In This Article You Will Find Out Everything You Need To Know About Billionaire, Chief Oladele Fajemirokun: His Bio, Real Name, Parents, Net Worth, Businesses, Companies, Profile, Family, Father, Mother, Siblings, Married, Wife, Wikipedia, Brother, Sister, Phone Number, Biography, Date Of Birth, Age, Birthday, Country Of Origin, Nationality, Ethnicity, Tribe, Religion, Education, University, Books, Career, Height, Weight, Instagram, House, Cars, Pictures, Etc.
If you are one of those entrepreneurs who want “to chill with the big boys”, one name that would likely be on your top 100 Nigerian businessmen list is, Chief Dele Fajemirokun.
The story of how he breathed life back into the ailing business his father left behind and then proceeded to make a name for himself in the industrial sector is one that provokes awe.
The funny thing though is that this is one businessman that refuses to admit to being one. He prefers instead to be described as “an economist or director of business”.
Biography and Wiki:
Who is Chief Dele Fajemirokun? His real name is Dr. Oladele Fajemirokun is popularly known as Dele Fajemirokun, is the chairman, Henry Stephens Group Nigeria and CEO of Chicken Republic and AIICO Insurance company. He is the son of famous business mogul, Henry Oloyede Fajemirokun.
Date of Birth and Age:
How old is Chief Dele Fajemirokun? Dele Fajemirokun was born in the year 1949 and he is currently 72 years old as of 202.
Dele Fajemirokun Birthday:
Chief Dele Fajemirokun celebrated his 72nd birthday in the year 2021
Sate of Origin, Hometown:
Which state is Oladele “Dele” Fajemirokun from? Dele Fajemirokun hails from Ile Oluji, Ondo State in the south-western part of Nigeria.
Dele Fajemirokun Tribe:
What tribe is Dele Fajemirokun? Dele Fajemirokun is a Yoruba by tribe.
Dele Fajemirokun Religion:
Is Dele Fajemirokun a christian or Muslim? Chief Dele Fajemirokun’s religion is Christianity and not a Muslim.
Family, Parents, Father and Grandparents:
Dele Fajemirokun was born into the family of Mr and Mrs Henry Oloyede Fajemirokun. He is the first son in a family of four children. His grandparents are Daniel Famakinwa Fajemirokun and Felicia Adebumi Fajemirokun (née Akinsuroju). Dele Fajemirokun lives in a one room apartment with his parents alongside his siblings before their immerse success.
Early Life, Career and Educational Background:
Unlike the general thinking that he was born into wealth, Oladele Fajemirokun was one of four children born at a time his parents still lived in a one-room rented apartment in Isale Eko. He lived in this apartment with his parents, siblings and a couple of relatives, and the ‘less than desired living conditions’ created an early hunger to better his lot.
As a child, he was quite restive and earned the nickname “Dele Times, Dele Trouble”. He noted in his autobiography that his father once regretted not including “suicidal” as his middle name, but Dele choose to describe his behaviour at this time as having a “positively deviant approach to life”. In spite of this, he was an intelligent child and even his teachers admitted that his vices did not take away from his brain.
Dele attended Gboluji Grammar School, Ile Oluji, Ondo State, and got his B.Sc in Business Economics from the University of Ife (now Obafemi Awolowo University). He also bagged a Doctorate from the University of Los Angeles, USA.
Fajemirokun says that he probably picked up trading from both of his parents who were traders, and his educational background in Business Economics also played its part.
Breathing Life Back Into His Father’s Business:
Dele Fajemirokun was 28 when his father died and somehow, had to deal with the expectations that it was time to step into his father’s shoes. His scant experience in his father’s business did not do much for his confidence as he had only worked as a “sweeper” in his father’s warehouse and a “tally clerk” in his clearing & forwarding company while he was a student. Thanks to his late father’s excellent and accurate record-keeping practice, Dele was quick to catch up. His father’s deputy took over as the chairman and managing director, while Dele became the Group Executive Director (GED) of Henry Stephens Group, comprising about 19 companies.
Though many people thought that he wholly inherited the business, Dele only took on more responsibilities after his father’s demise. His first business challenge came when he came to the reality that behind the scene of his father’s huge wealth (as was publicly perceived), his father had used all but one of his properties in Nigeria to guarantee huge loan debts he had with First Bank and Union Bank. In the face of this challenge, Dele was able to negotiate an additional loan of N200,000 from First Bank under the leadership of Chief Samuel Asabia, and injected a “new lease of life” into the group, paying off all the debts within the next ten years. By this time, some of the companies in the groups had gone under but, the Henry Stephens group remained.
Dele Fajemiroku Business:
When the Nigerian federal government wanted to sell her shares in AIICO Insurance in the early 90s, Dele purchased the 11% stake in the company, making him the 2nd largest shareholder in the company after American Insurance Group (AIG). In this privatization exercise, the Federal Government did not want an individual or entity to get all of the shares, but Fajemirokun used 11 shelf companies to purchase 1% shares each and legally ended up with all of it.
He bid his time till about a decade later and purchased AIICO Bahamas’ 40% stake in the company, making him the largest shareholder in AIICO Insurance Plc. One noteworthy risk he took as Chairman of the board of AIICO Insurance, was using his main house as collateral to enable the company raise a draft of N650 million in 24 hours before the company’s license could be reissued by its regulator.
Dele Fajemirokun was one who would never let fear or anything get in the way of his business. At some time, he flew to war-torn Zagreb four or five times at the height of the Bosnia-Serbian war for business with “his personal supply of excellent whisky”. He has also had to weather through lots of business and personal challenges, in his journey of growing a multi-million dollar business.
Today, Dele Fajemirokun can be listed among Nigerian billionaires, and has interests and stakes in over forty enterprises in key sectors of the economy ranging from insurance to telecommunications, oil and gas, agriculture, and manufacturing.
In creating and growing his other businesses, Dele is known for taking advantage of his relationships and friendships from way back, to create outstanding business partnerships that minimises his risks in business and extends his rewards. Some of these companies are Aiico Insurance, Food Concepts and Entertainment (Chicken Republic/Butterfield Bakery), Johnson Wax (makers of Baygon & Raid insecticide), First Hydrocarbon Nigeria Ltd, Kings Guards Limited, FSS Gases, Multishield Limited, Xerox HS, Blue Chip Communications, DF Holdings Limited and many more.
In his autobiography, he recalled that the University of Ife was where he forged relationships with many friends who later became business partners. He described the friends/business partners as the “war council” and narrated how they casually purchased a plot of land without any clear idea of what to do with it, and fortune smiled on them when it snowballed into a high rise development in Banana Island.
A company approached them with a proposal to develop the land and offered to give them as owners of the land some units in the property once it was developed. That’s how Dele got a penthouse in the development when it was complete. No doubt, it is a business strategy that worked well for Fajemirokun and his friends.
Another thing that seems to be his style is building a business significantly and leaving the board while the ovation is loudest. A quick example of this is how he led Food Concepts Plc to establish over 60 chicken republic branches in Nigeria and Ghana as well nine bakeries, and then resigned from the board.
Dele Fajemirokun In Becoming a Billionaire:
His autobiography – The makings of me – details more daring business ventures that he has embarked on over the years. One striking story is that of how he offered an American company, T-CAS, a bridging loan of N50,000 to stay afloat, but did this in exchange for 51% shareholding in the business and demanded that he be made the Executive Chairman. He then went on to stake his only piece of landed property as collateral to get the sum from the bank as a loan.
Shortly after, T-CAS was paid the millions of dollars it was owed by the Ministry of Communications, that had it struggling to stay afloat as a company. As majority shareholder, Fajemirokun got a whopping $11million. It almost sounds like a get-rich-quick scheme, yeah! but a legitimate one. His gamble on a company that had no guarantee of survival paid off. Overnight, Dele Fajemirokun became the billionaire he had always wanted to be and, at the young age of 29.
His Other Positions and Interests:
Outside his businesses, Fajemirokun has held various positions in the Nigeria Chamber of Commerce and Industry. He was the 4th President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the 6th President of the Lagos Chamber of Commerce and Industry and became the 1st President of the Federation of West African Chambers of Commerce.
He co-founded and became the founding President of the Nigerian-British Chamber of Commerce (NBCC) alongside Sir Adam Thomson, the then Chairman of British Caledonian Airways, now British Airways.
Fajemirokun has served as a member of the Board of Governors; as former President of Nigerian-American Chamber of Commerce (NACC); and as the Vice-President, Federation of Commonwealth Chambers of Commerce.
Married, Wife and Children:
Is Dele Fajemirokun married? Dele Fajemirokun is happily married to his beautiful wife and their union is blessed with lovely children.
Chief Dele Fajemirokun First Wife and Daughter:
Since he fell a thousand depths into her arms and fell out of love again with Priscilla Soyemi, Chief Dele Fajemirokun has re-established bond with his Priscilla and their beautiful daughter, Bisola.
Fajemirokun used to be married to Pricilla, the mother of his daughter, Bisola Fajemirokun-Folawiyo, but when love turned awry and wedlock became intolerable by both parties, the chicken republic boss left his estranged wife and she took custody of their baby girl. According to report, Pricilla single-handedly raised the child.
Now Bisola who is properly groomed by her mother is married to Bolaji Folawiyo and like it is always the case with the female child, regardless of all acerbic information the mother fed her with about her father, Bisola was led by filial love to reunite with her father. As you read, Bisola is now a director in her fatherâ€™s company, Xerox.
Findings revealed that Fajemirokun has made peace with his ex-wife and has taken further measures to install his daughter, Bisola in charge of his business empire as age is no longer by his side. Fajemirokun is veteran socialite and loves expensive cars.
Dele Fajemirokun Second Wife and Daughters:
Dele writes in his book to share the memory on how he met her as a student in London: “In the summer of 1982, I met Edith Korantema Koranteng, who was destined to become my wife. She is the biological mother of my last three children and, equally so, mother of my other older children and a doting grandmother to our grandchildren. A very fortuitous meeting, which has helped in bringing stability to the home front.”
“My wife is not only a paragon of beauty but also the epitome of a good wife, a keeper of the home and a partner of exemplary moral rectitude and standing. A cut above the rest and an inestimable ‘jewel in my crown.’”
Unknown to the two of them, their coming together was orchestrated by the hand of God. Many years ago, Dele’s late father Chief Henry Fajemirokun fortuitously met Edith’s parents in Togo at a World Cocoa Conference. Edith’s father, Pa William Koranteng was the Chief Executive of the Ghana Cocoa Marketing Board—a top shot who was once an economic advisor to the government of Ghana on commodities. During the meeting in Togo, the late Chief Henry Fajemirokun was so dazzled by the beauty of Edith’s mother Mrs. Sarah Koranteng that he playfully and prophetically said his son would marry their daughter. And the prophecy came to be!
“This was not known to either of us when we met,” Dele writes. “Edith was at the Croydon College of Design and Technology in London when I met her. Before she eventually moved to Nigeria permanently, she shuttled between our home in Virginia, where we spent many memorable Christmases with the children, and our homes in the UK and Nigeria.”
“On 11 March 1985, Edith gave birth to our daughter, Kikelomo, in Virginia, USA. Six months after that, she relocated to join me in Nigeria, after about two years of shuttling between our homes in the UK, Virginia and Nigeria, acquainting herself with and taking charge of her new homes. Our next daughter, Folake, was born in Virginia on 22 July 1989 and Molade, our last daughter, was born in Lagos on 21 December 1991.”
As a graduate of design and technology, she has brought her knowledge to bear on designing their home. “If our home looks like a theme park, with all its luxuriant flora, it’s Edith’s handiwork,” Dele acknowledges.
His Net Worth:
Chief Dele Fajemirokun is among the richest billionaire in Nigeria, with several businesses to his name. He is rated one of the richest and most influential businessman with an estimated net worth of about $2 billion US dollars.