Introduction

My name is Ifueko M. Omoigui Okauru. I am the middle child of my parents and the only girl. I am married to Mr. Asishana Bayo Okauru and we have four children. I hold a First-Class Bachelor’s degree in Accounting from the University of Lagos, Nigeria where I was a Chevron Scholar and valedictorian of the graduating class, a Master’s of Science degree in Management Science from Imperial College, London on a Commonwealth scholarship and a Master’s degree in Public Administration from Harvard University, Cambridge MA. I am a fellow of the Institute of Chartered Accountants of Nigeria (ICAN), the Chartered Institute of Taxation of Nigeria (CITN). I have served in various leadership positions and hold several awards including two national honors: “Member of the Order of the Niger (MON)” and “Member of the Federal Republic of Nigeria (MFR)”.

What do you do/where do you work?

I have a number of roles and responsibilities.

1. My primary engagement is as Managing Partner (and Lead Consultant) of Compliance Professionals Plc. – a compliance and management consulting firm that supports organisations, especially those with affiliations to the Public Sector to comply with current and changing rules and regulations. This role flows directly from my immediate past engagement as Executive Chairman of the Nigeria Federal Inland Revenue Service (FIRS) and Chairman of the Nigeria Joint Tax Board (JTB) between 2004 to 2012 (the first and only female till date) – where I played a pivotal role in driving tax reforms at the Federal and State levels. Accordingly, our work covers performance audits, restructuring and strategy consulting.
2. Other existing roles and responsibilities include that of:a. Founder and Adviser to ReStraL Ltd, a strategy, change management and organisational development consulting firm I set up in 1996. ReStraL owns and manages the Franklin Covey license (www.franklincovey.com) for Anglophone West Africa covering Gambia, Ghana, Liberia, Nigeria and Sierra Leone. Franklin Covey (FC) is a global company specializing in performance improvement, helping organisations achieve results that require a change in human behavior. FC solutions address improvements in Leadership, Productivity, Sales Performance, Trust, Execution, and Customer Loyalty. The motto of ReStraL Ltd is continually seeking the better way, so the goal is not just consulting but to ultimately ensure we add continuous value to whoever we serve.b. Founding member of the Board of Trustees and Chief Program Officer of DAGOMO Foundation Nigeria Ltd/GTE. DAGOMO is a family based Non-Governmental Organization geared towards building a community that values ageing and dying with dignity.

   c. Independent Non-Executive Director of the following public organisations – Central Security and Clearing System (CSCS) PLC, Nigeria Breweries PLC and Seplat Petroleum Development Company PLC; In these organisations, I also serve on board committees as Chair or member.

   d. Chairman of the Lagos State Employment Trust Fund (LSETF).

   e. Commissioner of the Independent Commission for the Reform of International Corporate Taxation

   f. Chairman of the Nigeria Tax Research Network 

How did you come about the decision of what you currently do? 

What I currently do has evolved from being intensely focused on whatever I do at any point and striving to do such very well. It has also evolved from a zest for continuous self-reflection and reappraisal of my strengths and weaknesses. I try not to dwell too much on weaknesses and failures. But to learn from such and then adjust as may be required. In that mode, I find that opportunities somehow open up to me as people seek individuals that fit a particular role.

In deciding on my choice of study in University, I was driven by what I felt will enable me excel. Hence, I chose Accounting, inspite of being able to study from a range of other considered professions such as Architecture, Engineering and Surveying.

In deciding my choice of profession – Management Consulting, I was led by the need to constantly discover myself as opportunities emerged. Switching whenever I felt I wasn’t fulfilled doing whatever I was doing. I settled into a life time career in consulting, having discovered it aligned with my creativity, sense of logic and passion to make change happen either in organisations that I serve, my country, Africa or Globally. I was also lucky to have people who positively influenced these choices – my parents, my teachers and my bosses at work. 

What I currently do has evolved from being intensely focused on whatever I do at any point and striving to do such very well. It has also evolved from a zest for continuous self-reflection and reappraisal of my strengths and weaknesses.

In deciding to be a founder of a business, I never considered myself as an entrepreneur but rather as someone seeking to create a place where I could be myself and have the freedom to think and do what I felt was the right thing to do at a time. In retrospect, I should also have developed the skills as an entrepreneur, a situation I am correcting now, after the fact.

My board appointments arose unsolicited. I had not thought of a career as a Board Director or Chairman, until the opportunities to do so came up. My decision to sit on boards, was driven by the fact that it aligned with my need to play a stronger role in Corporate Governance. It is also borne out of the reality that as we age, our role needs to shift from that of being a hands-on person to one that is advisory and allowing others to play the hands-on role. The corporate governance roles I play completely aligns with what I love doing.

As a person, I feel most fulfilled when I am free to think and be myself. That ultimately drives who and what I become and the choices I make.

What are some of the career choices that have led you to this point? 

After graduating from the University of Lagos, I started my career at Arthur Andersen & Co. (now split into three firms – KPMG Professional Services, Accenture and Andersen Tax) where I worked across the broad spectrum of Audit, Tax and Consulting services. I became partner and head of the firm’s successful strategy consulting practice before I left in 1996 to establish ReStraL Ltd, a Leadership and Management services organisation. ReStraL was born out of a desire to evolve consulting solutions tailored to the African environment as well as create the ideal place I would like to work in. I was primarily driven by the need to understand the underpinnings of factors needed to change Nigeria (and Africa) as well as add value to organizations through change in mindsets and human behavior.

At a transition point of reflection in my life, I was headhunted and appointed as the first female Executive Chairman of the FIRS and Chairman of the JTB. It was a fantastic opportunity to take advantage of. I am thankful to all those that made this happen.

I spearheaded comprehensive tax reforms that led to development of a national tax policy, modification of tax legislation and remarkable improvement in the effectiveness of Tax Administration. I served for two statutory terms and completed my tenure in 2012. I was also a part-time member of the United Nations (UN) Committee of Experts on International Cooperation in Tax Matters between 2009 and 2013.

After completing my tenure at FIRS, I needed time for family as well as to reflect on my life.  I took up the advice of my husband to go for additional studies. I applied and was admitted to Harvard for a Master’s degree in Public Administration. It was a great year of reflection.

During that same time, I needed to work on other areas that I had not given priority attention during my eight-year stint at the FIRS.

ReStraL was born out of a desire to evolve consulting solutions tailored to the African environment as well as create the ideal place I would like to work in. I was primarily driven by the need to understand the underpinnings of factors needed to change Nigeria (and Africa) as well as add value to organizations through change in mindsets and human behavior. 

ReStraL needed my attention and I returned in an advisory capacity to refocus ReStraL on managing the Franklin Covey license. I took this decision deliberately even at personal cost, as I was convinced that the products and services offered were needed in the markets we served. One product that had made significant impact on my life and who I had become is the “Seven Habits of Highly Effective People”. I needed to drive the process of offering others – individuals and organisations, the same product that had “changed my life” positively.

I became more active in ensuring DAGOMO Foundation become more operational after it was setup by family members in 2007. In my role at the foundation, I am driven by the sheer absence of social and physical infrastructure to serve a group that have given their best to their country, community or family and yet as they age and become more dependent on society, the society is not in a position to serve them in their time of need. I am also driven by the need to see the elderly as part of the society, participating and sharing their experiences as may be required to help mold the succeeding generation.

This role took added significance in 2016, after watching my late mother unsuccessfully battle for survival in Nigeria’s healthcare system. Increasingly, I find that beyond the need to focus attention on aging and dying with dignity in the Nigeria and Africa space, attention to affordable and qualitative healthcare is an area significant value can be created.

My role in DAGOMO is supported through my leadership of Compliance Professionals Plc, which currently serves as a major funding partner to DAGOMO as part of its Corporate Social Responsibility.

In my role at the foundation, I am driven by the sheer absence of social and physical infrastructure to serve a group that have given their best to their country, community or family and yet as they age and become more dependent on society, the society is not in a position to serve them in their time of need.

What inspires or drives you, why do you do what you do?

Everything I do is inspired by one underlying goal; to make an impact. All my career choices, roles, businesses and educational choices have been geared towards making impact and bringing about change and development particularly in Nigeria.

What are some personal attributes/skills/habits that have helped you get here and helps you in keeping up with the demands of what you currently do?

1. Result Orientation: I set huge goals and I am driven to achieve those goals. Goals for me can be summarized as making an impact, so I do not just set out to do something just because I want to do it, rather I do it because I want to make a certain impact or effect a certain change. 

2. Intense Focus: My result orientation mindset keeps me focused and undeterred by hiccups or challenges along the path or journey to achieve those results. Once I have my goals and I make up my mind that this is where I want to be or what I want to do, I am ready to go the whole stretch. This result-oriented mindset was driven into consciousness from my early days and was a main driver of me aiming for the top of my class. 

3. Personal Sacrifice: I do this to a fault. I also understand the concept of personal sacrifice. At the heart of my personal attributes is result orientation, but I know these results cannot be obtained without being willing to make sacrifices or tough decisions.

4. Money as enabler NOT Incentive/Prudence: I see Money as an enabler and the outcome of what I do not why I should do what I do. Money is therefore not an incentive for me, rather I view it as an enabler. This may be because I was borne into a middle-class household where basic comforts where provided. Yet, I know others with the same background who think differently. That’s a possible area of research!!! This attitude has supported my ability to focus without getting distracted by the quest for financial gain. What I have found with time, is that if you work hard, stay focused, and be patient (If you can), money comes. Money in itself does not give fulfillment. Achievement does. Tied to my perspective on money is my ability to be prudent and make cost effective decisions.

I set huge goals and I am driven to achieve those goals. Goals for me can be summarized as making an impact, so I do not just set out to do something just because I want to do it, rather I do it because I want to make a certain impact or effect a certain change…Once I have my goals and I make up my mind that this is where I want to be or what I want to do, I am ready to go the whole stretch.

5. Personal Discipline and Resolve: This can be regarded as a sum of my focus, personal sacrifice and being prudent. It’s an extremely important habit that has helped a lot in taking decisions that turned out to be worthwhile. This has also helped me to not get discouraged when things do not work out as expected. There was a time during my tenure in FIRS, when the incumbent president was to launch a planned activity and then it got changed and someone else did it. The choice of person to launch the activity had become political inspite of the fact that the program had been planned and approved. I recall that my husband who was present at the event, was surprised that I displayed no emotion and just went ahead like nothing had happened. I responded that getting annoyed would not help the process. What was important was for the event to hold, which it did. This is how I approach issues and it is also closely tied to my resolve. Having a strong sense of resolve means I am not bothered by how complex a journey or process may be, I focus on what can keep me on track to achieving my goal. This strong sense of resolve also helps me see opportunities in challenges so rather than get discouraged by complexities, I focus on what I can do to unravel the complexities.

…This is how I approach issues and it is also closely tied to my resolve. Having a strong sense of resolve means I am not bothered by how complex a journey or process may be, I focus on what can keep me on track to achieving my goal. This strong sense of resolve also helps me see opportunities in challenges so rather than get discouraged by complexities, I focus on what I can do to unravel the complexities.

6. Reflection and Introspection: I do a lot of introspection, this is the quality that has made me evolve over time. I do a lot of self-evaluation, self-correction and hold myself accountable for my actions. If things are not going well or as expected, I stop and introspect and ask, could I have done it differently? I go inwards to evaluate, so I continually seek the better way which is the ReStraL motto when I founded it. Introspection helps me stay objective and avoid internalizing any sense of not having done well enough. For example, when I left FIRS, I was so drained out that I said to myself, I am never going to work in government again, I am sure there must be a better way to help Nigeria. I went to Harvard thereafter. My time there served as a big introspection period for me. I would talk to some of my professors and tell them I did not achieve much during my time in FIRS and left feeling drained, but they encouraged me to sit, evaluate and write what I was able to accomplish during my tenure and this helped me see my time in FIRS in a different light. I am grateful to my husband for influencing that decision of going to Harvard. I am also grateful to all those persons I meet on the road, at airports, staff, non-staff, general public, who constantly give me feedback on what I have done right or not done. Introspection also helps me understand my strengths and weaknesses which plays a big role in my decision making. For example, when I was going to make my career choices, architecture appealed to me. However, after evaluating my strengths and weaknesses and asking myself if my creative ability was suited for the field of architecture, I decided I wasn’t likely to be the best architect around. I therefore erred on taking a practical decision to study accounting. Also, understanding my strengths and weaknesses helps me make choices that leverage on my strengths and work on my weaknesses rather than dwell on them. For example, I tend to take a more logical approach in my decision making which can be regarded as harsh because women are expected to be more emotional. Instead of dwelling on not appearing emotional or considering it a weakness as a woman, I try to balance it by ensuring I work with people who are more emotional to balance my logical way of reasoning.

What I have found with time, is that if you work hard, stay focused, and be patient (If you can), money comes. Money in itself does not give fulfillment. Achievement does.

7. Creativity and Continuous Improvement: Finally, I approach everything I do like an artist. I consider my role as a consultant like that of an artist who wants to create beauty. So anytime I am given something to work on, I look at it like I am given a plain sheet to draw on and my advice or strategy is what gives beauty to those who are coming to me. This was the same mindset I had when I started my job at FIRS. I had not worked in the Government prior to my appointment. Aside from the significant impression made on me by President Obasanjo at the time, and the economic reform team led by Dr. Ngozi Okonjo Iweala, that I was to be a part of, the clincher in taking on the appointment was when the then Permanent Secretary to Mr. President, Mr. Steve Oronsaye, explained what was expected of me; that I should leverage on the outcome of a Study Group report on the Nigerian Tax system, and do whatever I felt was needed to achieve the President’s Economic Agenda. This aligned completely with my innermost self – having the freedom to design, act and achieve results that would impact the Country. That whole process led to a lot of comprehensive tax reforms – development of a national tax policy, modification of tax legislations and remarkable improvement in the effectiveness of Tax Administration in Nigeria. 

I do a lot of introspection, this is the quality that has made me evolve over time. I do a lot of self-evaluation, self-correction and hold myself accountable for my actions. If things are not going well or as expected, I stop and introspect and ask, could I have done it differently? I go inwards to evaluate, so I continually seek the better way which is the ReStraL motto when I founded it.

Do you have a spiritual practice? If so, has this influenced or helped you in your work or decisions in anyway? 

I am a Catholic, a fervent believer in the Catholic faith which recognizes all religions, but not as devout as I should be. I say short prayers before I do anything. I believe in God’s power. After all is said and done, I believe in doing your best and leaving the rest to God. I also believe that all of my ways and paths have been designed by God. I submit myself completely to Him. 

One more thing you intend to do or are working towards 

I have on my bucket list of things I still need to do:

1. Research on why Nigeria/Africa isn’t making progress as fast as we want it to.
2. Understanding our ethnic heritage and social cultural psyche. I am currently working with other contributors to write a book on this.

Hopefully, 1) and 2) should culminate in doctoral research on the psychology of Nigeria and how to change the psyche

3. Produce and be one of the lead singers in a musical recording of my Mom’s favorite hymns

Also, understanding my strengths and weaknesses helps me make choices that leverage on my strengths and work on my weaknesses rather than dwell on them. For example, I tend to take a more logical approach in my decision making which can be regarded as harsh because women are expected to be more emotional. Instead of dwelling on not appearing emotional or considering it a weakness as a woman, I try to balance it by ensuring I work with people who are more emotional to balance my logical way of reasoning.

Other insights or words of wisdom/encouragement you would like to share with the readers? 

1. No one knows tomorrow; do your best but don’t push yourself to a breaking point– work and relax (in your own unique way);
2. We are all unique and different, spend time discovering yourself, this is how you find out your purpose, passions, abilities and capabilities;
3. We all have difficulties that we choose not to talk about, so no person’s life is perfect; Do not dwell on difficulties; focus on solutions;
4. Be happy with yourself and focused on what and who you want to be;
5. Let your actions be driven by principles not just values. For example, if you value success, then understand that success is a process – we need to be patient with ourselves in achieving the success we seek;
6. Don’t stay static, continue to evolve with your knowledge of self and your environment;
7. We get tested as we proceed on our life’s journey, learn from successes, failures and mistakes and move on.

Thank you

Ifueko Omoigui-Okauru