Okuludo of Idoma: The millionaire who preferred to save his money in large iron safebox instead of bank

Profile: Chief Ogbodo William Ede, AKA “Nothing is New,” AKA “The Okuludo of Idoma”

Born in 1928 into the family of Mr. Ede Onu and Mrs. Anoyi Edeh of AI-gwuche Clan of Ochobo in Ohimini Local Government of Benue State, Chief Ogbodo William Ede’s life was a testament to resilience, hard work, and a deep sense of mission.

Early Life and Struggles:

Chief Ogbodo Ede’s journey began with adversity, as he lost his father in 1932 at the tender age of four. Raised by his uncle, Mr. Odah Onah, he developed a strong ambition and determination to succeed in life, despite the absence of formal education due to financial constraints.

It was during his time with his uncle that young Ogbodo Ede honed his industrious nature and work ethic. He started his life as a peasant farmer in Ochobo at the age of thirteen, a role he cherished and maintained throughout his life. He often shared stories with his children of how any land he cultivated would flourish, yielding bountiful harvests.

Venture into Business:

While farming was a passion, Chief Ogbodo Ede’s entrepreneurial spirit led him into the world of business. Beginning with petty trading in items like sugar, soap, biscuits, and more, he traveled to various local markets, including Eke, Ede, Afor, Ukwo, and neighboring areas, to sell his wares and seek opportunities for growth.

His reputation for honesty and reliability caught the attention of traders, and soon he found himself assisting traders and commodity agents in purchasing goods as a middleman. This marked the beginning of his foray into commodity trading, where he excelled by buying and storing palm oil, pepper, beans, maize, groundnut, and more.

His success in commodity trading led him to join the Nigerian National Palm Produce Board (NNPD) as a produce buying and supplying agent, further solidifying his position in the business world.

Transport and Haulage Business:

In the early ’70s, Chief Ogbodo Ede ventured into the transport and haulage business with the establishment of “Nothing is New” transport company, in partnership with Chief D. E. Enenche and Mr. Eyimoga Idoko. The company quickly grew to possess an impressive fleet of trucks, tippers, trailers, buses, and cars.

Recognizing the need for regular replacements of tires and tubes in the transport sector, he invested in the procurement and marketing of Michelin tires and tubes, becoming a licensed distributor in the early ’80s.

Diversification and Real Estate:

Aside from his success in the transport and commodity trading sectors, Chief Ogbodo Ede also delved into estate development. He owned numerous properties in Otukpo town, demonstrating his keen eye for investment opportunities.

Legacy and Family:

Chief Ogbodo Ede was not only a successful businessman but also a family man. Despite having eight wives and 58 children, he maintained a humble and modest demeanor. He instilled in his children the values of hard work, dignity of labor, and thriftiness.

His humility was evident when, despite being offered the prestigious position of Agbo of Ochobo, he declined, showcasing his modesty and simplicity.

Final Years and Legacy:

Chief Ogbodo Ede’s life philosophy, “Nothing is New,” became the guiding principle of his transport company and encapsulated his views on life’s struggles, changes, and the inevitability of challenges.

He lived an honest and principled life, shunning politics and remaining focused on his businesses and family. Chief Ogbodo Ede’s legacy lives on in the memories of his thousands of clients, his vast number of children, and the entire business community.

He passed away, leaving behind a remarkable legacy of hard work, determination, and success, a true testament to the possibilities of rising from humble beginnings to achieve greatness.

Funny Fact:

In a humorous twist, Chief Ogbodo Ede initially resisted banking his money, preferring to store it in bags inside a large iron safebox constructed by a welder. It took the persuasion of his children to finally convince him to deposit his cash in the bank, a task that required multiple trips to move the bags of money from his bedroom.

Chief Ogbodo William Ede, “Nothing is New,” “The Okuludo of Idoma,” continues to rest in peace, leaving behind a legacy of resilience, hard work, and success that inspires generations to come.

Credit. Eric Amodu