How I Helped Build Goldlink Insurance to Be One of the Best Firms in Nigeria

His silky, smooth face, suave looks belie his age. Femi Okunniyi was born to two farmers in the hinterland of Ayesan in Ondo State. Life was tough for him before he was able to rise above the doldrums of an impoverished existence through a dint of hard wo

Can you tell us about your background?

I was born 60 years ago in a village called Ayesan, Ondo State. It’s now a town surrounded by water. My late parents were farmers who worked in a company called Araromi Ayesan Plc, started by Obafemi Awolowo in 1955. Incidentally, I chair the company today and we are into palm oil production. I started my primary education at St Andrews Anglican Primary School. My brother invited me to Lagos in 1969 after my primary education. Because of lack of money, I proceeded to a four-year programme evening school at Benevolent High School Surulere. I later completed my secondary school and moved to Yaba College of Technology. I began working in an insurance company owned by Phoenix of London in 1976. I moved to Veritas Insurance Company and later to Goldlink Insurance which later became a public quoted company in 1992.

Starting Goldlink Insurance was a vision started by my mentor, Mr. Ralph Oluwole Osayanmeh. We gathered and paraded the best brains in the industry with a view to changing the game. When we came, we turned around the face of insurance. Soon after, I became the managing director of the company. We were aggressive as a brand in the market. Our promise was our bond. Our acid test was our ability to pay claims promptly, and that we did with ease. We earned a name and created a niche in the market.

What were the challenges you faced managing Goldlink Insurance?

There was the issue of the people management, inadequate capital and inability to raise funds within the marketplace. When I became managing director, I took the company to the stock exchange in 2008. To raise money in an economy faced with global financial crunch became a huge challenge. At that time, the Federal Government was increasing the capital of insurance companies, so meeting up with the recapitalisation was indeed a challenge. But the Lord saw us through.

What did you set out to become as a child? I wanted to become a banker. So what changed? I call it Providence. When I started working in the insurance sector, I found joy in it, so I decided to stay.

When you were leaving paid employment as the chief executive officer of Goldlink Insurance, did you envisage you would go into the Christian ministry?

Yes, I did. I knew I was called into the ministry. When I gave my life to Christ, I knew God was taking me somewhere, and that He wanted to make use of me in the ministry. So I went to a Bible college to study more about theology. By the time I was inducted as a vocational pastor, I knew I was hearing from God.

How did you strike a balance between being a pastor and a businessman?

It could be a little bit difficult striking a balance as a pastor and a professional, but one of my spiritual fathers told me that being a pastor and a CEO, there could be conflicts. But you need to strike a balance and know when to say no. There were