EMINENT businessman and lawyer, Chief Ernest Adegunle Oladeinde Shonekan GCFR, who headed the Interim National Government that succeeded the junta of General Ibrahim Babangida, has died.
Shonekan reporetdly died in Lagos today at the age of 85.
Born May 9, 1936, Sonekan, he Abese of Egbaland, was the interim head of the Nigerian Government between August 26 and November 17 1993 when he was ousted in a coup led by late General Sani Abacha.
Prior to his appointment as head of the ING, political career, Chief Shonekan was the chairman and chief executive of the United African Company of Nigeria (successor of The Niger Company), a vast Nigerian conglomerate, which at the time was the largest African-controlled company in Sub-Saharan Africa.
One of six children born into the family of an Abeokuta-born civil servant, he was educated at CMS Grammar School and Igbobi College. He received a law degree from the University of London, and was called to the bar. He later attended Harvard Business School.
He joined the United Africa Company of Nigeria in 1964, at the time a subsidiary of the United Africa Company which played a prominent role in British colonisation. He rose through the ranks in the company and was promoted assistant legal adviser. He later became a deputy adviser and joined the board of directors at the age of 40. He was made chairman and managing director in 1980, and went on to cultivate a wide array of international business and political connections, according to his profile on wikipedia.
“On 2 January 1993, Shonekan assumed office simultaneously as head of transitional council and head of government under Ibrahim Babangida. At the time, the transitional council designed to be the final phase leading to a scheduled hand over to an elected democratic leader of the Third Nigerian Republic.
“Shonekan learned of the dire condition of government finances, which he was unable to correct. The government was hard pressed on international debt obligations and had to hold constant talks for debt rescheduling.
“In August 1993, Babangida resigned from office, following the annulment of the 12 June elections. He signed a decree establishing the Interim National Government led by Shonekan who was subsequently sworn-in as head of state.”
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