Wealth means nothing without a good name — Kessington Adebutu

Billionaire businessman and lotto magnate, Kessington Adebutu, speaks with TOFARATI IGEabout turning 90, his business, family and other issues

How does it feel getting to this ripe old age as a fulfilled man?

I feel very good and deeply thankful to God for His mercies in keeping me alive to this ripe age. It is a rare blessing. Out of over 200 million Nigerians, how many people are privileged to reach 90? I am truly grateful to God for making it possible.

Aside from your wealth, what else contributes to you looking this good at this age?

I do everything in moderation. That’s the answer.

How do you manage to stay active and committed to all your engagements at this age?

I always say that many people work even harder than I do, yet they don’t receive a fraction of the blessings and mercies God has shown me. For me, the best way to show gratitude is by giving back; sharing a bit of what I have with the underprivileged. That’s exactly what I do.

You recently gave N4bn to four local governments in Ogun State. What inspired that gesture?

Yesterday (Monday), the Lagos State governor (Babajide Sanwo-Olu) commissioned a N5.2bn research centre scheduled for the College of Medicine, University of Lagos. God willing, I will continue to do this to the last day of my life.

What message do you have for students and other people who would be making use of the research centre?

For the people who will use the centre, I pray that God will be with them; and as they use the facility, it will be beneficial to even more people. To the youth, I continue saying that they must learn to crawl before they walk. These days, the youth do not want to crawl before they walk, and that’s impossible. Have you seen any child walking without crawling? The youth are in too much of a hurry. That was not the case during our time. I really worked hard, and I also thank God, because He blessed my work. The youth must learn to follow the process and be patient.

Many people whose lives you have touched over the years would want to do different things for you. But, for a man who seems to have everything, what is the best gift anyone could give you?

I don’t really know. This morning, I got a statue depicting Yoruba culture, and I appreciate it. What matters most in gift giving is the thought behind it.

What message do you have for the youth about the importance of building a good name?

A good name is better than riches and that’s my guiding principle. To me, money is simply a means of living, but a good name lasts forever. That’s why I devote a large part of what I earn to helping the underprivileged.

It may be hard to believe, but I spend most of my income on my community, and I’m happy doing so because it’s not by my power. I often say that many people work harder than I do, yet at 90, I’m still earning money. Ordinarily, I should be living on a pension by now, but that’s not the case. Isn’t that enough reason to thank God?

I don’t hide or downplay God’s mercies in my life. He has been truly kind to me and my family and for that, I remain deeply grateful.

Did you at any time have an inkling that this is how your life would turn out when you were younger?

I would say yes, because I was truly determined to succeed. Let me share a story. When I was in college, some of my classmates had the privilege of travelling abroad for further studies, but I didn’t have that opportunity.

One of them was my good friend, the late Sir Molade Okoya-Thomas. We were classmates at Baptist Academy. When he was leaving for England, I told him, “By the time you return, I will be a millionaire.” And it happened, exactly as I said. That’s the power of determination. It shows that when you set your mind firmly on a goal, you can achieve it. It’s always important to discipline and prepare yourself for success.

You talked about doing things in moderation. How were you able to discipline yourself to live that way?

If you don’t do things in moderation, you’ll destroy yourself. For example, if your favourite food is rice and you eat too much of it, what happens? Constipation. If you like drinking and you keep overdoing it, it will harm you. That’s my philosophy. I do everything, even the so-called “bad things,” but in moderation.

At this age, do you have any unfulfilled wishes?

Yes, I still want to keep reaching out to the underprivileged. For instance, when I look across the South West, the only university I haven’t supported is Obafemi Awolowo University, Ile Ife, Osun State. I plan to call the Vice Chancellor to ask how I can be of help. I have touched almost every other university, so I want to do that as well.

You’ve done so much in different areas, but it seems you have a special fondness for education. Why is that?

I believe that a healthy and educated soul can never go hungry. That’s why I focus my philanthropy on health and education. I always say that if a man is healthy and educated, hunger cannot kill him; unless he chooses to be lazy. That’s my belief, and I stand by it.

You mentioned that you’re still earning money, even at 90. Can you share some investment tips for young people; something that can help them stay financially secure even in old age?

Let me tell you the secret of my success; though I wish I could charge you for it (laughs). In my business, I told my sons, “Come, let’s work together. Don’t work for me.”

A typical wealthy Nigerian would make his son his employee, give him a car, a house, and a salary. But I said “no”. I made my children partners, not staff. We worked together and shared profits. Once we started doing that, they became so committed that sometimes they would sleep in the office. Eventually, they told me to stay at home because they had taken full control.

That’s the secret of our success. They are not working for me; they are part of the business. That’s why, even now that I no longer work, the business runs smoothly. And when I’m gone, it will continue without problems.

For people who want their businesses to outlive them, how can they involve their children early enough to ensure continuity?

I always preach that if the father is a lawyer, he should make one of his children a lawyer. If you’re a barber, let one of your children learn the trade. That’s the only way there can be continuity.

It’s sad that many of my friends’ children have no interest in their parents’ professions. If you’re a lawyer and none of your children takes after you, what happens when you’re gone? The chambers close down, and that’s the end of it. The same goes for any company or industry where the children are absent. My simple advice is: let children be part of their parents’ business.

You’ve done a lot for the South West, especially in promoting Yoruba culture. Yet, some people, once they make it, distance themselves from their cultural roots. What advice do you have for such people?

Some people wrongly believe that accepting a chieftaincy title means embracing paganism. That’s not true. I’m a Christian — a Baba Ijo in my cathedral — and I serve no other God but the Almighty. Accepting a title doesn’t make you a pagan, as long as you don’t worship idols or bow to anything other than God.

Let me share something. I was in England when the misunderstanding between the Alaafin and the Ooni of Ife started. Because of my position, I called them both and asked them to stop. They were gracious enough to honour my invitation. Both of them attended my ceremony in Lagos, and I used the opportunity to meet them. That’s the beauty of peace and respect.

I tell people that honorary chieftaincy titles are even harder to earn than hereditary ones. A hereditary title can go to anyone simply because it’s their turn; even a fool. But to receive an honorary title, you must have distinguished yourself among your peers. There’s nothing wrong with honouring people who have excelled in their fields.

Some might think your success came easily, or that everything always worked out for you. Was there ever a time you were afraid things might not go well in business?

My main business is gaming, and that’s a high-risk venture. To me, you don’t truly make profit until you stop, because the ups and downs never end. There are good times and bad times, but I’ve been in it for so long that I’m used to the shocks.

Above all, honesty is the key. When things get rough, my customers don’t panic or rush to collect their winnings because they trust that Baba Ijebu will always pay. That’s what I value the most— a good name. That trust is one of the things that has sustained the business over the years.

Ijebu people are known for their enterprising nature. How has that influenced your business sense?

My parents were traders. Even when I was very young, around 2 or 3 am, we would carry their goods to the motor park. Almost every day, they had a market to attend. So business is not strange to me; it runs in my blood.

One thing that has remained consistent about you is your sense of style. How do you like to dress these days?

Simple but elegant.

How do you unwind?

I’m a club man. For your information, 11 clubs are honouring me today (Tuesday, October 21). Mention any prestigious club in Lagos; I belong to it. Not just as an ordinary member, but as a patron or trustee. I enjoy it.

They initially wanted to celebrate me on different days, and I asked them, “Do you want to kill me?” (laughs) So they agreed to come together and host me at one venue.

Would you say that socialising — being a club man— has helped you stay mentally sharp even at this age?

Of course, yes.

Finally, what is your wish and prayer for Nigeria?

My prayer is for peace in Nigeria, and for our brother, President Bola Tinubu, to have a successful tenure. I’ve been associated with his family for over three decades. In fact, I’ve served on the board of the First Lady’s foundation from inception till now. I wish him, and Nigeria, all the best.
(Punch)