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Accounting icon and Nigeria’s former Permanent Representative to the United Nations, Chief Arthur Mbanefo, died in December last year at the age of 95. In his death, Nigeria has lost an elder statesman, thought leader, philanthropist, administrator and boardroom guru. The Odu Osodi 111 of Onitsha and Oluwo Adimula of Ife lived a life of integrity, hard work and patriotism. Mbanefo was also a major aficionado, collector and patron of Nigerian arts.
The trailblazer was born on June 11, 1930, in Onitsha, Anambra State. He was educated at St. Patrick’s College, Calabar. He was later trained in the United Kingdom (UK), where he qualified as a chartered accountant in the mid-1950s before returning to Nigeria begin a career that spanned more than 50 years. He was a fellow of the Institute of Chartered Accountants in England and the Institute of Chartered Accountants of Nigeria.
Mbanefo began his professional career as a partner with Akintola Williams & Company. He worked in Nigeria’s foremost indigenous accountancy firm from 1961 till 1986. He later became a senior partner and founded his own management consultancy, which provided financial and corporate advice to government, business, and international institutions.
His leadership acumen was put to test in 1979 when he became the President of the Institute of Chartered Accountants of Nigeria (ICAN). He was instrumental to the completion of the ICAN Secretariat, which was declared open on April 21, 1979. He represented the institute on the governing boards of International Federation of Accountants (IFAC) and the International Accounting Standards Committee (IASC).
Mbanefo was regarded as a genius, who mastered different fields outside his professional calling with remarkable competence. He sat on the boards of Nigeria’s leading corporations and financial institutions. He was noted for his foresight and broad intellect. In the boards he served in, he contributed immensely to enhance strategic thinking, governance and decision-making. He was a member of the Justice Ayo Irikefe Judicial Commission of Inquiry into the Nigerian National Petroleum Corporation’s finances. Also, as the Pro-Chancellor and Chairman of Council of the University of Lagos (1984–1986), Obafemi Awolowo University, Ile-Ife (1986–1990), and Ahmadu Bello University, Zaria (1990–1993), he provided strategic oversight, ensuring financial health, and upholding policies, working in tandem with the vice-chancellors.
Former Nigerian President Olusegun Obasanjo appointed him Nigeria’s Permanent Representative to the United Nations in New York, where he engaged with global leaders and advocating for a peaceful world, economic co-operation and human rights. The elder statesman used the opportunity to strengthen Nigeria’s ties with the international community while ensuring that Nigeria retained its leading position as a strong African voice.
He marked his 90th birthday in 2020 by donating the Arthur Mbanefo Digital Research Centre to the University of Lagos. It was a demonstration of his undying belief in Nigeria education and the future of Nigerian youths. Mbanefo was a recipient of the national honour of Member of the Order of the Federal Republic of Nigeria (MFR), Commander of the Order of the Niger (CON), Commander of the Order of Merit, Republic of Italy and a Grand Officer, National Order of the Southern Cross of Brazil.
In his tribute to the departed Nigerian patriot, President Bola Tinubu described him as one of the finest stocks of Nigeria’s elder statesmen, set apart by integrity, hard work, and patriotism. The President said that Chief Mbanefo, as a public servant, served Nigeria with dedication and a high sense of duty. While in the private sector, he pioneered innovations in the nation’s accountancy, tax, and audit systems. The president encouraged all who are mourning to find solace in the legacy of the late elder statesman, who will live eternally through his good work, etched permanently in our nation’s development tome.
No doubt, Mbanefo was a great Nigerian patriot and philanthropist, who dedicated his life to the accounting profession, the diplomatic service and the development of Nigeria. He was a great leader and mentor. We urge younger Nigerians to emulate the worthy examples of the departed accountant. We commiserate with the Mbanefo family, the people of Anambra State, Nigeria and the diplomatic community. Considering his contribution to the development of the accounting profession and national development, the federal government should immortalize him.
