Financial Industry, Corporate Nigerians Eulogise Gamaliel Onosode

Members of financial industry and corporate Nigeria on Friday described late Dr Gamaliel Onosode as a great man of integrity who will be missed by the financial industry.

They spoke at the service of songs and night of tributes organised in his honour in Lagos.

Speaking at the event, Mr Mounir Gwarzo, the Director-General, Securities and Exchange Commission (SEC), described Onosode as “a colossus advocate of the commission”.

Gwarzo, who was represented by Ms. Mary Uduk, Director, SEC Investment Management Department, said that his support and contributions to the capital market regulations could not be quantified.

“The 10-year master plan of SEC was pioneered by him. His role as chairman of quoted companies has been highly referenced.

“He was the founding father of corporate governance , transparency and accountability”, said Gwarzo.

Mr Oscar Onyema, the Chief Executive, Nigerian Stock Exchange (NSE), said that Onosode helped to lay a strong foundation for its Investors’ Protection Fund (IPF) as the chairman of its Board of Trustees.

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Onyema said that the exchange would sorely miss him.

He said that Onosode was the first indigenous stock broker on the trading floor of the exchange and founded the first indigenous stockbroking firm named Nigeria Stockbrokers Ltd.

“Given the scope of his accomplishments, the unison of opinion on his integrity, passion for Nigeria and consistent pursuit of excellence, it is hard today to find many men of Onosode’s ilk and we may see fewer of his likes in the future.

“The corporate world was only privileged to enjoy the abundance of what the whole of Nigeria should have enjoyed when he offered himself to serve as the president of our dear nation,” Onyema said.

Prof. Rahamon Bello, Vice Chancellor, University of Lagos, said that Onosode helped the university to benchmark with world best universities when he was Pro-Chancellor of the institution.

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Bello said that the late Onosode ensured that changing of University of Lagos to Moshood Abiola University as a wish of the university community was reversed.

He said that Onosode’s contributions in the university could not be quantified noting that the institution would surely miss him.

“He introduced private sector orientation and 25 years strategic plan which helped to move the university forward,” added Bello.

Onosode, a frontline industrialist, technocrat and administrator died on Sept. 29, 2015 at the age of 82.

Onosode was a presidential aspirant of the All Nigeria People’s Party of Nigeria.

He was educated at the Government College, Ughelli and the University of Ibadan.

He emerged in the 1970s, as one of Nigeria’s leading educated chief executives, when he was at the helm of NAL merchant bank of Nigeria.

He was also a presidential adviser to President Shagari and a former president of the Nigerian Institute of Management.