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Pendulum: Tribute To Parakoyi of Ibadanland, Bode Akindele

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By Dele Momodu
FellowNigerians, one of Africa’s greatest business icons, Sir Chief Labode Oladimeji Akindele (OFR, KJW, JP), was buried in his hometown of Ibadan, Oyo State, yesterday. In a country where history is no longer a priority, many Nigerians may not readily remember the name and the man as he died at the ripe age of 87, though he never retired from not his business and the limelight that he hugged so tenaciously in his heyday. But, trust me, if you’re talking of old money, good business and good character, here was a colossus, a giant amongst men physically and literally, who was committed to mother earth in a classy but understated ceremony, engendered by the COVID-19 pandemic and the physical and social distancing guidelines that it has spawned all over the world.

But for the unfortunate pandemic ravaging the world, Sir Chief Bode Akindele’s funeral obsequies would have been a global affair starting from the Commendation Service held in Lagos on Tuesday till the funeral itself on Friday in Ibadan. He deserved it because he worked assiduously for it. You will see the justification for my assertion in the course of my story about this enigmatic Yoruba chieftain and national and international business mogul and monumental philanthropist. During normal times, this would have been a burial of a titan, a farewell of monumental proportions that would have had the movers and shakers of Nigerian society in full attendance. The earth would have moved and trembled at the might of those who had come to pay their last respects to this great elephant that had fallen. It was not to be, but nevertheless, as was befitting of such a great man Chief Akindele still went out with a bang notwithstanding the prevailing conditions.

I was proud and delighted to be invited to join his close family members, associates and friends at the popular Methodist Church, Agbeni. It was for good reason. I have been a chronicler of the great man for a couple of decades. I have known Sir Chief Bode Akindele for close to 20 years. I was honoured to have been welcomed into his inner circle so warmly and was privileged to have  had unrestricted access to his homes and offices in Nigeria and England. We enjoyed good food and exotic wines every time we had the opportunity of meeting. Our favourite at his home in London was always a sumptuous meal of Amala accompanied by Gbegiri and Ewedu otherwise known as Abula (an Ibadan all-time favourite and delicacy), with an array of rich assortment of meat and fish dishes as supporting cast. What do you expect from a proud Ibadan man, one of its wealthiest sons ever? I have never met such a man who loved his background and upbringing and glorious heritage so passionately. Despite being surrounded by a motley crowd of expatriate staff, everyone knew him and referred to him as an Ibadan son of the soil. You could see the glint in his eyes whenever he spoke, so copiously and eloquently, about his town, one of Africa’s biggest cities. He was innately still that Ibadan boy and was acutely aware of it and happy about his rich culture.

The first comprehensive glimpse of his life as a global player in the world of business was the launch of his autobiography, I DID IT GOD’S WAY, on his 70th birthday some 17 odd years ago, as well as his first major interview which he granted the Ovation International magazine. During the session he had with me and the Editor of Ovation International, Mike Effiong James, we met an accomplished man in all its ramifications, a humble and God-fearing gentleman, a man at peace with everyone and his Creator. Due to space constraints, it may be difficult to encapsulate all of Chief’s adventures in a life spanning 87 years plus in one article. I believe a compendium of books would not do him justice. He is a veritable resource material for historians, social commentators, welfarists and economists alike.

He was no doubt a silver-spoon kid with his father, Pa Laniyan Akindele, being the Chief Tax Officer of the Ibadan Native Authority, the equivalent of the Chairman of the Board of Inland Revenue today. His mother, Alhaja Rabiatu Adedigba Akindele, was a wealthy textile dealer and was the first woman to travel to Mecca in the whole of Ibadan. According to Chief, the journey took two and half years to complete and she returned in 1953. In those days “the only means of transportation to Mecca was first by train from Ibadan to Kano and then from Kano on camels through the Sahara Desert to Mecca…” What a scenic journey and vibrant experience that would have been for a young woman.

Despite his pedigree as a member of the privilegentsia, he attended primary and secondary schools in Ibadan and Abeokuta, before taking overseas courses by tuition in Secretarial skills, Accountancy and Business Management. He was determined to build his own career rather than rely on family fortunes. In those days, children of rich men and women were immediately co-opted into the family business rather than be encouraged to get an education. Akindele was fortunate that his father was a top civil servant who knew the value of education.

Once he completed his education Akindele took to business like a fish to water. His business acumen was phenomenal. He knew it was better for him to gain experience in the unfolding business world that the British and Europeans were introducing to Nigeria. The years 1952 to 1956 saw him navigating and meandering his ways through the labyrinth of commercial enterprises including U.A.C Limited, as a Trainee Manager, Ibadan Traders Association Limited as Personal Assistant to the Managing Director, Ibadan Bus Services Limited as Assistant Accountant and as Under-Secretary of the Western Nigeria Union of Importers and Exporters (Inc.).

However, it was right from school that his entrepreneurial spirits and skills first germinated and flourished. According to Chief Akindele:

“When I was in primary school, I used to do a little trading… Whenever I was going to school, I would just throw a packet of sugar or something in my bag. I would sell it to my school mates and teachers. So, I was making a little money. Later on, as I advanced, I would buy business journals, and write to merchants, who would send me things like shoes and so on and I would sell to both school children and teachers. When I got to secondary school, I decided to upgrade it. I made a deal with my mother, who was a trader in dried meat, called Kundi, from the North, to send me quantities of Kundi instead of my school fees and allowances. So, I would resell the meat and make extra money. Later on, we agreed that ten packets of Kundi would cover all my fees, so I asked her to send twenty to sell for her. She agreed to send me the meat, but I had to return the entire principal to her and keep only the profit to myself. I had to comply strictly with the conditions of the contract in order to keep that business going. You can’t do otherwise with my mother.

“Later on, after leaving school, I started importing sewing machines. At that time, the Japanese were very unpopular. It was long after the end of the second world war and their goods were regarded as second class. What the Japanese did was that they copied Western technology. At that time, Singer sewing machines were being sold for 32 Pounds. The Japanese wanted to penetrate the African market because they knew that Africa was where people could afford highly priced high-quality goods. I wrote them that we had a company that could help them popularise their goods in Nigeria. So, they wrote back to me. I asked them to send a sample for me to show to people. They replied that they would be delighted to do that if I could pay half the price of the machine. They would take care of the freight. I saw that as a good opportunity.

“The school I attended trained us very well in commercial subjects. I calculated that I would sell the machine for about 21 Pounds. So, I sent them 7 Pounds 10 Shillings and they sent a brand new sewing machine. Though it was assembled in Japan, there was no difference at all with the Singer sewing machine. I invited the big tailors to see the machine; I sold the machine for 14 Pounds. I sent the 14 Pounds to two other companies who wanted to send me samples. When the time came that I figured that the machine was getting popular, I raised the price to 21 Pounds each. So, the two that came were sold for a total of 42 Pounds.

“In those days, 42 Pounds was a lot of money. I put the whole 42 Pounds back into the business. I was the first person to introduce Japanese sewing machines here…”

Chief Akindele did not rest on his oars and rely solely on selling sewing machines. He realised at an early stage that diversification was necessary for any successful entrepreneur. He therefore decided to also go into the business of electrical fittings like fans and so on. At this time Chief Akindele had also established the Oke’Badan Brothers & Company (Produce Merchants) in Ibadan but later moved its headquarters to Lagos sometime around 1961 to 1962 because he felt Ibadan had become too small for the massive dreams brewing in his fertile and fecund mind. In Lagos. It was in Lagos that he founded his flagship company, the Modandola Group with a beautiful office at one of the choicest locations in Lagos at the time, 27-29 Martins Street, at the top of the African Continental Bank one of the prime Nigerian Banks of the 1960’s.

The business of produce merchandising was big but delicate. Many of the big names in it ended up incurring huge debts which sent them into liquidation and bankruptcy. Chief Akindele decided very early that this would not be his portion. He embarked on a lot of research and discovered the loopholes. For example, “the controlled produce included palm kernel, cocoa, palm oil, and some others. It was in these areas that big money was being made, but also, businesses were failing. However, there were more than two dozen other uncontrolled produce like gum Arabic, coffee, chilli, shea nuts, and so on. In his own words, “I decided that there must be somewhere out there in the world where these things are needed. I began to write. The first deal I got was for shea nuts. It was needed in Japan and Denmark and they said they wanted some… Then, I added chilli. I sold it all over England. Also Gum Arabic… Just before the civil war (1967-1970), I had grown relatively big. I had sixteen branches in the North, where I collected produce…”

To be continued…

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Ezekiel Bolarinwa Ajayi: Mentor, Philanthropist Revels at 80

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By Eric Elezuo

The ancient town of Ile-Ife was agog weekend, when Professor Ezekiel Bolarinwa Oladele Ajayi, a renowned educationist, accomplished mentor and elder brother of veteran journalist, Dele Momodu, pulled all the stops to mark a resounding entry into the octogenarian club, celebrating his 80th birthday with fanfare, pomp and class.

The event, which attracted family members, colleagues in the academic world, friends and well wishers, was another testament in the expression of influence, clout and connection.

Held at the Rock Rehoboth Cathedral in the centre of Ile-Ife, the event brought out the best in the Stanford trained PHD holder, as beamed with contagious smiles, absorbing accolades from a crowd of well wishers and dignitaries, most of whom traveled half  way across the world to felicitate with the newest octogenarian.

A lavished reception followed after heartfelt prayers were said for the celebrant flanked by his wife of many years, children and grandchildren. The reception witnessed guests savoring the best of continental and local delicacies as well as dancing happily to the old school tunes.

The highpoint of the event was the cutting of the gigantic cake by the birthday boy around whom were dotting family members.

As guests expressed their profound, hearty and sincere congratulations towards the octogenarian, whose event changed the landscape of Ife, many recalled how they have come a long way from their very humble beginning in Gbongan Olufi.

Fondly called Ladele, Prof Ajayi was born on March 23, 1944 in Gbongan, Osun State, where he had his earliest beginnings.

He statted his education at the Saint Paul’s School Gbongan, before moving on to Saint Judes School, Ebute Metta, and later to Saint Stephens School, Ile-Ife, where he completed his primary education.

After his elementary education, he was admitted into the Government College lbadan, where he was described as having  ‘passed out in exceedingly bright colours’. As many that knows him has confirmed that Prof Ajayi was a walking encyclopedia, and vibrated with intelligence while at school.

It was not therefore, surprising that he later proceeded to the United States of America, after his secondary education, where he attended various prestigious Universities including Stanford University. It is worthy of note that all his appearances for university education were on different scholarships. It was also at Stanford that he bagged his PhD honours.

On the completion of his PhD programme in Stanford, Prof Ajayi was recruited by the University of Ife, as it was then known, before its transmutation to Obafemi Awolowo University, where he later became a Professor of Physics, a position he jealousy guarded until retirement from active classroom duties.

According to a very close family member and confidant, Bola Adeyemo, who spoke glowingly about their fond relationship, Prof Ajayi “also became active in things of God. Like a proverbial gold fish, he has been recognized as a Pastor. Ladele played a mentoring role in the final years of school for my twin daughters who both graduated from the medicine program in the same University.

“The mutual fondness between Ladele and I remains very much intact. Ladele and l share common ancestry. His father who was the Otun Olufi of Gɓongan was a much older cousin to my mother and was fondly referred to as baba mi ile ASORO. They both had the same tribal marks. Ladele can be classified as belonging to the royal class as his father was the OTUN OLUFI while his mother was the daughter of the ÒOSA, first class chief in Gbongan.”

A life of Prof Ajayi without a mention of prolific publisher of the Ovation brands,  Chief Momodu, remains incomplete. It is worthy of note that apart from both sharing the same mum as siblings, the Prof was instrumental in shaping and mentally mentoring Momodu on the path of education. His 80th birthday was a reminder of how it used to be in times past as it marks a form of reunion for the Ajayi extended household.

Among those who attended were his daughter, Kemi Ajayi-Ingram, who flew in all the way from the United States of America, with her entire family; his niece, Yejide Ajayi among a host of others.

We wish the ebullient octogenarian a splendid birthday, and many ore years of splendid celebrations.

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Easter, Ramadan: Adeleke Releases March Salaries, Pension, Palliatives, Approves Promotion for Personnel

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Osun State Governor, Ademola Adeleke, has approved the release of salaries, pensions and palliatives for the month of March for all public servants in the state, as well as approved the promotion of service personnel due for promotion from 2023.

Adeleke’s show of love for the entire workforce, is in spite of the fact that the State allocation from the Federation account is yet to be released, according to a statement signed by the governor’s spokesperson, Mallam Olawale Rasheed.

The Head of Service, Mr Samuel Ayanleye Aina confirmed the approval of the March salaries, pension and palliatives, noting that the fast tracked approval covered all categories of state and local government employees including tertiary institutions in the State.

“I can confirm that Mr Governor has approved the March salaries, pension and palliative wage awards, including the usual payment of the outstanding half salary for retirees under the contributory pension scheme yet to obtain their bonds. Mr Governor requested for the file and granted immediate approval.

“Any moment from now, alerts will be landing in our peoples’ accounts. This is a preemptive step on the part of Mr Governor to meet the needs of our people”, the Head of Service explained.

Governor Adeleke who has been hosting inter faith leaders at the Government House said he approved the early payment to ease the burden of the workers ahead of the Easter period.

“As I wish muslim and christian faithfuls blessed fasting season, the early payment is a gesture of support for workers whose welfare remains the number one priority of our administration”, the Governor noted.

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FG Announces Nine Individuals, Six BDCs Financing Terrorism

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The Federal Government says it has uncovered the identity of 15 entities, including nine individuals and six Bureau De Change operators and firms, allegedly involved in terrorism financing.

Details of the development were revealed by the Nigerian Financial Intelligence Unit, in an email seen by The Punch on Tuesday night, entitled “Designation of Individuals and Entities for March 18, 2024.”

The document revealed that the Nigeria Sanctions Committee met on March 18, 2024, where specific individuals and entities were recommended for sanction following their involvement in terrorism financing.

“The Honourable Attorney General of the Federation, with the approval of the President, has thereupon designated the following individuals and entities to be listed on the Nigeria Sanctions List,” the document read in part.

Among the individuals named in the document was a Kaduna-based publisher, Tukur Mamu, who is currently being tried by the Federal Government for allegedly aiding the terrorists who attacked the Abuja-Kaduna train in March 2022.

According to the document, Mamu “participated in the financing of terrorism by receiving and delivering ransom payments over the sum of $200,000 US in support of ISWAP terrorists for the release of hostages of the Abuja-Kaduna train attack.”

The document said one of the individuals is “the suspected attacker of the St. Francis Catholic Church Owo, Ondo State on June 5, 2022 and the Kuje Correctional Center, Abuja on July 5, 2022.”

Another was described as “a member of the terrorist group Ansarul Muslimina Fi Biladissudam, the group is associated with Al-Qaeda in the Islamic Maghreb.

 “The subject was trained and served under Muktar Belmokhtar, aka One Eyed Out, led Al-Murabtoun Katibat of AQIM in Algeria and Mali.”

The NFIU said the individual “specialises in designing terrorist clandestine communication code and he is also Improvised Explosive Device expert.

“The subject was also a gate keeper to ANSARU leader, Mohammed Usman aka Khalid Al-Bamawi. Equally, he was a courier and travel guide to AQIM Katibat in the desert of Algeria and Mali. He is into carpentry. Subject fled Kuje correctional centre on July 5, 2022. He is currently at large.”

Another was identified as “a senior commander of the Islamic State of West Africa Province Okene.”

The agency said, the individual “came into limelight in 2012 as North Central wing of Boko Haram.

“The group is suspected of the attacks carried out around Federal Capital Territory and the South West Geographical Zone, including the June 5, 2022 attack on St. Francis Catholic Church, Owo, Ondo State.”

Another was described as “a financial courier to ISWAP Okene. She is responsible for the disbursement of funds to the widows/wives of the terrorist fighters of the group.”

According to the document, another of the individuals “in 2015, transferred N60m to terrorism convicts.”

He was also said to have “received a sum of N189m  between 2016 and 2018.”

The same person is said to “own entities and business reported in the UAE court judgment as facilitating the transfer of terrorist funds from Dubai to Nigeria.”

Another individual was said to have “received a total of N57m from between 2014 and 2017.”

Another was said to have “had a total inflow of N61.4 bn and a total outflow of N51.7bn from his accounts.”

The document further revealed that, in accordance with Section 54 of the Terrorism (Prevention and Prohibition) Act, 2022, institutions and individuals are required to:

“(a) immediately, identify and freeze, without prior notice, all funds, assets, and any other economic resources belonging to the designated persons and entities in your possession and report same to the Sanctions Committee;

“(b) report to the Sanctions Committee any assets frozen or actions taken in compliance with the prohibition requirements.

“(c) immediately file a Suspicious Transactions Report to the NFIU for further analysis on the financial activities of such an individual or entity; and

“(d) report as a Suspicious Transactions Report to the NFIU, all cases of name matching in financial transactions prior to or after receipt of this List. ”

It said the “The freezing obligation required above shall extend to

“(a) all funds or other assets that are owned or controlled by the designated persons and entities, and not only those that are tied to a particular act, plot, or threat of terrorism or terrorism financing;

“(b) those funds or other assets that are wholly or jointly owned or controlled, directly or indirectly, by designated persons or entities;

“(c) the funds or other assets derived or generated from funds or other assets owned or controlled directly or indirectly by designated persons or entities; and

“(d) funds or other assets of persons and entities acting on behalf of, or at the direction of designated persons or entities.”

The Punch

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