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The governors of South West Nigeria have dissolved the Board of Directors of Odu’a Investments Limited.
The sack was announced in a statement by the Chairman, Southwest Governors’ Forum, Oluwarotimi Akeredolu (SAN) in Akure on Friday. He is the governor of Ondo State.
According to Akeredolu, the decision was taken at a virtual meeting held by the six governors on Friday. The dissolution took immediate effect.
The statement said the Group Managing Director (GMD) should take charge of the affairs of the conglomerate pending the constitution of a new board.
The conglomerate is owned by the defunct Western Nigerian government which was later divided into five states of Oyo, Osun, Ondo, Ogun and Ekiti. Lagos State was admitted as the sixth owner in 2018.