The curious case of the young generations by FEMI PEDRO
"Sometime in 1988, I received a call from a good friend, Mr Akin Akintoye, about an interesting investment opportunity with a few colleagues. After a series of meetings, it became very clear to me that we were about to embark on an audacious but incredibly special journey, and I was excited about the prospect of being a part of such a project. For almost 2 years, I worked alongside the likes of Akin Akintoye, Fola Adeola, Tayo Aderinokun (of blessed memory), Gbolly Osibodu, Bode Agusto and a few others on this investment project. As of 1988 when we began the journey, Fola was 34, Tayo was 33, Gbolly was 33, Bode was 33, Akin was 35 and I was 33. The objective: To own a BANK.
It was a bold objective considering our respective ages at the time, but certainly not an impossible task in our eyes. So we began to hold countless meetings at Fola’s residence in 1988, until we eventually shifted base to Tayo’s First Marina Trust office in Victoria Island. By late 1989, we were ready to put in our bank application at CBN, along with the required minimum capital. This effort was spearheaded by Fola and Tayo (the two brains behind the entire operation), and supported by about 40 persons (including myself), most of whom were in their early 30s and working for different organizations at the time. The end product? We formed arguably one of the finest financial institutions Nigeria has ever seen- Guaranty Trust Bank (known as GT Bank today). The bank was licensed on the 1st of August, 1990 and we commenced banking operations later that year. A group of young boys in their early/mid 30s OWNED a bank! We simply dreamt big, and turned this dream into reality.
I am taking the liberty to reflect on this chapter of my personal history against the backdrop of some of the criticism about the ages of some of President Muhammadu Buhari’s ministerial nominees. The argument being brandished about is that by nominating the likes of Chief Audu Ogbeh as ministers, our President is somehow blocking the destinies of younger Nigerians by preventing them from occupying such positions. People are quick to reference Yakubu Gowon and Murtala Mohammed as being relatively young when they ascended to power, and they argue that the same opportunities that young people had in the past are no longer available today. They also argue that around the same time we were forming GT Bank in the late eighties, there were also a number successful young entrepreneurs who distinguished themselves as well - Bola Tinubu (Treasurer at Mobil Oil), Gbade Ojora (ED Mobil Oil), Jim Ovia (Zenith Bank), Erastus Akingbola (Intercontinental), Dele Momodu (Publishing), Tony Elumelu (Standard Trust), Liyel Imoke (Politics), O’tega Emerhor (Standard Alliance Insurance), Aig Imoukhuede and Herbert Wigwe (Access) and Atedo Peterside (IBTC) are some of the noteworthy youngsters who made an impact in various fields in Nigeria at the time. But what some of the proponents of the argument against the older ministerial nominees fail to realize or remember is that even in my early thirties, we also had very established industrialists like MKO Abiola, Otunba Subomi Balogun, etc, who all operated during our time. We respected them, but neither felt overwhelmed by their success, nor daunted by the prospects of climbing up the ladder. We simply forged ahead with our plans and damned the consequences. The point is nobody cleared the way for us back then, so young Nigerians today should not expect that anyone would clear the way for them either.
Perhaps, at play is the venting of some on-going frustrations by the younger generation today, but it is important to put things into proper perspective. I have spent a lot of time mentoring, observing and interacting with young Nigerians. Today’s youth are no different from those of my generation about 30 years ago. They are faced with the same pressures, frustrations, uncertainties and life vicissitudes that we faced then. If you they can have the knowledge to vote for you, then they can likewise have the knowledge to lead.