Cocoa House, Ibadan: Enduring testament to an unrivalled past, By Femi Kehinde

It could be safely concluded that the NIPC was formed to continue from where the National Bank stopped, as the financial pillar of the Action Group. Between May 1959 and May 1962, the NIPC had given the Action Group over £4,000,000. The company was often, directly or indirectly, involved with the AG through the interlocking relationship of its directors. The company had hardly been incorporated when it started to borrow money from the marketing board.

Alfred Rawane was, no doubt, one of the ablest and most astute businessmen that Nigeria could boast about during that period. Chief Awolowo picked the best and ablest men for the task of the returns on their investments in the Western Region, and his choices were proved right.

The rate of growth of the Western Region before the crisis and political dispersal had been phenomenal. The Western Region government established the first television station in Africa on October 31, 1959. This was enhanced by a legislative enactment that removed broadcasting from the exclusive list to the concurrent list in the constitution of the period. Western Nigeria Television then operated in partnership with Overseas rediffusion, U.K.

The eminence of Cocoa House in Ibadan was not rivalled until 1982, when a 12-floor glass house building was officially opened. This structure, popularly called Broking House, glass house or Femi Johnson, was built by the late popular insurance and risk management mogul, Femi Johnson. The building is made mostly of glass and it is a beauty to behold. It was formally declared opened by Femi Johnson’s bosom friend, the late Chief Bola Ige, then governor of Oyo State.

Femi Johnson, the senior brother of Mobolaji Johnson, a former governor of Lagos State, was born and bred in Lagos. He attended CMS Grammar School, Lagos, and studied privately on insurance, before joining the Law Union and Rock in Lagos, from where he was later transferred to manage the Ibadan branch. He subsequently set up his own insurance firm, Femi Johnson & Co. He died in 1987 at the age of 53.

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