Rotimi Awofisibe is the Managing Director of Vbank, a digital bank powered by VFD Microfinance Bank. He shared the story of his life with SEGUN KASALI.
You had your childhood in Ikotun. What are the memories?
Yes, I grew up around Ikotun, Calvary Bus Stop, to be precise. Last week made it one year that we lost our mom. I attended Foundation Junior School in Ile-Iwe. I moved to St. Francis Catholic Secondary School in Egbe. From there, I attended Obafemi Awolowo University, where I studied Accountancy. I have many friends that I grew up with and are in the big four accounting firms. There are a lot of people from that area that are doing very well in different sectors. I think it is all about you being able to drive yourself towards achieving a particular goal. The environment is not a limitation. Growing up in Ikotun was fun, to be honest, probably because we never saw the other side of life like that of Ikoyi and the like. But we were able to come together as friends and freely played football on the street.
You were a good footballer?
In fact, I never wanted to go to the university; I wanted to be a footballer growing up. But, my mom made sure I went to the university. I can tell you that 99 percent of the time I got scolded was because of football. I was so passionate about football while growing up. I had to join clubs. It was football, morning till night, though I was very good in academics. At the same time, once I was out of school, the next thing was football. Besides that, I was a homeboy. I was not exposed to a whole lot of things.
Who used the discipline you more between your parents?
My mom. Dad was always out there as a businessman. But mom was always at home. She had a shop right beside the house. I can say dad had only cautioned or scolded me four times all through my life. But my mom used to caution me every other day.
What were the traits you picked from both?
Dad is a goal-getter. You would never hear it is impossible from him. Even when the resources are not there, he would tell you it is going to be possible and I can assure you 99 percent that it is going to be. Mom, on the other hand, was a bit conservative and I think one thing I learnt from her is the emotional intelligence part of life. How to bring human feelings into things and that has really helped me in my day-to-day activities. I can be quite aggressive and get things done but, once in a while, I try to slow down with the thought that we are dealing with human beings.
You couldn’t become a Ronaldo, so why Accounting?
I have an uncle who is an accountant and was a member of the Osun State House of Assembly. He was an Accounting student at Federal Polytechnic Ede, if I remember vividly. So, the way he explained business studies to me gave me a clear understanding at an early age. When I got to accounting class in senior secondary school, I already understood the principles of accounting due to his teachings. So, no matter how complex, once I remember the rules of double entry, I try to break everything down in that format and I start getting my A’s. So, that laid the foundation for my love for accounting.
Was it a walk in the park at Obafemi Awolowo University?
To be honest, I would say it was still quite easy for me. When I was in 200 level, I remember Professor Ashaolu taught us Mac201: Cost Accounting. So, his classes were for 7 am, and he would come to class at 7:30 am and, at times, 7:45 am. So, it was a norm. That very morning, I went to a class close to the lecture room and I was reading. I never knew he was in class. He came in at 7:00 am that very day and he wrote on the board ‘Test’. Remember I was reading somewhere else. Around 7:30 am, I strolled into the class and I was like ‘What is going on here?’ He was a very smart lecturer. He would tell you to write the question on the first page and solve the question on the inner second page. What that means is that whoever is writing the answer cannot open his/her booklet for someone else to copy the question. So, I came in and could not even see the question and that was 25 marks. So, I went crying to meet his co-lecturer. Then, the lecturer asked, ‘Do you have a good understanding of the course?’ I said ‘yes’. Then, the lecturer said, ‘You can still get a C’. So, I told her ‘I am not a C candidate.’ She then said ‘put in your best to get a B’. As God would have it, I wrote the exam and scored 74 out of 75. I was on first class at some point but later finished with 2.1. So, I would say Accounting was not a problem for me. I recall a course called History. Any of my friends that read this interview will definitely be laughing. During the exam, I collected five extra booklets.
Five extra booklets?
We were learning about the Oyo empire. Then, I came to Lagos during that period and I had a friend in LASU who was studying History and International Relations. So, I saw a new book written by one of the Yoruba professors and there were a lot of accounts on the Oyo empire in the book but which we were not taught. So, I did a photocopy of that book and I downloaded the account on the exam day. I remember that I collected five extra booklets. So, I got an ‘A’ in the course.
What can you say about your social life?
I was not social at all. It was just academics for me: class and lecture. I remember I started Investment Club during my diploma days. A couple of friends were in that group. We used to contribute money and also invest in the stock market. So, when I dropped from first class in my 300 level, I had to drop out of the club.
What about your life after university?
I served with Sterling Bank after university. I was at the bank’s Oju Iwoye branch and was responsible for deposits mobilisation. It was not an interesting experience because we had to go into the market, collect their cash, give them pay slips, and you deposit on their behalf. I remember the first day I went with a senior colleague and came with about N400,000 raw cash and we were in the middle of the market. So, it was not an experience I wanted while a couple of friends were at Mobil, Chevron etc. I was expecting to serve at those places, but I was where I was and I had to face it. Two weeks later, I got a job with Lagos State Internal Revenue Service (LIRS), where I spent two years and nine months. I was a Revenue Supervisor and I was in Tax Audit. Then, I got a First Bank Entry Level offer. It was not easy after spending some years in the public sector and you are starting all over in a private organisation. Upon the completion of training at First Bank, I was moved to Customer Service and from there to Business Performance Monitoring, where I was focused on performance management, and strategy. Thereafter, I got an offer with Sterling Bank where I also did business performance monitoring. However, I joined VFD Group in March 2018. Then, sometimes around October, the Commissioner for Finance in Lagos State, Dr Rabiu Olowo, needed a technical assistant and I was seconded to him for about three years. So, VFD came calling for an ED role and so I had to come back again.
When did you meet your wife?
I met her in First Bank and coincidentally we were thinking of getting married when I got the Sterling Bank job. I think the first day I saw her, I did not see her face. I was with two friends –a lady called Dara and a guy called Emeka– that day. So, I said ‘Dara, I like this girl’. I told them ‘this is the person I will marry’. They laughed at me, saying ‘this is someone you have not even seen her face’. So, Dara sent me her name on Skype and I started engaging with her and we became friends. We were friends for about two years. We started dating and then the rest is history.
What do you like about her?
She is very calm. She stays within her space. She does not assume things. She would always ask questions for clarity.
Your beard signifies something?
My wife asked for the beard. I have been nurturing the beard for the past five years now. Even when my folks try to complain about it, I tell them what is driving it is beyond you.
How would you describe your journey so far?
I would say it has been God’s grace and it is interesting because not everybody has the opportunity of starting with a public sector background before moving into the private sector and then coming back again. I think the opportunities I have had are the ones I have to be thanking God for.
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