Stakeholders including South West Governors and Leader of ‘Afenifere’, the Yoruba socio-cultural group, Pa Ayo Adebanjo on Thursday 27th July, 2023 applauded the Management of Odu’a Investment Company for sustaining Awolowo’s Legacy with the Establishment of Odu’a Investment Foundation.
Odu’a Investment Foundation(OIF) was incorporated at the Corporate Affairs Commission(CAC) in 2021 to serve as an independent social corporate arm of the Company to give back to society and improve the life and livelihood of the citizenry of the Owners’ States and launched on Thursday 27th July 2023 in Lagos.
Apart from the official launching of the foundation, the company also inaugurated members of the Advisory Council, which includes Amb. Dr Tokunbo Dosumu Awolowo, (Chairman) Chief Wole Olanipekun (SAN), Dr Victoria Adunola Samson, Dr Segun Olugboyegun, Chief Mrs Onikepo Akande, Mr Aderemi Makanjuola, and Dr Biodun Shobanjo
Representatives of the Governors of Lagos, Oyo, Ogun, Osun, Ondo, and Ekiti states, in their separate remarks, commended the Odua Investment company for the initiative.
Inaugurating the Advisory council at a well-attended event at the Banquet hall of Lagos Airport Hotel, Odu’a Group Chairman, Otunba Bimbo Ashiru said the members are expected to use their influence and network to actualise the priority focus areas of youth empowerment, Education and Health.
“Odu’a Investment Company Limited has committed 1% of its Profit After Tax in addition to external funding sources to finance the Foundation programs.
According to Otunba Ashiru, our hope is that this will provide the Foundation with the seed money required to attract additional external funding and resources needed to achieve the necessary impact and reach.
“To achieve its objectives, the Foundation will rely heavily on collaborations and partnerships with individuals, businesses, and public and private institutions, including non-governmental organizations, development agencies, multilateral bodies, etc.”
We believe that with your support, the Foundation can tap into the vast collective economic and social capital available to the Southwest Region, and direct the resources pooled together into projects and initiatives that will improve the welfare of our people, he said.
Leader of ‘Afenifere’, the Yoruba socio-cultural group, Pa Ayo Adebanjo, who commended the management of the Odu’a group for sustaining Awolowo’s legacy said ‘ I can’t miss anything related to Oduduwa So, I want to thank all you directors of Odu’a Investment Company Limited (OICL) because you are inheritors of a good heritage, God bless you for establishing the Odu’a Investment Foundation (OIF).
Chairperson, OIF, Ọlatokunbọ Awolọwọ Dosumu, said: “Beyond the role of the conglomerate in the business of adding value to the economy, as well as its statutory obligation of enhancing the revenue of its various shareholder governments, Odua Investment have now decided to deploy a further percentage of its income to an initiative that offers a wider latitude to impact lives through creative, inventive and effective philanthropy that cannot be accomplished by other means.
“By setting up this Foundation, therefore, this Board has intentionally introduced an additional avenue through which the company can further impact the lives of the people positively. In other words, rather than neglect or erase the legacy of our founding fathers, they have elected to maintain and, even, propagate it. I commend them once again for taking this bold step.
“I note with great joy that several decades after the investment group was set up, and more than three decades after the transition of the prime legator, Chief Awolowo, the legacy has remained in very safe hands.
The journey may not always have been particularly smooth. Still, it is important to note that in spite of all odds, and as a testament to the solid foundation upon which it was built, coupled with the commitment of its board, management and staff over the years, the house of Odu’a Group is still standing tall, sturdy and safe.
Also, Chief Wole Olanipekun, in his remark, said he is ready to work with other members of the council to project the ideals and vision of the Odu’a investment foundation.
Lagos State Governor, Babajide Sanwo-Olu who the SSG represented, Bimbo Hundeyin, said: The name “Odu’a” is deeply rooted in our culture and history, reminding us of our noble heritage and the virtues of resilience, innovation and love for fellow mankind. As we launch this foundation, which will serve as the corporate social responsibility arm of the company, we
invoke the spirit of Odu’a to guide us on this transformative and empathetic path.
It is a well-known fact that the primary goal of any business-oriented organization is profit-making. However, in the pursuit of this legitimate goal, it is expected that organizations must commit part of their resources to cater/to the welfare needs of the community and the people that patronize their business. I am therefore excited that our company, by this initiative, is showing commitment to its corporate social responsibility, focusing on education, health, and youth empowerment.
“Indeed, these areas of focus for the Foundation are critical and fundamental to improving the human capital development profile of our region for sustainable growth and development In Lagos State, the activity of this Foundation will complement our efforts, especially in the successful implementation of our T.H.E.M.E.S+ developmental agenda.