Odua Investment Company

04/05/2024

PIX OF THE 42ND ANNUAL GENERAL MEETING OF ODU’A INVESTMENT COMPANY LIMITED HELD AT THE LAGOS AIRPORT HOTEL, IKEJA, LAGOS ON THURSDAY, MAY 2, 2024

04/05/2024

https://www.thisdaylive.com/index.php/2024/05/03/odua-investment-promises-improved-return-for-shareholders-declares-n428m-dividend?amp=1

The board and mangement of Odu’a Investment Company Limited, have said they will continue to work hard to ensure mouth-watering returns for shareholders.

04/05/2024

Odu’a Investment Defies Economic Odds Declares N1.961bn PBT

Odu'a Investment Company Limited has announced a Profit Before Tax (PBT) of N1.961 billion for the financial year 2023, despite economic challenges. The company's 42nd Annual General Meeting, held at the Lagos Airport Hotel, Ikeja, Lagos, saw a 7% growth in operating revenue, reaching N3.95 billion....

02/05/2024

PRESS STATEMENT ON THE 42ND ANNUAL GENERAL MEETING HELD 2ND MAY, 2024 AT LAGOS AIRPORT HOTEL, IKEJA, LAGOS

❖ Odu’a Investment declares N1.961 billion as Profit Before Tax
❖ Dividend of N428 million payable for Financial Year 2023
❖ Assures smooth transition for new Group Managing Director/CEO
❖ On continued course of Growth and Profitability

The Annual General Meeting (AGM) of Odu’a Investment Company Limited took place at Oranmiyan Hall, Lagos Airport Hotel Limited (LAHL) on 2nd May, 2024. All of the resolutions presented for Shareholders' approval were adopted.

The General Meeting approved, among other resolutions, the company's financial statements for the financial year 2023 as well as the payment of a cash dividend of N428 million to its Shareholders.

The Group Chairman of Odu’a Investment, Otunba Bimbo Ashiru while announcing the modest 7% growth in operating revenue from N3.68 billion in 2022 to N3.95 billion in 2023 reiterated that despite the economic headwinds of 2023, it was another year of good performance by the company as it posted a Profit Before Tax of N1.96 billion.

Otunba Ashiru expressed satisfaction that with improved collaboration and synergy within the Group and leveraging shared services, cross selling, joint marketing and astute business innovation, Odu’a Investment is translating the timeless vision of the founding fathers of the company into reality by the implementation of the Group’s 5-Year Strategic Plan which aims to sweat, create and revive businesses and assets to deliver continuous growth and value to shareholders and stakeholders.

According to him, notable events in the year under review included the commissioning of the Phase 1 of Westlink Iconic Villa, Alakia, Ibadan comprising 67 residential units of 3-bedroom apartments, 4-bedroom and 5-bedroom duplexes; the launching of the Odua Investment Foundation and its flagship Educational Intervention Project tagged ’’Digital Education for Innovation & Economic Development (DEFINED)’’. Odu’a Investment also secured its first ever Credit Rating in 2023 with Agusto & Co awarding it ‘’A’’ Rating with a Stable Outlook attributed to its deft management and ’’ … good operating cashflows supported by its diversified income streams and portfolio of subsidiaries and associates’’.

The Group Managing Director/CEO, Mr Adewale Raji, who officially will be retiring on 31st May, 2024 in his report, appreciated all the esteemed shareholders for the opportunity given to him to serve the company for two successive terms lasting 10 years during which the Group with their support enthroned a new corporate governance framework that depoliticized its operations, appointments and management.

Mr. Raji said the Group in this past ten years witnessed repositioning that was driven by her SRC - 2025 Strategy (i.e. Sweat, Revive & Create) to be a lean non-operating investment holding company focused on 8 sectors of Real Estate, Hospitality, Financial Services, Agriculture, Energy/Power, ICT/Digital, Healthcare/Pharmaceuticals and Logistics/e-Commerce. It is such focus on ‘’Sweating’’ that necessitated the consolidation of the entire Group real estate portfolio under our Wemabod Limited subsidiary leading to the massive redevelopment either through own resources or joint venture partnerships of our real estate portfolio to optimize yield and return.

‘’Revive’’ is manifesting in our renovation and redevelopment of Premier Hotel at Ibadan with significant progress made in both the existing building and new developments on the site with phased re-opening starting in H1 of 2025. ‘’Create’’ reflects in the significant step up in our BITA Exploration and Production Ltd marginal field (PPL 249) funding thrust to implement the Field Development Plan with our partner, Pioneer Global Energy Resources. The company expects that once these funding and regulatory requirements are met; it will be able to achieve ‘’First Oil’’ within Q1 of 2025. All these translated to remarkable success in its financial performance, corporate governance, risk management, and asset optimization across its chosen sectors.

He noted that in real terms, OICL Profit Before Tax for 2023 actually increased by 62% to N1.772 billion from N1.092 billion in 2022 if we strip off Revaluation Gains arising from our Investment Properties portfolio in both years. He also recounted that the financial year 2023 will be the 10th consecutive year that the company will be paying dividends to Shareholders with the cumulative amount paid in this past decade amounting to N3.11 billion.

In his review of the operating environment, Mr. Raji expressed optimism that President Bola Ahmed Tinubu administration’s pursuit of a market-driven approach to resolving underlying problems of the economy will attract long-term investments into the country to fund infrastructure and social services that includes roads, rail, power, healthcare, education, etc that will translate into sustainable economic and human capital development.

In closing, Mr. Adewale Raji expressed confidence that under the leadership of Mr. Abdulrahman Yinusa, the incoming GMD/CEO of OICL, the company will deliver on the ongoing redevelopment of the hotels in the Group, new pipeline of premium residential and commercial redevelopment projects, securing viable joint venture partnerships for the agriculture portfolio, achieve ‘’First Oil‘’ in the implementation of the field development plan of BITA marginal field, and facilitate the company’s mainstream participation in the turnaround of the power/electricity sector.

Victor Ayetoro
[email protected]
www.oduainvestment.com.ng
MEDIA RELATIONS
2ND May, 2024

01/05/2024

On this Workers' Day, I encourage all staff at OICL to reflect on their contributions and dedication to our organization. Your hard work and commitment are valued and appreciated. Let's continue to strive for excellence and support each other as we work towards our common goals.

28/04/2024

PRESS STATEMENT ON THE 42ND ANNUAL GENERAL MEETING OF ODU’A INVESTMENT COMPANY LIMITED

The 42nd Annual General Meeting (AGM) of Odu’a Investment Company Limited (OICL) comes up on Thursday, May 2nd, 2024 at the Oranmiyan Hall, Lagos Airport Hotel Limited, Ikeja, Lagos.

OICL at the meeting will be presenting the company’s Annual Report and Financial Statements for the Financial Year ended 31st December, 2023 as well as providing update on progress made in positioning the company for growth across its target areas of investment and actions taken at defining the trajectory for the company and its subsidiaries and associate companies for the next decade.

The six Southwest Shareholders States will be represented at the meeting by the Secretary to the State Governments (SSGs) of Oyo, Ondo, Ogun, Osun, Ekiti and Lagos States while the Chairman of the AGM is the Group Chairman, Odu’a Investment Company Limited, Otunba ‘Bimbo Ashiru.

Signed:
MANAGEMENT ​​​
27th April, 2024

08/03/2024

HAPPY INTERNATIONAL WOMEN’S DAY TO ALL OUR STRONG, BRILLIANT AND REMARKABLE WOMEN AT ODU’A INVESTMENT COMPANY LIMITED AND IN ALL ITS SUBSIDIARY COMPANIES. TODAY WE CELEBRATE YOUR ACHIEVEMENTS AND RESILIENCE FROM ALL WALKS OF LIFE. YOUR STRENGTH SHAPES THE FUTURE. KEEP SHINING, KEEP INSPIRING…

09/02/2024

ODU'A INVESTMENT COMPANY LIMITED HOLDS ITS 2024 ANNUAL MEETING OF NON- EXECUTIVE DIRECTORS IN THE GROUP

In a bid to ensure proper engagement and update on development within the Odu'a Investment Group, the Annual meeting of all directors in the Group was held on Friday, February 9, 2024 at the Banquet Hall of the Lagos Airport Hotel, Ikeja, Lagos, Lagos State.

The meeting featured directors' training, group presentations of the Holding Company's performance for 2023 and its operating subsidiaries results.

The Board training was facilitated by DCSL Corporate Services Limited led by Mrs Bisi Adeyemi, a Corporate Governance expert and lead facilitator on several directors’ development programmes with speaking experience cutting across clientele in Banking, Manufacturing, Insurance and Oil and Gas services.

In attendance were the OICL Board of Directors, Directors and Managing Directors of Subsidiary Companies and Directors of Associate Companies of the Odu'a Group.
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29/01/2024

OICL HOLDS 2024 ANNUAL MANAGEMENT RETREAT.

Odu’a Investment Company Limited held its 2024 Management retreat from Thursday, January 25 to Saturday, January 27, 2024 at Ogere Resort, Lagos-Ibadan Expressway, Ogun State. The 3 day Annual Management retreat was a huge success.

Erudite Scholar and former Chief Economic Adviser to the President, Dr Doyin Salami, (2nd left, front row) took participants which included the Company’s GMD/CEO, Mr Adewale Raji, Group Chief Financial Officer, Mr Abdulrahman Yinusa, Group Chief, Investment & Business Development Officer, Mr Yemi Ajao, Wemabod Limited, Executive Director, Business Development, Mr Bashir Oladunni and other OICL management team present through the Nigerian Macro- Economic Outlook 2024 and identified key areas OICL should focus for new opportunities for growth and profitability.

24/01/2024

MR YEMI AJAO JOINS ODU'A GROUP AS GCIBDO

We wish to announce a significant addition into our executive management team in person of Mr. Yemi Ajao, who has been appointed as our new Group Chief Investment and Business Development Officer (GCIBDO).

The Group Chief Investment and Business Development Officer is joining the group with his extensive background in oil and gas operations – engineering, strategy, and corporate finance functions, boasting a track record of successful investments and exits in early-stage technology ventures and commercial real estates.

He brings a wealth of expertise in investment strategies, business development, corporate finance, portfolio management, among other areas. This will undoubtedly contribute to the continued growth and success of Odu’a Investment Company Limited.

In his new role, Mr. Yemi Ajao will be responsible for overseeing our investment initiatives and spearheading our business development strategies. His leadership, strategic vision, and commitment to excellence align seamlessly with our corporate values.

HIS PROFILE
Mr. Ajao is an experienced Investment Executive with over 20 years of work experience spanning Oil & Gas, Financial Services, Technology and Commercial Real Estate.

Previously, he worked as the Business Development and New Ventures Director at CAMAC International, a Texas based Family Office with a focus on Africa. Prior to that, he led the commercial workstream for Afren/FHN’s acquisition of OML 26 from Shell/NNPC JV and the first locally arranged Reserved Based Lending (RBL) in Nigeria, for the acquisition and re-development of OML 26.

Earlier in his career, Mr. Ajao worked as a Drilling Engineer and in the early days of shale, planned and designed wells for E&P clients in the Barnette Shale, Texas. Altogether, Mr. Ajao spent over a decade in the oil industry, in Engineering, Corporate Finance and Commercial Strategy roles. Since 2013, he has also been an avid supporter of the early-stage technology ecosystem in Nigeria and an adviser to quite a number of early-stage ventures in Nigeria and Kenya.

Yemi holds a Bachelor of Science degree in Chemical Engineering from Obafemi Awolowo University, Ile-Ife, a Master's degree in Petroleum Engineering from the University of Houston and a Master's in Business Administration (MBA) from Jones Graduate School of Business, at Rice University, Houston TX.


Mr. Yemi Ajao will play a crucial role in driving innovation, fostering collaboration, and ensuring the continued success of our Company. We are confident that he will make a significant impact, and we look forward to the fresh perspectives he will bring to our team.

20/01/2024

*OICL TO LIST ON NSE CAPITAL MARKET.*
Odu'a Investment Company Limited on Friday, January 19, 2024 began discussions with the Nigerian Exchage Limited(NGX) to be listed and raise capital from investors.

Group Chairman of the company, Otunba Bimbo Ashiru said this at the closing gong ceremony by the firm at the NGX in Lagos.

Otunba Ashiru said the move would not only strengthen the company’s financial position but also provide opportunities for investors to participate in its growth.

The Group Chairman also said that many dealing investors would be willing to partner with the company without hesitation, due to its diversified investment portfolio.

He mentioned that the company would soon sign a Memorandum of Understanding (MoU) with the NGX, to seal the partnership.

“We are at the Exchange to let the market stakeholders know that we are willing to be part of them and be a partner in progress.

“I want both parties to be part of a success story by working together as a team, and I believe we can be an achiever,” he said.

Commenting, Mr Jude Chiemeka, Acting Chief Executive Officer(CEO), NGX, expressed delight to have Odu’a Investment on the floor of the Exchange.

Mr Chiemeka commended the company for the initiative to list on the NGX while expressing optimism that the capital market would further improve.

He said that the NGX is a major contributor to the revenue drive of the Nigerian economy.

According to him, the top five listed companies on the NGX, in 2023, paid N262 billion as tax to the Federal Government and paid N926 billion as dividends to investors.

“The narrative shows that listed companies are more transparent and tax compliant.

“It is our hope that the government would continue to push policies in a bid to encourage companies to list and raise revenue.

11/01/2024

ODU’A INVESTMENT COMPANY LIMITED’S GROUP MANAGING DIRECTOR/CHIEF EXECUTIVE TO RETIRE, SUCCESSOR NAMED

ODU’A INVESTMENT COMPANY LIMITED announces the retirement of the Group Managing Director/Chief Executive Officer, Mr. Adewale Raji, and the appointment of Mr. Abdulrahman Yinusa as the Group Managing Director / Chief Executive Officer effective 1st of June, 2024.

Mr. Adewale Raji’s retirement follows ten (10) years of dedicated service as Group Managing Director of the forty-seven (47) year old conglomerate. As Group Managing Director, he oversaw the Group’s return to a growth and profitability trajectory through strategic restructuring of the operating structure of the group to improve efficiency. During his two (2) tenures, the company grew Profit Before Tax (PBT) from N378 million (2013) to a high of N2.2 billion (2021), paid a total of N2.56 billion in dividends so far. The Company diversified into Agribusiness, Oil and Gas and other sectors through strategic partnerships, and repositioned the group’s key subsidiaries and assets. He also helped improve the group’s corporate governance framework, and culture of accountability and transparency amongst management and staff. Prior to his appointment at Odu'a Investment, Mr. Raji was the Managing Director, Distribution Services at PZ Cussons Nigeria Plc where he served for 8 years on the Board.

Mr. Abdulrahman Yinusa currently serves as Executive Director, and the Group Chief Financial Officer of Odu’a Investment. He is a thoroughbred finance professional with over three (3) decades in-depth experience in the Financial Services Industry. He will be responsible for implementing the Group Board’s shared vision and plan, as well as ensure continued ex*****on of existing strategic projects. Prior to joining Odu’a Investment, he retired from Diamond Bank (now part of Access Bank) as an Executive Director and Chief Financial Officer. In the course of his over thirty (30) year career, he demonstrated unique leadership skills, versatility and excellence, and developed expertise in several areas including asset management, local and international capital raising, mergers and acquisitions, strategy, treasury and business transformation. Mr. Yinusa graduated with a B.Sc. Accounting from the Ahmadu Bello University, and holds both M.Sc. Economics and MBA (Finance) degrees from the University of Lagos. He is also an alumnus of the University of Cambridge, IMD, Switzerland and INSEAD, France where he attended top management programmes.

Odu’a Investment has also appointed Mr. Yemi Ajao as Executive Director, and Group Chief Investment and Business Development Officer, a role he will assume on the 15th of January 2024. Mr. Yemi Ajao has over twenty (20) years’ extensive experience in oil and gas operations (engineering), strategy, corporate finance, real estate, venture capital and private equity. He graduated with a B.Sc. Chemical Engineering from the Obafemi Awolowo University, and holds an M.Sc. Petroleum Engineering from the University of Houston, and an MBA from the Jones Graduate School of Business, Rice University, Houston, USA.

Commenting on these leadership changes, the Group Chairman of the Board, Odu’a Investment Company Limited, Otunba Bimbo Ashiru, stated; "Today we announce the retirement of a Group Managing Director who superintended over a pivotal period in Odu’a Investment’s evolution into a world class conglomerate. On behalf of the Board, I will like to express our sincere gratitude to Mr. Adewale Raji for his exceptional leadership, and for steering the ship with such vision, courage and professionalism during his tenure. We are also delighted about the smooth leadership transition, and I will like to congratulate the Shareholders and the Board on Mr. Abdulrahman Yinusa’s appointment. I have no doubt in my mind that he will take Odu’a Investment to another level of growth, especially with the foundations laid over the past few years”.

Commenting further, the outgoing GMD, Mr. Adewale Raji said: It has been a great honour to have been entrusted by the Group’s Shareholders and the Board to superintend over the affairs of the business from June 2014. The period witnessed remarkable changes in the financial performance and corporate governance standing of the Group. I am delighted that the modest successes recorded in portfolio rebalancing and asset optimization in our notable chosen sectors of Real Estate, Hospitality, Financial Services, Agriculture, Energy, etc are going to receive accelerated transformation under my worthy successor (Mr Yinusa) and the excellent crop of talent that the Group has attracted under the support of the Board in these past few years’’


11th January 2024


Media Relations

Victor Ayetoro

08/11/2023

Gov Abiodun passes vote of confidence on Odu'a Board

The Governor of Ogun State, Prince Dapo Abiodun, has passed a vote of confidence on the board and management of Odu'a Investment Company Limited on its record of accomplishment in recent years.

The governor who stated this, when he received the board and management of the Odu'a Group led by the Group Chairman, Otunba Bimbo Ashiru in his office, expressed delight on the practical effort and uncommon commitment invested by the company in re-engineering economic growth in the south-west states.

He commended the new board for their unmatched sense of creativity, direction and sincerity of purpose at repositioning the conglomerate to reflect the true vision and worth of the people of the southwest states.

"I want to commend your sense of creativity, direction, sincerity of purpose and commitment to your mandates and we are very happy with the results we have seen.

“You have been saddled with the responsibility to be a developmental vehicle to attain an accelerated regional economic growth in the south-west states by the six states’ governors and your organisation has been walking the talk," the governor said.

He noted that all the owner-states’ governors adopted a non-interference approach in the running of the conglomerate, and this has paid off as the board made up of professionals and people of impeccable character with private sector experience, coupled with qualified management staff has been running the affairs of the company and doing exceedingly well.

"We as south-west governors have decided that no longer would we want an Odu'a where members that represent the various states are just politicians, that we would ensure we have directors that are technocrats, fit for purpose and also ensure that the management itself are professionally recruited so as to complement the board.

These decisions are sacrosanct and paid off as Odu'a is now a complete departure from what it used to be in the past."

Earlier in his remarks, Otunba Ashiru commended the Governors of member states of Odu’a Investment Company Limited for appointing competent and capable hands into the various board of the conglomerate saying that the issue of diversification is a key factor to the growth and sustainability of an organisation.

The Group Chairman disclosed that the company has been given a licence for the Marginal Oil Field and the company is on the verge of becoming an oil producing organisation.

"Hopefully, we should be able to move into field by the first or second quarter of next year and by this, Odu'a will be one of the oils producing organisation in Nigeria" He said.

On Hospitality business, Otunba Ashiru noted that the company currently has a joint venture (JV) partner and work ongoing in remodeling, renovating, and upgrading the Premier Hotel structure from an 87-room hotel to a 150-room state-of-the-art five-star hotel.

The Group Chairman who said that the company is looking at having an industrial park along the interchange added that a Chinese Company is on the verge of investing in the power sector of the Southwest with an interest in 1000 megawatts per state.

The Group Managing Director/ CEO, Mr Adewale Raji while appreciating the south-west states’ governors for their all-round support in the smooth running of the organisation, noting that the future of the company is bright.

He said that the company over the last few years has attracted lots of talent and become a brand and a business entity that everyone admires.
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02/11/2023

AGUSTO & CO ASSIGN AN “A” RATING TO ODU’A INVESTMENT COMPANY LIMITED

WITH A STABLE OUTLOOK

Agusto & Co has assigned an “A” rating to Odu’a Investment Company Limited (OICL). The rating was based on an assessment of the financial condition of OICL as a standalone entity.

The rating report considered OICL’s diversified portfolio of investments across key sectors of the Nigerian economy, the diverse backgrounds and vast experience of the board, and management team, as well as the efforts that have been made to reposition the business in recent years.

In the last three (3) years, OICL implemented several strategic initiatives cutting across governance structure, asset optimization, and growth in investments and profitability, all of which have positioned the company for accelerated growth. In those years, it successfully implemented the modification of the business models of some of its businesses in line with market trends.

OICL transferred the management of its investment properties to Wemabod Limited to transform it into a full-service property management, property development and facility management subsidiary, and also finalised an agreement with a joint venture (JV) partner, to remodel and upgrade the Premier Hotel in Ibadan into a five-star hotel.

According to Agusto & Co, “the assigned rating reflects the company’s good operating cash flows supported by its diversified income streams and portfolio of subsidiaries and associates, adequate working capital upheld by its lean operating structure and low leverage on account of its strong equity funding buffer”.

Commenting on the rating the Group Chairman, Otunba Bimbo Ashiru said “we are walking the talk to be a world class conglomerate for the benefits of our owner states, and other stakeholders”.

The Group Managing Director, Mr. Adewale Raji remarked that “this is the result of the consistent hard work of the past few years of the Board, Management and Staff. We are really excited …”

The rating will further aid the implementation of OICL’s growth strategy which will be funded through equity, debt and joint venture partnerships. At the core of its strategy are plans to leverage its substantial property portfolio to develop new residential, commercial and hotel assets notable amongst which is the Lagos Airport Hotel in Ikeja, Lagos. It also plans to create new businesses across high growth sectors of the Nigerian economy including Oil and Gas, Power, ICT/ Digital, Agriculture, Transportation and Logistics, and Healthcare.

2nd November 2023

Media Relations

Victor Ayetoro

27/10/2023

*OICL HOLDS 2023 ANNUAL BOARD STRATEGY SESSION*

The Odu'a Investment Company Limited 2023 Annual Board Strategy retreat was held from Wednesday, October 25 to Thursday, October 26, 2023, at the International Institutes of Tropical Agriculture, IITA, Ibadan, Oyo State.

The two- day strategy retreat was organised to redefine the company's strategic aspiration and evaluate OICL overall business environment.

The retreat among others, also reviewed OICL performance and identified new opportunity areas for the Company’s businesses.

The Strategy session which was facilitated by B. A Adedipe Consult. provided platform to achieve a common understanding and aspiration of the progress of OICL in the ex*****on and achievement of its shareholders' aspirations and revalidate the strategic direction for OICL.

Chairman of OICL, Otunba Ashiru in his closing address appreciated all participants for their promptness and commitment in attending the two-day retreat, emphasising significant progress made along key areas of focus for the board which included governance, people culture and Growth.

Participants at the retreat included the Board and Management of OICL, Subsidiaries Board Chairmen and Managing Directors.

27/10/2023

Three Months After Inauguration, Odu’a
Foundation Launches Digital Education For S/West
Students

Barely three months of its inauguration, the Odu’a
Investment Foundation under the Chairmanship of
Ambassador Dr. Olatokunbo Awolowo Dosumu has
launched Digital Education for Innovation and
Economic Development (DEFINED) for both primary
and secondary schools across the South-west states.

In her welcome address at the official launching of the
innovation, held at the Ikeja Airport Hotel on Tuesday,
October 24, 2023, Dr. Olatokunbo Awolowo Dosumu
maintained that members of the foundation have taken
a significant step in achieving the mandate of the
Foundation with the formal launch of Digital Education
for Innovation and Economic Development (DEFINED)

She maintained that DEFINED project is the
introduction of Byte Busters coding clubs in all our
primary and secondary schools across the South west,
stressing that this is another significant digital step
towards having a smart, globally competitive youth
population.

In his remarks, the Group Chairman of Odu’a
Investment Company Limited, Otunba Bimbo Ashiru
said “Odu’a Investment Company Limited (OICL), and
its predecessor the Western Nigeria Development
Corporation (WNDC) were established with the
objective of promoting economic growth and
development. The investments of our founding fathers
made helped transform the lives and livelihoods of the
people in our various communities.”

Otunba Ashiru further said that Odu’a Investment
Foundation was therefore established to achieve
significant socio-economic impact with a focus on
weaving sustainable growth into the fabric of our
communities and region in general. As a result, we
identified very credible individuals with a track record
of impact in their various spheres of influence, and
fully empowered them to steer the affairs of the
foundation in the right direction.”

The highlight of the programme was when students
presented their work in programming and showcased
their skills.

Representatives of the six southwest states Governors
pledged their support and promised to put the region
first and make it an enviable region.

23/10/2023

YOU ARE INVITED.

Topic: GRAND LAUNCH OF THE DEFINED INITIATIVE
Time: Oct 24, 2023 10:00 AM West Central Africa

Join Zoom Meeting
https://us06web.zoom.us/j/3819024425?pwd=V3bT1432FJcNiJ7yOGnRMbpGcvSn44.1

Meeting ID: 381 902 4425
Passcode: 24102023

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21/10/2023

13/10/2023

ODU’A ORGANISES CULTURE TRANSFORMATION AWARENESS RETREAT

In furtherance of its commitment to promote and drive sustainable Culture Change, Oduá Investment Company Limited organized a Change Management retreat titled “Oduá Culture Transformation Awareness’ for all cadre of staff from top Management down to the junior staff.

The objectives of the retreat which was facilitated by Excel Professional Services was to re-energize the corporate culture and institutionalize best work practices that align with OICL core values and to assess the extant corporate culture, ascertain the extent to which “we live our values” and determine the changes that we need to make in institutionalising a groupwide corporate culture.

The Odu’a Group Managing Director/CEO, Mr Adewale Raji at the retreat charged staff on the need to inculcate corporate culture and institutionalise best practices in the discharge of their duties towards the attainment of SRC 2025 objectives.

The retreat which commenced from Tuesday, October 10, 2023 with top Management staff from the Group and Subsidiary Companies continued on Thursday, October 12 with managerial cadre and Friday, October 13, 2023 with Junior staff. It focussed on the imperatives of change management and what OICL must do to survive in its markets.

Syndicate Group discussions were held to address where emphasis should be in creating change awareness in the different OICL strategic businesses. The elements of corporate culture and impact of corporate culture on business performance were also learned.

The Company’s Group Chief Financial Officer, Mr. Abdulrahman Yinusa at the retreat spoke on the role of the Manager in embracing corporate culture, with emphasis on efficient leadership, leading by example, employee engagement for unified purposes and modelling staff behaviour.