Henry Fajemirokun

Chief Henry Oloyede Fajemirokun, CON was born in Ile-Oluji in Ile Oluji/Okeigbo local government area of Ondo state, Nigeria. He was a soldier, trade unionist, businessman, director of companies, philanthropist, chairman and managing director of Henry Stephens & Sons Group of Companies.

Henry Fajemirokun Age

Henry Fajemirokun would have been 98 years old, if he were alive today. May his soul rest in peace.

Henry Fajemirokun Early Life

Henry was born into the family of Daniel Famakinwa Fajemirokun (popularly known as Dani Ado) and Felicia Adebumi Fajemirokun (nee Akinsuroju, born in 1891), the daughter of High Chief Odofin Oganbule Akinsuroju and Madam Adesemi Akinsuroju, and granddaughter of Omoba Adebamigbei (whose father was the Jegun of Ile Oluji).

He attended St. Peters' School, lle-Oluji from 1932 to 1936, St. Luke's School, Oke-lgbo from 1937 to 1940, CMS Grammar School from 1941 to 1942 and Ondo Boys' High School, Ondo from 1942 to 1944. He was enlisted in Old Royal West African Frontiers Force in April 1944 and was posted to India to join the 82nd West African Division in 1945. He served at GHQ, 2nd Echelon Jhansi, United Provinces in India and joined the P & T Department in 1947, after which he passed the Cambridge School Certificate in December 1948.

Henry Fajemirokun Career

Henry was a member of the workers' union in the department and rose to become president of the department's ex-servicemen's union in 1948. In 1952, he became president of the Post and Telegraph's Clerical and Workers Allied Union. He started private business in 1955 from a loan he received from a relative. He entered the agricultural export sector, exporting cattle bones as his first product, then hides and skin, rubber, coffee and shea nuts.

He earned the trust of buyers who extended letters of credit to finance his business. He added other ventures into his business activities, in 1962, he started the maritime services firm. In the 1960s he started a massive importation of cement from Egypt and Poland. He received funding for this particular venture from a credit facility that had been provided to him by a British bank in London.

He also ventured into commodity brokerage and in 1969 he bought and held a seat on the London Stock Exchange. His company Henry Stephen was the first indigenous company to get oil prospect license in Nigeria. A prominent boardroom guru, Fajemirokun also owns key stakes and sits on the board of several Nigerian blue-chips including American International Insurance Company and oil explorer First Hydrocarbon Nigeria Limited.

In the 1970s while serving as the chairman and largest shareholder of the Henry Stephens group of companies, he became a major shareholder in some leading companies in Nigeria. Following a decision to withdraw the wealth of the country from foreign nationals that was taken in 1972, an 'indigenization' decree was promulgated by the Federal government, he pioneered this scheme which benefited Nigerian greatly. Henry Stephens capitalized on the euphoria of the contemporary nationalism of the period and acquired or represented major foreign operations in the country. It became the sole distributor for Xerox.

He was denied the right to acquire the Daily Times from the British Daily Mirror who own the title by the Obasanjo junta. Henry Stephens also acquired stakes in Johnson Wax and Fan Milk. He established Henry Stephens Shipping Company with three lines: Ile-Oluji Line, Ifewara Line and D.F Fajemirokun Line, the company was a pioneer in the Nigerian maritime industry and was one of the first Nigerian companies to own an interest in a shipping line.

Henry Fajemirokun Personal Life

His father, Henry Fajemirokun, was a renowned shipping magnate and one of Africa’s most successful businessmen after Nigeria’s independence. Nigerian Maritime Services Limited, the shipping company he founded in 1962, is still one of the largest shipping companies in Nigeria today. Dele Fajemirokun, his over 60 year-old son is now in charge. He died on February 15th, 1978, while leading a trade mission in Abidjan, Cote D’Ivoire. He was survived by his wife and children.

Henry Fajemirokun Awards

• In 1968, Fajemirokun was awarded the chieftaincy title of Yegbata of Ile-Oluji by his traditional sovereign, the Jegun, thus making him a tribal aristocrat of the Yoruba people.
• In 1971 he received another title, becoming the Asiwaju of Okeigbo
• In 1983, the Federal Government of Nigeria honoured him with a posthumous national award of the Commander of the Order of the Niger (CON).

Henry Fajemirokun Net Worth

His net worth is not available.

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