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Zacch Adedeji @ 47: Celebrating A Man Of Exceptional Grace, Excellence
By Dare Adekanmbi
Ecclesiastical evidence abounds to affirm that God does not look at people or issues through the same prism from which human beings perceive matters.
As mortals, we give primacy to mundane parameters as appearance or outward adornments, height or whether the person is oozing opulence or simply look at nobility of a person’s birth before ascribing value or judgment to such a person.
The story of David’s ascension to the throne of Israel summarises how God make His choices. Prophet Samuel beheld the firstborn of Jesse named Eliab and, looking at his outward qualities, concluded “here comes the Lord’s anointed king who will govern over Israel.” But just before that thought could settle in the prophet’s mind, God told him that is not the man for the job.
The story of Zacch Adedeji, executive chairman of the Federal Inland Revenue Service (FIRS) is the story of a young, wise and brilliant man who has enjoyed exceptional grace of God. His father (of blessed memory) was a cocoa farmer from the mainly agrarian Iwo Ate town, in Ogo Oluwa Local Government Area of Oyo State.
His mother is a trader-cum-farmer. It was thanks to Chief Obafemi Awolowo’s matchless leadership and quality governance that the town at that time boasted some basic municipal amenities like school and a dispensary.
I can imagine the joy on his father’s face when the news was broken to him that his wife was delivered of a bouncing bonny baby boy later christened Zacchaeus Adelabu Adedeji.
While his father desired functional education for Zacch, the first child of the family, the greater joy for the cocoa farmer would be that the birth of Baby Zacch means an extra hand on the farm, heir apparent to the cocoa farming business.
This perception perhaps prevented Zacch’s father from noticing the unique stars in the sky that heralded the arrival of a special child to the family, the humble background notwithstanding.
The family did not realise they have been gifted a global talent whose brilliance and expertise will be acknowledged beyond the shores of Nigeria.
While his father was looking at a child who will grow to become a helping hand on the farms, God was looking at a precious gift that will bring honour to the family name.
Growing up for Zacch was not easy as there was no silver spoon in his mouth at birth. But with the grace of God upon his life, he was determined never to allow the circumstance of his birth dictate how far he could go in life. While going to school, he was also assisting his father in his cocoa farming. Zacch could not have chosen any other course in his post-secondary educational pursuit other than accountancy. He was his father’s book-keeper for the sale of cocoa produce.
At the Federal Polytechnic in Ede, Osun State, where he studied Accountancy for his Ordinary National Diploma, Zacch came out flying with a distinction.
Rather than return for his HND, he opted to further his studies at the prestigious Obafemi Awolowo University, Ile Ife, where he read management and accounting and finished with First Class honours. He did not allow the death of his father at about the time he was starting at Ife to extinguish his hope of having functional university education.
Zacch’s special talent as a brilliant accountant quickly singled out from the new recruits at P&G. He saved the company hundreds of millions of dollars in needless expenditure and deploys his financial wizardry to catapult the company’s profit to new heights. For this exceptional display, the company dispatched him to one of the best business schools in Switzerland to share his experience with them.
This feat earned him a seat at the management cadre of the American goods company earlier than any young recruit by the firm. He rose to become the Corporate Finance Manager for West Africa.
It was while making his mark at the firm that he met a great leader, Senator Abiola Ajimobi (of blessed memory), sometime in 2009.
He was just attending to what he would ordinarily consider a routine payment query when they met. Ajimobi was happy to meet a young chap from Oyo State making waves at such a company. From that time, a journey of mentoring, love and support that would remain with Zacch for a lifetime started. It was a meeting that also changed his trajectory from the private sector to the public sector.
Ajimobi appointed him Finance Commissioner for Oyo State at age 33. Notable among his achievements include: raising Internally Generated Revenue (IGR) from about N600m monthly to about N2bn in a short period, blocking leakages by streamlining government bank accounts through which a lot of money was haemorrhaged from about 100 to about 10.
As executive secretary of the National Sugar Development Council, Zacch left an indelible mark, raising standards and re-engineering processes to deliver better quality service and increased productivity. When tapped as Special Adviser on Revenue by President Bola Tinubu, a lot of people speculated he would ultimately head the country’s tax agency, Federal Inland Revenue Service (FIRS).
As an evangelist in the Anglican Communion, Zacch believes in the scripture that the power of life and death is the tongue. As the one whose duty it was to interface with FIRS tax officers while at P&G, he had said during one of his frequent visits to the Agidingbi office of the agency that “someday, I would like to work in this organisation and contribute to its transformation.” Today, not only is Zacch the executive chairman of FIRS, he has brought unprecedented transformation to the agency within a short period.
FIRS, under Zacch, surpassed tax revenue target in 2023, leading to a higher revenue benchmark of N19.4 trillion set by government for 2024. Later this month, Adedeji will announce to Nigerians what the agency was able to collect in the year just ended. The agency has done well again and has exceeded the target from available information.
To all who know Zacch and have had interactions with him, one special attribute stands him out: his humility.
He relates with the young and the old quite well and the big success that God has given him does not get into his head. Many people have spoken so glowingly about this character trait in Zacch. In 2017, he and I returned to Nigeria from a trip to the US. He had gone on holiday and I had gone to cover the annual meetings of the World Bank/IMF. We were to lodge at a popular hotel in Ikeja on arrival.
After dinner, the receptionist said only one room was left. “Give it to us. Dare and I will share it,” said Zacch. That was how we slept on the same bed that night.
If there are so many positive things to say about Zacch who is 47 years today, then the future holds even a brighter future for the number one tax man in the country today. Our boss believes in Simon Sinek’s submission that leadership is not just about being in charge, but also about taking care of those in your charge.
I join admirers and well-wishers to wish ZA many more happy years of his trademark brilliance and wisdom. May God continue to strengthen him in good health.
News
I Delivered $15m Agency Cash To Ex-NIMASA DG Akpobolokemi, EFCC Witness Tells Court
A prosecution witness, Captain Ezekiel Bala-Agaba, testified in a Lagos Federal High Court on Thursday, that he personally delivered $15 million in cash to former NIMASA DG, Patrick Akpobolokemi.
The witness, Bala-Agaba, a former Executive Director of Maritime Safety, Shipping Development and Marine Operations at NIMASA, made the disclosure while testifying before Justice Ayokunle Faji of the Federal High Court in Lagos.
Captain Agaba, who appeared as the 15th prosecution witness, told the court that funds meant for pipeline surveillance were withdrawn from NIMASA’s accounts, converted into dollars, and handed over to Dr Akpobolokemi.
According to him, the money was taken to a Bureau de Change, which converted it into $15 million before the cash was delivered to the NIMASA office on Burma Road, Apapa, Lagos.
He said he subsequently took the money to the office of the then Director-General.
“The money was sent to a Bureau de Change, which later brought the dollar equivalent to our office at Burma Road, Apapa, Lagos. I asked my Personal Assistant, Ekene Nwakuche, to carry the bag and follow me to the Director-General’s office,” he told the court.
The witness explained that he collected the bag from his aide before entering the office.
“When we got to the door of the Director-General’s office, I collected the bag from him and asked him to wait outside. I then personally delivered the sum of $15 million to the Director-General.”
The witness was initially a defendant in the case but later opted to testify for the prosecution.
While being led in evidence by prosecuting counsel, Suleiman Suleiman, he explained the chain of command within NIMASA and how financial approvals were processed in the agency.
According to him, the Director-General is the overall head of the agency and issues instructions to directors, who then implement policies in line with the NIMASA Act.
He told the court that he chaired the agency’s Intelligence Committee, which was responsible for certain security-related operations.
“As chairman of the committee, I oversaw its activities and reported directly to the Director-General, Dr. Patrick Akpobolokemi,” he said.
During the proceedings, the witness was also shown a document containing a letter from Access Bank to the Economic and Financial Crimes Commission (EFCC) detailing transactions in NIMASA’s accounts between 2013 and 2015.
When asked how much money he took to the former Director-General, Agaba replied: “$15 million.”
After listening to the testimony, Justice Faji adjourned the matter until April 22 and 23 for cross-examination of the witness.
The EFCC had in December 2015 arraigned Dr. Akpobolokemi and seven others before the court on a 30-count charge bordering on conspiracy, fraudulent conversion of funds and money laundering.
Those charged alongside the former NIMASA boss include, Warredi Enisuoh, Governor Juan, Ugo Frederick, Timi Alari, as well as Alkenzo Limited and Penniel Engineering Services Limited.
They pleaded not guilty to the offences.
The anti-graft agency alleged that the defendants conspired to divert funds running into over N1.15 billion under the guise of providing security intelligence in Nigeria’s maritime domain.
According to the EFCC, the NIMASA Intelligence Committee allegedly received N1,153,000,000 between December 2013 and July 2015.
Investigations further revealed that several companies contracted to execute the intelligence operations were either unregistered or lacked the capacity to perform the services, while some were allegedly linked to the defendants.
The prosecution also alleged that the defendants nominated or owned many of the companies used to execute the contracts.
One of the charges stated that the defendants conspired to commit offences punishable under the Money Laundering (Prohibition) Act, 2012.
News
CBN Bars Chronic Loan Defaulters from Accessing New Banking Services
The Central Bank of Nigeria (CBN) has issued a directive to all financial institutions to immediately restrict certain banking services for large-ticket borrowers with non-performing loans (NPLs).
This move is aimed at strengthening credit discipline and protecting the stability of the Nigerian financial system following a rise in the industry’s NPL ratio to approximately 7%, exceeding the regulatory 5% threshold.
This order is specifically targeted at large-ticket obligors.
The CBN issued the directive in a circular to banks on Monday.
The latest instruction comes almost a week after the CBN asked financial institutions to stress test.
It is uncertain if the two directives are connected or what may have triggered the loan-related instruction, but the apex bank said it furthers its mandate to protect Nigeria’s financial system.
“In furtherance of its mandate to promote a sound financial system, protect depositors, and enhance prudential compliance within the banking sector, the Central Bank of Nigeria (CBN) hereby directs all banks to restrict non-performing large ticket obligors, whose activities pose systemic risk to the financial system, from accessing specified banking services,” the circular reads in part.
“Any large-ticket obligor with a non-performing facility recorded in the CRMS and/or any licensed private credit bureau shall not be granted additional credit facilities. For the purpose of this restriction, credit facilities include loans and other forms of direct credit.
“In addition, such obligors shall not be granted banking facilities or contingent liabilities such as bankers’ confirmations, letters of credit, performance bonds, or advance payment guarantees.”
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Makinde Only In PDP Because He’s Not Seeking Re-election – Otitoju
Babajide Kolade-Otitoju, the Director of News at TVC News, recently stated that Oyo State Governor Seyi Makinde would likely have defected from the People’s Democratic Party (PDP) if he was still serving his first term.
Otitoju stated this on Friday on TVC’s ‘Breakfast Show’.
He described the National Convention of the Peoples Democratic Party, PDP, in Ibadan last November as a mere waste of time.
“People must show good judgment at a critical phase. What was the point of having that convention? Two courts told you not to go ahead but you went ahead.
“I may not be a fan of former Senate President Bukola Saraki but if he says something that makes sense, I will be the first to admit it. He made sense when he said let’s go for caretaker. What’s the point of not listening to him?
“Later you will be shouting that the ruling party is behind your crisis, meanwhile you are the architect of your own misfortunes. You created this problem.
“If Makinde were in his first term, he would have fled like the dancing governor because his second term would have been in danger,” Otitoju said.
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