It was a period of celebration as directors and stakeholders took time to reflect on the tenures of Dr Segun Aina and Adewale Raji as the Chairman, Board of Directors, and Group Managing Director/CEO of Odu’a Investments Company Ltd. respectively.
Aina and Adewale retired earlier in the year after completing their two-year and 10-year tenures respectively.
Aina served as chairman from 2020 to 2022 and retired in May, 2024 after completing his four-year tenure as the director representing Osun State on the board. Raji completed his two terms of 10-year tenure in May, 2024.
Fellow directors, heads of subsidiaries, associate companies and other stakeholders took turns to highlight the sterling leadership qualities of the duo which showed in the overall repositioning of the conglomerate in line with the new vision to make it a global player.
At an event held on Saturday night, the current chairman, Otunba Bimbo Ashiru, set the tone by recalling how Aina came and introduced an exceptionally hard work culture which culminated in innovations that laid the foundation for the company’s repositioning.
In his goodwill message, the director general of Development Agenda for Western Nigeria (DAWN) Commission, Dr Seye Oyeleye, said history would be kind to the retiring duo for consolidating on the project conceived by the founding fathers 71 years ago.
“Some 71 years ago, some intelligent men sat in a room and conceived the idea of the first high-rise building in Nigeria, Cocoa House. Today, we are still enjoying it along with other monuments that are first of their kind in Nigeria. Some people would call them names that time, thinking they were crazy. But here we are today, generations of Yoruba sons and daughters are still enjoying it.
“Both Dr Aina and Mr Raji performed so well that history will be very kind to them. In many years to come, we will still be talking about the two of you. Yoruba land will not forget you. You came up at a time there were daunting challenges, but you were not daunted. Your skills were deployed such that Odu’a now has an A rating. We truly appreciate you,” he said.
Recalling how KPMG was engaged to recruit a new GMD in 2013, which led to the emergence of Raji and production of strategic paper of how to re-engineer the conglomerate, the company’s lead consultant, Mr Joseph Tegbe, said the board and management went through hell to effect new governance system.
“But in the end, they were able to ultimately get new, relevant board members and executive directors. The idea was to reposition Odu’a to become a global player as a conglomerate. Today, Odu’a now competes with topmost real estate companies in Nigeria. Both Aina and Raji left indelible marks on Odu’a,” Tegbe said.
Speakers recalled some of the duo’s achievements to include the remodelling of Premier Hotel, Ibadan, establishment of four new companies, improvement of corporate governance and cost-cutting measures which all combined to reposition the conglomerate. Others include payment of dividend since Raji assumed office in 2014, landmark admission of Lagos as a shareholder and first in-house succession of GMD.
A former governor of Ogun State, Chief Olusegun Osoba, thanked the board and management of the conglomerate for sustaining the legacy to the pride of Yoruba sons and daughters.
