Otunba Bimbo Ashiru has bowed out as Group Chairman of Odu’a Investment Company Limited after four years of transformational leadership, handing over at the conglomerate’s 44th AGM in Ibadan to his successor, Dr. Tola Kasali. The exit marks the end of Ashiru’s 2022-2026 tenure at the South-West-owned investment group founded by the late Chief Obafemi Awolowo, as the company transitions leadership to drive its next growth phase.
Highlighting some of his achievements, Otunba Ashiru disclosed that the company recorded significant milestones despite a challenging macroeconomic environment, adding that the organisation had been repositioned for sustainable growth.
Among the major achievements, he highlighted the commissioning of the newly remodelled Premier Hotel, Ibadan, which is expected to commence full operations in the fourth quarter of 2026 and become the city’s leading hospitality destination.
He also mentioned the celebration of the 60th anniversary of Cocoa House in July 2025, describing the iconic building as an enduring symbol of the Yoruba nation’s legacy.
According to him, the upgrade reflected the Board’s commitment to fiscal discipline, sound treasury management and professionalism.
He added that the company had evolved from being “asset-rich but cash-poor” into a strategy-driven investment group that is both asset-rich and cash-rich.
Otunba Ashiru greatly expressed appreciation to the governors of the six South-West states, members of the Board, the current and immediate past Group Managing Directors, subsidiary boards and management, as well as the company’s staff for their support throughout his tenure.
Responding, the new Group Chairman, Dr. Tola Kasali, called on stakeholders to work together to build a world-class conglomerate that delivers sustainable returns and creates lasting value for the people of the South-West.
Dr. Kasali reaffirmed his commitment to the successful implementation of the company’s SRC 2.0 strategic agenda, promising to provide the leadership, governance and oversight required to achieve its objectives.
“As a Board, we will not relent and we will not be distracted. I call on every Board member, every director of our subsidiaries, every member of management and every staff across the Group to join me in this mission,” he said.
He also assured the shareholder states of Oyo, Ondo, Ogun, Osun, Ekiti and Lagos of prudent management, sustained returns on investment, continued investment in employees and a stronger commitment to driving economic development across the South-West.
Also speaking, the Group Managing Director, Abdulrahman Yinusa, disclosed that Odua Investment had begun the process of securing its first foreign credit rating from a major international rating agency.
He said the initiative would position the conglomerate to access international debt capital markets and attract foreign direct investment, further strengthening its long-term growth strategy.
“In a landmark achievement for corporate governance and transparency, the Group presented its first-ever fully consolidated financial statements, combining the financial positions of the holding company and all its subsidiaries, thereby providing shareholders with an unfiltered and internationally comparable view of the Group’s collective strength.”
Credit: nationonlineng.com
