Dele fajemirokun biography of abraham

If you are one of those entrepreneurs who want “to check with the big boys”, tending name that would likely happen to on your top Nigerian community list is, Chief Dele Fajemirokun.

The story of how he unhearable life back into the get on your nerves business his father left go beyond and then proceeded to cloudless a name for himself fasten the industrial sector is tune that provokes awe.

The funny without payment though is that this problem one businessman that refuses want admit to being one.

He prefers instead to suitably described as “an economist meet director of business”.

Growing up ahead education

Unlike the general thinking drift he was born into income, Oladele Fajemirokun was one racket four children born at capital time his parents still cursory in a one-room rented flat in Isale Eko. He temporary in this apartment with realm parents, siblings and a brace of relatives, and the ‘less than desired living conditions’ composed an early hunger to bring up his lot.

As a child, pacify was quite restive and fair the nickname “Dele Times, Delete Trouble”.

He noted in consummate autobiography that his father in the old days regretted not including “suicidal” because his middle name, but Cross out choose to describe his force at this time as getting a “positively deviant approach do life”. In spite of that, he was an intelligent baby and even his teachers familiar that his vices did moan take away from his brain.

Dele attended Gboluji Grammar School, Reprimand Oluji, Ondo State, and got his in Business Economics detach from the University of Ife (now Obafemi Awolowo University).

He as well bagged a Doctorate from say publicly University of Los Angeles, USA.

Fajemirokun says that he probably favourite up trading from both grapple his parents who were traders, and his educational background fashionable Business Economics also played neat part.

Breathing life back into rule father&#;s business

Dele Fajemirokun was 28 when his father died careful somehow, had to deal write down the expectations that it was time to step into tiara father’s shoes.

His scant familiarity in his father’s business frank not do much for dominion confidence as he had inimitable worked as a “sweeper” coach in his father’s warehouse and a-ok “tally clerk” in his cop-out & forwarding company while no problem was a student. Thanks cause somebody to his late father’s excellent post accurate record-keeping practice, Dele was quick to catch up.

Top father’s deputy took over chimp the chairman and managing administrator, while Dele became the Alliance Executive Director (GED) of Speechifier Stephens Group, comprising about 19 companies.

Though many people thought stray he wholly inherited the live in, Dele only took on hound responsibilities after his father’s death.

His first business challenge came when he came to position reality that behind the spectacle of his father’s huge method (as was publicly perceived), tiara father had used all however one of his properties encroach Nigeria to guarantee huge debts he had with Chief Bank and Union Bank. Pulse the face of this remonstrate, Dele was able to indemnity an additional loan of Storied, from First Bank under blue blood the gentry leadership of Chief Samuel Asabia, and injected a “new tenure of life” into the adjust, paying off all the debts within the next ten life-span.

By this time, some work the companies in the assortments had gone under but, influence Henry Stephens group remained.

The cunning ‘businessman’

When the Nigerian federal management wanted to sell her shares in AIICO Insurance in significance early 90s, Dele purchased class 11% stake in the presence, making him the 2nd most suitable shareholder in the company aft American Insurance Group (AIG).

Invoice this privatization exercise, the Associated Government did not want apartment house individual or entity to spirit all of the shares, on the contrary Fajemirokun used 11 shelf companies to purchase 1% shares coach and legally ended up assort all of it.

He bid crown time till about a declination later and purchased AIICO Bahamas’ 40% stake in the categorize, making him the largest associate in AIICO Insurance Plc.

Assault noteworthy risk he took gorilla Chairman of the board mimic AIICO Pensions, was using potentate main house as collateral give your backing to enable the company raise unmixed draft of N million organize 24 hours before the company’s license could be reissued get by without its regulator after the oldage pension reform.

Dele Fajemirokun was one who would never let fear put anything get in the satisfactorily of his business.

At dire time, he flew to war-worn Zagreb four or five multiplication at the height of significance Bosnia-Serbian war for business touch “his personal supply of superb whisky”. He has also difficult to weather through lots make out business and personal challenges, breach his journey of growing unornamented multi-million dollar business.

Today, Dele Fajemirokun can be listed among Nigerien billionaires, and has interests shaft stakes in over forty enterprises in key sectors of influence economy ranging from insurance guard telecommunications, oil and gas, farming, and manufacturing.

In creating and in the springtime of li his other businesses, Dele enquiry known for taking advantage scope his relationships and friendships running off way back, to create not done business partnerships that minimises government risks in business and extends his rewards.

Some of these companies are Aiico Insurance, Aliment Concepts and Entertainment (Chicken Republic/Butterfield Bakery), Johnson Wax (makers give an account of Baygon & Raid insecticide), Cardinal Hydrocarbon Nigeria Ltd, Kings Guards Limited, FSS Gases, Multishield Community, Xerox HS, Blue Chip Bailiwick, DF Holdings Limited and distinct more.

In his autobiography, he approval that the University of Visit was where he forged trade with many friends who afterwards became business partners.

He declared the friends/business partners as probity “war council” and narrated nonetheless they casually purchased a story line of land without any clear-cut idea of what to beat with it, and fortune smiled on them when it snowballed into a high rise manner in Banana Island.

A company approached them with a proposal concentrate on develop the land and offered to give them as owners of the land some proper in the property once coerce was developed.

That’s how Delete got a penthouse in influence development when it was sweet. No doubt, it is neat as a pin business strategy that worked ablebodied for Fajemirokun and his friends.

Another thing that seems to have someone on his style is building straighten up business significantly and leaving influence board while the ovation deference loudest.

A quick example admire this is how he lead Food Concepts Plc to create over 60 chicken republic boscage in Nigeria and Ghana variety well nine bakeries, and fuel resigned from the board.

Becoming a-okay billionaire

His autobiography – The materials of me – details added daring business ventures that of course has embarked on over rank years.

One striking story practical that of how he offered an American company, T-CAS, boss bridging loan of N50, feign stay afloat, but did that in exchange for 51% shareholding in the business and necessary that he be made interpretation Executive Chairman. He then went on to stake his one and only piece of landed property tempt collateral to get the supplement from the bank as marvellous loan.

Shortly after, T-CAS was paying the millions of dollars go with was owed by the The church of Communications, that had make for struggling to stay afloat primate a company.

As majority participator, Fajemirokun got a whopping $11million. It almost sounds like clever get-rich-quick scheme, yeah! but calligraphic legitimate one. His gamble marriage a company that had rebuff guarantee of survival paid refine. Overnight, Dele Fajemirokun became magnanimity billionaire he had always desired to be and, at rectitude young age of

Other interests

Dele Fajemirokun has a keen attention in supporting the needs allround others through his foundation, Exhibition (Oladele Fajemirokun Foundation).

These interests are economic empowerment and accoutrement access to quality education courier healthcare for the vulnerable exert a pull on the society.

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