Mrs. Teju Phillips, Chairman of the Board of Lasaco Assurance Plc. is a successful Chartered Accountant who obtained the ACCA from England and Wales, who has traversed boardrooms. In the course of her career, she served at various times between 1999 and 2003 as the Commissioner for Special Duties and Intergovernmental Relations and Commissioner for Commerce, Industry and Tourism during the first term of the then governor of Lagos State, Asiwaju Bola Ahmed Tinubu, who is now the President of Nigeria.
Philips, the only child from the union of late Ambassador Antonio Dehinde Fernandez and Princess Ibilola Lipeden extolled the virtue of her father as a core Lagosian. “My father who is an indigene, was extremely passionate, a believer in everything Lagos, Nigeria and Africa in total.
In this interview, the mother of four talks about the exploding developments in the emerging mega city and vital policy issues relating to the Insurance Industry. She also pleads with Nigerians to give President Tinubu the breathing he needs to tackle the country’s problems successfully.
By Agatha Emeadi
You seem to have kept quiet on the political front while featuring prominently in the boardrooms of companies. Is there any particular reason for this?
My boardroom exposure stems from both political and professional appointments. Having worked in UAC for over 10 years, I was able to study what a board structure involves, which is now known as corporate governance. My exposure to politics helped me to firm up on the ability and capability to manage people and develop my professional experience and other contributions that are necessary for board politics and deliberations.
Politics and its game are not strange to you. Who introduced you into politics?
My late father did. But having worked in corporate organization like banks, he really wanted me to be in politics because he was involved in politics around the world. He was a Nigerian ambassador to many countries in Africa and insisted that since I have the capacity and capability, I should get involved and that was how I got into politics. He was involved in politics from the time of Pa Obafemi Awolowo and others.
Was he alive when you became a commissioner? How did happen?
Yes, he was. My father was highly instrumental to my becoming a commissioner when the present President of Nigeria, Senator Bola Ahmed Tinubu, was the governor of Lagos State.
You were one of the few women who served in Lagos State when President Tinubu was the governor of the state. How did it happen?
Though gender advocacy is high now, there was awareness and empowerment back then. Obviously, there are a lot of women out there who can do what the men are doing. I have always advocated that women should be granted their rights and privileges, they should have what they are entitled. Most importantly,I always beg the women to remember we are in Africa and manage their men well. We are still a developing country. Chauvinism still runs high in Africa. So, if you have to be there, manage it well for the sake of posterity.
Was there chauvinism when you people were in government?
Chauvinism has always and will always be there because we are just building the aroma of inclusion of women. It is a natural phenomenon for them. They are trying very hard to drop the women and we just have to tag along. Even if they don’t want to put us into positions when appointing cabinets, we don’t must not give up as women. We must hold on because one fine day, we will have a woman who would be able to appoint women and men together.
What would you be remembered for as a commissioner in Lagos State between 1999 and 2003 when you served?
I would be remembered as a commissioner who tried her best in all responsibilities given to her and because of my faith and commitments in my state which I believe in. I also want to agree that I was there to set a pace for the other women to come on board.
Were you a registered member of any political party at the time?
I have always been a member of the party, which is now known as APC. I have never been in any other party, but on the progressive platform.
When you recall Nigeria of your youth andk present time, what thoughts come to your mind?
Growing up in the 70s, life was easy. If one doggedly wanted to achieve anything, such a person would get it. But the awareness is high, it is a tough terrain in terms of competition and so many people out there wanting the same thing. It is tough now. The kind of risk we face with security men was not there then. Again, we were easily content with what our parents gave us. The value of time now is money with everyone rushing to have money which was not what we had then. We focused on our education and worked hard. All these has gone with history, not the same again now.
What can we attribute this to?
It is as a result of change in life’s values.
There is no way we can talk about the loss or change of values without highlighting the role of the leadership…
This is another terrain completely. Do not forget that a leader is among the people. You cannot hang everything on a leader. The people are the ones that make the leaders. Do not also forget that Nigeria is in a position where it is highly complex to rule. A developing company is not easy for anyone to embrace in governing, no. Then, the tenure of a leader revolves around people saying, this person is not good etc; but they forget that it is the situation around all which is tough and complex. I am not exonerating anyone, rather, we need to come together, change our mindset on so many things, both the person governing and the governed. Times have changed. Let us all believe that this country will be great. Then to you and I, make positive contributions, not from the leader alone. I am talking generally on leadership.
Governance has been associated with alarming incidence of corruption? What do you have to say about that?
We are trying to fight corruption and every leader comes to say he is fighting corruption. Note that Rome was not built in a day. One can only do as far as he could and the next person carries it further. We just keep making policies to improve our lives.
We recently celebrated the International Women’s Day. What is the status of women today?
We are still fighting for the Beijing Rights and it can only get better if we keep fighting for our own right. In fact, the world has moved from the Beijing ratio. In some countries it is now 50-50. As a developing nation, we are still asking that we be started with one-third of the ration. It has to be a selfless effort for women inclusion and a must that we have to continue our advocacy to ensure that women get their due in governance.
As a Lagosian who has lived and worked in the state, is this your dream state now in terms of development?
In terms of development, I would say from 1999 to 2003, one cannot compare what we have now to what we had then. I was part of the foundation building. We have had governors who have performed, who have implemented and executed all the dreams. Somebody who left the country in 2003, might not know the way to his home while coming back now. With multiple road projects taking place, health, education and even the rail projects that have just been commissioned including transportation upgrades, Lagos is actually turning into a mega city. And one cannot take that away from the progressives who have governed Lagos State. I am proud to have been a fundamental foundation member of Lagos State.
How did you become the chairman of Lasaco?
I was appointed by the board.
Were you on the board already?
No. I am representing the Lagos State government.
What changes have taken place in the insurance industry?
The insurance industry has a statutory board governing it. There are a lot of policies they are trying to change now for a better environment. Re-capitalization is there. Your financial base must be sound, so that those who deposited their funds for investment do not lose out at the end of the day.
Then, NAICOM (National Insurance Commission) is doing its best to make sure every insurance company conforms to and complies with the regulations. Because I am an accountant, I believe that the re-capitalization should be done in stages, of which NAICOM is trying to do now because if you throw them from N10 million base to N100 million it will kill that company. I am appealing for a gradual measure for all.
What about Insurance Scheme for the companies?
It is a composite which includes all.
You served as commissioner when Asiwaju Bola Ahmed Tinubu was governor of Lagos. Now that he is the President of Nigeria, what can you say about him?
Nigeria is a complex country to run; we all just have to be patient. President Tinubu is cerebral enough, he has the mental capacity, and capability to turn things around in Nigeria, for the better. Please give him a chance.