By Christy Anyanwu
Femi Gbede is an investment attorney who recently made the mark when he was named among top 40 Black lawyers who are under 40. Based in the United States, he is doing exploits in his legal profession and has also taken to assisting law graduates and undergraduates through his growing scholarship scheme.
Please give us a snapshot of your family, educational and professional background.
I was born in Lagos. My dad is from Ijebu-Ode while my mum hails from Ijebu-Imushin. You could say that I am an undiluted Ijebu man. I am the second of four boys from my mum. I am married and blessed with a baby boy. I have a background in journalism. I studied Mass Communication in Lagos State Polytechnic and graduated with distinction. I later studied Law in Ogun State University, where I graduated as the best student, and served in several leadership capacities including being the Class Governor for five years, Public Relations Officer of the Law Students’ Society, Senator representing the Faculty of Law at the Students Union Government, during I served as chairman of the Constitution Review Committee. I later proceeded to the Nigerian Law School, where I served as an executive member of the Students Representative Council. I’m also an alumnus of New York University (NYU) and Cambridge University. At NYU, I was elected to represent students from across the globe at the Students Bar Association. I was similarly elected to represent my peers at the Graduate Law Society, University of Cambridge.
I started my legal career at Olaniwun Ajayi LP in Banana Island, Lagos. I had a brief stint with a top multinational bank in New York, and I’m currently an investment funds attorney at the New York office of Fried, Frank, Harris, Shriver and Jacobson. I have served as the Treasurer of the Nigerian Lawyers Association in New York.
You have great passion for the legal profession. Who influenced you to become a lawyer?
I had always wanted to be a lawyer. I wouldn’t say anyone influenced me, to be honest. I guess the respect that the society accords members of the profession may have played a part. I remembered nursing that ambition as far back as the early days of primary school. I don’t even recall having any figure in my family that was a lawyer. I may have been the first lawyer in my family. We have other professionals, but I didn’t know of any who was a lawyer. Also, I was in the arts class in secondary school and when you’re in the arts class, the number one profession you would think of is the legal profession. For those in the sciences, it’s medicine. If you’re a commercial student, you’ll have accounting in mind. That mentality is changing now, of course, because there are many areas one can venture into and flourish, not just the traditional professions that our parents believe will make you succeed in life. As a matter of fact, the idea of going to the arts class was entirely mine. I did well in my Junior School Certificate Examination and the school authorities were going to force me to go to the science class. I stood my ground, wrote a letter and they eventually let me chart my own course.
Tell us about your first day in court as a lawyer. Was it in Nigeria or the overseas. What was your first assignment as a lawyer?
I can’t even remember my first day in court at this point, but whatever day it was, I believe I must have been led by a senior. The reason I couldn’t remember is simple. Before I got admitted to the Nigerian Bar, I had fantasized about wearing the wig and all the other paraphernalia. It was a moment I had waited for, but that hope was dashed when I joined the firm of Olaniwun Ajayi LP. If you are familiar with Olaniwun Ajayi, you’ll know it’s one of the few law firms in Nigeria that law students would do anything to get an offer of employment from. I was lucky. On my first day, I found myself drafted to the Banking and Finance Practice Group. Immediately, I knew there would be nothing like going to court as I had planned. I had to work on a lengthy loan agreement involving the International Finance Corporation. By the time I got the chance to go to court, my initial excitement had waned. Of course, I fell in love with corporate law practice, even though I did litigation for a while too, in the course of my rotation.
The International Finance Corporation has created a financing window which private sector firms in Ghana and Ivory Coast are using to modernize their healthcare sectors in collaboration with their nationals in the Diaspora. But Diaspora Nigerians are not taking advantage of this, yet they complain about the way things are in the country. Do they have any justification?
I’m aware of the collaboration amongst International Finance Corporation, Royal Philips and the Cooperative Bank of Kenya. It’s a good initiative which will help smaller businesses in the health sector. I think the job should start from those running those types of businesses in Nigeria. If there’s any way they wish to collaborate with those in the Diaspora, they should open that line of communication to get things done. Information is key. Some folks in Diaspora may be interested, but what if they don’t even know about this opportunity to contribute to the sector? There should be an efficient way to engage those in diaspora on opportunities like this. I believe NIDCOM should be at the forefront of this.
Many economies experienced turbulence due to COVID-19 pandemic. Nigeria was not an exception. In our case, the dip in global oil prices worsened the situation, but that’s not an excuse. The International Monetary Fund’s (IMF) view was that Nigeria would return to low-to-moderate growth in 2022. With the size of our population, I think we are an attractive consumer market for investors. We saw the reforms made to facilitate business set-up. That was commendable. Allowing electronic stamping of registration documents and removing the bottlenecks in the process of obtaining permits were steps in the right direction. No doubt, all these reforms helped in no small way to improve the country’s ranking on the World Bank’s annual Doing Business rankings. But all of these reforms will mean nothing and won’t attract FDIs in critical sectors when we don’t deal with fundamental problems like corruption, security, and power. These are serious obstacles to the country’s economic growth.
If you were to meet Mrs. Abike Dabiri-Orewa, Chief Executive of the Nigerians in Diaspora Commission (NIDCOM)what would you tell her on how to make Diaspora Nigerians take greater interest in investing in the country?
I have said it before and I’m going to say it again, fix the power sector, deal with corruption and make the country safe. When these are done, Nigerians in Diaspora and investors generally, will be willing to invest. These issues erode investors’ confidence. The earlier we fix them, the better.
What does making the ‘Top 40 Black Lawyers Under-40’ mean to you?
It means a lot to me. It’s an indication that I’m doing something right. It’s a call on me to continue to punch above my weight. Accolades like this are like catalysts that push one to attain greater heights and reach for the stars. I’m definitely not relenting.
I recall that sometime in 2017/2018 or thereabout, a young man that I didn’t know before, reached out to me on LinkedIn for assistance with his Law School tuition. I didn’t think twice with my decision to support him. As a matter of fact, I was already thinking of starting a scholarship scheme at the time. So, it was as if he read my mind and knew that if he reached out to me, he would get the support he needed. He was right! His request was timely. I’m sure it must have felt like a jackpot for the young man as I didn’t stop with that initial support. I also decided to send a token to his bank account every other month while he was studying at the Law School so that he could focus and wouldn’t be distracted too much by money issues. That’s something that I do for all my scholars. I have eight of them currently studying at different campuses of the Nigerian Law School. That young man turned out to be my very first scholar. To be honest, I have been fortunate as a student myself, to study on scholarship, based on academic merit. So, what I’m doing now is a way for me to give back to the society, especially when one thinks of the economic travails that Nigeria is going through. Success for me isn’t about what you have done for yourself alone. It consists in what you are able to do for others, the impact you are making in people’s lives. My scholarship programme is also a way for me to say thank you to God for what He has done in my life.
What lessons have you learnt about life?
Life has taught me to never give up on my dreams. There is a popular saying that winners don’t quit and quitters don’t win. In fact, one who doesn’t throw the die will never score a six. I’ve learnt to always pursue my dreams even if the heaven falls. I’ve also learnt that the way to actualize my dreams is by taking action. It’s fine to envision and talk about them, but it’s a complete waste of time if one doesn’t act. Make a conscious effort to actualize your dreams. There’s no harm in trying. The worst that will happen is that you will fail and when you do, you learn. Don’t believe anything is impossible. The only thing standing in the way between you and your dream is you.
What advice do you have fresh law graduates getting into law firms for the first time?
I’ll tell them to not feel pressured about the area of practice they want to specialize in. That will sort itself by the time they join a law firm, if that is the path they choose to toe. In fact, these days, many law firms will give them the opportunity to rotate practice groups at the beginning. That way, they can appreciate which one appeals more to them. For example, I wanted to be a litigator, but I ended up becoming a corporate attorney because I tried it out and I liked it. Again, for those who plan to ride it out in law firms, I’ll advise that they develop their people skills. Law is a business. So, a time will come when their technical expertise will not mean much. At that point, a lawyer’s rain-making prowess assumes ascendancy. As a partner in a law firm, your business generation strength is key. They should forge friendships with their colleagues in business schools and in other fields. They will turn out to be their clients, years later.