The GMD/CEO directs and control the day to day running of the business. He is responsible for giving strategic guidance and direction to the Board to ensure that the Company achieves its financial and strategic vision, mission and long-term goals.
The list of duties can be exhaustive but generally these key functions apply:
The finance and Investment Department is responsible for management of the organization’s cashflow and ensuring there are enough funds available to meet the day-to-day payments. This area also encompasses the credit and collections policies for the company’s customers, to ensure the organization is paid on time, and that there is a payment policy for the company’s suppliers.
The Department also interfaces with other department to prepare the organization’s Annual Budgets and forecasts, and to report back on the progress against these throughout the year.
The department has two main units as follows:
The Department is responsible for Administration and provides a wide range of services to the OICL Group and its employees, and ensures that daily operational needs are met.
The Department is tasked with achieving our strategic agenda which includes:
The Group Internal Audit Department is responsible for providing independent objective assurance to evaluate and improve the effectiveness and efficiency of internal controls, governance and risk management of OICL and its subsidiaries.
The Department manages audit activities for Finance and Operations as well as oversight functions for OICL Subsidiaries.
The Department is charged with protecting OICL Group against legal risks and ensuring that all transactions and operations are conducted properly and in accordance with the laws of the Federal Republic of Nigeria. The Department supports the Organization to provide legal advice, assist in negotiations and prepare and review all contracts and legal documents related to OICL Group Investment activities. The Department is also responsible for all interactions of the OICL Group with regulatory authorities.
The typical activities of the Department include:
The Property Development and Management Department (PRODAM) of the company is a Strategic Business Unit that contributes to both revenue generation and the growth aspiration of the organization.
The department through portfolio optimization maximizes the revenue earning capacity of the current properties of the company and further drives growth and expansion through her property development businesses. At the core of the activities of PRODAM is operational excellence targeted at supporting the company’s strategic investments and facilitate business growth.
The department currently being led by the Group Head, Property Development and Management, Engr. Tope Arowolo, has seven (7) Units, which derives the achievement of its mission and strategic objectives.
The units are Health and Safety Unit, Property and Facilities Unit, Power Management Unit, Estate Unit, Customer Services Unit, Billings Unit and Property Development Unit. The entire team works hand-in-hand to effectively and efficiently achieve the following;
The department comprises of the following units:
The Subsidiary Monitoring Unit plays the interface role between the Group Headquarters and the Subsidiaries including but not limited to:
The ICT Unit is responsible for the development of OICL Group IT strategy and the implementation / support of related technology infrastructure and systems, to state-of-the-art standards. Its main objectives are to enhance business performance, minimize risk, and sustain real-time availability, accessibility, integrity and security of systems and information.
The department covers four areas:
1.Application systems
2. IT Infrastructure
3.IT Services & Security
4. User Support
The Strategy Unit is responsible for providing global macro-economic insight to the management, advise on its impact to OICL Group Investment strategy and recommend future course of action to achieve sustainable progressive returns and reduce the downside impact.
The Unit further conducts economic research, and advises management in defining investment strategy.
The Sustainability & Growth Unit is being deployed by the Group Headquarters [GHQ] to play the business interventive role in the affairs of the Subsidiaries. This is in line with the GHQ identified requisite staffing areas which exceeds the prevailing capacity and capability of identified Subsidiaries. The overall objective is to ensure the sustainability of these companies in order for them to remain a going concern.
Corporate Affairs Department is the ears and eyes of the company. It is saddled with the responsibility of using effective Public Relations and communication tools both traditional, digital and social in projecting and improving on the company’s brand, public image and perception to engender trust, confidence and acceptability among her shareholders/stakeholders, internal and external publics, opinion leaders, Investors and Industry analysts.
Other functions of the department are:
Project Evaluation Management Department is saddled with the responsibility of developing learning and understanding within management team to ensure that a direction chosen on projects are correct and that the right mix of strategies and resources are used to get desired outcomes.
The activities of the department is grouped under three functions, namely
Project Evaluation process goes through three phases: