Lateef Bakare

Lateef Akande “LAB’’ Bakare (born 20 June 1955) is a Nigerian businessman, accountant, tax consultant,business insolvency expert and philanthropist. He is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and Association of Chartered Certified Accountants (ACCA).He is a former managing director of the Nigeria Wire and Cable Plc.
Early Life
Bakare was born January 5, 1955 in Ilesha, then Western State of Nigeria (now Osun State).
Education

He was educated at Nawair Ud Deen Primary School,Mroko Road,Ilesha(1963-1968), Atakumosa High School, Ilesha(1969-1973) and the prestigious Yaba College of Technology,Yaba,Lagos(1975-1976).In 2008,he obtained a bachelor of Applied Accounting degree of the Oxford Brooks University ,UK.
As a student at the Yaba College of Technology, he passed 4 of the 5 parts of the ACCA professional examination within a year. He was reputed as the best accounting student in the institution at the period.
Subsequent upon passing the ACCA qualifying exam in December of 1976, he became an associate of the famous accounting body in July 1979.In August 1979, he also became an associate of the Institute of Chartered Accountants of Nigeria through direct membership.
Employment
Bakare began his career at Pannel Fitzpatrick&Co(Chartered Accountants) in April 1974 where he served as an audit assistant. In the course of working in this accounting firm, he participated actively in the statutory and financial audit of companies and parastatals such as Incar Nigeria, Enpee Industries, Fan Milk Plc, Chellarams Plc, and Nigerian Tourist Board, etc. In September 1975, he left the job to concentrate on his studies at the Yaba College of Technology.
After his success in the initial stages of the ACCA Examination, he was employed as a senior auditor in where he rose to the position of Partner before his voluntary retirement in 1991.At Deloitte Haskins &Sells ,Bakare held different key positions: Audit Supervisor(Jan. 1978-Dec. 1978),Junior Manager(Jan 1979-Sept 1979),International and Exchange Visitor,DH&S,UK (Oct. 1979-July 1980),Group Manager (Aug.1980-Feb.1981),Manager,North(March 1981-March 1984) and Director of Consultancy(July 1987-March 1991).
During his spell at the Deloitte Harris and Sells, Bakare had the opportunity of working on the accounts of many big businesses and corporations to wit: Leventis Group of Companies, Continental Breweries Plc, Technical Committee on Privatization and Commercialization(now Bureau of Public Enterprises, BPE),Ogun State Hotels Limited, Nigerian National Petroleum Corporation(NNPC),Nigerian Bottling Company Plc, First Bank of Nigeria Plc,UAC of Nigeria Plc, Cross River Breweries Plc,IVECO UK Limited(manufacturers of FIAT trucks),Turner and Newall UK Limited….

Upon his retirement from Deloitte Haskins &Sells in 1991, he joined the partnership of Adesupo Adetona,Bakare &Co to provide services in the area of business recovery and insolvency. As a managing partner in the combined practice, he acted in partnership as one of the consultants to the group of restructured banks following the Central Bank of Nigeria’s recapitalization directive in 2005, and also assisted many banks in Loan workout and Recovery strategies in situations clearly outside the scope of regular banking.
Directorship
Bakare has been engaged in the reactivation of several companies from receivership or shareholder changes. From 1998-2002, he served as a director on behalf Brau Haase Gmbh ,Germany to restructure the International Breweries Plc.
Also in 2005, on the instruction of a major commercial bank in Nigeria who was a creditor to the Nigeria Wire and Cable Plc, Bakare was appointed the Receiver/Manager when the company closed down operations for 18 months. In October 2007, following the reopening of the company, he was appointed the Managing Director .He retired his appointment from the company in December 2009 following completion of turnaround with turnover of over N2billion within the period of two years.
In addition, Bakare has served on the Board of many reputable and blue-chip companies in Nigeria such as Alumaco Plc(1996-2002),Nigerian Aluminum Extrusions Limited(1996-2002),DN Meyer Plc(1992-2010),Saro Agro Sciences Ltd(1991-2010) and 2016). He has been on the Board of Betaflex Ventures since 1992 and that of ‘D’ Clock Security Company Limited since 2008.

Public and social activities
Bakare has been involved in activities that will add significant value to the people and enhance their living standard. He has been involved in many aspects o financial restructure and he has used his training and vast professional experience in deepening the accounting and tax practices in Nigeria. He has participated in several international programme evaluation and review consultancy with the and the

From 1982-1984, he taught Taxation to final year Taxation students of the Bayero University Kano.
For about three years between (1977-1979), he served ICAN as a Students Revision Programme Lecturer. He was Member of Council (Kano District Society of ICAN, 1982-1985).Furthermore, in 1982, he served as member of ICAN visitation team for University accreditation under the Accelerated Training Programme .He was Guest Lecturer at the ICAN Mandatory Continuing Professional Education Programme in the year 2002.
He, in addition to the ICAN activities, participates actively in the activities of Business Recovery and Insolvency Practitioners of Nigeria (BRIPAN), an association in which he was a founding member. He has served this Association as honorary Treasurer (2005-2010), Member of Council and Member of Committee for Review of Insolvency Law and Practice.
In the 1980s, Bakare was prominent in the Junior Chambers International (JAYCEES) activities. Jaycees is a leadership and civic organization for people between ages 18 and 40.He was the organization President in Kano from 1984-1985 after having served, first as the Vice President and later the Secretary General in the same branch from 1982-1984. Bakare was Jaycees National Vice President (1985-1986), National Director of Training (1986-1987) and International Major Emphasis Theme Co-ordinator (1987-1988).
Bakare is also a member of many social organizations including The Ijesha Society, the Rotary Club where he is a Paul Harris Fellow. Equally, he is a Fellow of Osun State College of Education,Ilesha.He as well is a patron of the following groups: All Nigeria Confederation of Principal of Secondary Schools, ANCOPPS(Osun State Chapter);Nigerian Union of Journalists,NUJ(OSBC Chapter);Joint Association of Disabled Persons,Osun State Chapter and so on.

Philanthropy
Bakare is known for his charitable engagements, particularly in his home state of Osun. In 2008, he instituted a non-government organisation D-HOPE Foundation to serve as a catalyst for rapid socio-economic development of Osun State. Through the Foundation, he has provided many infrastructural facilities to the people of the state, including construction of boreholes (with overhead tanks and generators) in strategic places at Osun State Fire Station, Ilesha; Nigerian Police Force Area Command, Ilesha; and Abere Secretariat, Osogbo.
In collaboration with Women and Children Development Initiative Foundation (WOCDIF),the Foundation activated the construction and fencing of playing field at the School of the Handicapped,Osogbo;the rehabilitation and equipping of School of the Handicapped,Ikoyi,Osun State. The Foundation has also partnered with National Directorate of Employment (NDE) in funding many empowerment and employment programmes for youths from various local government of Osun State.
Awards and honours

In recognition of his immense contribution to his professional calling and humanity, Bakare has been decorated on several occasions.
In 1979,his employer Deloitte,Haskins & Sells recognized his outstanding performance for designing the fastest Computer Programme or Statistical Sampling in Deloitte Haskins &Sells, UK Computer Course in Maidstone,Surrey. In 1985, he also received an award as one of the Ten Outstanding Young Persons in Nigeria (TOYP) during a national selection that was conducted by independent judges and audited by Akintola Williams and Co.
He was inducted Fellow of the Association of Chartered Certified Accountants (Feb.1984), Fellow of the Institute of Chartered Accountants of Nigeria (August 1979) and Fellow of the Business Recovery and Insolvency Practitioners of Nigeria (May 2001).

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