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Holds 41st AGM In LAGOS
+The Launch Of Odu’a Invest. Foundation
On Thursday 21st July, 2023 at the Banquet Hall of Lagos Airport Hotel, Ikeja, Lagos the Management of Odu’a Investment Company Limited, held the official launch of Odu’a Investment Foundation. Before this event was the 41st Annual General Meeting which was held at the Osun Hall, of the hotel.
On 27th July, Odu’a Investment Company Limited, OICL, Launched Odu’a Investment Foundation, its subsidiary, with the Inauguration of the Advisory Council and the Unveiling of the foundation’s logo. The Foundation which is a non-profit making organisation was set up to promote social development and welfare of the people in the six South West States.
The event which was held at Airport Hotel Lagos had many Oduduwa dignitaries in attendance. It had the representatives of the six SW States as well as the leader of Afenifere, Pa Ayo Adebanjo. It started with the arrival of the guests and was followed by the national anthem. The opening prayer, introduction, and welcome address quickly followed OICL Group Chairman, Otunba Bimbo Bashiru, said that he was happy to see everyone at the occasion of the official launching of Odu’a Investment Foundation. “Odu’a Investment Foundation mandate is well captured and the mission statement is to deliver a sustainable return for all stakeholders and a handsome legacy for future generations.
“Our objective is to make a sustainable impact in our operations in health, youth empowerment, and education. Our vision is to create an enabling environment where every person has the opportunity to live a healthy, peaceful, and productive life,” the chairman said.
The Chairman called the attention of the guests to welcome Pa Adebanjo, and he handed him the mic to give his wise thoughts about the foundation. The elder statesman said that he is the only living person amongst the elders that started the organisation, and that he thanks everyone for attending and pleaded that this legacy should be kept alive for the people coming up to know what their route stands for. He urged the leaders to do everything possible to retain the light of Odu’a to the general public.
This was followed by the overview of Odu’a Investment Foundation, which was read by Mr. Sani Adio, a non-executive director of the organisation. A goodwill message from the Owner State and the unveiling of the foundation logo followed suit.
Soon after, the inauguration of the advisory council took place. This council is led by Ambassador, Dr. Olatokunbo Awolowo Dosumu, who is the daughter of the late Chief Obafemi Awolowo. Others are; Dr. Olusegun Olugboyegun, Chief Dr, Mrs Onikepo Akande, Dr. Biadun Shobanjo, Dr. Mrs Victoria Adunola Samson, Chieg Wole Olanipekun and Mr. Aderemi Makanjuola.
Dr. Awolowo Dosumu said in her speech that this event is all about legacy and things our fathers achieved and left for us. “I will start with a quote from Benjamin Disraeli, a 19th century Prime Minister of the United Kingdom and he says, ‘The legacy of heroes is the memory of a great name and the inheritance of a great example’.
“We gather here to celebrate the immeasurable value of a great legacy. We are also here to acknowledge with specific reference to Odu’a Investment Group, which started several decades ago with our founding fathers, led by Chief Obafemi Awolowo. These great visionaries are unequivocal about what they needed to do to create an economic base on the region which God has given them to administer.
“They were conceptualizing a region that would be wealthy enough to get his people off the ravages of diseases, ignorance, and poverty. They were very honest, diligent, and methodical in executing the plans they had carefully laid out, she said. She urged the new members to follow the footsteps of their founding fathers and even achieve more than they did.
The event concluded with a vote of thanks, closing prayer, and national anthem. OICL Board of Directors are; Otunba Bimbo Ashiru, Group Chairman; Mr. Adewale Raji, Group Managing Director/CEO; Dr. Segun Aina, Non-Executive Director; Chief Segun Ojo, Non-Executive Director; M Seni Adio, Non-Executive Director; Dr Tola Kasali, Non-Executive Director.
Others are Mr. Segun Olujobi, Non-Executive Director; Otunba Mrs. Debola Osibogun, Independent Director; Mrs. Folusho Olaniyan, Independent Director; Mr. Olugbolahan Mark-George, Executive Director; and Mr Abdulrahman Yinusa, Executive Director.
Odu’a Investment Company Limited (OICL) was incorporated in July, 1976 as the investment vehicle to manage and administer the business interests of the former Western State of Nigeria comprising of Oyo, Ondo, Ogun, Osun and Ekiti States. Lagos State was admitted into Odu’a Investment Company Limited on Wednesday, March 28, 2018.
The company commenced operations on 1st of October, 1976.
Authorized share capital of the company is N690,000,000 divided into 690,000,000 ordinary shares of N1 each; all the shares have been issued with all the 6 owner states having equal number of shares.
Investments within the group at its inception covered a wide range of businesses from real estate, equipment leasing, food and beverages, construction, agriculture, manufacturing, hospitality, financial services and oil and gas.
OICL investment policy is to SWEAT its assets, REVIVE by extracting their full potential and CREATE new entities through alliances and joint venture partnerships with top players in respective fields DICL is engaged in. Discussions on strategic partnership and alliances have been opened with technically proven and financially capable partners to reposition the company and it various subsidiary companies particularly the Hospitality, Agriculture and Real Estate businesses.
The company’s head office is located at floors 21-23 Cocoa House, Oba Adebimpe Road, Dugbe, Ibadan, Oyo State.
The operations of the company are governed by sets of rules embodied in its Memorandum and Articles of Association as well as the Companies and Allied Matters Act CAP, C20, LFN 2004 (as amended) and International Financial Reporting Standards (IFRS) issued by the Internal Accounting Standard Board (IASB).
Odu’a Investment Foundation is a non-profit making organisation set up to promote social development and welfare of the people in the 6 South West States of Nigeria. It was established to sustain the ideals of the founding fathers of Odu’a Investment Company limited. The Foundation was birthed by Oodua Investment Company Limited to serve as an independent social corporate arm and complement the efforts of its Owner State Governments in impacting lives meaningfully. The organisation was duly registered with the Corporate Affairs Commission in September 2021.
The Vision is to create an enabling environment where every person has the opportunity to live a healthy, peaceful, and productive life.
The Mission is to improve healthcare, expand educational opportunities, and promote youth development and information technology in South West Nigeria.
What are the Objectives? •To make a sustainable impact in our operations in Health, youth Empowerment, and Education •To promote, develop and empower the teeming Youth of South West Nigeria with a focus on education and health (physical, mental, and social) • To deliver significant long-term Education and Youth Development benefits in our stakeholder communities.
What are the core values of the Foundation? Respect: Absolute regard for human dignity irrespective of age, race, creed, or ethnic affiliation • Integrity: Consistency and accountability in what we say and do • Innovation: Drawing from the power of ingenuity to address issues • Collaboration: Partnering with all relevant stakeholders to attain our set mandate • Empathy: Implementation of organisation’s interventions with a human face What are the area of focus? Health. This includes •Capacity Building • Institutional Support • Reproductive Health • Adolescent Health Projects • Control Of Communicable and Non-Communicable Diseases • Institutional and Infrastructural Support • Literacy Education • Girl Child Education • Adult Literacy • Vocational and Technical Skills Training • Grants and Scholarships for Indigent Students The next area of focus is Youth Empowerment. This includes •Innovation Hubs and Incubation Centers • Strategic Job Creation In Arts, Sports and Culture • Promote Job Readiness and Workforce Preparedness • Grow Agripreneurs for Food Security on the issue of Coverage & Reacting.
Odu’a Investment Foundation has national coverage with a special focus on the six (6) South West States of Nigeria.
Odu’a Investment Foundation works in partnership with governments, donor agencies,implementing partners, private companies, multinationals, groups, and community-based organisation towards the attainment of its vision.
As for funding, Odu’a Investment Foundation depends primarily on funds from Odu’a Investment Company Limited (OICL) as well as grants and donations from local, national, and international organisation, governments, corporate entities, philanthropic individuals, and institutions.
How about Governance & Accountability? Odu’a Investment Foundation has a three-member registered Board of Trustees (BOT), an Advisory Council of seven (7) distinguished and reputable individuals providing advisory services to the operations of the Foundation and an Acting Executive Secretary.
The day-to-day activities of the Foundation are run by a competent and experienced Management team.
–Benprince Ezeh (08068599879)
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