2006 Nigerian CEO of the Year, Bunmi Oni, Booted Out

Bunmi Oni, 53, erstwhile Cadbury (Nigeria) CEO, was today sacked by the Board, for his role in the falsification of the company's financial statements over the last few years. Also sacked was cadbury's Finance Director, Ayo Akadiri.

This is nothing less than tragic. Reason? Oni won the award of Nigeria's most highly respected chief executive on September 14, 2006. And, very ironically, it was the same Price WaterHouse Coopers (International audit consultants) that conferred the award on him, that was engaged by Cadbury barely 3 months later to investigate the alleged manipulation of results by him.

Bunmi Oni was awarded the national honour of Member of the Order of the Niger (MON) in 2001, and was Cadbury helmsman for eleven years.

Here are excerpts from a tribute in the Tribune (Monday 25th Sept. 2006), written just after he won the award:

...As reported in the press, if profit was the most crucial factor in the survey, Oni would not have ranked that high, nor would his company. But, he is acknowledged by peers as a CEO who would rather make less profit than cut corners. In a country that has been almost completely quartered by “corner cutters”, Oni would rather see his company go through tedious and complex litigation with local and state governments than pay “a simple bribe”...

...We salute the integrity, excellence, industry, innovativeness, vision, and exemplary leadership of Oni, not only in Cadbury, but also in the larger society where his contributions have provided the needed light in the tunnel...