Bola Matel-Okoh is an attorney with over 30 years of experience in diverse areas of judicial science. She holds a LL.B (Hons) degree in Law from the Olabisi Onabanjo University and is admitted to the Nigerian Bar as well as the New York State Bar. Her legal experience spans the areas of Admiralty Law and Immigration Law, as well as participating in the final phase of a multi-billion insurance class action litigation.
In 2015, she was appointed Non-Executive Director at Wema Bank PLC. She is well-trained in the effectiveness of corporate boards, risk management and advanced strategy for directors. She has received training at IMD Lausanne, Switzerland, INSEAD in Fontainebleau, France, as well as Harvard Business School in Boston, USA.
A certified executive coach, she serves as the Lead Coach, Founder of BMO Advisory Services, and Founder of The Women’s Lifestyle Hub.
What drives you and how has it helped you become who you are today?
I love challenges because they help me to build my capacity, and as I evolve into new roles, I am presented with opportunities to do just that. For as long as I can remember, I have never been satisfied with being just okay. This has made me very intentional in the pursuit of excellence in all that I do. I have also made self-development a priority at every point in my career path to acquire the necessary skills and resources to function in the different roles I have found myself in. Most importantly, as a person of faith, I believe that God multiplies your effort by releasing grace to excel.
What role does coaching play especially in the lives of women executives?
Coaching is an avenue to develop people’s skills and abilities in order to boost their performance in the targeted areas. Coaching supports people at every level in becoming who they want to be, it helps to build awareness, empowers choice and leads to change. As a coach working with executive women in particular, I have products specifically curated to help women in this space attain personal and professional excellence and all-round success.
What are some of the significant challenges and biases you have experienced in your 30 years+ career as a professional, and how have you been able to hurdle through them to advance?
There are quite a few challenges that I have experienced in the course of my professional career. Firstly, as a young wife and mother trying to move up in the corporate ladder, it was really difficult juggling the different roles and finding a good balance where I did all that I needed to do to ensure I excelled at work, while also giving enough time to my husband and children so as to avoid “the mummy guilt” that is common with many executive women. Secondly, there was the challenge of having to constantly prove myself which led to having to shoulder a greater workload than my male counterparts which was really tasking most of the time.
Thirdly there was the challenge of maintaining composure even in the most difficult of circumstances. This was by no means easy because of the many stereotypes that have been placed on women in the executive space. I always say that a man who is trying to move up in the corporate world is described as being “driven to excel” while a woman trying to do exactly the same thing is described as “overly ambitious”. Unfortunately, this lack of parity is a major hurdle that women face in the corporate space.
Share your experience being non-executive director at WEMA so far
I have been on the board of Wema Bank for eight years now, and it has been a journey of growth and development. When I joined the board, I was the youngest person on the board and did not have a background in banking. As someone who loves to take on challenges, I was determined to do what needed to be done to carry out my responsibilities excellently and to the best of my abilities. One of the decisions I took in order to be able to do this was to look for someone who was experienced in the banking industry to mentor me. Being able to draw from her wealth of experience has certainly made a significant impact on my career path. The opportunity to attend training both locally and internationally has also played a big role in learning the ropes, and it has been a rewarding albeit challenging experience.
Are there enough women on boards? What can women do to increase the numbers?
Absolutely not. When I joined the board of Wema Bank, there were only three women on a board of thirteen. This is the norm on many boards, not just Wema Bank. In the years since I have been on the board, there has been some effort to create some gender balance but as of today, the men still outnumber the women on the board. We, women, need to keep speaking out about this inequality in a unified way and maintain a united front. Like my mentor, Ibukun Awosika says “Women hold power in silos but when we combine our powers, we have superpower which we need in order to make any meaningful impact”. We must also constantly deliver at the highest level so as to make our demands justified.
Being admitted to the Nigerian and New York state bar, what differences and peculiarities would you want to share?
The Nigerian Bar is modeled on the British legal system, so we wear wigs and gowns and court proceedings are very formal, while the legal system in the United States is less formal in terms of dressing and how you address the court. Also, as a member of The Bar in Nigeria, you can practice in all states of the federation. However, in the United States, you need to be admitted to the bar in any particular jurisdiction in order to be able to practice there. As a foreigner, the two jurisdictions that allowed you to take their bar exams without additional credits were New York and California. Since I was in New Jersey, I opted to take the New York Bar exam which was notoriously difficult. I was told there were people who sat for the exam as much as five times before passing it. Never one to back away from a challenge, I signed up for a bar review course and I am happy to say I passed the exam on my very first try. It was really quite gratifying because there were fundamental differences between the American legal system and our legal system in Nigeria.
Young lawyers often feel there isn’t space for them at the top of their career and branch out to other areas of interest. What advice do you have for them?
The legal system is stacked at the top, this coupled with the number of people who are being admitted to the bar on a yearly basis makes the legal profession very competitive. If you do not find yourself in an established law firm and you are not sufficiently connected, it can really be tough to make headway in the legal profession. My advice is to be determined and take advantage of opportunities that come your way because this is bound to happen if you are committed and consistent.
What advice do you have for young ladies who desire to make it to the top of their career?
It is important to have a clear vision of where you are going because it is your vision that propels you to action, and your vision provides motivation and drive when the going gets tough. Also, it is important to constantly invest in self-development. I always say that today’s excellence is tomorrow’s mediocrity, so there must always be a focus and determination to keep honing your skills so as to remain competitive and be able to deliver at the highest level consistently. Finally, you have to surround yourself with the right set of people that will help you accomplish your vision and goals.
What role did mentorship play in your success journey, and what is your take on mentorship or the lack thereof?
Mentorship has played and continues to play a big part in my professional journey. The mentorship relationship is based on mutual trust, respect, and open communication. Mentoring has a lasting and positive impact on the mentee’s career. Unlike coaching, mentoring is a long term, relationship-based and highly personalised approach that focuses on the overall career and personal growth of the mentee. Most times, a mentor has walked the path that the mentee is trying to walk, so, this helps to boost the confidence of the mentee as they look to chart the same path. A lack of mentorship can hurt a person’s prospects, and cause such a person to be unsure of the progress they can make in their careers. From my personal experience, mentoring is a great and indispensable tool for personal growth and career development.
As the lead coach at BMO advisory services, what has made your efforts worthwhile?
For me, the most rewarding part of being a coach is to see the transformation that takes place during the coaching journey. I just graduated the first cohort of my leadership induction program with eighteen amazing ladies, and it was really heart-warming to hear them share their testimonials about the program. It was even more fulfilling because I ran the program at a time when I was going through the painful loss of my mother who recently transitioned to glory.
Where do you see Women Lifestyle Hub in the next five years regarding its impact?
My vision for Women’s Lifestyle Hub in the next five years, is to create a network of women who are committed to excel in their personal and professional lives, while also building long term strategic relationships. I always say that the notion that women do not support women is an absolute myth! My vision for Women’s Lifestyle Hub is to burst that myth by connecting professional women with seasoned mentors to help them be the very best that they can be.
You are also in the beauty business, N Lounge & Spa. What inspired the beautification and wellness centre?
I kind stumbled into the beauty business. A few years back, a friend of mine had invited me to what she called a “Wow Party”. It was a demonstration for a line of skin care products which I eventually signed up to market. This clicked my interest in the beauty industry and the rest like they say is history. Today, N Lounge and Spa is a full-service spa that caters to your overall beauty and wellness. The plan is to extend our services into other areas of the health and wellness sector that we don’t currently service.
What does the ‘next level’ look like for you?
That’s an interesting question and depends on which of my many passions you are referring to. My major focus at this time is my coaching programmes and Women’s Lifestyle Hub because of the impact I desire to make in the lives of executive women because of the peculiar challenges they face. I am excited about breaking ground on the Women’s Lifestyle Hub’s Clubhouse which will be a place of empowerment, relaxation and connecting for members of the hub.
What is essential for career growth?
Growth in your career is achieved by setting smart goals and doing all that is necessary to accomplish your goals.
How can you rate your growth in your journey to building your brand identity as Coach BMO, from when you started up until now?
As someone who is constantly looking to excel, I can be quite hard grading myself. Like my dad used to tell me when I was growing up, there’s always room for improvement. For me, the most important thing is that I have been able to build a good foundation for the brand, thanks to the solid coaching and mentoring that I have intentionally cultivated. One thing that has helped me in building my brand is the willingness to make the investment needed to do so. I have some level of satisfaction with what I have been able to accomplish so far, but there are many things I am looking to do with the brand by the grace of God.
If you could go back in time to change anything, what principles do you uphold now that you believe would have benefited your younger self?
I honestly don’t know if I would change anything. The principles I live my life by now are the same principles that I have always had. The values of faith, integrity, loyalty, commitment and excellence that define who I am now have very much been the same values that have shaped my life till now. There is no wasted experience in life, and everything I went through as my younger self is what has made me the person I am today. Knowing what I know now, the advice that I would have given my younger self is “Don’t sweat it, you are going to be just fine!”
You have successfully built financial prowess and career stability. What fundamental money tenets do you uphold sternly in ‘securing the bag’?
I am a very practical person. I like the fine things of life, but I do not believe in breaking the bank to do so. I am very comfortable in my own skin, and I have been known to keep an eye on something I really want until it is on sale or drops to a price that I am willing to pay at any particular point in time. Saving and investing are also very important in building financial wealth. At the end of the day, it’s about having the right priorities that will help you accomplish your financial goals.
What is the best career or business advice you have ever received, and from whom?
Wow, I would have to say, “People buy you before they buy what you are selling”. This is to say that the way people perceive you is key to your success in your career or business. The first impression that people have about you goes a long way in determining whether or not they want to associate with you.
From your personal experiences or through your coaching journey, what piece of career or business advice would you want to share?
It takes intentionality to succeed in career and business. You have to be intentional about what you want to accomplish, what it is going to take to do so, and be committed to the process. There may be bumps along the way, but if you stay the course, you are guaranteed to be successful at the end of the day.
How do you merge all that you do and remain grounded?
I have never been titled crazy, and so I don’t let titles get to my head. I believe that you don’t have to be overbearing to be a good leader. Respect is key, but as long as boundaries are respected, I really do not have any issues with relating with people on any level whatsoever.
What would you say is the goal for the BMO brand?
The goal of success of the BMO brand is to be known as a brand that is creating impact in the executive space guided by our core values of excellence, integrity and faith.
