The Chief Executive Officer of Coronation Registrars Limited, Oluseyi Owoturo, speaks with NAOMI CHIMA, about his career and other issues
What prompted your entry into the capital market?
Growing up, I always wanted to be an engineer. I was fascinated by electronics and used to take apart radios and other gadgets just to understand how they worked, before putting them back together. I was very interested in technology from a young age.
When it was time to choose a career path, my father, who was a senior civil servant, and my principal advised me on the options available to me. I initially wanted to study electronics, but going abroad to study was not financially feasible at the time. I also considered medicine, but eventually settled for accounting.
At the time, I thought that if I could not do something I was passionate about, I might as well do something that could give me financial success. That was how I ended up studying accounting and eventually entering the financial services industry.
I started in venture capital, moved into stockbroking and later went into the registrar business. I have never regretted that decision because my interest in technology has continued to help me throughout my career in the capital market.
I have worked closely with technology professionals and participated in initiatives around electronic offerings in the Nigerian market. Technology is increasingly critical to how securities are distributed and how investors participate in the market, so my early fascination with electronics has actually helped me understand the intersection between technology and the capital market.
What childhood experience shaped the way you see the world today, and what values did you grow up with?
My father was a very principled and gentle man. He rarely disciplined us physically, but I respected him greatly and never wanted to disappoint him.
Growing up, whenever I was tempted to do something wrong, I would remember that my father would be disappointed in me. That alone was usually enough to make me reconsider my actions.
That experience taught me the importance of principles, responsibility and doing what is right even when nobody is watching. Those values have remained with me throughout my life.
Today, I approach my work with the same mindset. Whatever responsibility is committed to you, you should handle it as though your life depends on it. You should be determined, focused and committed to delivering results, but you do not have to be aggressive about it.
How did your education prepare you for the corporate world?
My background in accounting has significantly influenced the way I approach business. Many people underestimate the power of accounting, but accountants essentially monitor the financial health of businesses.
Accounting taught me to pay attention to numbers, accountability and the consequences of financial decisions. Courses such as company law also exposed me to issues around fiduciary responsibility, governance and the obligations that come with managing businesses.
The capital market is fundamentally built on trust. Investors and shareholders have to believe that the institutions managing their interests are accountable and responsible. My professional training prepared me for that responsibility and helped me understand the importance of ensuring that the businesses I oversee maintain good financial health and operate responsibly.
Who was your biggest role model growing up?
My role model was Nelson Mandela. What inspired me about him was his willingness to live according to what he believed in and commit himself to serving his people.
He taught me that if you genuinely believe in something, you should be committed to it and allow your actions to reflect your beliefs.
Many people talk about what they believe but do not necessarily live by those principles. Mandela was different. He lived what he believed, even when doing so came at a great personal cost. That level of conviction and commitment has always inspired me.
What is one major mistake you see business owners making today?
One major mistake I see is that many entrepreneurs confuse cash flow with profitability. The fact that money is coming into a business does not necessarily mean the business is profitable.
Profit is what remains after you account for all the costs involved in running the business. Even when you make a profit, you still have to retain enough of it to continue operating and grow the business.
Young entrepreneurs, especially, need to understand financing and how money works within a business. You can make a lot of sales and have substantial cash in your bank account, but that does not automatically mean your business is financially healthy.
Business owners need to understand their numbers, manage costs properly and distinguish between revenue, cash flow and actual profit.
What does success mean to you?
Earlier in my career, success meant building a sustainable business, delivering on promises to customers and developing people who could eventually take over from me.
Keeping promises to customers was particularly important to me. When you deliver on your promises, you earn people’s trust, and when customers trust you, they come back.
Today, I have a broader understanding of success. After many years of hard work, I also appreciate the importance of having some financial comfort to show for one’s efforts.
Money was not my primary focus earlier in my career. At the time, I was more concerned about building something sustainable, developing people and creating value. But as you get older, you begin to appreciate financial security as well.
I think, for me, success will also mean having a bit more money and being able to look back at all the years of toil and see that they have resulted in some level of comfort and security.
If you could go back to school and study something different, what would it be?
I would study technology, particularly electronics. I have always been fascinated by it.
The power of electronics and technology is enormous. So much of modern life depends on electronic systems, and electricity is critical to development.
If we could solve our electricity problems locally, it would transform many aspects of life and business. It would reduce the cost of running businesses, improve productivity and create opportunities for many people.
That childhood fascination with electronics never really left me.
How can Nigeria improve youth participation and trust in the capital market?
Education is critical. People need to understand that the capital market is not a place to gamble. It is a place to invest with knowledge, discipline and patience.
We also need to improve access. Young people want to do things digitally and from their phones. They do not want to go through complicated processes or fill out endless forms before they can participate.
The capital market needs to make it easier for people to open accounts, invest and monitor their investments digitally. Technology can make the market much more accessible.
However, young people also need to know that these opportunities exist. There has to be more financial education and awareness about how the capital market works, the products available and the risks involved.
If we can combine education with easy digital access, I believe more young Nigerians will participate in the market.
What practical money or leadership advice would you give young Nigerians trying to build wealth?
People often confuse savings with investment. Savings are primarily about preserving money, while investment involves putting money at risk with the expectation of earning a return.
The key is to invest with knowledge rather than blindly. You do not have to start with a huge amount of money. You can start small and build gradually. Even someone earning a modest income can begin investing regularly with a small amount.
Simply keeping money in a bank account does not necessarily increase its value, particularly when inflation is high. People need to understand how different investment options work, the risks involved and the potential returns.
My advice is to educate yourself, start small, remain disciplined and seek professional advice where necessary.
How do you keep your team motivated during difficult economic periods?
The most important thing a leader can do is walk the talk. If you tell your employees that times are difficult, you also have to demonstrate that you are conscious of costs and willing to make sacrifices.
You cannot live extravagantly while asking your employees to understand that times are hard. Leaders have to show that they are also taking steps to reduce unnecessary expenditure.
Empathy is equally important. If employees have to work late, for example, you should show concern for their welfare. You may not be able to solve all their problems, but showing that you care makes a difference.
Leadership is not just about giving instructions, it is about setting an example. If you expect your employees to treat customers well, you must first treat your employees well.
How do you relax and ease stress?
I used to play lawn tennis, although I do not get to play as often as I used to.
When I have a free weekend, I enjoy staying at home, watching documentaries and relaxing. I particularly enjoy documentaries about nature, lifestyle, architecture and other informative subjects.
I also love nature. Sometimes, simply being in a quiet environment and taking a break from the demands of work is enough to help me recharge.
What is your long-term vision for the registrar industry in Nigeria?
Technology has the potential to eliminate some intermediaries, so the question is: what role will an intermediary play in the future?
I see the registrar playing a role similar to that of a referee in football. Technology can assist the referee, but ultimately, the human being still has an important role to play in making decisions and ensuring that the rules are followed.
For registrars, that role is increasingly about trust and governance. A registrar should not simply be a processor of payments and transfers. The registrar should help ensure that companies fulfil their obligations to shareholders and maintain trust.
My vision is for the registrar industry to become increasingly focused on governance, accountability and ensuring that companies keep their promises to shareholders.
Technology should enhance that role, not eliminate it.
What is one thing on your bucket list that has nothing to do with work?
I would like to experience something similar to a survival adventure. I imagine myself going into the jungle or desert and taking part in some kind of survival experience.
I think it would be fun to put myself in an environment where I have to rely on basic skills and figure things out without the conveniences of everyday life.
What is your favourite local food or comfort meal?
I really enjoy amala with ewedu, prepared and served traditionally. These days, when I go to parties, that is practically all I look for (laughs).
I also think Nigerian food has enormous potential internationally. We have focused heavily on taste, which is important, but we should also pay more attention to presentation, packaging and how our foods are paired and served.
Nigerian cuisine can become a major export if we present it properly and make it more appealing to international audiences.
If you could take a free holiday anywhere in the world, where would you go?
I would go to the Swiss Alps. It is such a beautiful place, and I would love to experience the scenery and tranquillity.
What skill are you deliberately learning now?
I am learning how to use artificial intelligence more effectively.
The power of AI is almost unimaginable. I recently used it to work through a task and eventually arrived at a result that was very close to what a consultant would have produced.
However, I do not believe you should leave your work entirely to AI. You need to have knowledge of the subject you are dealing with. AI should be used as a tool to help you research, extract information, analyse issues and shape your thinking.
With the right knowledge and prompts, tasks that would normally take days can sometimes be completed much faster.
I am still learning, but I believe AI can be an extremely powerful tool when used correctly and responsibly.
How do you teach your children about saving and managing money?
My children have bank and investment accounts, and they know about the investments made for them. When they receive dividends, for example, I encourage them to reinvest the money rather than simply spend it.
I also teach them delayed gratification. The fact that you can afford something does not mean you have to buy it immediately. You should ask yourself whether you really need it or whether the money could be put to better use.
They are also encouraged to understand and track their own money. I believe the best way to learn about money is by actually managing it.
I want them to understand that money is a resource that should be managed responsibly, rather than something that should simply be spent whenever it becomes available.
