Home Business The Undying Legacy of ODUA ….. By Eric Teniola

The Undying Legacy of ODUA ….. By Eric Teniola

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The South West governors have reconstituted the board of directors of Odua Company Limited. The new board is headed by Dr, Lawrence Olusegun Aina (65), past President of West Africa Bankers Association and former President of Otan-Ayegbaju Development Association in Osun state. Other members of the new board are Chief Segun Ojo, a former Commissioner for Finance, Budget and Economic Planning in Ondo State, Dr. Tola Kasali who served as Commissioner for Rural Development in Lagos State between 2003 and 2007, Barrister Seni Adio, SAN, the Managing Partner of Copley Partners (Solicitors & Barristers, Mr. Olusegun Olujobi who is ex-Accenture and Energy Industry player and Otunba Bimbo Ashiru, a renowned banker and immediate past Commissioner for Commerce and Industry in Ogun state. The Group Managing Director of the Company is Mr. Adewale Abiodun Raji, a former Managing Director of PZ Cussons Nigeria Plc., who was recently reappointed for another term. The inauguration of the new board is a welcome development, for Odua Investment Company is one of the three regional groupings in the country. The other two bodies are the Interim Common Services Agency for Northern Region and Eastern States Interim Assets and Liabilities Agency (ESIALA), which we don’t hear of, these days. Profitability was achieved by Odua Company between 2014 and 2018, an unprecedented dividend of N1.2billion was paid. The fulcrum of credible strategic partnership is gradually taking shape with the recent strides in the Imeko Tomato to Paste Project and the Westlink Iconic Estate JV at Alakia, Ibadan. These and many more like the Power Generation Project at Ikeja, The Farming Company Limited JV at Oke-Ako Ekiti, the Vitalo Brand Project are initiatives that are unfolding to grow the revenue base of the Company. Pix: Cocoa House – 25 floors building; first of its type in Africa ANTECEDENTS: The Odua Investment Company is an offshoot of an Economic body of the Action Group, which came to power in 1952 in Western Region. The Action group (Egbe Afenifere) led by Chief Obafemi Awolowo was formed on March 21, 1951 at the Oke-Bola residence of Chief Awolowo in Ibadan. The house still stands today. I remember with nostalgia when I was a reporter in the Nigerian Tribune in 1972, I used to collect stories on phone in that house on the Oniru land case dispatched by the Nigerian Tribune correspondent in Lagos, Mr Bayo Osiyemi. It was that time I…

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