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Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh - Politics (2) - Nairaland

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Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by MrCrackles(m): 4:25pm On Aug 19, 2009
Interesting posts. . .
I dont know both of them but i remember the time, my father was following the situ. closely!
So where is the Femi Adekanye guy now?
I believe it is the other one Ralph Osayameh who is lecturing in South Africa now right?
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by Nobody: 5:31pm On Aug 19, 2009
Adekanye went religious in prison.He learnt the lesson of life; from a respected CEO and CIBN president wt a palatial residence in Ikoyi, he found himself in prison jackets. When he was released, he strove to revive the bank, sought legal redress, went to Oputa panel, but nobody took him serious. Many people betrayed him.

Shortly after his release, I spoke wt him on phone and also met him @ his magnificent countryhome in Kwara(remember I said he used to be my role model) and he mentioned his ordeal to me and how he had been wretched, wt virtually all his properties sold.

Later, he relocated to Germany. But the last I heard about him, and that was a couple of days ago, was dat he's now a lecturer in SA. This life!
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by Nobody: 5:48pm On Aug 19, 2009
Like Akingbola, Adekanye was also a philanthropist to the core. He helped a lot of people, people he knew and those he didn't know, gave scholarship to many people, close to MKO. Infact, his house was just a stonethrow to MKO's in London.(The house was later sold when wahala started )He was flamboyant though, and indeed their era marked the beginning of flamboyant banking in Nigeria. Posh cars etc. He was regularly praised by Yoruba fuji musician,Ayinde Barrister, in his early 90s albums(Anyone remember barrister's song:Aaweeda, omo Adekanyeeee. . .) That was when d ovation was loudest.

Suddenly came the failed bank saga and the rest is now history. All the beneficiaries of his largeheartedness disappeared. They began to say ''so he had been spending bank money all ds while''. With his closest friend,Ralph Osayameh, and others like Otunba Femi Ajayi, they were hurled in prison.
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by MrCrackles(m): 8:43pm On Aug 19, 2009
Jarus
Ol boy tell me something. . .
People are like that though, they flock around you when you have and when you go bust, they leg it!
I pity the Adekanye dude and others oo. . .
Does he still own his magnificent home in Kwara?
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by mbulela: 5:34am On Aug 20, 2009
Jarus, since you know a lot about the story, could you throw more light on the moves of Gamaliel Onosode and Wakilin Adamawa?
i know both were directors of the bank and Gamaliel resigned from the board just before the collapse.
i will appreciate your insight.
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by otokx(m): 6:06am On Aug 20, 2009
They will always say they were "fine respectable gentlemen" who could not hurt a fly
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by mbulela: 6:18am On Aug 20, 2009
i always take those words with a pinch of salt.
especially in Nigeria.
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by Nobody: 9:00am On Aug 20, 2009
mbulela:

Jarus, since you know a lot about the story, could you throw more light on the moves of Gamaliel Onosode and Wakilin Adamawa?
i know both were directors of the bank and Gamaliel resigned from the board just before the collapse.
i will appreciate your insight.
Gamaliel Onosode is still around and still highly respected in corporate Nigeria. Remember he was the Chairman(a non-executive position) and could easily exonerate himself, just as the Chairmen and non-executive directors of Intercontinetal, Oceanic and co are being spared in the current tsunami.

However, Adekanye and co accused Onosode and co of betrayal, saying 'boardroom coup' compounded their woes.
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by donald15: 10:38am On Aug 20, 2009
na waaa
shocked shocked shocked
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by GEW: 10:43am On Aug 20, 2009
mbulela:

i always take those words with a pinch of salt.
especially in Nigeria.
if you know mr osayameh in person you will eat your salt fast. the man is a fine gentleman a very rare nigerian.

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Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by MrCrackles(m): 10:51am On Aug 20, 2009
GEW:

if you know mr osayameh in person you will eat your salt fast. the man is a fine gentleman a very rare nigerian.

Interesting.
As you know him, did you manage to speak to him at all about what happened and all?
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by kokoA(m): 10:58am On Aug 20, 2009
mbulela:

i always take those words with a pinch of salt.
especially in Nigeria.

God bless you. Every Nigerian big man can hurt a fly these days.
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by Nobody: 11:15am On Aug 20, 2009
MrCrackles:

[font=Lucida Sans Unicode]Jarus
Ol boy tell me something. . .
People are like that though, they flock around you when you have and when you go bust, they leg it!
I pity the Adekanye dude and others oo. . .
[b]Does he still own his magnificent home in Kwara?[/[/b]font]
His Ikoyi and London homes had been sold but his Kwara countryhome is still there, though not well maintained and has lost its lushness!
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by kokoA(m): 11:19am On Aug 20, 2009
Jarus:

His Ikoyi and London homes had been sold but his Kwara countryhome is still there, though not well maintained and has lost its lushness!

Eyah! From grace to grass.
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by Nobody: 11:36am On Aug 20, 2009
kokoA:

Eyah! From grace to grass.
That is why the Akingbolas and the Ibrus should thank God their own yansh were not opened during military era.
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by MrCrackles(m): 11:38am On Aug 20, 2009
Jarus:

That is why the Akingbolas and the Ibrus should thank God their own yansh were not opened during military era.

You are damn right. . .It couldav been worse for them both
Fingers crossed, let us see how events unfold!
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by mbulela: 1:42am On Aug 21, 2009
Jarus,
I am still waiting for your response to my earlier questions.
thanks.
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by Nobody: 6:37am On Aug 21, 2009
I can't recall their specific moves, but I remember Adekanye accusing Onosode of betrayal. Secondly,as non-executive board members, they can easily get away with it.

I read Adekanye's account in his book PRESUMED GUILTY in 2001, so can't recall the details wt exactitude again. Dad had those books then but not sure I can still lay my hands on them again.
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by Nobody: 8:32am On Mar 30, 2010
Latest info I heard on Adekanye is that he is now back in Nigeria, living his life quietly on his hometown.
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by biina: 9:33am On Mar 30, 2010
This thread really brings back some memories. The failed banks and discount houses saga of the late 80s to mid 90s was surely something else. Banking took a back seat to politics as everyone tried to save their necks by swearing allegiance to the powers that be, and  betraying friends and partners to save their own skin.

One memorable case involved some managers and executives of IBWA/Afribank. Initially 13 officers of the bank were accused, but after some major maneuverings, 11 of them became 'witnesses' and only 2 officers (who obviously lacked connections) bore the brunt of the charges and were sent to kirikiri staff quarters.

A lot of chairmen who were ring leaders and masterminds (particularly in the discount houses which were no more than ponzi schemes) ended up going scott free and are now key players in Nigerian politics at various levels. undecided
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by Nobody: 9:54am On Mar 30, 2010
biina:

This thread really brings back some memories. The failed banks and discount houses saga of the late 80s to mid 90s was surely something else. Banking took a back seat to politics as everyone tried to save their necks by swearing allegiance to the powers that be, and betraying friends and partners to save their own skin.

One memorable case involved some managers and executives of IBWA/Afribank. Initially 13 officers of the bank were accused, but after some major maneuverings, 11 of them became 'witnesses' and only 2 officers (who obviously lacked connections) bore the brunt of the charges and were sent to kirikiri staff quarters.

A lot of chairmen who were ring leaders and masterminds (particularly in the discount houses which were no more than ponzi schemes) ended up going scott free and are now key players in Nigerian politics at various levels. undecided
Exactly.
Gamaliel Onosode is still around, stainlessly
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by olaolabiy: 11:31am On Mar 30, 2010
onosode,abiola,atedo or whomever
the fact is :every rich man in nigeria(public or corporate sector) is corrupt.every one of them.as you climb up in life,this will become more open to you.
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by mbulela: 9:19pm On May 23, 2011
ola olabiy:

onosode,abiola,atedo or whomever
the fact is :every rich man in nigeria(public or corporate sector) is corrupt.every one of them.as you climb up in life,this will become more open to you.
na my man o!
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by mbulela: 9:20pm On May 23, 2011
Jarus:

Exactly.
Gamaliel Onosode is still around, stainlessly
very unfair comment.
Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by Nobody: 2:01pm On Feb 24, 2012
Dr Femi Adekanye died on Tuesday. I did a full-page Tribute to him in Thisday of today(Page 34).

Good night, mentor.

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Re: Of Erastus Akingbola, Femi Adekanye And Ralph Osayameh by finetouch(m): 12:49am On Dec 02, 2012
@ jarus U are a gud analyst and a writer i would say,despite Adekanye's ordeal u still care to know abt him until he left this sinful world..am a family friend with Adekanyes..thumbs up

1 Like

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