It was A.V. Dicey, the conscionable jurist of British origin, that propounded the theory of the rule of law.
In that oft-quoted theory, he emphasized three critical things: supremacy of the law, equality before the law and predominance of legal spirit. For the purposes of what is currently happening to one of Nigeria’s iconic businessmen, Dr. Ayoola Obafoluke Otudeko, popularly known as Oba Otudeko, I would be concentrating on just one, and that is “equality before the law.” Put another way, the law is no respecter of any person, rank or status. But only when applied justly.
The battle for the soul of any organisation, especially one in which one of the major shareholders had devoted his blood and sweat to building, should never be used to tarnish a reputation built over the years. The fact that some people, right now, have access to the seat of power as well as some people that matter should equally not be deployed in annihilating another. Which, unfortunately, is what is unfolding in one of the oldest financial institutions in Nigeria – FBN Holdings Plc.
Dr. Ayoola Obafoluke Otudeko, if the truth must be told, does not deserve what is happening to him at the moment. The well orchestrated attacks aimed at getting him out of FBN Holdings Plc and then ruining his reputation is not how to reward and treat our icons – whether or not they have the ears of the people in power. A widely acknowledged builder of men, astute employer of labour, foremost investor and quintessential industrialist like him deserves to be better treated. Especially having repeatedly reiterated his innocence.
On one of the wicked and wild allegations being circulated by those after him, Otudeko, for the record, has never served in any executive capacity within FBN Holdings or even its banking subsidiary, First Bank of Nigeria Limited. As such, he never played any operational responsibility in the organization.
Secondly, despite not having received any summons – either personally or through his counsels, the people after him have continued to stoke the fire of his proposed arraignment. All to achieve their nefarious and premeditated plans. As a law abiding citizen of the Federal Republic of Nigeria, Otudeko is always ready and available to assist any government agency with appropriate oversight in the execution of their duties. But provided they are fair, just and most importantly, will conduct their duties with the highest standard of professionalism.
At 81, and after five decades of dedicated and meritorious contributions to the growth and advancement of Nigeria’s economy, Otudeko has dedicated the rest of his life to serving humanity, mentoring the next generation and giving thanks to the Almighty.
He is therefore not interested in serving in any executive capacity in any other organization in Nigeria and even elsewhere. He is also not interested in serving in a non-executive capacity on any Board aside the ones he currently sits on. And that includes the Board of FBN Holdings Plc, which appears to be the raison d’etre for the spurious attacks. FBN Holdings, a legacy institution of over 130 years, holds a special place in his heart – and he trusts and believes that the strong foundation laid by him and others who have been privileged to serve in one capacity or the other in the financial behemoth will continue to sustain it and then usher it into the next era of success.
Otudeko is of the unequivocal belief that truth will ultimately triumph, no matter how long it takes. Drawing from Uthman Dan Fodio’s quote, which was popularized by The Guardian newspaper, he wants those bent on destroying his hard-earned reputation to remember that, “Conscience is an open wound. Only truth can heal it.” Above all, “Lies have short legs, they don’t run far.”
*Okwologu is a public commentator and analyst
