Chief Clement Olowokande, 70, an accountant and chairman of Berger Paints, shares his life experiences with ADEOLA BALOGUN
What is the meaning of your name, Olowokande?
The meaning is olowo lo maa nkan ade mole ti otosi oni nipin ninu e (literally means: it is the rich man that nails the crown down that a poor man would not have any share in it). When you talk about the nail and the hammer, and you want to put something somewhere that it would not be removable, you then use the hammer to nail that thing. So, it is the rich man that nails the crown.
Didn’t you get some derisive jokes from friends as a result of the name?
My Lagos friends used to say ‘One rich man has come’ but I told them that my father got the name because he was a very popular person. And being from a royal family, the name Olowokande was given to him. So whether they call me ‘One rich man has come’, or It is the rich man that nails down crown,’ the true meaning is Olowo kan ade mole.
If your father was popular, then you must have had it smooth growing up.
I didn’t know my father; I lost him at the age of four. So that then presupposes that no way I would have had it smooth. In my autobiography which is ready now, I have documented the story of my life for posterity. I didn’t have it smooth; I had it rough. But I always say that my life has been one purposed by God for success. The book opens with the story of my mother because of her role in my life. Because my father was from a royal background, he was a polygamist with 13 wives. If not for my mother who struggled to give me education at the elementary and secondary level, it would have been absolutely difficult for me to leave Idanre in search of the Golden Fleece in Lagos. And as I put it in the book, the best I would have become would be a very successful cocoa produce buyer in Idanre or a farmer. And again, maybe I would have been able to beat my father’s record of having 13 or more wives. I must thank my mother for giving me the gift of education.
Did you start school in Idanre?
Oh yes. I started school in 1949 while my father died in 1947 and so, I am a child weaned by my mother. Naturally, when a child loses the father very young, the responsibility falls on the mother. My mother sold all could be sold apart from herself, to see me through school. At a time, I asked her why she was so particular about me because there are other siblings; she said by my birth, she had it within her that I would be an important person in life. At birth, she said I was so fair complexioned that she thought I was a white man. She gave me the name, Akinyokunbo, meaning a boy born abroad and brought back through the sea. She had hope in me and she did all she could to make sure that I was educated.
Does it mean that you are the only one educated among your mother’s children and if so, didn’t that breed bad blood?
I was the only one and it did not create any problem. Again, immediately I knew I was in that position, I had no choice than to assume the role of a leader to train and help the other children.
After finishing secondary school in Idanre, what happened next?
I had a native brother, Mr. Moses Ogundeji, who was already in Lagos; he told me to join the one of the lorries used in loading cocoa sacks in those days to Lagos immediately after my final exams to look for a job in the city. I finished my exam on December 5 or 6, 1962 and by Friday December 7, I was in Lagos. But I didn’t find it easy because that was my first time of coming to Lagos. I came with a friend called Julius Olowoniyi. It’s a very interesting story. We didn’t know where to get off the vehicle but they dropped us somewhere and we were put in another vehicle. We didn’t know that Lagos was made up of places like Yaba, Oyingbo, Ikeja and that Lagos Island was the proper city. We just said we were going to Lagos and since we didn’t know our way, we were looking out of the vehicle to read the various signboards to see where Lagos was written. So, we passed Ebute Meta, we passed Yaba, we didn’t see it written until we saw Lagos on Iddo Terminus which was the next building to the Carter Bridge. We then shouted on the driver that we had reached Lagos and we wanted to alight. Everybody in the vehicle started laughing because we requested to get down on Carter Bridge. Since there was no bus stop on the bridge, they took us to Isale Eko and when we showed people the address given to us, it read that we had to alight at Oyingbo and the time was 11pm. So, we had no choice and had to trek down to Oyingbo and arrived there at about 1am. By this time, our handler had left and so we had to pass the night in a kiosk nearby. Number 3, Oyingbo Street was a three-storey building which belonged Chief Akinboro, an Idanre man. If you were from Idanre and coming to Lagos, they would just tell you to stop at the address. The following morning, our handler came and took us to where he was living at 3, Shelong Street, Ebute Meta near the Railway Corporation. I stayed with him for three months and I got a job with the Federal Ministry of Information as a graphic artist. Meanwhile, our results had come out and out of 26 in class that sat for the exam, only six of us passed. I worked there till November 1963 when I applied to Cable and Wireless (NITEL) and worked at the central telegraphic office as key punch operator.
So how did you get the idea of training as an accountant?
I remember one nice story when we were in our final class in school when one Idanre man called Mr. Julius Owoseni came to visit us in a big and long Vauxhall car. As a curious young boy, I asked what he did for a living and I was told he was an accountant. There and then, I said by God’s grace, I would be an accountant. I got the inspiration from him and in 1965, I applied to travel abroad to read accountancy. I had already informed my mother back home and she and other siblings sent me £150 in support. Then I went to see Chief Akindolire, an accountant and now Lisa of Idanre, who just returned from abroad, to inform him of my plan. He advised me that I could as well train as an accountant here in Nigeria. He took me up and gave me links of some correspondence courses abroad. I applied for transfer to the account section at my office where I became an account clerk. This enabled me to register as a student of the Association of Certified Accountants. He guided me to save the £150 sent to me which I later used along the line of my private training. I started the professional exams in 1966 and was passing through various sections. But in between, I had a distant learning mate called Mr. Taylor who was working at the dental office close to my office. One day, I went to visit him and I saw a very charming lady who is today my wife. That was March 13, 1967. When I told my partner about the lady, he said I must be serious minded because the lady was planning to go to the university. That is how I met my wife. By December 1968, I passed the intermediate ACCA exams and was promoted as a senior account clerk in the audit department. With my qualification, I started applying to British companies at that time, including Berger Paints which used to be British Paints. By 1969, I was invited for an interview and employed as an assistant accountant. As an assistant accountant, I was well paid. My first salary was £850, which was a lot of money then. I had my result in December 1968 and by March 1969, I told my boss, who was a certified accountant, that I wanted to register for Section 3. He said I could not because that used to be the toughest stage of ACCA. But I told him I didn’t believe in impossibility and we had a bet. He said he would give me £300 if I passed. I took a casual study leave and studied so hard and when the result came, I passed in flying colours. I then became the first person to pass Section C examination of ACCA in three months. I won my boss bet and he wrote the cheque of £300 in my name and sent to Lloyd’s Bank. He also opened an account for me. I still operate that account till date. I was again promoted assistant chief accountant and my salary went up to £1600. I bought a car and rented a good flat.
It is amazing that you remained with the same company until you retired. How did you do it?
When I finished Section 3, I waited within and I finished Section 4 and by 1970, I was a graduate accountant. And as a graduate accountant in a British company, I was again promoted chief accountant. You can be in one place and make it and one philosophy I have is that if you don’t change environment, the environment will change you. I finished my ACCA exams there and got regular promotions. I could leave and work somewhere else; in fact, I did resign twice but my bosses would not let me go. I remember in 1972, I had employment with UAC and in Nigeria Breweries where I was to be assistant chief accountant. If a boss could tell you, you would become somebody here, what else do you need? Did I not become somebody at Berger Paints? What else do I ask for? I was an assistant accountant in the company; I became assistant chief accountant; I became chief accountant; I became financial controller; I became financial director; I became managing director and by the grace of God, I am today chairman of the company.
In passing, you mentioned a lady you met at a partner’s place when you were busy taking your exams; how were you able to combine the two?
We had a purpose; she was planning and I was planning. She was then in emergency science school after which she went to University of Ife (now Obafemi Awolowo University) to read pharmacy. When she finished in 1972, we got married.
How was marriage initially?
I have what is call survival strategy. There wasn’t any job I didn’t do in Idanre as a young boy. I hawked moinmoin, ogi, akara balls; I would fetch firewood and sell. I knew that when I wanted to get married, I had to do something extra to build the house. So, when I was chief accountant, I would close by 5pm, put my car on the road and carry passengers in what was called kabukabu. I needed the extra bucks and the money I got there together with my salary made me to build my house at the age of 34. I built the house with N150,000 then. Survival strategy was what made me to use my car for kabukabu in those days. I am not ashamed to say it that I drove kabukabu in Lagos even as a chief accountant. I did that to get extra money.
As a chief accountant, instead of doing kabukabu to augment, couldn’t you find another means?
I would rather do kabukabu because I will never steal. Accountants are trained rogues but it is the disciplined ones that would not steal because we all know the loopholes. Honesty would take you to places. At Berger Paints, I was signatory to the company account together with my boss and when he was travelling; he signed blank cheques for me. When he came back and saw how I ran the accounts, he said to me, ‘You will go places. Just continue the way you are working, you will one day be the owner of this company.’ One philosophy I had is I never went to my boss to say give me extra salary, no. I have always been going to them to say give me extra work.
In recent time, the paints industry has been experiencing a lot of counterfeiting; how has that affected Berger Paints?
Once again, survival strategy applies here to make you extraordinary. If everybody decides to sell akara balls, provided the Akara balls I sell have a differentiating feature from others, they will buy my own. So, if everybody is manufacturing paints, the moment my own has a differentiating strategy, that will give me a competitive edge. I will never be in any business that is not competitive. Many people run 100 metres but it is only one winner that breasts the tape and I like to be the winner. So, competitive strategy is the name of the game. Whatever you do on your core competence that gives you an edge, you will always be on top of your competitors. There are nothing less than 1000 paint manufacturing outfits around but look at the building you are in here. Spot the difference. Some outfits can teach you paint making in hours, good luck to you. As I said, I am never afraid of competition.
Do you have time for social activities?
We are all social animals; one just needs a balance. I drink but I have never been drunk. Reading is a good hobby and I have a well stocked library. My weakness is that I can give all that I have; I don’t know when I give is enough. I learnt how to smoke but I never succeeded in smoking. I’m not a religious person but I’m a godly person. It is not when you wear the cassock that makes you righteous; doing what is right will make you righteous.
What comes to your mind when you look back and remember the first day you arrived in Lagos and had to trek from Isale Eko to Oyingbo, what comes to your mind?
I thank God but I will tell you that no man is self-made; it’s a wrong notion; we are all God-made. God has given us the ability to choose from what is right and what is wrong. Your life is in your mind.
Do you have an accountant among your children?
I have four children. One started as a chemist, she went up to do her masters and she ended up being an accountant. The second one did accounting, even with a master’s degree. The third one did insurance and ended up being an investment banker and the fourth one is a computer scientist and is abroad
