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 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.

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.

ODU’A INVESTMENT COMPANY LIMITED “Odu’a Investment” 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 execution 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 08035645584 victor.ayetoro@oduainvestment.com.ng

Odu’a Investment Company Limited end of year 2023 party took place at Best Western Hotel, Iyaganku GRA, Ibadan on Thursday, December 21, 2023. It was a time to unwind, celebrate achievements, embrace the joy of the holiday season, cherish memories and look forward to new beginning in the year 2024. Entire staff and Management were in a relax mood savouring different delicacies served with chilled drinks and good music going on at the background. The Group Managing Director, Mr. Adewale Raji and the Group Chief Financial Officer, Mr. Abdulrahman Yinusa who were full of joy and excitement appreciated members of staff for the company’s performance in the year 2023 and encouraged all not to rest on their oars but continue to give their best to the Company. In his word, the GMD/CEO said “As we gather here tonight, let us reflect on the incredible journey we have shared over the last one year. Your dedication and efforts have been instrumental in our collective success” GCFO charged members of staff to harness the energy of this achievements and set out on an even greater accomplishments noting that ” staff dedication and hard work have been the foundation of the Company’s success, but there is always room to do more” 9 categories of awards were given out to members of staff at the event. Below are details of the awards. Outstanding Contributor Award (Profitability Category) This award recognizes Mr. Olusola Ojeniyi for demonstrating an unparalleled commitment to excellence by reversing a major shortfall in dividend and revenue decline through impressive equities investment choices. Recognition also goes to the individuals who were also part of the team that recorded the milestone: Mrs. Joke Ayeni; Mr. Oluwaseyi Shodunke; Mr. Anudamola Ajala. Outstanding Contributor Award (Project Team Category) This award recognizes Mr. Olukayode Olutimayin for the outstanding contribution he made to the successful delivery of the modernization of the 21st Floor, Cocoa House. Recognition also goes to the individuals who were also part of the team that recorded the milestone: Mrs. Kikelomo Ajayi; Mr. Oluwaseyi Shodunke and Mr. Abiodun Gbade. Outstanding Contributor Award (SRC Transitional Project Revive Category) This award recognizes Engr. Olusoji Sangobiyi for his exceptional and invaluable contribution to SRC Revive Strategy in the redevelopment of Premier Hotel. Recognition also goes to the individuals who were also part of the team that recorded the milestone: Mr. Ade Ajayi. Outstanding Contributor Award (People and Capability Category)This award recognizes Mrs. Odunayo Adeniji For her outstanding contribution and exemplary efforts in managing the industrial relations issue at Lagos Airport Hotel. Recognition also goes to the individuals who were also part of the team that recorded the milestone: Mr. Ololade Shin-Aba and Mr. Abiodun Gbade Outstanding Contributor Award (Process Improvement Category)This award recognizes Mr. Abiodun Gbade For his tireless work ethic in anchoring the deployment of a stable internet infrastructure and successful migration from Google Workspace to Microsoft Office 365. Recognition also goes to the individuals who were also part of the team that recorded the milestone: Mr. Oluwatoba Ogunsakin and Mr. Oreoluwa Taiwo. Punctuality Award This award recognizes Miss Damilola Owoeye For her exceptional dedication and unwavering commitment to compliance with the biometric attendance management process. Most Helpful Employee Award This award recognizes Mr. Ololade Shin-Aba For his commitment towards fostering a positive and collaborative work environment with profound impact on the morale and productivity of the OICL team. Best Dressed (Male) Award This award recognizes Mr. Adeola Adedoyin For his outstanding commitment to professionalism, style, and the positive image he consistently project for our Company through his dressing. Best Dressed (Female) Award This award recognizes Mrs. Funmilola Ogunkoya For her attention to detail, sense of fashion, and consistent adherence to the Company’s dress code which has truly distinguished her as a role model for other colleagues.

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 in 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 in 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 organization 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 is 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 to the various board of the conglomerate saying that the issue of diversification is a key factor to the growth and sustainability of an organization. The Group Chairman disclosed that the company has been given a license for the Marginal Oil Field and the company is on the verge of becoming an oil-producing organization. “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 oil-producing organisations in Nigeria,” He said. On the 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 southwest states’ governors for their all-around support in the smooth running of the organization, 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.

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 execution and achievement of its shareholders’ aspirations and revalidate the strategic direction for OICL. Chairman of OICL, Otunba Ashiru in his 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.

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 Southwest, stressing that this is another significant digital step towards having a smart, globally competitive youth population.  Dr. Dosumu in her words further said, “Our young ones are our future. The youth are the drivers of development all over the world. A well-trained and properly kitted youth population will not only birth an economically viable society but will also engender the safety of all. As the Foundation grows, we pray that we are able to harness the talents and enthusiasm of all well-meaning members of the South-West towards accomplishing the best from this developmental initiative.  “As we can see from the name of the initiative we are launching today, it is about using education and innovation to drive economic development for the good of all. Our young ones cannot hunt the bird of tomorrow with yesterday’s stones. This is the age of digital learning and smart jobs.  “We need to ensure that our youths are equipped with the right education and the right skills which, we believe, will make them not only relevant but competitive in an increasingly technology-driven world. You must have what the market needs before you can sell. That is why we must give our young ones the skills and the opportunity to compete and excel on the global stage. That is the whole essence of today’s event.”  While stressing the importance of the DEFINED innovation, Dr. Dosumu said, “The initiative targets pupils and students but also, quite naturally, incorporates the potential for the creation of tech hubs for appropriate skills acquisition for young adults. The entire project focuses more on children within the public-school system and the less-privileged.”  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.”  “Our objective is for the Foundation to achieve the highest possible impact, for the highest possible number of people. A dream that is one step closer to reality today as we launch this exciting and high impact Odu’a Investment Foundation Project. The results we are seeing in such a short period of time are a testament to the great success we believe the Advisory Council will achieve.”  “In line with the mission of the Odu’a Investment Foundation which is to expand educational opportunities and promote youth development and information technology in Southwest Nigeria,” the foundation is therefore launching the “DEFINED’ project today. The Project which is an ambitious campaign, will take digital education and opportunities to all the 137 local government areas in southwest states of Oyo, Ondo, Ogun, Osun, Ekiti, and Lagos.”  “The youth are at the forefront of the adoption of digital technology and have the highest potential to benefit from what has become an increasingly evolving, and fast-paced digital world. This Project will help position Yoruba youth for the digital age, by providing digital education and creating opportunities for them to hone these skills in a supportive environment. With your support, we can achieve these objectives. With your support, this program has the potential to provide an opportunity of a lifetime to many young people across the region by creating our own digital revolution.” Ashiru said.  The keynote speaker, Professor Seun Kolade, who conceived the project idea maintained that Digital Education For Innovation and Economic Development is a timely project aimed at upskilling southwest Nigerian youth, captivating them for digital revolution.  Professor Seun Kolade highlighted some primary objectives of the DEFINED initiative as to develop a comprehensive curricular that spans the first 12 years of education, from Primary 1 to Senior Secondary School 3, in line with the Nigerian education system and in partnership with the relevant state agencies.  He maintained that the curricula will integrate digital skills and technology across subjects, ensuring that Southwest youths are equipped with relevant knowledge and competencies from an early age. Launch coding clubs in primary and secondary schools across western Nigeria, which will serve as platforms for integrating the curricula contents with extracurricular activities, these clubs will immerse young minds in the world of digital technologies, fostering enthusiasm and interest in digital skills.  The highlight of the programme was when students presented their work in programming and showcased their skills.  Representatives of the six southwest states pledged their support and promised to put the region first and make it an enviable region in Nigeria. Oyo State Governor, Engr. Seyi Makinde was represented at the event by the Secretary to the State Government, Prof. Olanike Adeyemo and the State Commissioner for Education, Prof. Salihu Adelabu, Ogun State Governor, Dapo Abiodun was represented by the State SSG, Chief Tokunbo Talabi, Ekiti State Governor, Mr. Biodun Oyebanji was represented by Mrs. Habibat Asubiaro, Lagos

Odu’a Investment Foundation, a non-profit-making arm of Odu’a Investment Company Limited is set to launch its educational intervention project, ’Digital Education for Innovation and Economic Development (DEFINED), an initiative aimed at upskilling South West youths and preparing them for digital revolution. The launch of ‘DEFINED’ is scheduled to take place on Tuesday, October 24, 2023, at the Oranmiyan Hall of the Lagos Airport Hotel, Ikeja, Lagos. The objective of the project is to take digital skills to all the 137 local government areas of the South-West states of Oyo, Ondo, Ogun, Osun, Ekiti and Lagos. The launch of the project will involve active participation of secondary schools and students across the six south states. While some will be physically present at the launch. Others will connect with the programme through the Internet. DEFINED initiative seeks to revolutionise digital skills education in South-West Nigeria, empowering Yoruba youths with the knowledge and competencies required to excel in the 21st-century knowledge economy. The project will involve the development of comprehensive curricula, establishing coding clubs, organising coding competitions and setting up innovation hubs, we aim to create a thriving ecosystem that fosters innovation, economic growth, and sustainable development in the region. Click here to Join The Official Launch

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 were 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 institutionalizing 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 institutionalize best practices in the discharge of their duties towards the attainment of SRC 2025 objectives. The retreat which commenced on 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 the emphasis should be in creating change awareness in the different OICL strategic businesses. The elements of corporate culture and the 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 modeling staff behaviour.