• Sanwo-Olu, Abiodun, ICAN, financial experts eulogise Akintola’s virtues
• ICAN: Nigeria’s economic situation requires men like him

Seasoned administrator, entrepreneur and accomplished businessman, Pa Akintola Williams, has died. He died yesterday at age 104.

He was a major chapter of accounting and business in Nigeria.
Akintola Williams motivated and mentored many young Nigerians who followed in his footsteps and became qualified chartered accountants in the late 1950s and early 1960s.

In his lifetime, Williams distinguished himself in many areas as a man worthy of being celebrated. He also demonstrated a high standard of professionalism in both financial and business fields. He was an arts enthusiast and enjoyed classical music and loved putting on suits mostly to public functions.

Even as his body gave way to the years, he was ever young and lived not in the past, except to apply its experience to the present and the future. He exuded love and reveled in the progress and accomplishments of his nation.

From laying his founding bricks Olowogbowo to building his walls at CMS Grammar School, to amassing British education, to building what the former President, Muhammadu Buhari, referred to as ‘strong pillars of the Nigerian economy’, Williams was not just a man of years — but also a man of landmarks.

Lagos State governor, Mr. Babajide Sanwo-Olu, has mourned the passage of the first indigenous chartered accountant and elder statesman, Akintola Williams, describing his death as colossal loss. The governor said the legacies of Williams cannot be forgotten.

Sanwo-Olu, in a statement by his Chief Press Secretary, Gboyega Akosile, said Williams’ record of service as an accountant of repute and a leader of remarkable achievements will remain indelible for generations to come.

He said the doyen of accounting in Nigeria, who founded the first indigenous chartered accounting firm in Africa, Akintola Williams & Co. in 1952 in Lagos, has brought many honours and pride to Nigeria and Africa, particularly in the financial sector during his lifetime.

Sanwo-Olu also hailed the late centenarian for his pioneering and pacesetting roles in the formation of many institutions in Nigeria, such as the Nigeria Stock Exchange (NSE) and the Institute of Chartered Accountants of Nigeria (ICAN).

Ogun State governor, Dapo Abiodun, described the passing of Williams as the end of an era. The governor, in a statement he personally signed, eulogised the immeasurable contributions of the deceased to the field of accountancy, saying his impacts in the profession will continue to be remembered and celebrated among generations of accountants in years to come.

“On behalf of the government and the good people of Ogun State, I want to express my heartfelt condolences to the family of the doyen of accounting. While we are going to miss his priceless contributions for over seven decades in the field of accounting, our solace lies in the profound legacies he left behind and his indelible footprints.”

President of Institute of Chartered Accountants of Nigeria (ICAN), Dr. Innocent Okwuosa, yesterday, said the current economic condition in the country requires men like late William, adding that if people at the helm of affairs emulate him, Nigeria will be out of its current economic predicament.

Okwuosa said this while reacting to the demise of the pioneer of the accounting profession. He said the late Akintola was a man of high integrity, probity and accountability. He noted that he was the epitome of ICAN motto – Accuracy & Integrity – and made the profession what it is.

“It is with gratitude to God for a fulfilled life, that we received the news of the passing of the doyen of accountancy profession, Mr Akintola Williams CBE, CFR, B.Com, FCA. He will be remembered as the founding father of ICAN and as the first indigenous chartered accountant in Nigeria and Africa. His works will continue to inspire generations unborn,” he said.

Respected for being dogged in his efforts and role in the incorporation of NSE, especially in assessing the promise and challenges associated with a new stock exchange in Nigeria in 1960, the late Williams’ personal record of accomplishments, demonstrate that excellence, when combined with integrity and hard work can fuel innovation, discovery and economic development.

In 2019, capital market experts, led by the Nigerian Stock Exchange (NSE), organised a birthday celebration and symbolic closing gong ceremony when he joined the league of centenarians.

Before his death, Pa Williams was the only surviving signatory to the original Memorandum and Articles of Association of NSE when it was founded on September 15, 1960.

According to the former NSE Council President, Abimbola Ogunbanjo, “Williams played a significant role in the incorporation of NSE, especially in assessing the promise and challenges associated with a new stock exchange in Nigeria during the period.

He said: “As a member of the National Council of the Exchange, he contributed in no small measure to the growth of its listing portfolio, and established rules reducing barriers for companies to list on the exchange.

“As the NSE continues to lead the advancement of the Nigerian capital market through inclusive products and services, we look back in gratitude to the contributions of visionary and patriotic icons like Williams,” he said.

The Chief Executive Officer of the NGX, Oscar Onyema, described Pa Williams as an icon whose life was worthy of emulation, and one spent on enabling businesses, and inspiring the younger generation to outstanding successes with integrity and patriotism.

“Since becoming a household name in the accounting profession, he resolutely served our nation at home and abroad, promoting best practices, deterring and defeating fears, and inspiring everyone in his circle to more responsibilities. His legacy is such to be cherished, and carried forward, by all of us who are privileged to witness all his exploits.”

Williams’ death has continued to attract tributes from Nigerians across the financial industry. According to them, he left a good foundation that would forever be remembered. Dr Seyi Awojobi, former Registrar, Chartered Institute of Bankers of Nigeria (CIBN), said “we have lost an institution, a pathfinder, an epitome of professionalism in Nigeria.

“A man who has made the entire economy of Nigeria and the accounting profession inseparable. We thank God for his life and how he lived it. His loss is going to be irreplaceable; a doyen, father of finance accounting and of course, a man of integrity. May he live with the saints,’’ Awojobi, also founder, Miniva Academy for Leadership and Ethics, said.

Dr Boniface Chizea, Managing Director of BIC Consulting Services, an economic and business development consultancy firm, said Williams lived a fulfilled and impactful life.

Chizea said: “He set up an accounting firm, which many of his friends passed through. When you talk of ICAN in the Nigerian financial environment, people refer to him as a thorough professional. So, we thank God for the life he lived and we pray for the family he left behind that the Lord will strengthen them.’’

Prof. Sheriffdeen Tella of Economics Department, Olabisi Onabanjo University, Ago-Iwoye, Ogun, said Williams contributed positively to the development of the accounting profession.
According to Tella, he remains the father of accounting in Nigeria.

“The old man tried his best on the job. He left a good foundation and we thank God that he was fortunate to live a long life to water the seeds he planted. We pray that the accounting institutions will continue to grow from strength to strength.

“ICAN has been doing well. So, I’m sure before he died, he was very happy that the institute had been working well. We thank God for life well spent.”

Prof. Akpan Ekpo, Chairman, Foundation for Economic Research and Training, said “his death is a big loss to the accounting profession in the country.

“I know him to be one of the earlier pioneers of accounting profession in the country, who have trained a lot of accountants through his firm. He impacted a lot of accountants immensely from his wealth of experiences. We will really miss him.”

Uche Uwaleke, Professor of Capital Market at the Nassarawa State University, Keffi, said his loss would leave great footprints on the Nigerian economy. “He was the only surviving signatories to the instrument that led to the establishment of Lagos Stock Exchange as a company limited by guarantee.

“So, he was not only the Doyen of Accounting profession in Nigeria, but also one of the founding fathers of the Nigerian Capital Market. May God grant him eternal rest,” he said.

Chief Akintola Williams, who died in his sleep was also a Nigerian businessman, founder of Akintola Williams Consulting Group, one of the largest accounting firms in Nigeria, and was also the chairman of the Nigerian Stock Exchange and the president of the Chartered Institute of Taxation of Nigeria.

Reacting to his demise, Vice President of Highcap Securities, David Adonri, said his collaborative efforts with other founding fathers to set up Nigeria’s capital market was a basic factor in modernisation of the economy.

“The capital market mourns the passing of Akintola Williams. The late financial guru, until his death, was the last surviving founder of the defunct Nigerian Stock Exchange, now NGX. He was highly revered and a reference point in the Nigerian Capital Market.

“He has left a footprint in the capital market that will be difficult to replicate. His efforts with other stakeholders opened the gate to modern capital formation and investment of savings locally. His memory will remain evergreen in the heart of the capital market. May his soul rest in the peace of our Lord Jesus Christ, Amen,” he said.

President of NewDimension Shareholders Association of Nigeria, Patrick Ajudua, said: “The demise of Akintola Williams, the doyen of the chartered accounting profession came as a surprise to me as he just celebrated his 104 years birthday.

“His famous accounting firm, Akintola Williams, now Deloitte & Touche commands a high sense of integrity and professionalism among many companies in the capital market.

“We take solace in the fact that he lived a life worthy of emulation and has left an indelible mark in the accounting profession and capital market. May his soul rest in peace. Amen.”

Born in Lagos on August 9, 1919, he was the second son of T. Ekundayo Williams. Alongside his younger brother, Rotimi, who would go on to become one of Nigeria’s most famous lawyers, his formal education began at Baptist Academy, Lagos, in 1927.

Following the completion of his secondary school education at CMS Grammar School in 1938, Akintola Williams went on to attend Yaba Higher College on a United African Company (UAC) scholarship from 1939 to 1941 where he attained a Diploma in Commerce. As a student at Yaba Higher College, he was not interested in pursuing a career in accountancy: surveying was what had piqued his interest, but he found that he was unable to explore this avenue of learning because the College did not offer courses in surveying.

He then entertained the idea of studying actuarial science and was preparing to move to England in order to take the course when he met an expatriate named John Selby.
He then proceeded to the University of London in 1944 to study banking and finance where he graduated with a bachelor of commerce degree in 1946.

He continued his studies and three years after, he qualified as a chartered accountant in England in 1949, making him the first African to achieve the feat. He was only 30.
A pioneer and pacesetter, Williams laid the foundation for many institutions in Nigeria. He made his mark as a member and a former chairman of the Federal Income Tax Appeal Commissioners (1958–68); member of the Coker Commission of Inquiry into the Statutory Corporations of the former Western Region of Nigeria (1962); member of the board of trustees of the Commonwealth Foundation (1966 –1975); former chairman of the Lagos State government revenue collection Pane.

Akintola Williams, AW, as he was fondly called, was founding member of the Metropolitan Club, Chairman, the Musical Society of Nigeria (MUSON), founding chairman, African Cancer Centre (ACC), founding member, Nigeria Conservation Foundation (NCE), member, OGS Board of Trustees, founding Chairman, International Lions Club District 404, member, Ikoyi Club and former Trustee for Nigeria on the Commonwealth Foundation.

Not only was he President of the Metropolitan Club in Victoria Island, Lagos, he was equally founder and Council member of the Nigerian Conservation Foundation. The Akintola Williams Arboretum at the Nigerian Conservation Foundation headquarters in Lagos is named in his honour.

Williams garnered different awards and honours within and outside Nigeria as an appreciation for his hardwork, development of accountancy and contributions to the economic growth of Nigeria.
He was honoured by the Nigerian government with the Order of the Federal Republic (OFR) in 1982 and Commander of the Federal Republic (CFR) in 2001.

In April 1997, Williams was appointed as Commander of the Most Excellent Order of the British Empire for services to the accountancy profession and for promotion of arts, culture, and music through the Musical Society of Nigeria.
Williams was married to Efuntiloye Mabel Williams (nee Coker), who died in 2009 at the age of 88.

On May 8, 2011, the Nigeria-Britain Association presented awards to Williams, alongside John Kufuor, ex-President of Ghana, for their contributions to democracy and development.
Williams was married to Mrs Efuntiloye Mabel Williams (nee Coker). His wife was popularly called Mama Oye Mama Muson. His wife played a very prominent role in the land procurement and fund-raising for the building of the MUSON Centre complex. She also ensured that Prince Charles of England laid the foundation stone of the complex.

During his centenary birthday, the Musical Society of Nigeria (MUSON), which is partly his brain-child, pulled out all the stops and devoted a weekend of celebrations to honour the centenarian, whose vision, in concert with the efforts of such stalwarts as, Chief Ayo Rosiji (of blessed memory), Chief Rasheed Gbadamosi (of blessed memory), Mrs. Oye Williams (of blessed memory), Mr. Louis Mbanefo (SAN), Mrs. Francesca Emanuel (of blessed memory) and many others brought the laudable MUSON structure and organisation into being.

MUSON houses the foremost School of Music in Africa and the musical conservatoire (university), which makes it equal in rank to equivalent musical institutions around the world.
The late Rosiji and Williams were able to commit a lot of corporate organisations into donating huge sums of money towards the building of the structures in MUSON Centre, Lagos.