A few days ago, I wrote about my loyalty clashing with my self-imposed responsibility to my readers.
My friend and brother was reported to have been sacked by the biggest indigenous conglomerate in the country, with interests in refining and commodities.
My dilemma was whether to report the exclusive to my readers or remain loyal to my friend and brother.
So, I took a middle-of-the-road position and wrote about my conscience and all of that.
Now, I have heard from the other side.
Let me first state what I initially heard. There was a late-night meeting to discuss the impending IPO, and a shouting match broke out between my brother and the GCFO.
I was also told that there had been an altercation earlier in the week, and that this late Friday night incident was the last straw.
Voices were raised, tempers flared, and in the end, my brother was sacked.
However, what I have heard from another reliable source counters that version.
You may be wondering why there is so much interest in this story—and I will tell you.
There is a lot to learn here, for both the young executive climbing the corporate ladder and the experienced executive.
Themes such as corporate governance, ethics, hierarchy, procedure, and—very importantly—emotional intelligence all come into play.
Back to the story: they have parted ways. The exit process has been activated, and it will take 25 days.
The story continues.
It is a story of a culture of swearing, open threats to senior executives, shouting in meetings, and what has been described as “toxic insider politics” driven by the old guard.
According to the source, he resigned on Friday and would have resigned two weeks into the job—the first time that a Turkish man swore at and openly threatened him.
At this point, I paused.
The source continued: two months after resumption—no permanent office, no KPIs, no handover notes, no call card.
Finally, I quote my brother: there was no shouting in any meeting, nor was he sacked. He chose honour, peace of mind, and dignity over what he described as slavery, money, and the poison of an office title and company.
Now we have two sides of the story. Let me analyse.
For years, we have heard whispers about a flawed corporate culture within this huge conglomerate.
There have been reports of weak institutionalisation of corporate decision-making, human capital issues, and inconsistent processes leading to high staff turnover, theft, and the rise of petty power blocs—all contributing to a fearful work environment.
Despite this, the bottom line keeps growing. The conglomerate continues to gain market share, making its main promoter one of the biggest names in global business.
Then enters the executive, fresh from a high-profile exit from one of the largest exchanges on the continent.
Ego brimming, major transactions under his belt, and a messianic vision to be part of a revolution in African business.
Just two months later, he is out on the kerb, with bitter stories to tell.
What went wrong? Why was he unable to survive the turbulence of this conglomerate, despite years of experience in top-tier financial institutions?
Let me digress briefly.
I was once a superstar salesman, rising quickly through the corporate ranks on the back of strong performance.
Before long, I became Executive Director at BGL Asset Management, and later Deputy Managing Director at BGL Securities, both top-tier firms.
Then, for reasons I still question, I left for a lesser-known firm, Investment One Financial Services Limited.
Less pay, less status, less visibility. In hindsight, it was a poor decision.
After over seven years at BGL, where I had everything I needed, including great colleagues and mentors, I found myself in a restrictive environment. Soon enough, I was out.
Why?
Culture.
Corporate culture is critical to organisational growth and stability, and it is closely tied to human capital management.
This raises another question: was my brother properly onboarded? Was he taken through both the visible and invisible nuances of the organisation?
Or did he conduct his own assessment—looking for red flags, power centres, information flows, and process-driven relationships?
Moving from an exchange with relatively stronger corporate governance into a conglomerate that evolved from a family trading business is like moving from piloting a Boeing aircraft to flying a helicopter—regardless of size.
The workforce, structure, and culture are fundamentally different.
From what I see, this is a loss on both sides: the conglomerate loses a strong talent within two months, and my brother loses a significant opportunity.
Another question: what role did emotional intelligence play?
In a conversation with the CEO of a leading investment bank, I noted that from AGM level upwards, performance expectations shift from technical skills to softer—but more demanding—capabilities: relationship management, networking, decision-making, influence, and the ability to lead and manage people effectively.
So, if the GCFO was indeed shouting, that reflects a failure in leadership.
At the same time, my brother’s stance—refusing to tolerate such behaviour may also reflect a gap in managing difficult personalities.
In over 30 years of working in corporate Nigeria, I have worked under both exceptional leaders and difficult ones. What I learned, especially after being sacked twice, was how to manage difficult bosses.
Patience matters. Building relationships matters. Knowing when to stand firm and when to step back matters.
My brother may have approached this with a sense of mission, perhaps even superiority, which could have escalated tensions.
What he may have missed was the bigger picture: the opportunity to be part of a historic corporate IPO in Africa despite the flaws of individuals within the system.
Yes, poor behaviour reflects weak human capital management. But it does not always negate the broader vision of the organisation.
This is a lesson for both employers and employees: unmanaged ego, within a weak institutional structure, leads to outcomes like this.
For the conglomerate, no individual is indispensable. But repeated issues like this risk damaging its reputation as an employer, potentially driving away top talent.
In conclusion, this episode highlights a clear gap in human capital management—particularly in complaint handling, conflict resolution, and fostering healthy workplace relationships.
I will stop short of calling for a complete overhaul, but strong leadership intervention is clearly needed.
This was a shameful episode.
They can come and beat me.
Thanks.
Duke of Shomolu
It’s interesting how workplace culture can shift so dramatically. Have you seen this happen in other industries?