Odua Investment Staff Give South-West Governors One Month To Appoint New Board, Reject Sole Administrator

Some aggrieved staff of Odua Investment Company Limited have given a 30-day ultimatum to governors of South-West Nigeria to immediately appoint directors into the board of the company following its dissolution or face legal action.

The staff gave the notice in a written petition to reject the nomination of the company’s Group Managing Director, Adewale Raji, as sole administrator to take charge of all activities of the board.

In the petition forwarded to Ondo State governor and Chairman, South-West Governors Forum, Rotimi Akeredolu, the members described the choice of Mr Raji as new helmsman of the company as illegal and unlawful.

They explained that the appointment of Raji in light of a pending case at a Federal High Court to challenge his validity in office ws also null and void.

Last week, the six South-West governors had during their virtual dissolved the board of Odua Investment Limited with immediate effect.

The petition reads, “More intriguing is the fact that the said Mr. Raji is the 4th defendant in the pending suit whilst the governors of the South-West states are 9th–14th defendants respectively.

“It appears therefore that the purported action of the governors (who are defendants in the pending suit) is a deliberate attempt to foist a position of helpless on the court before which the applications are pending, the same having been adjourned to 29th April, 2020 for hearing.”