Boss Of The Week
Adebanji Akintoye: The Man of Great Vision
By Eric Elezuo
When kings and change makers are born, there are always distinct signs in the horizon that announces them. Theirs is a herald of glory, glamour and achievements with a dint of divine touch to ensure that nothing goes wrong; Stephen Adebanji Akintoye, known simply as Banji Akintoye, is that change maker; a man of great destiny, created to divinely fulfill a purpose. The ebullient octogenarian has not looked back in his quest to put the right foot first in all his undertakings even as he is concluding with the actualisation of a much touted Yoruba nation.
Born on February 18, 1935, Banji Akintoye is a prolific academic, historian and writer, who was privileged to attended the wonderful Christ’s School, Ado Ekiti, between 1951 and 1955, and followed it with a degree in History from the University College (Overseas College of the University of London), Ibadan from 1956 to 1961. He obtained his doctoral honours (PhD) after intensive studies between 1963 and 1966 at the University of Ibadan.
Akintoye kicked off a prolific career with a teaching position at the History Department of Obafemi Awolowo University, Ile-Ife, and rose to become a professor and Director of the Institute of African Studies from 1974 to 1977. He has also taught African History in some universities in the United States including the University of South Florida, Tampa, Florida; Montgomery County Community College, PA, and Eastern University, St. Davids, Pennsylvania. He was practically legendary. He quest into the world of history equipped him with all there is to know about indigenous people, especially his immediate race, Yoruba.
A writer of great repute, Akintoye has four books to his credit as well as different chapters in many joint books, and several articles in scholarly journals.
His journey into the political terrain of Nigeria cannot go unmentioned as he took a leading part for some time in politics and served as a senator for four years (1979–1983) ie during the Second Republic. While in the Upper Chamber, he served in different committees, such as: Foreign Relations, Petroleum & Energy, Internal Affairs. He was also chairman, Senate Delegation to the United Nations Peace-keeping Force in Lebanon, 1981; member, Nigerian National Delegation to the 1981 General Assembly of the United Nations Organization. He was a Nigerian Delegate to World Conference on Actions Against Apartheid, London, 1981 and member, Nigerian Senate Delegation on Fraternal Visit to the Soviet Union, 1982. He also served as the Commissioner for Health, Ondo State, Nigeria, 1983-4.
There is no way the history of Yoruba people is written without Akintoye getting a generous spotlight. He is in fact one of the current leading scholars on the history of the Yoruba people.
According to Wikipedia “His most recent work, A History of the Yoruba People (Amalion, 2010), draws on decades of new findings and thinking on Yoruba studies that challenges some previously dominant notions about the origins of the Yoruba. This work dispels the Middle Eastern and Arabia origins propounded by such scholars as the late Samuel Johnson (1846–1901) and also gave prominence to the works on the Pre-Oduduwa Period by Ulli Beier among others. Akintoye also gave prominence to the role of Ilé-Ifè over that of Oyo. A reviewer, Wale Adebanwi, notes: “…this book directly contests and shifts the focus of Yoruba history away from what many have called the Oyo-centric account of Samuel Johnson… Where Johnson avoids the creation myth that positions Ife as the sacred locus of Oduduwa’s original descent and the orirun (creation-source), Akintoye, justifiably, restores Ile-Ife to its proper place as “ibi ojumo ti mon wa’ye” (where the dawn emerges)”.
He is seen as “a walking encyclopedia of History, a dandy of diction, a well of wisdom, a proboscis of brilliance, a totem of intellect, a tendon of integrity, an exemplar of excellence, an edification of dignity and above all, a PATRIOTIC Yoruba man,” who has resolved not “… cease researching and writing”.
From a deeper insight, and from a prolific insider, Akinloye’s life and times are portrayed in details as follows:
ASIWAJU OF YORUBALAND, ADEBANJI AKINLOYE
“He was born in Ado-Ekiti in the Palace of the Ewi of Ado-Ekiti – on the “right” hand from the palace of Ewi of Ado-Ekiti, and on the “left” hand from the family of the High Chief ‘Osolo’ of Ado-Ekiti. His father was Chief James Akintoye, the Osolo of Ado-Ekiti.
“His grandfather was Faparusi, the Osolo of Ado-Ekiti, one of the great warrior-rulers in Ekiti in the 19th century.
He is, now, 86 years of age. He was educated at the Emmanuel School (Anglican), Ado-Ekiti – where he started in 1942.
“From there he went to Christ’s School, Ado-Ekiti – a BIG NAME in secondary school education in the days of yore. Four months after completion of secondary school, he passed the DIFFICULT entrance exam into the prestigious University College, Ibadan (then an affiliate of the University of London). He obtained the B.A. (Honours) degree in History in 1961. His passion was to return to Christ’s School (his Alma Mater) to teach, which he did.
“One afternoon, as he was teaching the Advanced Level students of the school, he heard a great COMMOTION as students ran to where he was teaching, and BANGED on the door! What was happening? he asked. As he went out to see them, they carried him shoulder-high, saying that there had been news from the University of Ibadan that Banji Akintoye had been ADMITTED for POST-GRADUATE studies at the University, whereas he never applied for post-graduate studies! The University had unilaterally admitted him; they had willingly offered him admission even though he did not apply! THEY WANTED HIM! The students of Christ’s School Ado-Ekiti had seen this news in the newspaper, and that was what led to that commotion!
“Thus, Banji Akintoye returned to the University of Ibadan for his Ph.D. His Ph.D program and thesis was on the HISTORY OF THE YORUBAS! – containing the history and wars in Yorubaland in the 19th century. He wrote the leading book of history, the most respected book of HISTORY of the Yorubas of that period, till date! – titled “REVOLUTION AND POWER POLITICS IN YORUBALAND: Ibadan Expansion and the Rise of Ekiti Parapo.” To write that book, he had to learn a bit of the Portuguese language – so as to be able to read and understand certain documents in the archives of the nation of Portugal, documents that had been written earlier concerning the Yorubas by Portuguese expeditions that came to this part of the world long before then. He also had to learn a bit of LATIN language in order to research into documents concerning the Yoruba race, documents that were in Rome, and especially at the archives of the Papacy of the Roman Catholic Church (Vatican). He also had to stay in London for several months, in order to study and research into British archives concerning the things they had written about the YORUBA RACE. But, all of that was not enough. To write that book, he also had to GO ROUND THE ENTIRETY OF YORUBALAND – to research into the HISTORY of the Yorubas. He personally met with a lot of people who had witnessed those wars and were still alive at the time of his research! And he interacted with them and interviewed them. As a demand for and of this research, it is ON RECORD that there is NO CITY, TOWN OR COMMUNITY in the entire Yorubaland that Banji Akintoye has not visited or been to! NONE! He has literally treaded the entire Geographical space of Yorubaland – from Community to Community!
“He did not know that DESTINY was beckoning on him!
“He further, in his research on Yoruba history, went to all Yoruba towns and Communities in what is now Benin Republic, as well as in Togo.
“His professors at the University of Ibadan were extremely pleased with the work he had done on Yoruba history in his Ph.D research and thesis. It was not only a foregone conclusion that he thus obtained his Ph.D, but, also, his professors wanted him to remain in Ibadan at the University as a teaching and research person (University don or lecturer). However, Banji Akintoye had other plans. A new University had just been established by the very vibrant Western Nigeria Government under the leadership of the great Yoruba leader – Chief Obafemi Awolowo. The university was University of Ife (before it was later taken over by force by the military domineering Federal Government and re-named Obafemi Awolowo University). It was a new University that was built to be one of the best in the whole world – it was a “Yoruba” innovation that was to catch the attention of the whole world, and Banji Akintoye wanted to be a part of that “new thing.”
“He did not know that destiny was beckoning on him!
“Meanwhile, he had also been involved in politics, at the international level, even from school in the 1950’s at the University College, Ibadan, where he was involved in the “World Universities Service,” “United Nations Students Association,” “All Nigeria United Nations Students Association” etc. He was President/Chairman in the University.
“In 1959, as he observed the late sage, Chief Obafemi Awolowo, in his political campaigns, Banji Akintoye saw a “drawing” within himself towards supporting the late sage. He said within himself, “This man deserves the support of someone like me.” By himself, he went to Chief Obafemi Awolowo and said to him “I want to be a member of your Party.”
“DESTINY was beckoning on him!
“Chief Obafemi Awolowo’s Political party was known as the “Action Group” (AG). Banji Akintoye worked with about 2 other students to establish the Action Group Students Association at the University College, Ibadan.
“In the brief period that he worked at the Christ’s School, Ado-Ekiti, before returning to Ibadan for his post-graduate studies, he was instrumental in establishing the Action Group Youth Association.
“While he was still a post-graduate student, he was prevailed upon to be the Vice-President of the Action Group Youth Association, while Chief Ayo Fasanmi was the President.
“As if that was not enough, he was called upon from Ado-Ekiti, while he was still a post-graduate student in 1964, to represent his people in Ekiti at the House of Representatives in Lagos (which was the capital of Nigeria at the time). But that election was rigged to the extent that the President, Nnamdi Azikiwe, refused to announce any winner because the election had been massively rigged in the North; and the West, in alliance with the N.C.N.C party of Azikiwe were asked to boycott the elections.
“Following that was the 1965 elections in the West (for the Western Parliament) which was also massively rigged because the Fulani-Controlled Federal Government of Abubakar Tafawa Balewa had massively pokenosed into the politics of the West – leading to the military take-over in 1966! Banji Akintoye was agitating, alongside others, against the injustice of rigging!
“In 1974, he became a full professor at the University of Ife. He also became the Director of the Institute of African Studies at the University of Ife.
“Destiny was indeed beckoning on him.
“He contracted the services of a renowned European-trained photographer in Nigeria, who produced photographs of the great University of Ife, while Banji Akintoye wrote the narrative of a new book: “Ife University in COLOUR: scenes from Africa’s Most Beautiful Campus.” The University was so impressed that they bought the book off the authors!
“As soon as Chief Obafemi Awolowo was released from Political prison in 1966, the very following day Banji Akintoye went to see him to recommit himself to following the sage, after the interruption of the prison period.
“Professor Banji Akintoye inherited a mantra from his grandfather – and that mantra is: Serve others, and not just yourself alone.
“By the time the Second Republic was to begin, Banji Akintoye was among those at the University of Ife, who spearheaded the formation of Chief Obafemi Awolowo’s “Unity Party of Nigeria” (UPN). As a matter of fact, the Political MANIFESTO (the order of programs and POLICIES) of the great UPN was written by Banji Akintoye!
“Chief Obafemi Awolowo sent Banji Akintoye to Singapore for the purpose of studying the success story of that country so that the same could be done here at home.
“Destiny was beckoning on him!
“Again, Chief Obafemi Awolowo sent Banji Akintoye to Argentina to study how that country came from a lowly status to becoming the world’s greatest producer of BEEF!
“Again, Awolowo sent Banji Akintoye to Brazil to go and study how that country came about a system of good industrialization.
“As the Second Republic approached and campaigns were in top gear, Chief Obafemi Awolowo sent Banji Akintoye to organize the Unity Party of Nigeria in Benue State. While he was on that assignment, he was further detailed to go to the then Cross River State (which included the present Cross River and Akwa Ibom) for the same purpose – to organize Awolowo’s Unity Party of Nigeria in those places.
“Destiny was indeed beckoning on him!
“He was still in Cross River State when his people in Ado-Ekiti nominated him to contest for the Senate seat. That was how Banji Akintoye became a Senator.
“However, the military again took over the Government of Nigeria. Nigeria kept going in the NEGATIVE direction. Meanwhile, the sage, Chief Obafemi Awolowo, had passed on in the year 1987. By the year 1990, with TEARS in his eyes, Banji Akintoye saw that Nigeria had been plunged into darkness and the darkness was getting deeper. With tears in his eyes, he decided, painfully, to relocate to the United States of America, and to fend for himself as a Visiting Professor. Before leaving, he told Mrs. H. I. D. Awolowo, wife of the late sage, that he was relocating briefly to the U.S. for about 2 years – but, within himself, he really didn’t think that he would ever be back again. Nigeria, as led and manipulated by the Fulani oligarchy, had gone beyond redemption. He made that decision in the year 1990.
“He was to be in the U.S. for the next 25 years!
“Little did he know that Destiny had not released its hold on him!
“As time went by, the MAXIMUM DICTATOR, Sani Abacha, took over the control of the Government of Nigeria and RULED with Terror! People were being assassinated right, left and centre! The Yorubas, in particular, were under serious attack. This was the period that Abiola’s wife, Kudirat was killed… and, later, Abiola himself. The Yorubas were under siege!
“Within himself, something told Banji Akintoye, far away in the U.S., that ‘you cannot be here while your people are under siege, and suffering, back at home. It’s time for you to rise!’
“This nudging within him came to a climax in the year 2006; thus, he called a meeting of a few Yoruba intellectuals and told them that he could no longer continue watching his people, the Yorubas, being oppressed back in Nigeria without him doing something. He asked if they would join him in forming an association to work together for the emancipation of the Yoruba people. Thus, Oodua Foundation was formed.
“Oodua Foundation started making research into what the future holds for the Yorubas in Nigeria, and what is the way forward!
“Very soon, Oodua Foundation had members from all over the world! Such that for any meeting, people would come from Australia, Canada, Europe, China, India, and so on. Their focus was on how the Yoruba would be extricated from the destruction that Nigeria had become! It got to a point that they started inviting political leaders from Yorubaland – e.g. Chief Bisi Akande, Chief Bode George, etc., – to attend those meetings of Oodua Foundation in the United States. Oodua Foundation thereafter started writing petitions to the governments of Lagos State and other Yoruba states to let them know that research indicated that certain things were happening to the Yorubas under their watch and what the END RESULT would be if actions are not taken to stop such negative drift.
“By the year 2015, the members of Oodua Foundation told Banji Akintoye, pin-pointedly, that HE WOULD HAVE TO RELOCATE (RETURN) TO YORUBALAND if he did not want his people to go into extinction!
“So, in that year, 2015, the Oodua Foundation appointed 6 people to accompany Banji Akintoye back to Yorubaland!
“With these 6 people, Banji Akintoye travelled round the whole of Yorubaland, visiting and discussing with traditional rulers, elders as well as politicians – like Bola Tinubu, Chief Ayo Adebanjo, Chief Fasoranti, Chief Bode George, Chief Olu Falae, etc., etc., telling them to work in such a way as to see what good those Yorubas in government or close to Government might be able to bring to Yorubaland. It was accepted.
“However, as time went on and it was in the news how Fulani herdsmen were inflitrating Yorubaland and other horrible atrocities (even before it got to the present scale), it was finally decided that Professor Banji Akintoye should PERMANENTLY relocate to Yorubaland! That was in December of the year 2015.
“Upon returning, he was VERY SAD to see what was actually happening to Yorubas in their own land. Immediately, he liaised with the Afenifere, of whom he had been a part long before relocating to the U.S. They asked him to be the Chairman of their Political Committee, which he accepted. As reports of Yoruba women being raped and other atrocities being committed against the Yoruba poured in, the Afenifere commissioned Banji Akintoye to embark upon a RESEARCH as to why, how, and from what quarters such atrocities against the Yoruba were coming. It was his terrain – RESEARCH! As a matter of fact, he’s the one who had suggested that such research needed to be done as you cannot be fighting against an enemy that you didn’t even know!
“Banji Akintoye embarked on this research and presented his report! In carrying out the research, he even went BEYOND NIGERIA, as he had heard reports that the organization of the attack against the Yoruba were in fact co-ordinated from outside Nigeria in the West African sub-region!
“From his research, he came to the CONCLUSION that, NO HUMAN BEING CAN SAVE NIGERIA FROM ITS PREDICAMENT!
“He came to the CONCLUSION, also, that Nigeria being so terminally HOSTILE to Yorubas and to Yorubaland, he, Banji Akintoye, is BACK HOME, not to fight for Nigeria, but to fight for Yorubaland.
“Banji Akintoye is the Leader of YORUBA WORLD CONGRESS. He is also the leader of ILANA OMO OODUA (literally meaning: pathfinding for the Yorubas), where he has the title of ALANA OMO OODUA (literally meaning: the PATHFINDER for the Yoruba race).
“He is also the Leader/Chairman of the Nigeria Indigenous Nationalities Alliance for Self Determination – a coalition of the peoples of South-West, South-East, South-South, and Middle-Belt of Nigeria – peoples that are seeking for deliverance from the EVIL that Nigeria is, and who are now enforcing their Sovereignties and self-actualisation.
“On the 16th day of December, last year (2020), and as Leader of the Nigeria Indigenous Nationalities Alliance for Self Determination, Banji Akintoye announced to the whole world, via a World Press Conference, as well as letters written to the Federal Government of Nigeria, the United Nations, the Governments of the United States, and so on, that the Peoples of South-West, South-East, South-South, and Middle Belt of what had been known as Nigeria, REJECT the 1999 Constitution and therefore call for Indigenous Nationalities in the space called Nigeria to write their own Constitutions and also called upon the Federal Government of Nigeria to come to the negotiating table where the Indigenous Peoples of Nigeria would state whether or not they still want to have anything to do with Nigeria.
“The Federal Government of Nigeria did NOT respond. Banji Akintoye, as Leader of the Indigenous Peoples for Self Determination, went ahead on Wednesday, 17th March, 2021, to report to the whole world that the Federal Government of Nigeria had failed to respond to the 90-day notice given to it by the Indigenous Nationalities for Self Determination. He thereafter outlined a process by which the Indigenous Peoples of Nigeria from the South-South, South-West, South-East, and Middle Belt would henceforth free themselves from the oppression called Nigeria. He called, on the platform of the Indigenous Nationalities for Self Determination, he called for Ethnic nations to perfect the instruments of their Sovereignty – their geographical map, their Constitutions, as well as embark upon and intensify EFFORTS towards having REFERENDUMS and PLEBISCITES in order to tell the world whether they still want to remain in Nigeria or not. He also stated that the 1999 Constitution having now become defunct and TERMINATED, the peoples of the Southern and Middle Belt of Nigeria should get galvanized to carry out the necessary steps to actualising self-determination. He said carefully made steps towards this end would be made.
“For the Yoruba Nation in particular, Banji Akintoye has stated that there’s no going back – the Sovereignty and Self-Determination and Self-Governance of the Yoruba Nation is non-negotiable!
“At 86 years of age, Destiny has gone full-circle in LAYING HOLD upon Banji Akintoye!”
We, at The Boss, rejoice with a man of vision!
By Eric Elezuo
The story of the former President of the prestigious Africa Development Bank (AfDB), Mr. Akinwumi Adesina, is one veritably punctuated with honours, credibility, integrity, service delivery and show of gratitude. This is the reason behind the copious awards that have trailed his existence, in and out of office.
It was for his exemplary leadership qualities, among a plethora of achievements that the main hall of the glamorous Movenpick Hotel, in the heart of Accra, Ghana, was jam-packed with special guests, dignitaries and a host of other African achievers, including the 24-hour Economy exponent, who is the admired President of Ghana, Dr. John Dramani Mahama. The event was the 2026 African Heritage Awards. And Adesina one more time, shone like a million stars, carting away the prestigious African Lifetime Achievement Award.
Akinwumi is not a stranger to high profile and prestigious awards.
Recall that shortly before he rounded off his tenure as AfDB president, he was awarded the much sought after Obafemi Awolowo Leadership prize in the presence notable dignitaries. As a follow-up, he won the inaugural African of the Decade Award. A landmark achievement, and the first of its kind.
His then organisation, the AfDB celebrated the landmark honour with glowing tributes, part of which include the fact that “Dr. Adesina has demonstrated a significant impact on the African continent through innovative solutions, projects, or initiatives that address the continent’s pressing socio-economic and environmental challenges. He has consistently shown leadership, vision, and dedication, driving positive change in sustainable development in Africa.”
The also recognised that “Under Adesina’s tenure, Nigeria ended 40 years of corruption in the fertilizer sector by developing and implementing an innovative electronic wallet system, which directly provides farmers with subsidized farm inputs at scale using their mobile phones.
“Since assuming leadership of the African Development Bank in 2015, Adesina, a World Food Prize laureate, has been instrumental in attracting global investment, championed innovative development strategies, and consistently positioned Africa as a continent of immense potential and opportunity.”
As always, Adesina was accompanied by his beloved wife, Mrs Grace Yemisi Adesina, and a retinue of well wishers.
It was a moment of glamour and most sought after, when the Dr Mahama stepped up the podium to do the honours to a son of Africa, whose tenure in every field of endeavour he had walked through, especially his 10-year stewardship at the AfDB, had been crowned with loud ovation.
Smiling from ear to ear, and with certain encouragement and support from his wife, Adesina picked up his award to a thunderous cheer by a crowd of distinguished ladies and gentlemen.
THE MAN, AKINWUMI ADESINA
Akinwunmi Adesina is one Nigerian who has left the footprint of achievements, nostalgia, accomplishment and determination in the sands of time, culminating in his unequivocal acceptance by well meaning peoples of the earth.
Born to a Nigerian farmer in Ibadan, Oyo State, on February 6, 1960, Adesina attended a village school and graduated with a Bachelors in Agricultural Economics with First Class Honors from the University of Ife, Nigeria in 1981. He was basically the first student to be awarded this distinction by the university. He followed up his studies at Purdue University in Indiana, briefly returning to Nigeria in 1984 to get married.
Afterwards, he returned to school, obtaining his PhD (Agricultural Economics) in 1988 from Purdue, winning the Outstanding Ph.D Thesis for his research work in the bargain.
Adesina’s professional career kicked off proper in 1990, when he served as a Senior Economist at West African Rice Development Association (WARDA) in Bouaké, Ivory Coast. He served till 1995.
He worked at the Rockefeller Foundation since winning a fellowship from the Foundation as a senior scientist in 1988.
From 1999 to 2003 he was the representative of the Foundation for the southern African area. And from 2003 until 2008, he was an Associate Director for food security.
In 2011, he was appointed Nigerian Agriculture Minister, a post he held till 2015 when the administration of former President Goodluck Jonathan ended.
Adesina was named as Forbes African Man of the Year for his reform of Nigerian agriculture. He introduced more transparency into the fertiliser supply chain. He also said that he would give away mobile phones to farmers but this proved too difficult as a result of lack of mobile network in rural areas.
Also in 2010, United Nations Secretary General, Ban Ki-moon appointed him as one of 17 global leaders to spearhead the Millennium Development Goals.
On May 28, 2015, just before he completed his tenure as the Nigerian Minister of Agriculture, a position he had held for four years, Adesina was elected the presumptive President of the African Development Bank. He began his tenure of the office on September 1 2015. He is the eighth president in the organization’s history, and the first Nigerian to hold the post.
On resumption at the AfDB, He launched a strategy based on energy, agriculture, industrialization, regional integration and bettering Africans’ lives. The Board of Executive Directors approved the reorganization of the structure around these five priorities.
In September 2016, Adesina was appointed by United Nations Secretary-General Ban Ki-moon to serve as member of the Lead Group of the Scaling Up Nutrition Movement.
In 2017, he was awarded 2017 World Food Prize. Upon receiving the prize on October 21, 2017. Adesina donated the $250,000 he received to the development of African youth in agriculture. That is how generous and benevolent he is.
As an Agricultural Economist, Dr. Akinwumi Adesina has been a leader in agricultural innovation for over 30 years. He has contributed greatly to food security in Africa, aimed at improving the lives of millions currently living in poverty, throughout the African continent. The Sunhak Committee acknowledges Dr. Akinwumi Adesina’s achievements in promoting Good Governance of Africa, which boosts Africa’s capacity to feed itself and transform its total economies for generating wealth for millions of rural and poor African farmers.
At the Cape Town International Convention Center, the Sunhak Peace Prize Committee announced him as a co-winner of the 2019 Laureates for the Sunhak Peace Prize, with Waris Dirie, 53 year-old world-class supermodel and anti-FGM activist.
The Sunhak Peace Prize honors individuals and organizations who have made significant contributions to the peace and the welfare of the future generations. The Sunhak Peace Prize includes a cash prize totaling one million dollars. He received the award in February, 2019 in Seoul, Korea.
Dr. Akinwumi Adesina has been a leader in agricultural innovation in Africa for over 30 years, bringing great improvement to Africa’s food security, contributing to Africa’s dynamic growth. His leadership is building stepping-stones for Africa’s dynamic growth.
Dr. Akinwumi Adesina pioneered major transformations in the agricultural field, including expanding rice production by introducing high yielding technologies, designing and implementing policies to support farmers’ access to technologies at scale, increasing the availability of credit for millions of smallholder farmers, attracting private investments for the agricultural sector, rooting out the corrupt elements in the fertilizer industry, and assisting in establishment of major agricultural policies for Africa’s green revolution.
The “Africa Fertilizer Summit,” which he organized in 2006, was one of the largest high-level meetings in Africa’s history that had a focus on solving Africa’s food issues. During this Summit, Dr. Adesina was instrumental in developing the “Abuja Declaration on Fertilizer for the African Green Revolution,” whereby the participants stated their commitment to the “eradication of hunger in Africa, by 2030.”
Dr. Adesina has worked with various banks and international NGOs in order to create an innovative financing system, providing loans to small farmers, providing a way for them to rise out of poverty. This move leveraged $100 million in loans and provided opportunities for small farmers to increase their agricultural productivity, and their income.
His stewardship as the president of the African Development Bank Group, has continued to ensure a central role in Africa’s development. As an “economic commander” of Africa, he promotes the “High 5 Strategy” that include: light up and power Africa, feed Africa, industrialize Africa, integrate Africa and improve the quality of life for the people of Africa. As a result of his work, the lives of millions of people throughout Africa have been improved.
Dr. Adesina, also significantly utilized social impact bonds, most notably launching a record-breaking $3 billion “Fight COVID-19” Social Bond in March 2020. The initiative, designed to alleviate the economic and social impact of the pandemic on livelihoods and African economies, was the world’s largest US dollar-denominated social bond at the time.
Overall, his administration raised over $14 billion in social bonds in the past eight years to fund projects with measurable positive social impacts, such as education, healthcare, and infrastructure improvements.
During his 10-year tenure, the African Development Bank (AfDB) implemented Adesina’s “High 5” strategic priorities, which significantly impacted an estimated 565 million people across Africa in energy, agriculture, industrialisation, integrated infrastructure, and the improvement in the lives of Africans through investments in education, water, sanitation, and investments in women-led businesses and SMEs.
He was instrumental in gathering no fewer than 200 leading African political, business, and diplomatic leaders in Johannesburg for the 8th African Leadership Magazine Persons of the Year Award dinner. He was the cynosure of all eyes. Adesina’s achievements shone like a million stars as he was named and honored as the African of the Year 2019, the most popular vote-based third-party endorsement in Africa.
The event which was themed ‘Africa for Africans – Exploring the Gains of a Connected Continent’, brought together dignitaries including South African Deputy President, David D Mabuza, South African Ministers Nkosazana Dlamini-Zuma and Lindiwe Zulu, and Dr. Ken Giami, Publisher of African Leadership Magazine.
In his usual self, he delivered a keynote speech on the night that speaks of his passion for the continent. Much as he deserved the honour by every standard, he nonetheless expressed deep humility in being recognised, classifying his giant strides as ‘modest achievements and contributions to Africa’.
“Humbled to be nominated by what I gather to be 60% of the votes cast by some 1 million people, humbled to be at the helm of an organisation that is making a tremendous difference across Africa – the African Development Bank. An organisation that is daily making prosperity a reality,” he said.
He dedicated the award to his wife, Grace, the Board, staff, and colleagues at the bank, his mother, and “to the young mothers, struggling to bring up a child, to the farmer in search of a better tomorrow, to the youth of Africa longing for a better future, and to Africa’s journalists who risk their lives in helping to tell Africa’s true story.”
The truth remains that Adeaina has never reneged in achieving the feats.
Under his leadership, the AfDB helped over 18 million people get electricity, 141 million people get agricultural technologies, 13 million people get finance through private sector investee companies, 101 million people get improved transport services, and 60 million people get better water and sanitation.
“Africa does not need anyone to believe in her or to affirm her place and position in history. Africa will and must develop with pride. For right on the inside of us, as Africans, lies our greatest instrument of successes: confidence!” Here is a man who loves Africa with an undying passion.
It is worth mentioning that under Adesina’s leadership (2015–2025), AfDB achieved a historic capital increase, soaring from $93 billion in 2015 to roughly $318–$325 billion by 2025.
On January 16, 2020, Adesina came face to face with what can arguably be termed the greatest challenge of his career if not his life when allegations of ethical breaches were leveled against him by whistleblowers with the backing of the United States of America. The complaint was conveniently leaked paving the way for assault and a smear campaign.
Consequently, a high powered Ethics Committee, comprising Executive Directors representing shareholder nations, deliberated over every single dot and cross of the allegations, and in May 2020 gave Adesina a clean bill of health. In their words, the allegations were frivolous, baseless, and without merit or evidence. The report and conclusive deliberations of the Ethics Committee was subsequently sent to all Finance Ministers, better referred to as Governors of the Bank’s 81 shareholder counties, including the United States for ratification.
Not even one of the allegations stuck, making the originators bow their faces in shame. A cross section of respondents told The Boss that Adesina would have to be removed as President of the Bank and made ineligible for re-election originally scheduled for May 2020 if one allegation has scaled through.
Adesina’s watertight innocent was upheld by almost everyone that has a voice from across his country of birth, Nigeria, and across Africa.
The Nigerian government protested on his behalf that the governance procedures of the Bank during the investigation were followed to the letter including painstaking analysis of facts, evidence and documents. It noted that the whistleblowers were even prevailed upon to produce any more evidence at their disposal, but they failed they do so. It therefore, wondered at the sudden turnaround of the United States to call for another ‘independent investigation’.
“The Ethics Committee, following three months of work to examine the whistleblowers’ allegations made against the President, dismissed each and every one of the allegations of the whistleblowers against the President as unsubstantiated and baseless.
“The Nigerian Government welcomes this conclusion of the Ethics Committee and the decision of the Chair of the Board of Governors”, the statement read. The probe committee was headed by Takuji Yano, the institution’s Japanese Executive Director.
Towing the line of the Nigeria government, a former President of Nigeria, Chief Olusegun Obasanjo, mobilised former African leaders to the rescue of the embattled president. In a letter, the former leader personally signed and copied about 13 former heads of state, cutting across all regions of Africa, Obasanjo proposed that the leaders jointly issue a press statement to support the laid down procedures embarked upon to evaluate the allegations against the President of the Bank.
Just as the Nigerian government, Obasanjo went further to highlight Adesina’s achievements, noting that under his leadership AfDB “has been actively positioned as an effective global institution ranked fourth globally in terms of transparency among 45 multilateral and bilateral institutions.”
Other achievements include taking bold measures to ensure the bank can respond proactively to support African countries and got its board of directors to approve a $10 billion crisis response facility to support African countries during the thick of the COVID-19 pandemic as well as successfully launching a $3 billion ‘Fight COVID-19’ social impact bond on the international capital market at 0.75 per cent interest rate.”
Africa Leaders, on their part, under the aegis of Concerned African Leaders, released a statement titled Leadership of the African Development Bank: A Need for Caution, announcing their solidarity with Adesina, stating inter alia:
“The African Development Bank is a pride for all of Africa, and its President, Dr. Adesina, has taken the Bank to enviable heights. At this critical time that Africa is battling with COVID-19, the Bank and its President should not be distracted.”
Nigeria’s then President, Muhammadu Buhari, personally assured him that he would stand by him, and was so elated at the announcement of his reelection, saying ‘you deserve it’. He also thanked the African Union for its endorsement of Adesina, and to the shareholders of the bank.
Adesina has been fearless in the discharge of his duties, creating many firsts and stepping on supposedly powerful toes.
“In 2019, he successfully led the Bank’s shareholder General Capital Increase from $93 billion to $208 billion. In the process, he became the first Bank President to take the risk of championing a case for increasing capital for Africa’s development during a first term in office. It was a gambit that paid off in spite of initial strong American opposition.
“In 2018, Adesina championed and helped create the Bank-sponsored Africa Investment Forum which in 2018 and 2019 attracted more than $225 billion in infrastructure investment interests into the continent. This was an unprecedented initiative. The U.S. representative was said to have considered the Forum a departure from the Bank’s original mandate. Some also saw this as an attempt by Adesina to help wean African nations off a dependency on foreign aid. Some critics also suggested that Adesina was attempting to burnish his credentials among African Heads of State via the investment forum.
Much as everyone acknowledges the sustainable development of the AfDB, it must be noted that Adesina, through a dint hard work propelled by intelligence, determination and legacy-inspired zeal, built the African Development Bank into a world class financial institution. The following indices can be considered:
*For ten straight years, maintained AAA credit ratings for the African Development Bank by all the 3 major global credit rating agencies, Moody’s, S & P Global ratings and Fitch ratings—reinforcing the Bank’s position as the only financial institution in Africa with a AAA credit rating.
– The African Development Bank was rated as the Best Multilateral Development Bank in the world by Global Finance.
– The African Development Fund (the concessional financing institution of the Bank) was ranked as the second best concessional financing institution in the world, ranking above all the 55 concessional financing institutions in all advanced economies of the OECD.
– The African Development Fund innovated and developed a market borrowing framework that would allow it to raise over $25 billion from the global capital market. This was what allowed the Fund to raise additional funds for its recent replenishment.
– The African Development Bank was ranked as the Most Transparent Financial Institution in the World for its sovereign lending to countries.
– In the 10 years he held sway, Adesina developed and secured board’s approval for the building of a new world-class headquarters building for the African Development Bank Group.
Adesina was literally a star on the job; a typical example of a round peg in a round hole. He wore the job, and many other of his endeavours as a fitting apparel. He was, and is still that good.
Adesina is not all work however, he is reportedly very close to his God. While at Purdue University, he, his wife, along with another couple, started a Christian group called the African Student Fellowship. He and his wife Grace have two children, Rotimi and Segun.
The accomplished technocrat and reputable entrepreneur is sure to quadruple his achievements of the last couple of years by the way he is going. He was one AfDB president many wished he continued in office even after the expiration of his 10 years stewardship.
Congratulations sir!
By Eric Elezuo
Romuald Wadagni is not new to Benin politics, neither is he new to administration, especially in the area of financial reorientation, recovery and development. He has professionally steered the Finance and Economy ministry of his country for 10 uniterrupted years after serving as a finance guru with top finance films including the renowned Deloitte. Wadagni is an enigma, and of course Benin’s choice to be president come April 12.
Below is a text delivered by the frontline presidential candidate for the forthcoming Benin Republic Presidential election, Romuald Wadagni on his stewardship, and the expections for the average Benoise:
Over the past few years, our country has achieved what many thought was impossible. With vision and courage, we have proven that when a people decide to take charge of their own destiny, nothing can stand in their way.
The progress we have made and the efforts contributed by all now give us the means to deploy a new complementary development approach that will eradicate extreme poverty and ensure that prosperity reaches every household. This is the challenge we must take on together.
Tomorrow, every Beninese, every young person, wherever they may be, must be able to find an opportunity within reach. Our ambition involves establishing regional development hubs, giving a more prominent role to the private sector, and fully harnessing technology. The goal is clear: to create wealth for all and improve living conditions across the entire country.
This program is the logical continuation of what we have started, and the beginning of what I propose we accomplish together: to build an even greater Benin—the Benin of our dreams.
Romuald Wadagni
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