LAGOS – Mr Gamaliel Onosode, frontline industrialist, technocrat and administrator, has died at the age of 82.
He died at 8.15 a.m. on Tuesday, his son, Ese Onosode, announced in a statement.
Meanwhile, some financial experts has described the death of Mr Gamaliel Onosode as a big blow to the nation’s capital market, the banking industry and entire corporate Nigeria.
They expressed their sentiments in separate interviews with newsmen in Lagos, agreeing that Onosode’s death would create a vacuum in the country’s business arena.
Mazi Okechukwu Unegbu, a former President of Chartered Institute of Bankers of Nigeria (CIBN), said that the country had lost a gem and an “epitome of moderation and simplicity”.
Unegbu, who described the death as painful, said that Onosode stood for truth, hated corruption and never accepted unethical conduct during his active years.
He said that the

financial community would surely miss him and prayed for the repose of his soul.
Mr Emeka Madubuike, the President, Association of Stockbroking Houses of Nigeria, said that Onosode was instrumental to the stability in the capital market and the economy in general.
Madubuike said that Onosode contributed to the country’s economic development as the chairman of various quoted companies and the Nigerian Stock Exchange (NSE) Investor Protection Fund.
He, however, said that the market would not mourn, but would celebrate him having died at a very ripe age.
He called on other corporate Nigerians to emulate and maintain his legacy.
Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., also said that Onosode’s death was a great loss to the entire capital market community.
Kurfi said that Onosode contributed his quota to the development of the NSE and the stability of the Institute of Chartered Stockbrokers (CIS).
He said that Onosode was also instrumental to the transformation of the capital market through efficient policies.
“We cannot forget him; Onosode is one of the greatest contributor to the market; the first doyen to be lost and we will surely miss him,” Kurfi said.
Mr Adebayo Adeleke, the National Secretary, Independent Shareholders of Nigeria (ISAN), said that Onosode was one of the pillars of industry in Nigeria.
Adeleke said that he was “a great influence on economic policies and development straddling over four decades.”
Reports state that Onosode, a frontline industrialist, technocrat and administrator, died at the age of 82.
Onosode was a former presidential candidate of the All Nigeria People’s Party of Nigeria.
He was educated at the Government College, Ughelli, and the University of Ibadan.
Onosode was one of Nigeria’s leading chief executives in the banking sector when he was at the helm of affairs at NAL Merchant Bank.
He was also a former presidential adviser to President Shagari and a former president of the Nigerian Institute of Management