Connect with us

News

Life And Times Of Nigerian Doyen If Accountancy, Akintola Williams

Published

on

Pa Akintola Williams, the Nigerian doyen of accounting died in the early hours of Monday at the age of 104.

William, who was also a prominent founding figure of Lions Clubs International, died in sleep, at his residence, Lagos.

Here is the timeline of the Nigerian foremost accountant:

Advertisement

Early life and education
Chief Akintola Williams, the first chartered accountant in Nigeria, was born on August 9, 1919, in Lagos State.

His father, Thomas Ekundayo Williams, was a colonial service clerk who established a law practice in Lagos after receiving legal training in London, England. His grandfather, Z. A. Williams, was an Abeokuta-based merchant prince.

He was the senior sibling of the late Rev. James Kehinde Williams, a Christian clergyman, and Frederick Rotimi Williams, who eventually rose to prominence as a lawyer.

Advertisement

He had his primary education at Olowogbowo Methodist Elementary School, and secondary education at CMS Grammar School, both in Lagos

He continued his education with a UAC scholarship to Yaba Higher College, where he earned a diploma in commerce.

READ ALSO: BBNaija All Stars: Ilebaye’s Fans Are Very Strong, They’ll Vote Even If She’s Sleeping—Mercy Eke

Advertisement

Williams then proceeded to England in 1944 to enrol at the University of London, where he earned a Bachelor of Commerce in 1946 after studying banking and finance.

He went to England, finished his education, and earned his chartered accountant certification in 1949.

Career and business life
Williams served as an assessment officer for the Inland Revenue after his return to Nigeria in 1950 until March 1952, when he left the government service and established Akintola Williams & Co. in Lagos State, which happened to be Africa’s first indigenous chartered accounting firm.

Advertisement

Five significant international corporations dominated the accounting sector at the time. Despite the fact that there were a few tiny local businesses, they were certified rather than chartered accountants.

Williams benefited from business from local firms such as the West African Pilot, founded by Nnamdi Azikiwe; the African Insurance Company, founded by K. O. Mbadiwe; the Fawehinmi Furniture Company; and the Ojukwu Transport Company.

READ ALSO: Reactions As Davido Reveals Amount He Charges Per Show

Advertisement

Additionally, he rendered services to the new state-owned businesses, such as the Nigerian Railway Corporation, the Western Nigeria Development Corporation, the Eastern Nigeria Development Corporation, the Electricity Corporation of Nigeria, and the Nigerian Ports Authority.

His company, Akintola Williams & Co. in Lagos, which was established in 1952, expanded organically and through mergers to become Nigeria’s biggest professional services organisation by 2004.

Williams was engaged in the establishment of both the Institute of Chartered Accountants of Nigeria and the Nigerian Stock Exchange. He has won numerous awards throughout the course of his lengthy career.

Advertisement

Charles S. Sankey, the company’s first partner, joined in 1957. Mr Njoh Litumbe, a Cameroonian, then took his place. Litumbe established satellite offices in Port Harcourt and Enugu, and she later led international expansion.

Some branches were established in Cameroon in 1964, and then branches were established in Swaziland and Côte d’Ivoire, as well as affiliates in Ghana, Egypt, and Kenya. The business employed 535 people and had 19 partners as of March 1992.

The Companies Act of 1968, which mandated that businesses doing business in Nigeria establish locally incorporated subsidiaries and release audited yearly accounts, increased demand. There was a drive to promote indigenous company ownership in the early 1970s.

Advertisement

READ ALSO: Singer, Burna Boy Hints At Retirement

The drive affected Chief Arthur Mbanefo’s management consulting firm, AW Consultant Ltd., which was spun off in 1973. In addition to acquiring a secretarial and computer service business, the company also entered into a profit-sharing agreement with Touche Ross International in 1977. Williams served on the boards of several additional businesses and was a significant shareholder in them. He left his job in 1983.

Akintola Williams & Co. combined with two other accounting companies between April 1999 and May 2004 to form Akintola Williams Deloitte (now known as Deloitte & Touche), the largest professional services company in Nigeria with more than 600 employees.

Advertisement

Honours and awards
Williams received the Order of the Federal Republic (OFR) award from the Nigerian government in 1982.

After he retired in 1983, Williams devoted his time to a project to build a music centre and performance hall for the Music Society of Nigeria.

He was made a Commander of the Most Excellent Order of the British Empire in April 1997 for contributions to the accounting industry and support of the Musical Society of Nigeria in promoting music, art, and culture.

Advertisement

In his honour, the Akintola Williams Arboretum is located inside the Nigerian Conservation Foundation’s main office in Lagos.

On May 8, 2011, John Kufuor, a former president of Ghana, and Akintola Williams received awards from the Nigeria-Britain Association in recognition of their services to democracy and development in Africa.

He was awarded ICAN’s first ever Gold Medal Merit Award in 1988.

Advertisement
Advertisement
Comments

News

BREAKING: Anthony Joshua Involved In Road Accident

Published

on

A renowned global boxer Anthony Joshua has been involved in a road accident on Monday in Makun, Ogun State.

The was said to have occurred along a busy highway of the Lagos-Ibadan expressway.

The vehicle carrying Joshua reportedly collided with another car under circumstances that are still being investigated.

Advertisement

READ ALSO:Another Accident On Otedola Bridge Causes Fresh Traffic Disruption In Lagos

The said I said to have sustained minor injuries, saying that two people died on the spot.

Meanwhile, fans have flooded social media with messages of concern, while local authorities continue to investigate the cause of the crash.

Advertisement
Continue Reading

News

Ex-Edo Gov Obaseki Reacts As His Cousin Is Beaten, Stripped

Published

on

The immediate past governor of Edo State, Godwin Obaseki, has reacted to the attack on Don Pedro Obaseki, the Chief Executive Officer of Osamudia Farms.

Don Pedro Obaseki, a cousin to the immediate past governor was attacked at Uwa Primary School where he went to play football.

In a viral video, Pedro Obaseki is seen kneeling at the Oba of Benin Palace gate, before he was dragged into the palace where he was asked to crawl before some chief walked up to the scene and rescued him.

Advertisement

Reacting, the ex-Edo governor described the act as a “grave violation of fundamental human rights and a reckless disregard for the rule of law.”

READ ALSO: Obaseki Beaten, Stripped In Edo

Obaseki, said: “I call on security agencies to immediately investigate this matter thoroughly and transparently, identify those responsible for this barbaric act and ensure they are held accountable in accordance with the law.

Advertisement

“A situation where thugs and non-state actors appear to freely take the law into their own hands on behalf of high-profile individuals and those in positions of authority can only result in one outcome, a degeneration into a state of anarchy, which will do no one no good.”

He further charged, “I urge human rights organizations, civil society groups, and all well-meaning Nigerians to lend their voices and speak out firmly against this injustice and gross violation of human rights.”

Advertisement
Continue Reading

News

New Tax Laws: Suspend January 2026 Implementation — Senator Ndume Tells Tinubu

Published

on

Former Senate Leader, Ali Ndume has appealed to President Bola Ahmed Tinubu to suspend the January 1, 2026, implementation of the country’s new tax laws amid growing controversy.

The federal lawmaker made the appeal in a statement he issued on Wednesday in Abuja.

This comes as the Nigerian Bar Association demanded the suspension of the implementation.

Advertisement

Recall that a member of the House of Representatives, Abdussamad Dasuki, had last week called the Parliament’s attention to alleged alteration to the tax laws.

READ ALSO:FIRS Confirms NIN As Tax ID

Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, in an interview on Arise Television on Wednesday, called for calm over claims of alterations in tax laws and urged Nigerians to allow lawmakers to complete their investigation before drawing conclusions.

Advertisement

Speaking on the ongoing controversy about the tax laws, Ndume noted that proceeding with the implementation without getting to the root of the alleged forgery will create a legitimacy challenge for the tax laws.

His statement read, “With the controversy surrounding it, the President should constitute a team to verify the veracity of the claim and act accordingly.

“As the responsive leader that he has always been, he should look at it to find out if the copy that was signed and the claim of alterations are genuine so that he will do the needful to bring the controversy to rest.

Advertisement

READ ALSO:US Threatens To Sanction Countries That Vote For Shipping Carbon Tax

“If not, the controversy will continue.” That is to say, the tax law will not be implemented, because you can’t build on nothing.

“So, Mr. President should suspend the implementation until the issues are resolved because so many civil society organizations, the Arewa Community, and the Nigerian Bar Association are saying that he should withdraw the tax law and investigate the allegation of forgery.”

Advertisement

“Therefore, Mr President should get to the root of the allegation of forgery. The small committee that will be set up should look into it while the House of Representatives does its own.”

Continue Reading

Trending