An outlier’s riveting tale

A popular misconception about eminent entrepreneur and industrialist, Chief (Dr) Oladele Fajemirokun, is that he inherited his wealth. Being the first child of the late High Chief Henry Oloyede Fajemirokun, a prosperous businessman and toast of musicians, including Chief Ebenezer Obey back in the day before his passing in 1978, some assume that he came into money.

However, this couldn’t be further from the truth. The older Fajemirokun was a disciplined man who also had foresight. He took to heart lines from the admonition by the late educationist and writer, J. F. Odunjo, in his famous poem, Ise Logun Ise that people will value whatever they labour for better than just inheriting wealth. “…Ohunti a ko baji’ya fun (Whatever one does not work hard to earn)/Se kii le pe lowo (Usually does not last)/ Ohunti a bafarasise fun (Whatever gain one seriously labours for)/Nii pe lowo eni (Usually lasts with one)” the poem that guided the late investor in handling his first child, reads in part.

Happily, that tough love paid off for the dominant player in insurance, telecommunications, oil & gas, agriculture, supply food chain and manufacturing, who was motivated to step out from his father’s shadow to build his business empire. “Contrary to widely-held belief, I was not born with a silver spoon in my mouth,” he discloses. “There was no spoon at all when I was born. Along the way, until my father died, 27 years into my earthly life, I never tasted the silver spoon nor the special privileges associated with children of a wealthy father. I never travelled abroad, never went on summer holidays nor attended elite schools; instead, I started school at St Peters, Ajele. Most holidays, I was sweeping the floor in my father’s warehouse or working as a tally clerk in his Clearing and Forwarding Company, and later, during secondary school and as a university undergraduate, as a clerk in the bank. My dad never believed in giving me pocket money. It was a concept that was alien to him, but only as far as it concerned me. He believed that I had to earn my keep. He made me open a passbook account, which he kept and occasionally made me withdraw money for my siblings. This action of my father created the working hunger for money and survival all my life.”

To serve as inspiration to others and to also accurately document his own life, Fajemirokun bares all about his formative years, struggles, conquests as well as important milestones in his autobiography, The Making of Me–My Odyssey in Business which will be unveiled on July 15 at Civic Centre, Victoria Island, Lagos.

• I used to party hard, just like my father —Osuntokun

Though he could have let others tell the story for him, Chief Fajemirokun decided to take up the task himself after promptings from friends and associates who see him as an outlier.  He says: “My habit of discussing with friends and colleagues usually veers towards some of them prompting me to put some of the ideas I have into writing. They say that many of my takes on business are not taught at the ‘Harvard Business School’ and that they would be of immense benefit to younger people who choose to go into my line of business, which is venture capital and ‘angel’ investment. My children and the top managers have expressed the same sentiment in my companies, some of whom I interact with regularly.”

The chair, board of directors of companies including  American International Insurance Company (AIICO Plc.), Food Concepts & Entertainment Plc.,  Xerox Nigeria, now XHS, Johnson Wax,  Kings Guards Securities Group Limited and  Logic Science Ltd, adds: “For many years, the bank directors at HSBC and Standard Chartered Bank in London urged me to write about my business life because of their fascination with my business and, moreover, through their roles, having witnessed the birth and growth of some of the companies in Nigeria.”

Though he did not inherit his father’s wealth, Chief Fajemirokun admits that his name opened doors for him when he set out on his own. “His image and influence in society, including his extensive business and social network, created opportunities for me when I eventually entered his business world. To this extent, therefore, his posthumous influence was significant, and I have to thank him for that. However, the story ends there.”

A story of self-belief, toil and confidence in the face of challenges, the autobiography confirms that Chief Fajemirokun is a self-made man who has taken up the challenge of mentoring the younger generation.  Born on April 16, 1950, Fajemirokun is a recipient of chieftaincy titles from communities in states including Osun, Ekiti and Ondo. He is also a philanthropist who has actively supported initiatives that have profoundly impacted on the larger society in the last two decades. The inspirational autobiography tells his story in lucid prose and would be invaluable for all those who seek knowledge.