By Eric Elezuo
“I am delighted that Mrs Abdulrazaq is joining our Board. This appointment demonstrates once again our commitment to the highest level of governance, human capital investment and diversity and inclusion across all layers of our business. Mrs. Abdulrazaq’s reputation as one of Nigeria’s senior business leaders and public servants, coupled with her track record of championing the role of women in business will be an inspiration. I am also pleased to announce her appointment as the Vice Chairman, the first occupant of this role in the history of Transcorp.”
Those were the words of first class entrepreneur and Chairman, Heirs Holdings, United Bank for Africa among other establishments, Mr. Tony Elumelu, when Mrs Foluke Kafayat Abdulrarazaq, was appointed as the Vice Chairman, into the board of Transcorp Group. She is the first to occupy the position. She is an amazon of a woman, who draws in her trail accolades of no mean value. She is a woman of means.
Born on April 16, 1956, the brilliant financial expert from the famed Abibu Oki family of Lagos State and the Labisi Olugbesan clan of Ibadan, Mrs Abdulrazaq, better known as FKA, is reputed as the brain behind the success story of the administration of the then Colonel Buba Marwa as the Military Administrator of Lagos State with her most efficient revenue generation template. Till date, she remains the only female Commissioner for Finance Lagos has ever had. Just as she was is the first Vice Chairman of Transcorp. To her credit, the broad policies on which Lagos State’s Accelerated Revenue Generation Programme (ARGP) were formulated during her tenure.
A veritable egghead in the game of figures and numbers, Mrs AbdulRazaq attended the Yaba College of Technology and Kwara State College of Technology, where she obtained her OND and HND (Accountancy) respectively. She followed up her quest for standard academic tutelage with a Master of Science degree in Banking and Finance from the University of Ibadan. There after, she attended the Harvard Business School, Boston, USA, where she is a proud alumnus.
Prior to serving in exalted government positions, Mrs Abdulrazaq had sharpened her financial teeth, and by extension skills, having served and performed in various financial institutions albeit successfully. In the first instance, she worked at the defunct International Bank for West Africa (IBWA) which metamorphosed into Afribank. She later worked at Credite Bank Nigeria Limited from where she was appointed by the Central Bank of Nigeria and the National Deposit Insurance Company (NDIC) as the executive chairman of the Interim Management Board of the bank.
In 2008, she was made a Non Executive Director of the United Bank for Africa Plc (UBA), a position she held till 2020. A whopping 12 years! During her tenure she served on various committees. She was the chairman of the Bank’s Board Credit Committee as well as member of the Statutory Audit, Nominations and Governance committees till November 2019.
Her areas of expertise span through finance, banking, stockbroking, business and of course public office. And for all her endeavours, she left a distinctive record of service. In June 2020, she was elevated to the post of Vice Chairman of Transcorp PLC, a diversified conglomerate.
During her brief spell as a public servant, where she excelled and left her prints in the sand of time, she was the Lagos State Commissioner for Finance, and later, Women Affairs and Social Development. This was between 1997 and 1999. In due course, she took up appointment with the Nigerian Security Printing and Minting Company Limited, and headed several departments, including Administration Management Services, Commercial and Corporate Development while the appointment lasted. Also between 1999 and 2001, she was the Executive Director, ML Securities Limited, a stock brokerage firm.
That is not all, she also served on the board of Nigeria’s largest construction company, Julius Berger Plc from1997 to 2000 as a Non Executive Director and Vice-President, Bank Directors’ Association of Nigeria (BDAN) amongst others. Madam Abdulrazaq is a bundle of experience and professionalism.
At the moment, the woman fondly called FKA is a member of the Institute of Directors (IoD), Women Corporate Directors, National Council of Executives (NASFAT), Board of Trustees (Fountain University Oshogbo), Olave Baden- Powell Society (OBPS) and Sarah-Adebisi Sosan Foundation.
Her honours come in avalanche as a reward to years of selflessness and hard work. In 1999, AbdulRazaq won the coveted “Lagos State Woman of Excellence” Award and was appointed Justice of the Peace (JP).
Combining finance expertise with education, she passionate founded the prestigious Bridge House College in Ikoyi, Lagos, in 2004. The institution is an independent private sixth-form co-educational centre with the aim of bridging the gap for High School leavers to cross to universities of their choices all over the world.
FKA lives a spartan life, affecting individuals who come across her path with tutelage, mentorship and monetary resources to live the best life can offer. She is without a doubt generous to a fault.
A firm and dutiful family woman, Mrs. AbdulRazaq is happily married to Dr. Alimi AbdulRazaq, a distinguished lawyer and arbitrator, prominent politician and accomplished businessman, who took after his father, the revered Alhaji AGF AbdulRazaq, a Senior Advocate of Nigeria. Between FKA and her husband, they blessed with adorable children and grandchildren.
As you celebrate a landmark 65 years, we wish you the best life can give. Happy birthday ma!
