Awolowo University), Ile-Ife) when I stumbled on his name. I did not know he had any relationship with late Chief Adegoke Adelabu, better known as Penkelemesi in pre-independence era. It was exciting, however, to discover that he is one of the grandsons of the late politician.

    For someone like me who has always been interested in youth development, it was a dream come true. Over the years, Oyo State has carved a niche for itself as a home where the brightest minds are born to advance the cause of human progress.

    At most conferences and fora, I have been incredibly captivated by the intimidating credentials brandished by speakers. But I become deeply disappointed each time it turns out that such luminaries are not from Oyo state. Some people had wondered what might have caused this obsession. Some people even label me as fanatic owing to my admiration for the state of my birth. But what many have failed to realise is the fact that I love to be motivated by the achievements of young people, especially when they are from my state. That’s the same fervour that inspired my admiration for Adelabu.

    Born on September 28, 1970 in Ibadan, young Bayo attended Lagelu Grammar School, Ibadan before proceeding to the prestigious OAU to study Accountancy. Just like his late grandfather who scored firsts in virtually everything he laid his hands on, Bayo graduated with a first class honours in 1992 and proceeded to pass his final qualifying examinations of the Institute of Chartered Accountants of Nigeria (ICAN).

    In his centenary posthumous birthday celebration, Oyo State Governor, Abiola Ajimobi was quoted as saying: “Today, we have not come to celebrate only his academic prowess alone. Though, one of his immediate juniors at Government College, Ibadan, himself an erudite scholar, Professor Saburi Biobaku, had said in his book,When we were Young that Adegoke Adelabu was the brightest student that Government College has ever produced or is ever likely to produce”.  His activities as a grown up and his evolved political philosophy did not only threaten, but actually culminated in the abrupt termination of promotion of British colonial interests.”

    For seven years, he worked with PriceWaterhouse (now PricewaterhouseCoopers), an international firm of chartered accountants and management consultants where he earlier had his professional training. After leading and managing various audit and consultancy engagements for large banks and other financial institutions within and outside Nigeria, he was also on secondment to the CBN for one year in 1999 where he led the finance team on the CBN re-engineering and corporate renewal project. In 2000, he left the firm as an audit manager and senior consultant to join First Atlantic Bank as the Financial Controller and Group Head of Risk Management and Controls. He also held other positions while in First Atlantic Bank, including the Chief Inspector of the bank (2002) and Group head of National Public Sector Business (2003).

    Before he was appointed as executive director of First Bank, he was the bank’s Chief Financial Officer. His choice, according to the bank’s Group Managing Director/Chief Executive Officer, Mr. Bisi Onasanya, was informed by the need to enhance the capacity of the executive management and board. This, he added, was also to deepen specialisation and strengthen the corporate governance culture of the bank.

    A member of Ikoyi Club 1938, Jericho Businessmen Club and Ibadan Golf Club, the youthful banker once told a reporter that he would be bringing to the table initiatives that would rapidly propel the central bank to dizzying heights.

    Pledging to pursue a philosophy of productivity to achieve the desired result for the bank, he noted: “I don’t believe so much in activities. It’s more about productivity. I do more of the work than the talk. I don’t believe that we should talk too much. If you have a job to do, do it well and everyone will see that it is a success.’’

    The unassuming man who likes doing his things without playing to the gallery said his coming to the CBN as deputy governor was timely as several key decision makers around the world were within the 40s and 50s age bracket. Expressing confidence in the vibrancy and energy associated with that age bracket, even critics agreed that his experiences garnered over the years would manifest in the discharge of his duties.

    Apart from being a member of many local, national and international associations, he has been bestowed many awards for his immense contribution to societal progress. Some of his accolades include the distinguished Fellow Award of Central Council of Ibadan Indigenes (CCII) in 2010 and a Chieftaincy title of Agbaakin Parakoyi of Ibadanland conferred on him by the Olubadan of Ibadanland, Oba Samuel Odulana OdugadeI.

    These many achievements of the Ibadan-born banker serve as good motivation for the youth of Nigeria, especially Oyo State. Despite his rich background, his grandfather did not allow the aura of wealth to fool him. He motivated the young boy to put his feet on ground and write his own story.

    A silent achiever, Bayo is a staunch apostle of grassroots empowerment as a bottom-up approach to building a truly cohesive society. Despite his demanding schedules, Bayo has not allowed the pressure of work to distance him from his Ibadan roots.

    • Sikiru, a Corps member, NYSC Ibadan
  • ‘I poured my frustration as banker into writing’

    ‘I poured my frustration as banker into writing’

    After 13 years in the financial sector, Chinyere Vivian Obi-Obasi walked away from it all. Motivated by her passion, Mrs Obi-Obasi, a lawyer, anchored her career on the shoreline of creative writing. This 2011 Nigeria Liquefied Natural Gas (NLNG) Literature Prize finalist has co-founded Grower Literature, a publishing outfit. She is advocating parents-driven involvement in promoting reading. With Evelyn Osagie, she shares her thoughts and motivation.

    Writing is a gift. It has been fun writing books and stories and being appreciated by those who read them. My mother introduced me early into the world of creative writing. In promoting my creativity, she spent a lot of money buying novels for me. My mother used to buy us as much as 10 books; and they were relatively cheap. She would give us money to buy books ourselves and exchange with friends when we were done  with reading.  She also encouraged my writing then. All these helped me to become the writer I am today.

    I have always been writing. I started writing bit by bit from secondary school. Up till while I was studying English, and later Law, I kept on writing. After my second degree, I sent a complete manuscript to a publishing company: they neither acknowledged nor published it. I finished law school and concentrated on my law practice. And it was not until 2001 when I got into the bank that I picked up writing again to fill up those nights that I used to prepare my submissions.

    The high point of my writing career, which gave me a lot of joy, was in 2011 when I got to the finals of Nigeria Liquefied Natural Gas Literature Prize competition. I have published three children’s books, The Brave Driver, The Faithful Dog and The Great Ponds, while my short stories have been featured in newspapers/anthologies (Camouflage) and (Eko O nibaje). My book, The Great Ponds, was shortlisted for 2011 NLNG Literature Prize. That same year my book, The Change, won the ANA/Lantern Prize. I am the current National Financial Secretary for the Association of Nigerian Authors (ANA).

     

    My voyage into banking

     

    It was a very difficult situation. I spent about 13 years working in the banking sector. I worked in the bank up till last year August when I resigned to concentrate and go into writing full-time and on my writing other allied professions, such as public speaking and script-writing.

    Banking job is not something most people just wake up and want to do. Sometimes, it is the Nigerian situation that forces them into it. Banking job is attractive and so you come with your talents and gifts; but when you get there you find out that this is not what I am supposed to do. But what do you do, you have family responsibilities and friends depending on you. In fact, bankers don’t spend most of the money they make; it goes to the public because you don’t even have time to go to the market or enjoy or relax. And I intend to do a book that I call Banking Exposed.

    Another terrible thing about banking job is that it is not like most careers. For example, a teacher can leave teaching  profession, chances are that he/she would open a school or set up a centre or something related to it. A journalist can you leave journalism and establish his/her own paper or run an online paper; and it is same with a medical doctor. But it is not so with banking. To set up even a community bank is not a tea party. So you would see a banker who, after leaving, goes into an entirely different career that has nothing to do with banking. So it doesn’t matter if you’ve spent 20 years. Yes, there are things I know about how the bank works that the ordinary person doesn’t, but what else.

     

    Mixing banking and writing

     

    While in banking, I already had a good writing culture, so I wrote every night.Just like I did during my school days, I wrote every night from 2am till early hours of the morning without fail, including Saturdays and Sundays. While I was working in the bank, then, there were lots of frustration: long working hours and all that. When I came back home, I’d pour that frustration into my writing. Writing was like an escape for me and a lovely experience.

    I would have left banking a long time ago but I didn’t have a clear vision of what I was going to do. I knew I’d leave there and write someday; but I wasn’t sure about what I wanted to do to put food on my table. I wanted to own a bookshop but there was the danger of not running the bookshop by myself. So, I left last August when I got a clear vision of what I was going to do. I have no regrets. With Kenechi Uzor, we have floated a publishing house for children, Grower Literature. We currently have three books on our label. This is beside the other things I  now do, such as public speaking, stand-up comedy and acting.

     

    Eking out a living off my creative works

     

    I don’t because sadly, your books must be sold first and not so many get sold except when I get bulk purchases like when Julius Berger took me on a tour in certain cities and bought hundreds of my titles or when schools purchase the books in bulk. Writing is something that would yield after some years. Right now, My Great Ponds, published by Hybun that made 2011 NLNG Prize for Literature final list, is on the curriculum of five states; and some of my children books may get into the school’s curriculum soon. Despite being on the curriculum, my book is still faced with the challenges confronting the industry, such as distribution and agent problems. Some people would pick the book without remitting the money.

    In this part of the world, to make money from your books, you have to personally go into marketing and since you cannot catch two birds (writing and marketing) at once, something will give way. I look forward to a time when genuine marketers will handle the marketing side so the writers can concentrate on writing and producing good quality books. One of my goal is to own a bookshop which will take only 10 per cent for running cost because the author who gives me his/her books to put in my store is doing me a favour. If half of the books you find in bookshops are paid for in cash, shop owners would not be able to pay for them all. But what gain is there if the author gives his book to shops and the shop owners take 40 per cent. Let’s say the book costs N500, 40 per cent of that amount is forfeited by the authors to bookshop owners. Meanwhile, the take-home price is not up to the cost of production. So the next thing to do is to increase the price so that you can make profit. But writers should make money from the proceeds of their works. This brings us back to the exuberant cost of books. In a way, it is not entirely the authors or publishers fault. There is need for government interventions.  Let the writers get involved and establish bookshops that would begin to charge lesser percentage.

     

    My growing up

     

    My upbringing inspired the woman I became. I was born into the family of eight children (six girls and two boys). My parents, Mr and Mrs Iwual, were industrious business people, who were very caring. They embraced their God-given assignments with joy and complemented each other well. Whereas my father will not beat you, my mother will beat you but, all in all, while growing up, we were closely knit and happy. My father was very democratic that my mother believes he was, sometimes, too lenient with us. I used to jokingly tell my children that I cannot match my parents’ level of care. My mother made me into the woman I am today; and I mirror her life in all ways. In those days, we had talks every day on the facts of life; she told me many important things that I am planning to put into a book.

    My mother, who died in 2010, taught me that raising children is not a time to be involved with excessive socialising but a task that requires deep concentration. Before she died in 2010, she was a consummate businesswoman who tried her hand on diverse legitimate businesses.

    My parents loved education and encouraged us. Five out of us attended Federal Government Colleges; I attended Federal Government Girls’ College (FGGC), Benin-City. I read English Language/Literature in Abia State University; Law from University of Uyo before proceeding to Law School such that by 27, I was done with all these.

    I have also copied their legacy of education in raising my kids. Two of my children finished from Queens College and I used to visit them once a term. I used to jokingly tell my children that I cannot match my parents’ level of care. They hardly missed any visiting day; and took me home during mid-term breaks that were not up to a week.

     

    Managing the worlds of spouse, motherhood, banker and lawyer

     

    I work within the time God has allotted me; do not complain. I have a good attitude towards whatever I do. I owe it as a duty to the society, to be a role model ‘wife’ in assisting my husband in everything; to bring up children who are industrious and ready to add value wherever they find themselves. And finally, I owe it as a duty to myself and my Maker to be fulfilled and discover, utilise and maximise every given talent in me. As a parent, your life is a mirror to your children. If you tell lies you cannot tell your children not to. If you don’t read, you can’t raise children who read. They see the positive results of my hardwork and that I have not died, they find it very easy to do the same.

    My third daughter Ugochi Obi-Obasi is a brilliant writer. Sometimes when I read what she writes I marvel. She has won a number of awards and I know in future she will be one of the writers that will be well spoken about in Nigeria. She is currently the head girl of her school. I am very proud of her writing skill.

    My son Chukwuemeka Obi-Obasi is a performance poet who was only last year at the age of 10 awarded a scholarship on account of his brilliant performance.

    He performs poetry like a grown up not a child in the best professional manner. These poems were not necessarily written by him. He is also ever willing to learn.

     

    Igniting reading culture in kids

     

    In our days, we had Pacesetters, Hints and others publications to read; but all the publishing houses soon folded up. If we are saying we are bringing back the book, it means that something happened to the book at some point. What happened to it? Parents have a role to play reviving the dwindling reading culture, especially in children. I also adopted her policy on my children. My house is full of books….cartoons of books.  I buy new and second-hand ones. Sometimes with N5000, I can buy so many. My children watch TV and they read. They watch and when they get an uninteresting segment, they’d read two pages.

     

     

  • Banker loses $30,000 to ‘fraudsters’

    The police have arrested two persons for allegedly swindling a bank worker of  $30,000 (about N5,910,000).

    The suspects, who pretended to be money doublers, fortune tellers and miracle workers are being interrogated by the Lagos State Special Anti-Robbery Squad (SARS) operatives.

    They are: Abdullahi Mubarak Ismaihi, 47, a.k.a Miracle Worker, from Ilorin, the Kwara State capital, and Prophetess Bola Ojo, 65, a.k.a Holy Spirit, who claims to be the General Overseer of Botifer Parish of C & S Church in Aboru-Ipaja, a Lagos suburb.

    According to a police source, Ismaihi met a lady marketer in a new-generation bank at Ogba, Lagos, and told her that his politician-friend wanted to change N5,000,700 into dollars.

    He assured the banker, who is looking for a child, that he could help her spiritually.

    The suspect asked the woman to meet him at Egbeda, a Lagos suburb, from where he directed her to his office at 28, Samson Street, Oke Odo.

    Before going to see the suspect at Egbeda, the banker told her account officer who is also looking for a child of her plan.

    The account officer gave her the money, but insisted on following her to the suspect’s place.

    At Egbeda, Ismaihi told her he is a native doctor and gave her soap with which to bathe to enable her realise her dream.

    He also told her to narrate her problem to Holy Spirit (Prophetess Bola Ojo), who was speaking behind a curtain to convince the woman.

    The woman said she wanted a child as well as big money to enable her resign from the bank and set up her own business.

    After 30 minutes of prayers, she collected the soap from Ismaihi and went for a bath. When she returned, Ismaihi and Holy Spirit had disappeared. When she could not find the suspects, she returned to the bank to tell the account officer.

    When the money owner got an alert, she went to the bank to demand how she was debited $30,000. The account officer begged her to give her time to return her money.

    After waiting for a month, the customer petitioned the Commissioner of Police, Kayode Aderanti, who ordered the Officer-in-Charge of SARS, Abba Kyari to handle the case.

    Abdullahi told the police: “The woman wanted me to make her pregnant and rich to enable her resign from bank. I told her it would cost her big money and that I would use seven Akumi (camel’s hunch), with each costing N750,000. She brought the money and I gave her soap to bathe and come back for her miracle, but I disappeared. I was later arrested by SARS operatives. We are three in our gang.

    “It took the woman five days to get the money, but I have spent all on hotel accommodation and women. It was the highest money I made since I started this ‘419’. I used to get less than N10,000; I had never hit millions except in this one. I gave the Prophetess N200,000 after the deal.

    “I am a native doctor and it was the woman who said she wanted to do ritual. I am an Alhaji because I went to Mecca. I am happily married with four lovely children. I used part of the money to offset their school fees.

    “It is greed that lured me into 419 because I wanted to get millions of naira as quick as possible. I was tired of getting chicken money that does not solve problems. It is better to be a fraudster than to be an armed robber.”

    The ‘prophetess’ said: “I acted the Holy Spirit and got N200,000 as my share. Even when people who were sick came to me to heal them with prayers, I used to consult this Alhaji (Ismaihi) who claims to be a native doctor. He nearly put me in trouble because he claimed to cure all kinds of illness but never succeeded in curing even one. I am from Ekiti. I am the owner of my church. My role was to do prayers and act as Holy Spirit.”

    The Command’s spokesperson, Ken Nwosu, a Deputy Supretendent pf Police (DSP), told The Nation that efforts were on to get the fleeing third suspect.

     

  • African Banker Magazine profiles Adesina, others for AfDB presidency

    African Banker Magazine profiles Adesina, others for AfDB presidency

    The second quarter issue of African Banker Magazine has profiled Nigeria’s Minister of Agriculture and Rural Development, Akinwumi Adesina and seven other candidates vying for the African Development Bank (AFDB) Presidency.

    In the magazine’s one-to-one sessions, Adesina and other candidates, for the continent’s premier multilateral financial institution, shared their strategic visions, priorities and agendas for the bank.

    In the extensive dossier, the eight candidates indicated their suitability for this momentous job and the credentials required to lead Africa’s most prominent development institution.

    The eight candidates spoke candidly and openly about their ambitions for the bank. Among the eight contenders vying for the Presidency, five currently serve as ministers, one former minister and a Development Banking specialist.

    Adesina feels that his experience in transforming the agricultural sector in Nigeria, and his first experience working and operating in various African countries will keep him in good stead. “My vision is based on continuing decentralisation and increasing support for private initiatives,” he said.

    Having overseen Ethiopia’s strong growth into one of Africa’s leading economies, the country’s Finance Minister, Sufian Ahmed, believes the AfDB will be safe in his experienced hands.

    The former Minister Finance of Tunisia, Jaloul Ayed, asserts that his banking experience has allowed him to gain a clear understanding of Africa’s full potential. He calls for an AfDB that is closer to its markets.

    Chad’s Minister of Finance and Budget, Kordjé Bedoumra, states that following his previous tenure at the AfDB, he has the experience and expertise to improve operational efficiency of the bank as well as shape its short and long term policies.

    The only female candidate in the race is Cape Verde Minister of Finance and Planning, Cristina Duarte,  who says whatever improvements need to be made, the AfDB can never forget its mission, which is to serve Africa and its people.

  • Abia 2015 & lamentations of a banker

    It may not be politically correct to respond to every insipid and dubious critique of Dr Okezie Ikpeazu’s electoral  30prospects at the forthcoming Abia governorship elections. More so when such appraisals emanate from the spin-doctor of an APGA candidate encumbered with nativity issues and intra-party challenges from a factional leader, arising from a botched primaries, it should be treated with the derision it deserves.

    Writing recently in a tabloid notorious for its conversational terrorism, owned by an Abia born politician, one Ndubuisi Orji, futilely struggled to juxtapose the strong points between the two contending tendencies he glibly characterized as ‘old and new orders’. Bandying words such as ‘entitlement politics’, lechery tendency’ ‘traumatic citizenry’ Ndubuisi resorted to some logical fallacies, and argument by generalizations in a desperate attempt to cast a slur on the integrity and pedigree of Dr Okezie Ikpeazu.

    In the context of his discourse, any candidate espousing continuity and consolidation is a non-starter. For him it is the untested, grapevine peddled achievements of a money market operator, Abians should vote for. This is patent chicanery which cannot fly because what constitutes the core essence of a credible politician is the sum total of his functional public service track records.

    We are not swayed by the mumbo jumbo of ’financial engineering’ in some bank which did not impact on the economic fortunes of the average ‘Aria Aria’ market trader. Poser is: what is the quantum of loans, overdraft, working capital, if any did Diamond Bank under his watch made available to Igbo nay Abia customers? What money market instruments, did his bank package to facilitate enterprises in the state during the period under review?

    For Ikpeazu, his antecedents can be tracked. His background check is in the public domain. For 19 years, he has been a key player in the corridors of politics as a home baked politician who understands the nuances of the average Abian. During this period, his activism and services had been domiciled in the trenches with our people, fighting and battling with the various administrations for the elevation of Abia State. Ikpeazu is at home with all the political gladiators of Abia State and has served diligently.

    The greatest challenge of our economy, not only in Abia State, is that the economy has shut down the middle class, to the extent that we now have two classes of people – rich or poor. The renaissance of the economy cannot be predicated or leveraged by the so-called Alex Otti’s affiliations with the International Finance Corporation- an offshoot of the discredited Breton Woods institutions, (IMF& World Bank) whose deleterious prescriptions and reforms brought the mess on Third World economies including Nigeria.

    Recall that these institutions have been sorely implicated as anti-people, anti-labour, anti- industry. The collapse of the Nigerian economy, nay Aba, was tripped off by the acceptance of the IMF conditionality in 1985 by the General Babangida regime which in its wake crippled the SME’s and industries. In 2005, these institutions were tellingly indicted by the Breton Woods project, and I quote inter alia; ’With the World Bank, there are concerns about the types of development projects funded. Many infrastructure projects financed by the World Bank Group have social and environmental implications for the populations in the affected areas and criticism has centred on the ethical issues of funding such projects. For example, World Bank-funded construction of hydro-electric dams in various countries has resulted in the displacement of indigenous peoples of the area.

    The World Bank’s role in the global climate change finance architecture has also caused much controversy. Civil society groups see the Bank as unfit for a role in climate finance because of the conditionalities and advisory services usually attached to its loans. The Bank’s undemocratic governance structure – which is dominated by industrialized countries – its privileging of the private sector and the controversy over the performance of World Bank-housed Climate Investment Funds have also been subject to criticism in debates around this issue. Moreover, the bank’s role as a central player in climate change mitigation and adaptation efforts is in direct conflict with its carbon-intensive lending portfolio and continuing financial support for heavily polluting industries, which includes coal power.

    There are also concerns that the World Bank working in partnership with the private sector undermines the role of the state as the primary provider of essential goods and services, such as healthcare and education, resulting in the shortfall of such services in countries badly in need of them. As an increasing shift from public to private funding in development finance has been observed recently, the bank’s private sector lending arm – the International Finance Corporation (IFC) – has also been criticized for its business model, the increasing use of financial intermediaries such as private equity funds and funding of companies associated with tax havens.’’

    The politically astute Abia electorate are not about to swallow the International Finance Corporation vomit, being regurgitated by a clueless economic model. It failed everywhere and Abians are not ready to be any body’s guinea pig.

    Rather than playing casino with the fortunes of God’s own state with some new fangled economic paradigm, Okezie is a firm believer in sustainable development planning which lays much store in continuity and consolidation. He is on firm grounds, because the bane of developmental framework in Nigeria has been the practice of neglecting and abandoning previous contracts, projects and visions by successor administrations.

    Since independence in 1960, we have had a litany of developmental plans which were always jettisoned for other models as soon as new managers took over the reins of government. Between 1962-1985, 1962-68, 1970-74, 75-80 and 1980-85 developmental plans were marked by gaps, leakages and fragmentation.

    Fast forward to 1986, we embraced the Structural Adjustment Programmes (SAPs) and its Rolling Plans in 1986. Next was Abacha’s VISION 2010 that was thrown away and replaced with Obasanjo’s NEEDS 2004. Today we are grappling another initiative branded VISION 2020. The challenges of these processes, is that we have been achieving growth without development which Okezie Ikpeazu seeks to disavow by building on Governor T.A Orji’s legacy projects not only in Umuahia but in the wider Abia polity.

    Okezie’s blueprint for development is a clear headed, well defined manifesto that takes its motive force from a bottoms-up all inclusive community based approach with Aba as the center-piece and hub of enterprise and production. Fundamental to this is the enactment of policies for planning and housing to facilitate access to land, service, and investment codes realistic, flexible and compatible with local conditions. In the informal sector, he will address rigidities, corporate governance issues and widening inequalities vis-à-vis employment/wealth generation. His administration will review laws and practices that discriminate and frustrate the organized private sector.  The state under his watch will act as a buffer sector manager in creating the milieu that promotes access to credit, financial and business services. This is a panoramic snapshot of Ikpeazu’s economic bouquet as space and editorial constraint will not permit a fully blown narrative.

    The issue of down ‘playing’ the existence of Ukwa component is neither here nor there, as the critical Ukwa political stakeholders led by Senator Adolph Wabara are in amity with the choice of Ikpeazu as the PDP flag bearer. Except some rabble rousers being used by APGA malcontents, the issue of Ukwa marginalization is otiose.

    • Torti is a public policy analyst and management consultant