June 17, 2024

Council moves for recapitalisation of Odua Investment 


By Peter Egwuatu

The Global  Executive Council of Yoruba Elders, CYE has called for the recapitalisation of Odua Investment Limited in order to make it a behemoth of wealth and job creation in Yorubaland.

The Council made the appeal  after it reviewed the communique issued at the end of the South West Governors Forum held in Lagos recently. 

In a statement signed by Dr Victor Taiwo, CYE Secretary-General,  the Council appealed to the Governor Forum to consider recapitalisation of Odua Investment Limited to make it a behemoth of wealth and job creation in Yorubaland, stressing that the Company’s stake in some key companies has drastically reduced due to lack of capacity to make further fund injection when required. 

“There is a need to expand the capital base and structure of the company as a true conglomerate that can increase the patrimonial commonwealth of our people” the statement said.

Continuing, the Council stated : “We observed that all the six governors of the South West geo-political zone were in attendance. This is commendable as presence is the first sign of commitment. We urge the Governors to continue on this trajectory to show our people a good example of brotherhood and commitment to the well-being of motherland.

“The Adoption of a common anthem for Yorubaland -’ Ise Wa Fun Ile Wa’ – is most commendable. It signals a rallying point and the promise of a rebirth. The Council urged the Governors to further ensure the entrenchment of the anthem by making it mandatory in all primary and secondary schools in  the South West as well as in all formal gatherings – social and political. The Council urged that individual South West States’ Anthems be dropped in favour of ‘Ise Wa Fun Ile Wa’ “.

CYE also noted with delight the push by the South West caucus of House of Representatives for the South West Development Commission Bill. It joined the Governors in looking forward to its speedy passage.

The Council also noted the unanimity of the South West Governors on the desirability of State Police and regional collaboration on agriculture to ensure food security in Yorubaland.and pledged to collaborate with persons and institutions that advance the well-being and interest of the Yoruba people.

“ The Council, however, admonishes our Governors and  Legislators to consider the absolute necessity for synergy between them – the state actors and the credible and creditable non-state actors like CYE. This is highly essential and inevitable if truly we desire the perfect results for the uplift of Yorubaland.”