On Friday, I walked into the hallowed halls of the NGX; I hadn’t been there in a while.
Remember, I was a Stockbroker and had traded in that building, so anytime I go there these days, my head will be spinning
It was my man, the great Kayode Fadahunsi, who took me there
He was listing by Introduction – for those of you who do not know, a listing by Introduction is simply that, he is not selling new shares, not diluting existing share holders, not raising fresh funds but simply subjecting himself to a higher level of Corporate governance, creating liquidity for his shareholders, providing a secondary market for his shares and giving Nigerians an opportunity to be part of his vision
An opportunity is the right word for what happened on Friday.
When Kayode stood up to speak, I went straight to the figures – that’s what we stockbrokers look for, while the rest of you look at the suit
4 licences, 5, 000+clients, N1. 25tr aggregate deal value, 3 business locations, N614. 2m FY 2025 grp PAT, N1. 022b HI 2026 Grp PAT, ranked 3 on FMDQ transaction sponsor and A+/A data pro and GCR rating
As he spoke, he swelled up with pride as he reeled out the figures
I scanned the high table, which had top officials of the NGX, including its MD Jude- who doesn’t like me and, as such didn’t acknowledge me, veteran Stockbroker Azubuike Okpala who qualified with me in 1986, super brilliant Jumoke who heads strategy at the Exchange, Doyen of the market, AVa Chairman, Adedeji, young but gifted Shobanjo and imminent market legend Wale Agbeyangi who all nodded their heads in appreciation to the hard work Ava had put in
On the front seat sat Mohammed Garuba, a man who has moved the market much more than anyone in recent times, also nodding his head in full acknowledgement of what was unfolding
Kayode tried to be humble when he kept saying, “There are people in this room who have done far better.”
Truth is that in that room, almost everyone bowed to the remarkable story Kayode was telling.
It is an 8-year journey that started very early from the pits of a low-level to mid-level positioning in a defunct bank that was part of the Standard Trust Bank group
Kayode walked into BGL’s Apabgon Close office brimming with energy. He was a shackled thoroughbred and needed the fiery push of the BGL environment to set him off on his race
He got the job and walked very briefly with me in the Institutions desk bf he found himself on the Corporate Finance desk with legendary Wale Oluwo
Before you knew it, Kayode had jumped into United Capital from where he birthed AVa
A school junkie, Kayode has attended most causes than anybody I know in Investment banking
From prestigious Harvard trainings to even local ones, and this has carefully moulded him into what we saw standing on the lectern at the NGX on Friday
Ava graciously ceded 5% of its shares to the trading public and would do more as time goes on
This was not his peak, this is Ava’s trigger and we are all on the stands egging them on as they pursue history
As I exited the Hall, I stumbled on Wale Oluwo, Kayode’s mentor, tucked in the back seats in his usual style of avoiding the public glare, and I hugged him, and I could see the joy as his ‘son’ had finally become a man
At the last minute, I looked back at the high table and saw that Jude, who didn’t greet me….
Hmmm
Duke of Shomolu
Last modified: August 3, 2026
