Odu’a Posts N890m Profit, Hires New Directors

Odu’a Investments Ltd has recruited four directors into its board, just as it posted a Profit Before Tax (PBT) of N890million for the 2019 financial year.

The Group Managing Director (GMD), Mr. Adewale Raji, who briefed reporters at the conclusion of the conglomerate’s 38th Annual General Meeting at its Cocoa House headquarters, Ibadan, Oyo State yesterday, said the board approved N320million as dividends for its six shareholders – Oyo, Osun. Ondo, Ogun, Lagos and Ekiti states.


He said with this, the company had paid N1.53billion cumulative dividends since 2015. The GMD said four directors were recruited within the last one year to strengthen the seven existing directors, who represent each state, adding that two are executive directors and two are independent directors.

Explaining the rationale behind the recruitment, which is partly a new idea in the 43-year old company, the board Chairman, Dr. Segun Aina, said independent directors were recruited in line with the new vision to make Odu’a a world-class conglomerate.

He said the two independent directors are professionals who will offer impartial views on plans and issues since they are not representing any shareholder.

Leave a Reply

Your email address will not be published. Required fields are marked *