Otunba Lateef Owoyemi has been in financial and management consulting business since the past 33 years. He was the 41st President of the Institute of Chartered Accountants of Nigeria (ICAN) at his time. He was also was President of IMCON.

OwoyemiHe spoke with MOSES NOSIKE and BASHIR ADEFAKA at his magnificent White House complex at Idowa town, Ijebu-Ode, Ogun State. Excerpts:
Could you let us into your company profile?

Oh, we are LOP Consulting, formerly Lateef Owoyemi and Partners. We do selective recruitment for top grade directors, executive and managers; we do project evaluation to ensure that the investor is not led to the path of destruction.

We do academic analysis of investment and also do strategic studies either political, social or economic, on how you can achieve your end results in your investments.

We also do receivership and liquidation of companies on behalf of creditors. Occasionally, we assist those that are in debt to reduce and negotiate their liabilities with their banks.
What impact has that made on the Nigerian economy?

We’ve made a lot of landmark achievements. We restructured Corporate Affairs Commission (CAC), and today, you can incorporate your company within 28 days. That is one of the many impacts we have made. The CAC has now become a more efficient institution with a new logo based on our recommendations.

We also did the Peugeot CKD study for the Federal Government. Before then, Peugeot used to be flown by air to Kaduna and most of the consulted companies especially the international ones said that was the only way to do it profitably.

But when we were recruited by the Federal Ministry of Industry to go to France and other parts of Europe and study the problem , instead of the three scenarios seen and studied by those consultants, we were able to discover 11, two of which is profitable and economical and that’s why today Peugeot Automobile is being shipped to Nigeria instead of being flown by air and that has been saving Nigeria about $12 million every month.
We were the ones that prepared the paper that led to the formation of the National Directorate of Employment (NDE) which has assisted a lot of youths even though we believe that the project has not been managed as expected.

We’ve also been privileged to assist a number of institutions like National Fertilizer Company (NAFCON). When, for instance, the Bureau for Public Enterprises (BPE) wanted to privatise NAFCON, we served as members of Committee of Inspection that allowed NAFCON to be sold at a very profitable price by the government. Presently, we’re doing a number of work for the Federal Government.

Nigerian government has always appropriated in billions and trillions of Naira, yet there’s nothing tangible to show for it. In your capacity as the former President of ICAN, what’s your take on this?

I feel very disappointed! And I think Nigerians from top to the bottom are not serious. We all know something is badly wrong with this country.

Nigeria has highly gifted individuals at every level of endeavour. For instance, when I was in England to train for accountancy, I did a 5-year course in 18 months and graduated as the best student in the class. So many of us are gifted in several endeavour.

But when you come to Nigeria, there is no difference and you can’t impact on the system. It’s unfortunate that it’s been a type of kill and share arrangement whereby people in authority only want those they want to compensate as they share with them the largesse of office.
All these while, we have not been able to have a Nigeria of our dream. Why?

It is a problem. Unfortunately, we’ve not been able to achieve the dreams of our forefathers and it’s a terrible disease. Why do I say that Nigerians are not serious earlier on?

It’s because we are very fervent in prayers both in the churches and mosques. All over the country, praying for what? Asking God to help us change the country. It’s idiocy to think so, because God can give you an idea about and how you can make money, you work to get it. God can give you food but He will not cook it for you and if you don’t cook food you can’t eat it. You can keep praying to God to put food in your mouth. But if you don’t go out there to bring the food, cook and put in your mouth, you are joking.

Nigerians are expecting God to change this country for them. God will not change it for them unless they make effort towards that change. It’s time now for everybody to rise up and say enough is enough to these politicians and leaders that are deceiving Nigerians. If I, you and our children are thinking of a better future for this country; the whole messing around in the public and civil service, etc, must stop.

And that is why nobody can become a chairman of a board without being corrupted by the civil servants that are going to serve under him.

Consequently, you take your own, I take my own and everybody goes home with his own looting and the public become poorer and much more disappointed and unhappy thereafter. That’s why there is insecurity, unemployment, mass sub-employment.

A lot of people are not working at optimum level because there are no jobs to do. This must stop if Nigeria is desirous of change. It can be done, but in my view, I don’t think it can be done through democratic means.

Lack of infrastructural development in the country has given birth to poverty as a result of unemployment in the land. Do you think we can recover from this?

We can recover from it within three months or six months if we have the right leadership. But when a governor will spend N2 billion to become elected, when a senator will spend one billion to become a senator, when somebody will spend N3 million to become elected local government chairman, we will never have a change of situation because anybody who spends too much money to become elected into public office will only appoint those who will help him to recover his money as ministers, advisers, etc. And therefore, they too will be able to have more money to prepare for the next election.

The circle goes on like that and unless something breaks it for us, the country will remain the same with no change.

In a couple of days now, Nigeria will be 50 years of independence. Yet our GDP is still not measuring up in spite of the abundant resources. What is responsible for this?

Everybody is responsible for this system. Don’t forget that recently, there was new Swiss ranking of hundred countries of the world in terms of life-ability and prospect for personal growth. Nigeria ranked 99th out of 100 countries and there are about 5 to 6 African countries that ranked above Nigeria. So what are we talking about. It’s getting worse everyday.

And unfortunately the political system of forming your leaders, people don’t think, people don’t ask questions like this party, this candidate, this leader, what did they deliver after 4, 7 years? People just do follow-follow and that’s the reason everybody complains that there’s no money, there are no infrastructure, no roads, no water, no electricity, unemployment, no sound education etc.

Even the young fellows who we think will work, they are not ready to work because they want the lazy way out. Go to any university, I fear for the teachers, who teach in our universities because they are under blackmail by those who want certificates without working. And the circle goes on everywhere you go. There is no where you go in Nigeria and get a free service without bribing someone either up or down.

You said the problem will not be solved through democratic means, what means do you think it can be done?
God has answer to everything. But in my own view, Nigerians want a change, they are praying God to bring about the change. Good, but they themselves must work towards that change. We must work towards a situation where it is not the highest bidder that wins elections.