•Credit goes to Gov Mbah, Afrinvest and team led by Amaobi

•I was accused of trying to play politics with Rangers before Mbah stepped in

By Fred Iwenjora

For many years, Dr Ike Chioke made a name for himself as an economist, management, financial, banking and investment expert.

As Group Managing Director of Afrinvest West Africa, an investment banking  company, the first class graduate of Civil Engineering from Obafemi Awolowo University who later went on to acquire a master of philosophy in management studies at the University of Oxford as a Rhodes Scholar is deeply involved in investment banking, mergers and acquisition, project financing and capital market with interest in telecoms, media, financial and industrial sectors. 

But his name which seemed tucked inside the boardrooms soon became household when he got involved with Rangers International football club known to many as the Flying Antelopes of Enugu and seemingly added a kind of winning spice.

In the past three Nigeria National league seasons since Afrinvest stepped in as sponsor and supporter, Rangers have picked up the ultimate Cup twice, latest being the defeat of Ikorodu United and being crowned top of the league in 2026.

FRED IWENJORA speaks with Chioke on the history of Afrinvest support for Rangers, initial challenges, his magic wand and what he did differently to create the winning streak. 

And more.

What’s an investment company doing with a football team? How did soccer meet the boardroom so to speak?

The idea of the boardroom meeting sports started from my thinking of a way to empower youths. One day, a young man that plays football approached me and asked me if I could help him get into a team and the idea came, ah, we could actually support a team and then we started thinking of that. These thoughts started coming to me around 2013, 2014. At same time I met with some of Nigeria’s top managers of football league at the time who suggested that I could support Rangers since I come from Enugu.

Then the league boss, Shehu Dikko advised that we should see how we could professionalise Rangers to become like the teams in the English premier league.  Dikko said Ike we have thought about it, we think you should take Enugu Rangers and that was how we started solidifying my interest in youth empowerment. Fast forward to 2015 election which brought in Rt. Hon. Ifeanyi Ugwuanyi as governor.  I have been a member of his economic advisory team. So I thought of it and in 2016 I said I would like to enter into a sponsorship with Rangers. 

You did not bother about government bureaucracy?

I did not bother at first but I soon learnt lessons.  At that time we are talking about, Amobi Ezeaku was Rangers Team Manager. We planned a campaign called Finance meets Football and Wealth. We planned to sign the sponsorship agreement and I flew in 10 people from Lagos to Enugu to meet with the Enugu Rangers and the then Commissioner for sports to meet us at a designated hotel. We had promotional materials like banners and T-shirts printed,  caps, everything for promotions were ready. We needed them to come with the approval from the state government. We waited the entire day but they didn’t show up. It was surprising to note that some of the government representatives who came early to receive us and returned to the government house with a promise to return did not return after all. We sat down there waiting with a fully prepared reception, the food was prepared, the journalists were there, we all waited but they didn’t show up. Unfortunately that is Nigeria for you. Later on, rumour had it that someone said I was atrying to do politics by wanting to be part of the team and that if they gave me Rangers I would become a big political figure. And that was why the signing didn’t happen that time. So you can imagine how an innocent idea to empower the youth became politicised. I went back to my job.

Was that not enough to give up on a wonderful idea?

It was so demoralizing I must say.

But fast forward 2023 when Peter Mbah became governor of Enugu state. I was close to Peter, he has been a client of Afrinvest (Pinnacle oil) for many years before he went into politics. I approached him and said look you have got a strong and popular football team, it will help the state at the critical time when there are unknown gunmen causing mayhem, insecurities,  men sit at home Monday etc. You need to find a way to use Rangers to energise the youth and bring them out of this vicious cycle. You know Peter had a big brilliant idea. I actually was Chairman of his transition committee. So from Gburugburu to Peter Mbah, I wrote the blueprint with a team of about 70 people. We prepared that package, TOMMORROW IS HERE and we gave it to them. The lot of ideas we had were very positive but we thought if we could achieve at least 20% of the many ideas we projected then that is fine but at least let it be presented. One of the ideas was to build youth empowerment on sports. We were in his office one day when I asked him what he was going to do about his football team and he said he had a lot of big problems on his table to sort out and football was the last thing he could think of at the moment. I told him I knew of a young man who had just finished his FIFA Master’s training, he is a lawyer, he got a good number of experiences and trained at UEFA as well, he wishes to work with Rangers, he could come and help take that part of the problem for you and the governor was excited. So that’s how I called Amobi and we took a flight to see the governor. They spoke, and that was how Amobi was made General Manager of Rangers. You see there is a difference between one governor and another. Amobi started working with the Rangers as General Manager in 2023, getting familiar with the office and a lot of things etc.

What immediate problems did you meet on ground? 

We then began discussing the initial plan. Amobi said that the team needed sponsorship support because, given the way the whole system was organised, if we waited for government bureaucracy and support, it would be impossible to achieve meaningful change.

He suggested that Afrinvest become the Jersey sponsor. I honestly had not thought that far ahead.

So I told him, ‘Why don’t you write a full proposal and present it to Afrinvest’s management?’

He spent a couple of weeks developing a proposal. As it happened, Afrinvest’s management team was holding a retreat at a hotel in Victoria Island. He came over and presented it to the entire management team.

He made a strong case for how football could become a powerful brand ambassador for a corporate organisation. He explained how it could amplify advertising and strengthen brand messaging. Beyond that, he spoke about empowerment opportunities through support for the team, the vision of building an academy, establishing a women’s team, and creating benefits that would cascade in terms of benefits from the partnership.

The management approved the proposal.

Subsequently, in October 2023, we all travelled to Enugu and formally signed the partnership agreement.

What’s interesting is that what started around 2014 or 2015—when we had originally hoped to hold a signing ceremony in October 2016—did not actually culminate in a formal agreement until October 2023.

Did you in all honesty envisage the immediate triumphs of Rangers in so short a time?

When we entered into the partnership, we did so with very modest expectations. We saw it primarily as a Corporate Social Responsibility (CSR) platform. We hoped it might generate some publicity, but our expectations were deliberately conservative. Bear in mind coming out of the 2022 to 2023, Rangers, I think wanted to finish at number 4.

What magic wand did you bring in to turn around Rangers’ fortunes?

I do not want to earn the credit alone. The magic wand came from all stakeholders. From Afrinvest to Governor Peter Mbah of Enugu state who took my suggestion to use sports as a means of empowering youths and ridding our streets of unknown gunmen. He has not stopped his interest on Rangers. Credit also goes to Rangers GM Barrister Amobi Ezeaku who is well trained for the job, the coaches who direct activities on the field, the players who are dedicated and our many fans globally.

I think from our side, I mean, yes, we got a bit of credit. Because coming in at the time we did and suddenly clinching the cup in 2023/24 season. We had a vision of what we can contribute to the team and you know, we know all the issues we dealt with. Most things are always done inefficiently, the match bonuses delayed, the jerseys looking old. We ensured that if there is a delay from the government in paying allowances we stepped in to make sure it is done, then later we can balance ourselves. We ensure easy logistics for their matches ahead like organising flight and transportation for them etc. So that is how we started. But we can’t compare that to the General Manager that understood what was required to run a team. The team is also so committed, so passionate, so consistent, so disciplined. You can even see Rangers in their songs, you know, when you see them in the morning of a match day, it is like they are preparing for war which is what it is. The highly motivated Rangers team also always brought their full selves to the match. I also want to give kudos to the governor for being consistent with them. By the time the league started in 2023/24, it was around when we were number 14 or 15 on the league that Amobi said we were going to win, I said how? And he said the number of points between us and the number one team was 6 points. It was so funny because it was only 6 points and some lower differences. When we saw the rest of the games and the venues we were playing at, all these he could envision, forecast and read with his mind. We won the league despite that the atmosphere in the stadium during the last match with Ikorodu team was chaotic and tense. I can’t even remember when I carried the cup and lifted it up due to excitement. I only saw myself in photos.

In summary therefore, I like to commend Governor Peter Mbah for allotting plots of land to the players for the win. It is highly motivating. Afrinvest plans to help them with investment ideas on the property if they seek.

Now the continental championship is starring Rangers on the face….

When we reach the bridge, we shall definitely cross it. We are yet expecting to see the match schedules.

What’s the future of this Afrinvest/Rangers partnership?

We’re committed to this partnership, and we definitely want to extend it. We believe in what Rangers represents, and I firmly believe we can help take the club to places it never imagined it could reach.

The team has already attained a significant level of success, and I believe the next stage of growth is now within reach. The opportunities are there, and we are prepared to help make them a reality.

What I hope people will see in ten years is that Afrinvest is still sponsoring Rangers. If we can sustain this partnership, both Rangers and Afrinvest would have grown into global brands, with both organisations achieving remarkable success.

Rangers come from a proud history of resilience. Founded in 1970 shortly after the end of the Nigerian Civil War, the club became a symbol of hope and pride for the people of Eastern Nigeria. At a time when many had lost so much, Rangers helped galvanise the people and restore confidence and optimism.

Afrinvest has a similar story. We have been around for about 30 years, while Rangers has existed for 55 years. As we enter the banking sector with a microfinance banking licence, we are starting from the lower end of the Nigerian banking hierarchy. But I believe that ten years from now, we will be recognised as a major force in Nigeria’s banking industry.

What connects both organisations is a culture of grit, resilience, and determination—the belief that no challenge is insurmountable. Both Rangers and Afrinvest embody the spirit of transforming adversity into success.

Beyond what the two organisations achieve, I would also like to see a lasting impact in the life of the players themselves. One of the things we hope to do is teach them the fundamentals of financial discipline, savings, and investment so that they have something meaningful to fall back on after their football careers end.

Now tell me Doc; did you play soccer as a young man or you were a cheer leader?

I played football when I was younger, of course.

I attended several primary schools, including St. Patrick’s Primary School and Ekulu Primary School Enugu, before moving on to secondary school at the Federal Government College, Jos.

When I got to Jos, however, I quickly realised that I wasn’t nearly as good a footballer as I thought I was.

The school attracted students from all over the country, and some of the boys from what was then Bendel State had come through structured football academies from an early age. They were stronger, faster, and far more skilled. It didn’t take long for me to realise that football was probably not going to be my future. So, I wisely decided to respect myself and moved on. I switched to tennis and other non-contact sports.

However, in later years, I returned to my first love—football— but this time as an armchair footballer. I analyse matches, offer opinions, and criticise performances from the comfort of my seat. And yes, I am an Arsenal supporter.