Sunday Okobi
Odu’a Investment Company Limited (OICL) has formally inaugurated Dr. Tajudeen Kasali as its new Group Chairman, completing a seamless leadership transition that it said reinforces the conglomerate’s commitment to corporate governance and institutional continuity.
The inauguration of the new leadership took place during the Board of Directors’ (BoD) meeting at the weekend following the earlier announcement of his appointment at the company’s 44th Annual General Meeting (AGM) held on June 26, 2026 in Ibadan, Oyo State.
Kasali succeeds Bimbo Ashiru, whose four-year tenure as the OICL chairman has ended.
OICL stated that the change of baton was in line with the company’s governance policy of rotational chairmanship among the six shareholders’ South-west states.
“Otunba Ashiru remains a member of the board until 2028, when he will have completed his second and final term, thereby ensuring continuity, institutional memory and strategic stability,” the board disclosed to journalists.
The BoD stated that Kasali, who has served as a Director of Odu’a Investment Company Limited since 2020, is a distinguished medical practitioner and accomplished public administrator.
He holds a medical degree from the State Medical Institute, Zaporizhzhia, Ukraine. His public service career includes serving as the chairman of Ibeju-Lekki Local Government Area of Lagos State and the state Commissioner for Rural Development, Health and Special Duties.
The board stated that he also championed the establishment of the Lagos State Emergency Management Agency (LASEMA) and the Lagos State Safety Commission.
“Under Otunba Ashiru’s stewardship, Odu’a Investment Company Limited underwent a remarkable transformation from an asset-rich but cash-poor and underperforming enterprise into a strategy-driven regional investment conglomerate.
“Although the SRC 1.0 (Sweat, Revive and Create) Strategic Framework was initiated in 2021, its implementation was significantly accelerated under his chairmanship, culminating in its successful conclusion in 2025.
“During this period, the company strengthened corporate governance, rebalanced its investment portfolio, revitalised legacy assets, including the landmark redevelopment of Premier Hotel, Ibadan, and delivered a record-breaking Profit Before Tax of N23.58 billion for the 2025 financial year.
“The company’s credit rating was also upgraded by Agusto & Co. from A+ to Aa-. Building on these achievements, the implementation of the SRC 2.0 Strategic Framework commenced in January 2026 under Otunba Ashiru’s leadership to provide a clear roadmap for the company’s next phase of growth,” the company stated.
Speaking after his inauguration, Kasali expressed gratitude to the board and shareholders for the confidence reposed in him, and pledged to build on the solid foundation laid by previous leadership.
He identified as his immediate priority the implementation of the SRC 2.0 Strategic Framework (2026–2030), which was developed under the chairmanship of Ashiru.
The strategy targets N30 billion in cash-backed Profit Before Tax (PBT); N1 trillion in total assets, and N50 billion in Group revenue by 2030, positioning Odu’a Investment Company Limited as one of Africa’s leading regional investment conglomerates.
The board expressed confidence that Kasali’s extensive experience in healthcare, public administration and strategic leadership will guide the company toward even greater achievements.
It also commended Ashiru for his visionary leadership and outstanding contributions, noting that the seamless succession process further demonstrates Odu’a investment’s commitment to transparency and accountability.