Trust capital over venture capital: Dr Richard Ikiebe’s review hails VFD founders in ‘the challengers’
In a profoundly incisive review of Dr Eghosa Imasuen’s new narrative non-fiction work, THE CHALLENGERS: The Disruptive Nigerian Entrepreneurs Creating a Billion-Naira Company, veteran media scholar and policy strategist Dr Richard Ikiebe has issued a sobering verdict on Nigeria’s corporate landscape: the nation does not suffer from a lack of personal brilliance, but rather a […] The post Trust…
Veteran media scholar and policy strategist Dr Richard Ikiebe has offered a powerful critique of Dr Eghosa Imasuen’s new book, THE CHALLENGERS: The Disruptive Nigerian Entrepreneurs Creating a Billion-Naira Company. Dr Ikiebe, Chairman of the Board at BusinessDay, argues that Nigeria’s corporate landscape suffers not from a lack of brilliant individuals but from an inability to build enduring institutions.
He praises Imasuen’s work for revealing a deeper narrative centered on “trust capital,” the confidence that co-founders of VFD Group developed by sharing risks and responsibilities over many years. Dr Ikiebe asserts that VFD Group’s true disruption lies not in technology but in institutional governance, providing a blueprint for long-lasting success.
He emphasizes that Nigeria’s greatest entrepreneurial deficit is a lack of trust, which sustains partnerships and builds enduring organizations. Unlike traditional fintech firms, VFD Group’s success stems from its disciplined governance, shared ownership, and collaborative leadership. Dr Ikiebe warns that corporate collapse often results from unchecked egos rather than a lack of finance.
Ultimately, he contends that nations are remembered for the strength of their institutions, not just the brilliance of their founders.
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