Candido Da Rocha, one of Nigeria’s earliest millionaires, lived a life of immense wealth and influence. Born in 1860 in Brazil, he was the son of Joao Esan Da Rocha, a former Yoruba slave from Ilesha, who was captured and sold into slavery at just 10 years old. After gaining his freedom, Joao Esan returned to Nigeria in 1871, like many freed Brazilian slaves tracing their roots back to Yorubaland.
Building a Legacy
Upon his return, Joao Esan established a thriving business empire, acquiring properties in Lagos, including the famous Water House, laying the foundation for his son Candido’s financial success.
Candido initially spoke only Portuguese and Yoruba (Ilesha dialect) when he returned to Nigeria. He attended CMS Grammar School, where he studied alongside notable figures like Herbert Macaulay, regarded as the father of Nigerian nationalism.
Rise to Wealth
When his father passed away on December 31, 1891, Candido inherited and expanded the family estate. By 1893, he had turned his inheritance into a business empire, supplying clean water to Lagos in the 1920s. His residence was the first in Lagos to have a borehole and water fountain, leading to colonial administrators paying him for water supply.
His major financial breakthrough came in 1894 when he bought gold bars for £6,000 from a British prospector. To finance this, he took a loan from First Bank (then the Bank of West Africa), refined the gold into dust, and sold it to goldsmiths, earning a 200% profit.
In 1907, he co-founded Lagos Native Bank with J.H. Doherty and Sedu Williams, competing with foreign banks until it was defrauded. He later launched Lagos Finance Company, offering loans to individuals.
A Man of Influence & Integrity
Candido’s granddaughter, Angelica Oyediran, described him as highly respected, disciplined, and close to the British and Western world. Despite his wealth, he refused to engage in politics.
During World War II, he demonstrated his generosity by offering his Bonanza Hotel to the British government to house Nigerian students from King’s College for safety.
Personal Life & Legacy
Though he never officially married, Candido had relationships with three women who bore him children: a son, Alexander, and four daughters. A falling out with Alexander in 1920 led to his son relocating to Ghana, which explains the presence of the Da Rocha family in Ghana today.
Candido Da Rocha passed away in 1959 and was buried at Ikoyi Cemetery. His impact as a business magnate and philanthropist remains a remarkable part of Lagos’s history.
Credit: Ibiba Kabongo
