Akintola Williams Biography, Age, Education, Career and Death
Akintola Williams was a Nigerian accountant. He was the first chartered accountant in Nigeria. Akintola Williams was born on 9 August 1919 in Lagos , Nigeria.
Akintola Williams Profile
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Name
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Akintola Williams |
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Real Name |
Akintola Williams |
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Birthday |
9 August 1919 |
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Age |
104 years (2023) |
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Profession |
Accountant |
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State of Origin |
Ogun State |
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Nationality |
Nigeria |
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Tribe |
Yoruba |
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Religion |
Christian |
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Wife |
Efuntiloye Mabel Williams |
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Net worth |
Under Review |
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Death |
September 11, 2023 |
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Copied from |
contents101.com |
Educational Background
Akintola Williams attended Olowogbowo Methodist Primary School, Bankole street, Apongbon and CMS Grammar School both in Lagos.
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He attended Yaba Higher College on a UAC scholarship, where he obtained a diploma in commerce.
In 1946, Akintola Williams obtained a degree in Banking and Finance from the University of London and became a qualified as a chartered accountant in England in 1949.
Career
After returning to Nigeria in 1950, Akintola Williams worked as an assessment officer with the Inland Revenue until March 1952.
However, he decided to leave the civil service and establish his own accounting firm, Akintola Williams & Co., in Lagos. This firm became the first indigenous chartered accounting firm in Africa, a significant accomplishment considering that the accounting industry at the time was dominated by five large foreign firms.
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While there were a few small local firms, they were certified rather than chartered accountants. Williams successfully attracted clients from indigenous companies and state-owned corporations, including West African Pilot owned by Nnamdi Azikiwe, African Insurance Company owned by K.O. Mbadiwe, Fawehinmi Furniture, Ojukwu Transport, the Electricity Corporation of Nigeria, the Western Nigeria Development Corporation, the Eastern Nigeria Development Corporation, the Nigerian Railway Corporation, and the Nigerian Ports Authority.
In 1957, Charles S. Sankey became the first partner in the firm, followed by Mr. Njoh Litumbe from Cameroon. Litumbe played a crucial role in expanding the firm’s presence by opening branch offices in Port Harcourt and Enugu. He also spearheaded overseas expansion, establishing branches in the Cameroons, Côte d’Ivoire, and Swaziland, as well as affiliates in Ghana, Egypt, and Kenya. By March 1992, the company had grown to have 19 partners and 535 staff members.
The demand for Akintola Williams & Co.’s services increased due to the Companies Act of 1968, which mandated that companies operating in Nigeria form locally incorporated subsidiaries and publish audited annual accounts.
Additionally, the push in the early 1970s to promote indigenous ownership of businesses further boosted demand. As a result, in 1973, AW Consultant Ltd, a management consultancy led by Chief Arthur Mbanefo, was established as a spin-off.
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The company expanded its services by acquiring a computer service company and a secretarial service. In 1977, Akintola Williams & Co. entered into a profit-sharing agreement with Touche Ross International. Williams also served as a board member and major shareholder in several other companies. He retired in 1983.
From April 1999 to May 2004, Akintola Williams & Co. merged with two other accounting firms, forming Akintola Williams Deloitte (now known as Deloitte & Touche). This merger created the largest professional services firm in Nigeria, employing over 600 staff members.
Personal life
Akintola Williams was married to Efuntiloye Mabel Williams with children. He was a Christian of Yoruba origin from Abeokuta, Ogun state. He was the elder brother of Frederick Rotimi Williams, who later became a distinguished lawyer, and the late Rev. James Kehinde Williams, a Christian minister.
Death
Akintola Williams died at his house in Lagos, on 11 September 2023. He was 104 years.
