•How he profits from his relationship with Tinubu
•His trajectory from banking to politics
A man is never so on trial as in the moment of excessive good fortune, it would seem. The very minute it became likely that Senator Tokunbo Abiru might emerge as Nigeria’s new finance minister, the agents of hate set to work.. They couldn’t understand why fate accords him a patronising hug.
Tokunbo Abiru is a miracle worker. Unlike the middling marabou, his miracles aren’t deceptive in nature rather each one is an event that creates faith in his abilities as fiscal guru and a distinguished politician
Some have argued that he is just another godson from Lagos. Others contend that he is a brilliant and very hardworking man that happened to be part of the right coterie, at the right time. And who happened to know all the right people too perhaps, especially President Bola Ahmed Tinubu.
They attribute his good fortune to his connection with Mr President, conveniently forgetting that the world offers glittering prizes only to those who have stout hearts and sharp swords.
The likely choice of Abiru as the new Finance Minister has been eliciting reactions both in the traditional and contemporary media. Even though President Bola Tinubu has left no clue with regards to whom he may end up choosing, pundits have listed Abiru, a thoroughbred banker now a politician, as Tinubu’s favourite for the job.
It would be unconscionable, however, to dismiss the achievements of the thoroughbred banker and lawmaker representing the Lagos East Senatorial Constituency as the result of his relationship with Tinubu.
Abiru’s journey to the top didn’t lay out in flat miles. He worked hard to get where he is, no doubt.
Since 2011, when he transitioned into public service as the Lagos State Commissioner for Finance under the administration of former Governor Babatunde Fashola (SAN), Abiru had blazed an enviable trail.
Thanks to his efforts, Lagos successfully floated an N80 billion bond, a feat, which attracted international accolades. He also made immense contributions to the improvement of the state’s tax collection system, among other accomplishments.
Impressed by his sterling service, the Central Bank of Nigeria (CBN), in July 2016, employed Abiru as the new Group Managing Director (GMD) and Chief Executive Officer (CEO) of the struggling Skye Bank, which he helped to transform until his departure on August 30. In 2018, recognising his essential contribution to Polaris Bank, which metamorphosed from Skye Bank, the CBN renewed his appointment.
As he enjoyed a rosy ride to the zenith of the banking sector, fate had other plans for him and this included a recourse to the political circuit. The sudden death of Adebayo Sikiru Osinowo aka Pepper, the Senator representing Lagos East at the 9th National Assembly, in June 2020, provided an opportunity for Abiru to return to the political space.
Being of the same constituency as the deceased, Abiru was promptly nominated as Osinowo’s replacement by Tinubu. Despite fierce opposition from certain quarters within the ruling party, the All Progressives Congress (APC), the former Executive Director of First Bank Plc and the immediate past CEO of Polaris Bank Limited, emerged as the preferred candidate of the All Progressives Congress (APC) for the Lagos East senatorial bye-election in a direct primary election.
His emergence took many, especially his colleagues in the banking industry, by surprise perhaps due to risks associated with contesting elections in Nigeria.
Eventually, he went to the polls and won convincingly.
He has barely settled in for his second term when he reportedly got tapped by the president, for the position of Nigeria’s finance minister.
A consummate professional, Abiru is a fellow of the Institute of Chartered Accountants of Nigeria, an honorary senior member of the Chartered Institute of Bankers of Nigeria (CBN) and an alumnus of Harvard Business School. He has also served on various reputable boards including Airtel Mobile Networks Limited; FBN Capital Limited (now FBN Quest Merchant Bank Limited); FBN Bank Sierra –Leone Limited; and Nigeria Inter-Bank Settlement System Plc (NIBSS).
It is no doubt unforgivable for mischief makers to deliberately ignore his stunning track record and label him a beneficiary of the undue influence and support of President Tinubu.
Abiru has clearly paid his dues and if current speculations are true, he is a worthy candidate for the position of Nigeria’s finance minister.
( The Capital)
