“As a 20-year-old lawyer, I was helping to put away dangerous criminals”
Toyin Sanni is an investment banker, lawyer, stockbroker, author and strategic leadership expert. She is the Chief Executive Officer of the Emerging Africa Capital Group, a company she founded to create a link between African firms and foreign investors interested in investment opportunities in the continent. She served as the Group Chief Executive Officer of United Capital Plc (formerly UBA Capital Plc) between 2014 and 2018. She studied Law at the University of Ife and has an LLM from the University of Lagos. She has attended management courses at the Lagos Business School and the University of Harvard. Toyin was named African Businesswoman of the Year at the 2017 CNBC All Africa Business Leaders Awards. She is the author of “Yes You Too Can”, “Get to the Top” and “Riding the Eagle – A Guide To Investing in Nigeria”.
University, science or arts?
I studied Law at the University of Lagos and University of Ife. I have also received a lot of executive education at institutions such as Harvard University, Wharton Business School, and IESE in Spain.
Your first job?
My first job was as a Prosecutor at the Ministry of Justice in Ogun State. It was an opportunity to make meaningful contribution to society through improving public safety. As a young girl of 20 working with the Armed Robbery Tribunal, I was helping to put away dangerous criminals and get justice for the victims of crime. I was getting convictions for crimes that carried the death penalty.
Would you work for the government again, as political appointee?
Yes, I would be willing to work for the government in the future but this time in a role related to stimulating economic development and financial management.
Where did you go from there?
My next job was at a company called Caribbean Finance where I was a legal officer. As a student in university, I was set on a career in Finance. After Caribbean Finance, I worked in the legal department in a couple of banks. I later got additional qualifications, as a chartered stockbroker and a chartered secretary. I then joined First Trustees.
What was your biggest lesson from University?
You perform better when you work well in teams.
Who was the bigger influence: mum or dad?
My father. He was a great teacher. He taught me economics, mathematics and many life lessons.
What’s your favourite kind of music?
I like jazz and gospel music.
Who are your favourite authors?
Dale Carnegie. His books are very useful in teaching about how to influence people.
So, what are you reading now?
My own book, Riding the Eagle – A guide to investing in Nigeria. I am learning from myself on investing in Nigeria.
Single most important piece of advice in your book?
Nigeria is a great investment destination but it’s not for the faint-hearted. So, market entry must be guided by experienced and trusted local experts.
Who was your best boss ever?
Tony Elumelu. His energy and commitment have made a massive impact on me. I call him an entrepreneur’s entrepreneur. I have also been inspired by Oba Otudeko, who was on the board of one of the companies I worked for. He has been a good mentor. My first CEO of First Trustees Nsuka Kekore was also a huge influence. His ability to delegate and empower is phenomenal.
Any teacher you remember?
In business school, Clay Christensen at Harvard. His philosophy and the way he introduced disruptive technologies is very memorable.
The most expensive fashion accessory that you have ever spent on?
I am handbag person so it must be my Louis Vuitton handbag.
Tea or coffee?
Coffee. It helps stay alert.
What’s your take on the prosperity gospel?
I think it has been taken too far. It seems faith has been turned into a money-making machine. However, I do believe that God’s desire is for everyone to prosper even though financial prosperity doesn’t necessarily equal happiness or spirituality.
Are you left or right of simply pragmatic?
Pragmatic but with a tilt to the right. Yes, I believe it’s a problem that most Nigerians are to the left. What we really need are not populist welfare initiatives that put even more financial burden on the government but policies that favour and stimulate the private sector investments. The business community has a responsibility to keep educating the media and the public on the advantages of free market economic policies.
Favorite place in Nigeria?
My bedroom. I just like to chill there.
And abroad?
Monaco. Lots of natural beauty and entertainment.
What’s your favourite Nigerian brand?
Mona fashion.
Indulgences? Cars, bags, clothes?
Hand bags and big cars. I will also like to own a jet someday.
For how long have you had the wristwatch you are using now?
I have switched to the Apple watch.
Best use of money ever for you.
Executive education.
Someone you would like to holiday with?
My daughters. They are my best friends. Both my daughters work in Finance. One in private equity and the other in banking. My son is also in Investment banking actually. Interestingly, they have diverse backgrounds in Finance, Biosciences and Law respectively
Jewelry. Do you prefer gold or silver?
Gold.
If you found Buhari sitting next to you at a restaurant what would be your biggest policy ask?
I would ask him to focus on education and healthcare as well as power sector reforms.
In terms of specific policy towards your sector?
Provide an attractive investment environment that can encourage investments in the country.
Where do you see Nigeria in 10 years?
I would love to see Nigeria become a leading origin and destination of investment flows but we could also end up a huge liability to the world if we do not get our act together.
Do you think we are too many?
No, if we educate the people and provide opportunities for enterprise our population isn’t a problem.
Do you think Nigeria should be modelled after India or China?
We have a lot to learn from India but I think we need to create our own model for progress while learning from others.
Which is more important to you as an ability for your Deputy. Networking ability or technical know-how?
Ability to manage people is more important because a deputy’s main role is as a spare head and the most valued trait in a leader to me is still the ability to bring the best out of the team.
What have you discovered about entrepreneurship that is a surprise to you?
It’s tough to build a winning culture when you create an organization from scratch.
What’s more important for success; opportunity or preparation?
I think preparation because opportunities will always come.
Thanks a lot for your time.
The Lunch Hour was at:
Southern Sun Hotel, Ikoyi
Buffet for two – N17, 000:00
