Festus Okotie-Eboh

Chief Festus Sam Okotie-Eboh (July 18, 1912 – January 15, 1966) was a prominent Nigerian politician, businessman, and polyglot who played a critical role in the country's transition to independence and its First Republic. He is best known for serving as Nigeria's first Minister of Finance. Early Life and Education Festus Okotie-Eboh was born on July 18, 1912, in Benin River, Warri Division, now part of Delta State, Nigeria, into the family of Prince Okotie-Eboh. He belonged to the Itsekiri ethnic group. He received his early education at Baptist School, Sapele. After completing his studies, he worked briefly as a pupil teacher at his former school before beginning his career in business. His later educational pursuits were primarily focused on accounting and business, which he studied through correspondence and private tuition. Career Progression and Business Ventures Okotie-Eboh’s career began in the private sector. In 1935, he joined Bata Shoe Company as a simple clerk, where his acumen for business quickly earned him recognition. He rose through the ranks to become a manager and was later transferred to the company’s Lagos branch. He eventually left Bata to establish his own successful business empire, which spanned several industries, including rubber, timber, and retail. His enterprises included the Omimi Trust, a holding company, and various subsidiaries, making him a successful and wealthy figure before entering politics. Political Career and Major Achievements Okotie-Eboh entered active politics in the late 1940s, initially running for a seat on the Sapele Town Council. His political influence grew rapidly. He was elected to the Western Regional House of Assembly in 1951, representing Sapele, and later moved to the Federal House of Representatives. He was a founding member of the National Council of Nigeria and the Cameroons (NCNC) and became a trusted associate of Dr. Nnamdi Azikiwe. His rise culminated in his appointment as Nigeria's Minister of Finance in 1957, a crucial portfolio he retained after independence in 1960. As Minister of Finance, Okotie-Eboh was instrumental in shaping Nigeria’s early economic policies, focusing on maintaining foreign investment, managing the national currency, and overseeing infrastructure development projects. His flamboyant style and distinctive attire made him one of the most recognizable figures in the nation's political landscape. Notable Works and Legacy Okotie-Eboh is remembered for his efforts to establish economic stability in Nigeria immediately following colonial rule. He played a key role in the monetary transition from the West African Pound to the Nigerian Pound. His business success served as an inspiration for many aspiring Nigerian entrepreneurs during the post-colonial era. Current Status Chief Festus Okotie-Eboh’s political career was tragically cut short during the first military coup in Nigeria. He was assassinated on January 15, 1966, alongside Prime Minister Abubakar Tafawa Balewa, marking the end of Nigeria's First Republic. He is remembered today as a key figure in Nigeria's independence and as a brilliant, yet controversial, economic strategist who laid the groundwork for the country's financial institutions.