Akintola Williams
Encyclopedia
Akintola Williams was the first African to qualify as a chartered accountant.
His firm, founded in 1952, later grew organically and through mergers to become the largest professional services firm in Nigeria by 2004.
Williams participated in founding the Nigerian Stock Exchange and the Institute of Chartered Accountants of Nigeria
.
During a long career, Williams received many honors.
and his father Thomas Ekundayo Williams was a clerk in the colonial service who set up a legal practice in Lagos
after training in London
, England
.
He was the older brother of Rotimi Williams, who later became a distinguished lawyer.
Williams attended the CMS Grammar School, Lagos
.
He went on to Yaba Higher College on a UAC scholarship, obtaining a diploma in commerce.
In 1944 he traveled to England
where he studied at the University of London
, majoring in banking and finance and graduating in 1946 with a Bachelor of Commerce. He continued his studies and qualified as a chartered accountant in England in 1949.
While in London, he was one of the founders of the Egbe Omo Oduduwa
society, with Dr. Oni Akerele
as President and Obafemi Awolowo
as Secretary.
.
The company was the first indigenous chartered accounting firm in Africa.
At the time, the accountancy business was dominated by five large foreign firms. Although there were a few small local firms, they were certified rather than chartered accountants.
Williams gained business from indigenous companies including Nnamdi Azikiwe
's West African Pilot
, K.O. Mbadiwe's African Insurance Company, Fawehinmi Furniture and Ojukwu Transport.
He also provided services to the new state-owned corporations including the Electricity Corporation of Nigeria, the Western Nigeria Development Corporation, the Eastern Nigeria Development Corporation, the Nigerian Railway Corporation
and the Nigerian Ports Authority
.
The first partner in the firm, Charles S. Sankey, was appointed in 1957, followed by the Cameroonian Mr. Njoh Litumbe. Litumbe opened branch offices in Port Harcourt and Enugu
, and later spearheaded overseas expansion. In 1964 a branch was opened in the Cameroons
, followed by branches in Ivory Coast and Swaziland
and affiliates in Ghana
, Egypt
and Kenya
. By March 1992 the company had 19 partners and 535 staff.
Demand grew as a result of the Companies Act of 1968, which required that companies operating in Nigeria formed locally incorporated subsidiaries and published audited annual accounts. The drive in the early 1970 to encourage indigenous ownership of businesses also increased demand.
In 1973 AW Consultant Ltd, a management consultancy headed by Chief Arthur Mbanefo, was spun off. The company acquired a computer service company and a secretarial service, and in 1977 the company entered into an agreemment with Touche Ross International based on profit sharing.
Williams was also a board member and major shareholder in a number of other companies.
He retired in 1983.
Between April 1999 and May 2004, Akintola Williams & Co merged with two other accounting firms to create Akintola Williams Deloitte, the largest professional services firm in Nigeria with a staff of over 600.
He was founding member and first president of the Institute of Chartered Accountants of Nigeria (ICAN).
He was also involved in establishing the Nigerian Stock Exchange.
He remained actively involved with these organizations into his old age.
At a stock exchange ceremony in May 2011 he called on operators to protect the market and ensure there was no scandal. He said that, if needed, market operators should not hesitate to seek his advice on resolving any problem.
Public sector positions include Chairman of the Federal Income Tax Appeal Commissioners (1958–1968), 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), Chairman of the Lagos State Government Revenue Collection Panel (1973) and Chairman of the Public Service Review Panel to correct the anomalies in the Udoji Salary Review Commission (1975).
Other positions include President of the Metropolitan Club in Victoria Island
, Lagos, Founder and Council member of the Nigerian Conservation Foundation
and Founder and Chairman of the Board of Trustees of the Musical Society of Nigeria.
In 1982 Williams was honored by the Nigerian Government with the Order of the Federal Republic
(OFR).
Following retirement in 1983, Williams threw himself into a project to establish a music center and concert hall for the Music Society of Nigeria.
In April 1997 Queen Elizabeth II awarded him title of Commander of the British Empire (CBE).
His CBE was awarded for services to the accountancy profession and for promotion of arts, culture and music through the Musical Society of Nigeria.
The Akintola Williams Arboretum at the Nigerian Conservation Foundation headquarters in Lagos is named in his honor.
On 8 May 2011 the Nigeria-Britain Association presented awards to John Kufour, past President of Ghana
, and to Akintola Williams, with awards for their contributions to democracy and development in Africa.
His firm, founded in 1952, later grew organically and through mergers to become the largest professional services firm in Nigeria by 2004.
Williams participated in founding the Nigerian Stock Exchange and the Institute of Chartered Accountants of Nigeria
Institute of Chartered Accountants of Nigeria
The Institute of Chartered Accountants of Nigeria is a professional accountancy body in Nigeria.It is one of the two professional accountancy associations with regulatory authority in Nigeria, the other being the Association of National Accountants of Nigeria .The relationship between the two...
.
During a long career, Williams received many honors.
Birth and education
Akintola Williams was born in 1919. His grandfather Z.A. Williams was a merchant prince from AbeokutaAbeokuta
Abeokuta is the largest city and capital of Ogun State in southwest Nigeria and is situated at , on the Ogun River; 64 miles north of Lagos by railway, or 81 miles by water. As of 2005, Abeokuta and the surrounding area had a population of 593,140....
and his father Thomas Ekundayo Williams was a clerk in the colonial service who set up a legal practice in Lagos
Lagos
Lagos is a port and the most populous conurbation in Nigeria. With a population of 7,937,932, it is currently the third most populous city in Africa after Cairo and Kinshasa, and currently estimated to be the second fastest growing city in Africa...
after training in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
.
He was the older brother of Rotimi Williams, who later became a distinguished lawyer.
Williams attended the CMS Grammar School, Lagos
CMS Grammar School, Lagos
The CMS Grammar School in the Bariga district of Lagos is the oldest secondary school in Nigeria, founded on 6 June 1859 by the Church Missionary Society...
.
He went on to Yaba Higher College on a UAC scholarship, obtaining a diploma in commerce.
In 1944 he traveled to England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
where he studied at the University of London
University of London
-20th century:Shortly after 6 Burlington Gardens was vacated, the University went through a period of rapid expansion. Bedford College, Royal Holloway and the London School of Economics all joined in 1900, Regent's Park College, which had affiliated in 1841 became an official divinity school of the...
, majoring in banking and finance and graduating in 1946 with a Bachelor of Commerce. He continued his studies and qualified as a chartered accountant in England in 1949.
While in London, he was one of the founders of the Egbe Omo Oduduwa
Egbe Omo Oduduwa
Egbé Ọmọ Odùduwà, was a Nigerian political organization established in 1945, when Chief Obafemi Awolowo along with Dr. Oni Akerele, Chief Akintola Williams, Professor Saburi Biobaku, Chief Abiodun Akinrele, Chief Ayo Rosiji and others, met in London....
society, with Dr. Oni Akerele
Oni Akerele
John Oni Akerele was a Nigerian doctor, Nigeria's first indigenous surgeon.While living in London, in 1941 he married Dorothy Jackson, who was of African, European and Native American descent, and they set up home in Kilburn, in the north of London....
as President and Obafemi Awolowo
Obafemi Awolowo
Jeremiah Obafemi Awolowo was a Nigerian politician, trade unionist, author and statesman. A Yoruba and native of Ikenne in Ogun State of Nigeria, he started his career as a regional political leader like most of his pre-independence contemporaries and was responsible for much of the progressive...
as Secretary.
Accounting career
After returning to Nigeria in 1950, Williams served with the Inland Revenue as an assessment officer until March 1952, when he left the civil service and founded Akintola Williams & Co in LagosLagos
Lagos is a port and the most populous conurbation in Nigeria. With a population of 7,937,932, it is currently the third most populous city in Africa after Cairo and Kinshasa, and currently estimated to be the second fastest growing city in Africa...
.
The company was the first indigenous chartered accounting firm in Africa.
At the time, the accountancy business was dominated by five large foreign firms. Although there were a few small local firms, they were certified rather than chartered accountants.
Williams gained business from indigenous companies including Nnamdi Azikiwe
Nnamdi Azikiwe
Benjamin Nnamdi Azikiwe , usually referred to as Nnamdi Azikiwe and popularly known as "Zik", was one of the leading figures of modern Nigerian nationalism who became the first President of Nigeria after Nigeria secured its independence from the United Kingdom on 1 October 1960; holding the...
's West African Pilot
West African Pilot
The West African Pilot was a newspaper launched in Nigeria by Nnamdi Azikiwe in 1937, dedicated to fightingfor independence from British colonial rule.-Foundation and growth:...
, K.O. Mbadiwe's African Insurance Company, Fawehinmi Furniture and Ojukwu Transport.
He also provided services to the new state-owned corporations including the Electricity Corporation of Nigeria, the Western Nigeria Development Corporation, the Eastern Nigeria Development Corporation, the Nigerian Railway Corporation
Nigerian Railway Corporation
Nigerian Railway Corporation is the government body operating railways in Nigeria.- Infrastructure and operations :Nigerian Railway Corporation operates a network of of single track lines, all have gauge....
and the Nigerian Ports Authority
Nigerian Ports Authority
The Nigerian Ports Authority is a federal government agency that governs and operates the ports of Nigeria. The major ports controlled by the NPA include: the Lagos Port Complex and Tin Can Island Port in Lagos; Calabar Port, Delta Port, Rivers Port at Port Harcourt, and Onne Port...
.
The first partner in the firm, Charles S. Sankey, was appointed in 1957, followed by the Cameroonian Mr. Njoh Litumbe. Litumbe opened branch offices in Port Harcourt and Enugu
Enugu
Enugu is the capital of Enugu State in Nigeria. It is located in the southeastern area of Nigeria and is largely populated by members of the Igbo ethnic group. The city has a population of 722,664 according to the 2006 Nigerian census. The name Enugu is derived from the two Igbo words Enu Ugwu...
, and later spearheaded overseas expansion. In 1964 a branch was opened in the Cameroons
Cameroons
British Cameroons was a British Mandate territory in West Africa, now divided between Nigeria and Cameroon.The area of present-day Cameroon was claimed by Germany as a protectorate during the "Scramble for Africa" at the end of the 19th century...
, followed by branches in Ivory Coast and Swaziland
Swaziland
Swaziland, officially the Kingdom of Swaziland , and sometimes called Ngwane or Swatini, is a landlocked country in Southern Africa, bordered to the north, south and west by South Africa, and to the east by Mozambique...
and affiliates in Ghana
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
, Egypt
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
and Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
. By March 1992 the company had 19 partners and 535 staff.
Demand grew as a result of the Companies Act of 1968, which required that companies operating in Nigeria formed locally incorporated subsidiaries and published audited annual accounts. The drive in the early 1970 to encourage indigenous ownership of businesses also increased demand.
In 1973 AW Consultant Ltd, a management consultancy headed by Chief Arthur Mbanefo, was spun off. The company acquired a computer service company and a secretarial service, and in 1977 the company entered into an agreemment with Touche Ross International based on profit sharing.
Williams was also a board member and major shareholder in a number of other companies.
He retired in 1983.
Between April 1999 and May 2004, Akintola Williams & Co merged with two other accounting firms to create Akintola Williams Deloitte, the largest professional services firm in Nigeria with a staff of over 600.
Public roles and honors
Williams playing a leading role in establishing the Association of Accountants in Nigeria (AAN) in 1960 with the goal of training accountants. He was the first President of the association.He was founding member and first president of the Institute of Chartered Accountants of Nigeria (ICAN).
He was also involved in establishing the Nigerian Stock Exchange.
He remained actively involved with these organizations into his old age.
At a stock exchange ceremony in May 2011 he called on operators to protect the market and ensure there was no scandal. He said that, if needed, market operators should not hesitate to seek his advice on resolving any problem.
Public sector positions include Chairman of the Federal Income Tax Appeal Commissioners (1958–1968), 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
Commonwealth Foundation
The Commonwealth Foundation is an intergovernmental organisation that was established by the Commonwealth Heads of Government in 1965, the same year as its sister organisation, the Commonwealth Secretariat...
(1966–1975), Chairman of the Lagos State Government Revenue Collection Panel (1973) and Chairman of the Public Service Review Panel to correct the anomalies in the Udoji Salary Review Commission (1975).
Other positions include President of the Metropolitan Club in Victoria Island
Victoria Island (Nigeria)
Victoria Island is an affluent town that encompasses a former island of the same name that sits between Lagos Island and the Lekki Peninsula in the Lagos Lagoon. It is the main business and financial centre of Lagos, Nigeria. Victoria Island is one of the most exclusive and expensive areas to...
, Lagos, Founder and Council member of the Nigerian Conservation Foundation
Nigerian Conservation Foundation
The Nigerian Conservation Foundation is a prominent environmental non-governmental organization which works to preserve the natural resources and biodiversity of Nigeria. The Foundation was founded in 1980 and has worked since then on a number of resource management and conservation projects...
and Founder and Chairman of the Board of Trustees of the Musical Society of Nigeria.
In 1982 Williams was honored by the Nigerian Government with the Order of the Federal Republic
Order of the Federal Republic
The Federal Republic of Nigeria has instituted two orders of merit, the Order of the Federal Republic and the Order of the Niger after gaining independence from the United Kingdom in 1960....
(OFR).
Following retirement in 1983, Williams threw himself into a project to establish a music center and concert hall for the Music Society of Nigeria.
In April 1997 Queen Elizabeth II awarded him title of Commander of the British Empire (CBE).
His CBE was awarded for services to the accountancy profession and for promotion of arts, culture and music through the Musical Society of Nigeria.
The Akintola Williams Arboretum at the Nigerian Conservation Foundation headquarters in Lagos is named in his honor.
On 8 May 2011 the Nigeria-Britain Association presented awards to John Kufour, past President of Ghana
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
, and to Akintola Williams, with awards for their contributions to democracy and development in Africa.