Mr. Adewale Raji is the 10th Group Managing Director/Chief Executive Officer , Odu’a Investment Company Ltd, the business conglomerate owned by the six Southwest states.Mr. Adewale Raji is the 10th Group Managing Director/Chief Executive Officer , Odu’a Investment Company Ltd, the business conglomerate owned by the six Southwest states.
For example, it firmly established that the executive and group managing directors shall be appointed based on a tenure of five years. You have a term to serve for five years and due to performance, you can be reappointed for a second term. You will be assessed based on that term.
The whole idea about Lagos joining was the initiative of His Excellency, Governor Akinwunmi Ambode. It was Governor Ambode, who in his wisdom, could see the desire of the Yoruba to have this affinity. And he did moot the idea through the late Director General of the DAWN Commission, Mr. Dipo Famakinwa, who then approached me. He said the conversation was going on, adding that it was of interest by the government of Lagos State. I was subsequently invited to have a meeting with the governor.
So, in 2018, Lagos State was formally admitted to join Odu’a Group. This was a triumph for the people of the Southwest. And I feel extremely elated and fulfilled that one could be an instrument to make this happen to the Yoruba race.It is not depoliticisation; it is more of constituting a new corporate governance framework that aligns with best practices. Depoliticisation is one of the legs of the things coming after it.
Rather than thinking you are going to continue to be 100 per cent owner and you are not investing in it and it keeps going down, you are ultimately going to lose everything. And that was what happened to a lot of our business entities. If you talk about say, Cocoa Industries Limited or Nigeria Wire and Cable, that’s what has happened. We could not sustain running them and once the blood, which is money, is lacking, they are bound to go moribund.
The Small and Medium Enterprises Development Agency of Nigeria and the Bank of Industry have signed a Memorandum of Agreem
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