Mr Femi T. Akingbe
Director & Financial Adviser
Diploma in Accounting, College of Technology, Lagos, 1978
CA, International Institute for Banking, Chase, New York, 1982
Executive Program for Smaller Companies, Stanford Graduate School of Business, 1992
Associate member of the Institute of Chartered Accountants of Nigeria:
Qualification: A.C.A (1980)
1988- Present: Ventures & Trusts Limited (V&T)
Managing Director/Chief Executive Officer
V&T is an Investment Management and Venture capital company capitalized at N75 million. It is a financial service sub-sector firm specialising in the provision of venture capital funds and services to deserving entrepreneurs with viable projects. In 1993 V&T was appointed a Financial Intermediary of the European Investment Bank and received an ECU2.5 million risk capital facility to further its Venture Capital activities, with a further line of ECU5 million approved in 2000.
Currently, V&T has investments in a diverse portfolio of Industries- Manufacturing, Tourism, Financial Services, Real Estate, Paper products and Service Industries. The firm has investments with a Book value of N400 million.
1980 – 1988: CHASE MANHATTAN BANK NIGERIA LTD (Affiliate of Chase Manhattan, New York).
1986-1988: Assistant General Manager, Head of Credit Policy Department.
Fully responsible for the Credit Policy of the bank in ensuring that credit exposures comply with laid down guidelines.
Responsible for the credit Portfolio, Credit Audit, Documentation Control and Credit Administration.
Member of the Credit Committee of the Bank.
1984 – 1986: Manager, Lagos Branch
Overall responsibility for the management of the Bank in Lagos Area, handling over 250 corporate relationship accounting for 50% of total loans and advances of CHASE. Value of portfolio was about US$250million.
Concurring on/Approving credit applications or variations thereto processed for senior management’s approval or information.
Relationship manager on sensitive/complex customers, eg multinationals in the area of responsibility, while delegating relationship management for other companies to team managers.
1983 – 1984: Team Manager
Marketing, Project Investigation, Appraisal, Financial Analysis of various proposals and request for loans and services from companies.
Portfolio Management: Portfolio strength of 80, corporate and individual relationships with total exposure exceeding US$100million.
Personnel Development/Training: Having 4 subordinate professional staff, including an assistant manager.
1980- 1983: Credit Analyst/Assistant Manager:
Analysis of loan applications through extensive qualitative evaluation of relevant criteria, at a subordinate level.
1977 – 1980: PRICE WATER HOUSE (Chartered Accountants): Audit Senior
Engaged in the evaluation of the financial statement of the firm’s corporate clients with a statement of the firm’s corporate clients with a view to forming an opinion on the trueness and fairness of those statements, via:
· Preparation of audit planning memorandum
· Carrying out detailed auditing of sections of the financial statements
· Preparation and writing of ”Management letter“
· Supervising assigned staff on the job as senior charge of the audit
· Reporting on specific jobs to the manager in charge, advising on final form of audit opinion to be given.
1976 – 1978: D O DAFINONE & COMPANY (Chartered Accountants)
Mr Akingbe is married with three children and is on the Board of five companies.