An innovator’s golden jubilee draws closer

Considering how long echo of his name has dominated the sub-Saharan Africa business landscape, it would come as a surprise to many that he would only turn 50 next year. This astonishment would be heightened by attempts to reconcile his achievements with age, but most young professionals in Nigeria, particularly in the banking sector, serve as valuable resource in chronicling the life of this serial entrepreneur and business leader who propels others to greatness.

He became the poster boy for success when he championed the acquisition of a bank and began to run institution at barely age 35. The development did not only startle the banking industry which was dominated by much older bankers, but created fear of imminent calamity which it was thought would arise from the recklessness that characterised the lifestyle and worldview of men in the age bracket of this maverick. Their trepidation was intensified by the fact that he became a trustee of people’s savings, and implicitly lives, soon after adolescence when most of his contemporaries were still learning the real principles of life and gradually transiting to adulthood.

The apprehension nursed by the very experienced and older men and women at the helms of industry affairs was not unfounded because banking in Nigeria had not transited from analogue mode to its current digital state, signalled by the seat-grabbing of this innovator at the banking sector policy table, because existing record(s) did not confirm existence of any bank steered by his contemporaries at this time, and where there is a limp reference, the velocity of the arrows, the corporate insignia of his transformed bank, foregrounds his achievements. Since 2002, the arrows seem to permanently head in the direction of innovation, responsibility and efficiency.

These tenets outline his leadership style and personality. Like every mortal, his overwhelming triumphs in both professional and personal life do not confer perfection on him. Perfection is divine and exclusive to God, the architect of the universe and creator of mankind. This affirms imperfection of the human being as espoused by the holy books.

Typical of change agents, fierceness exhibited in clearing the path(s) to their envisioned outcomes earns them names and results in misinterpretation of their actions. Oftentimes, they tend to ignore that fact that “nothing is so painful to the human mind as a great and sudden change”, as noted by Mary Shelley. Rather, perceived collective benefits that would arise from doing things differently pump their adrenaline to maximum level each time an opportunity to make life easier and processes more efficient presents itself, and nothing can abate their thoughts because of the clarity of beauty of innovation on their minds.

For this man who has evolved into a social crusader, and more committed to nation building and service to humanity, the American inventor, Charles Kettering’s view – “The world hates change, yet it is the only thing that has brought progress” – describes his mentality. Impacts of the initiatives he has pioneered in his professional life and contributions to the Nigerian society have yet again amplified the wisdom in Gustave Flaubert, the accomplished French novelist’s saying that “The better a work is, the more it attracts criticism; it is like the fleas who rush to jump on white linens”.

Before his retirement in December 2013 as Group Managing Director of Access Bank, he served as a valuable resource for the banking sector and helped in curtailing fleecing of the Nigerian nation through the fuel subsidy claim cavalcade that almost crippled our economy. He interpreted his role as chairman of the fuel subsidy claim verification committee as yet another service to the nation but the task appeared more as a death mission, considering the viciousness of the cabal his investigations would end its access to free billions of dollars!
Although outcome of the investigation saved Nigeria several billions of dollars and underlined the weakness of the logic behind fuel subsidy payment scheme, which was not bringing any benefits to Nigerians, his dedication to the task showed the length he could go to make things work. This astute manager of men and resources does not believe in impossibility provided what you are pursuing is right. His proclivity to redefining the status quo is exemplary, and follows a methodical process that reflects that quality of his mind.

As a leader, he does not push anyone to the battlefield but goes with everyone to his or her battleground. He thinks through his brief(s) and this manifests in the clarity of his instructions, and the ease with which they become actionable. His leadership style enthrals employees and effortlessly elicits their commitment to common or organisational goals, owing to its discernable rational and emotional dimensions.

Over time, he has established himself as a distinct and socially connected leader, seamlessly interchanging between being a motivator and leader. Perhaps the similitude in his leadership characteristics with Sir Alex Ferguson’s is the reason for his admiration of his accomplished Manchester United Football Club manager, even though their choices of successors impacted the impressive records of their brands differently. His choice of successor, Herbert Wigwe, started winning from the point of baton-exchange while Sir Ferguson’s David Moyes could not continue from where the legend stopped!

What could Aigboje Aig-Imoukhuede have brought to bear here? Or, what did he tweak in the Aristotelian saying that “Pleasure in the job puts perfection in the work” which underpins his shared philosophy with Sir Ferguson? The difference he made to this principle facilitated delivery of instant wins for his erstwhile institution, and made him better and greater leader even in retirement.

While we expect a response to this on his golden jubilee, I reckon that Aigboje Aig-Imoukhuede’s expression of his leadership through authenticity contributed significantly to Access Bank’s success. He earned his legitimacy from sincere interaction and engagement with employees, and appreciation of inputs of the constituents of the business ecosystem. Specifically, absence of incongruity between his ideals and actions entrenched people’s faith in him and his belief in teamwork made the post-retirement difference. The evident success and effectiveness of his style have become the norm in corporate Nigeria; most banks are now co-piloted to guarantee arrival at their target destinations.

In his role as the president of the Council of Nigeria Stock Exchange, Aigboje Aig-Imoukhuede, who is also the co-chair of GBC Health and chairman of Friends Africa, continues to challenge the norm. Since his appointment, his ethical perspectives on business practices have become more pronounced in the activities of the Exchange. Indeed, his gait shows that he has come of age and adequately mastered leadership, which he started in his youth.

With his golden jubilee requiring no binoculars to view, Aigboje Aig-Imoukhuede has gradually transited to an era of deeper wisdom and thoughtfulness which makes him more than a trustee of people’s savings, but a servant of the people who needs to continue to lend his inventive mind to the society and apply his leadership principles and business acumen to the growth of the Nigerian economy.
Olusegun Michael Fafore contributed this piece from New Jersey, United States of America.