AKINFELA AKONI…the seasoned legal professional with consummate multi-national experience

Biography

A lawyer with over 15 years’ experience in mergers and acquisition, telecoms law, corporate finance law, regulatory affairs, litigation and investor relations, Akoni is a well-rounded international professional with multi-national experience spanning over 20 countries in Europe, Africa and the Middle East. Until recently, the Group Legal Counsel for Bharti Airtel in Africa, Akoni had direct responsibility for all legal issues and a team of Legal Counsel and Officers across Africa with primary responsibility for the territories of Anglophone and Nigeria comprising 10 countries in Africa. He also served as a board Member in several companies within the Bharti Airtel Group. His exploits as an in-house counsel resulted in his recognition as one of the 100 Corporate Counsel in Africa by the renowned publication Legal 500.

Fela Akoni is now the Chief Executive of WOODBERG, a niche advisory body facilitating investment and development in Africa. Akoni, a tested lawyer, transformational leader and an exceptional manager of resources has recorded great achievements in his career as a professional lawyer. He played an influential role on major multi-jurisdictional commercial agreements including joint venture agreements, infrastructure agreements and outsourcing agreements with Ericsson, NSN and IBM. He has also advised on multi-jurisdictional USD financing agreements and equity/debt fund raisings including structuring of intra-group arrangements across Africa and the restructuring of a USD 1.2 billion facility in Nigeria. A recipient of Bachelors and Masters Degrees in Law from Cambridge University, Akoni also advised on the legal and regulatory issues in connection with the creation and rollout of new businesses across Africa including Tower Companies, Mobile payments/M-Commerce, Direct-To-Home services. He further played an important role in the rebranding of several businesses across Africa and provided comprehensive legal and regulatory advice including resolving both contentious and non-contentious Intellectual Property matters. In addition, Akoni is a Biochemist by training having obtained a first degree in Biochemistry BSc (Hons) from the University of Sussex (UK) and, whilst at GlaxoWellcome, was a member of a team of scientists that developed the leading Anti-Viral drugs, Acyclovir and Valaciclovir. Akoni is married with two daughters. In his spare time, he loves to travel and listen to music. He is a former President of both Cambridge University of Nigeria Society and Sussex University Nigeria Society.

Early years

Growing up was very memorable and enjoyable – I remember always having a house full of relatives, friends and well-wishers! My brother and I were the younger kids at home and therefore we had a very relaxed time growing up with our parents. We did everything together – travel, church and family events. As long as we concentrated on our studies, our parents were quite accommodating. We left to go to boarding school at 11 so it is all a bit of a memory now. The experience has taught me to be accommodating and giving. However, it is important to be self-driven to give your best.

Biochemistry to law?

I started life thinking I was a scientist. I read sciences for A Levels and I went to Sussex University to read Biochemistry. Thereafter I got a job with Glaxo Wellcome (UK) for three and a half years doing clinical research, specifically into herpes viruses – Zovirax and Aciclovir. My father was a Pharmacist, so there was always the intention to read Pharmacy. But I guess somewhere along the line it wasn’t my chosen career path, and in 1996 I got admission to Cambridge University to read law. The rest is history, as they say.

Experience and departure from Airtel

The experience at Airtel (actually starting with Celtel) was a great one – I was involved in quality work, I travelled across many jurisdictions and development a great understanding of the corporate culture across many countries. If you believe in the old adage, one door must close, for another one to open, then leaving Airtel gave birth to Woodberg!

Managing a pan-African legal team of internal, external counsel while with Airtel

I would say the common denominator is common law. That helps because being English law-qualified and trained and practised at Linklaters (City Law Firm), you have a fairly good understanding of common law. Each of them will have their nuances on the corporate side, but essentially that common law thread goes right across the relevant countries. Now, doing business generally, I think you need to appreciate the nuances per country; professional nuances, cultural nuances. Working closely with the legal counsels is important as well – they are part of the team, and you sitting in the centre will not be able to address every single point. You’ve got to rely on and trust your legal counsels to raise the flag (if there is a red flag to be raised), and keep you posted as things go along. So that aspect of creating a good working relationship with members of the team is key, otherwise you’ll be forever on planes, trying to resolve issues.

Oxford Cambridge Club

The Oxford and Cambridge Club of Nigeria is a non-profit and non-political organisation. The objectives of the Club are to provide a forum for individuals who are alumnus of the University of Oxford or the University of  Cambridge, each in the United Kingdom, to interact and to promote social contact between alumni of these two Universities residing in Nigeria, to sponsor lectures, talks or seminars and organize other projects consistent with the objects or otherwise calculated to assist or enhance the education of any person in or from Nigeria, to arrange for the holding of an Oxford and Cambridge celebration in the form of a May Ball and other social gatherings on such other occasions as the Executive Committee shall deem desirable and to promote community based activities for the development of Nigerians and Nigeria. As President, I am responsible for steering the affairs of the Club. In terms of what we want to achieve for the Club, we want to continue to build a reputation for intellectual thought leadership, attracting leaders from the business, diplomatic and academic cadres to our events.

Woodberg Group

Woodberg Group was founded in 2015. The experience gained working across Africa spurned the creation of Woodberg Group. Our vision at Woodberg Group is very simple – To create a world class corporate advisory organisation facilitating investment and development in Africa. Our mission on the other hand is to be the preferred corporate advisory organisation, engaged by both Public and Private sector participants, to execute investment and development projects in Africa.

Facilitating investment, development in Africa

We aim to achieve our goals through a team of highly competent and experienced professionals with sector specific expertise tailored to the individual needs of our clients. We rely heavily on our network and the goodwill established over the years and like any other services business, we rely on referrals and recommendations.

Restructuring of a USD 1.2 billion facility in Nigeria

We inherited a complex structure of bilateral agreements with almost all the banks in Nigeria. Standardising the agreements enabled us to seek better terms for the company. I believe the Banks were also satisfied with the outcome.

Greatest feat achieved in career

Being part of the team that brought Celtel/Zain to Nigeria through the acquisition of a significant stake in Vmobile in 2006 was indeed a great one. Although Celtel/Zain were in some other African countries, over the next 4 years the Group grew to a footprint of 15 countries in Africa culminating in the multibillion dollar disposal to Airtel in 2010 by Zain. As you know, the telecoms industry is heavily regulated. Therefore, a full understanding of the Legal and Regulatory regime in each of the countries the Group was trading was essential to a successful footprint across Africa. I am grateful to have been responsible for the legal counsels for Anglophone and Nigeria.

Nigeria’s current state of economy

Nigeria’s affairs are not easy to master. There is a democratically elected Government who is empowered to deal with the economy (amongst other matters) – let’s give them more time. There is a myriad of political advisers and commentators – I am sure they will be in a far better position to advise the Government. I do have a view on the way forward, Nigeria must strengthen her governance structures in both public and private sectors.

How do you relax?

I enjoy the company of my family and friends. I enjoy playing tennis and an avid supporter of Tottenham Hotspur in the Premiership in the UK. I have a collection of the works of Ebenezer Obey, Sunny Ade and Fela – there is nothing more pleasing than alternating the CDs on a Sunday afternoon. I enjoy reading biographies

KEMI AJUMOBI