Tuesday, June 30, 2020 8:12 am
By Ademola Akinbola
Each time the story of successful corporate turnaround in Nigeria was told, your Venerable Segun Agbetuyi’s name came up gloriously as an archetypal turnaround manager who salvaged a moribund bank, Owens then, and turned it into a profitable institution.
You initiated the three-phase corporate restructuring programme aptly tagged Surgery, Convalescence, and Ascension. The impact was phenomenal.
From a negative capital position and a badly eroded shareholders funds, you revived Owena Bank, launched it onto the path of profitability, and took it to the capital market for an IPO that was over-subscribed by almost 117%.
Such was the “miracle” God worked through you at Owena Bank that the Lagos Business School used the Owena Bank story as one of its case studies.
Things Are Looking Up at Owena Bank was the theme of the marketing communications campaign that heralded the rebirth of an otherwise dead bank. Lolu Akinwunmi LA’s Prima Garnet crafted this theme, while Gbemi Sagay’s The Shops also developed an award-winning TVC.
Born 30 1953, happy birthday to an exemplary leader and a quintessential manager of resources. You simply knew how to get the best out of your staff.
You have always been an inspiration to me. You were not only my boss, you were my benefactor. I bought my first car in 1997 courtesy of your kindness in granting me a car loan with significant waiver, and you also gave me the opportunity to head the Corporate Affairs Department at such a young age, and within two years of joining the bank from This Day newspaper.
The leadership and people development lessons learnt under your tutelage have served me well till this day.
Thank you sir for all you did moulding my young career at Owena Bank, and leading me in the right direction as a rookie Public Relations professional fresh from Journalism.
You took a special liking to me and you constantly challenged me with tasks that brought out the best in me. You fondly called me “ipata”
May you forever enjoy the goodness and mercies of the Lord in Jesus’ name. Amen.
-Ademola Akinbola is Public Relations consultant