Segun Atanda/
The Odu’a Investments Limited (OIL) has named its Executive Director and Group Chief Financial Officer, Mr Abdulrahman Yinusa, as the new Group Managing Director/Chief Executive Officer (GMD/CEO)
A statement announcing Yinusa’s appointment was made available to newsmen today by the company’s Public Relations Manager, Mr Victor Ayetoro.
His appointment takes effect on June 1, 2024 after the retirement of the current GMD, Mr Adewale Raji, on May 31.
Raji will retire after two terms as GMD, spanning 10 years. He was appointed in 2014, succeeding Mr Adebayo Jimoh.
The 47-year old conglomerate has witnessed many positive changes during the tenure of the retiring GMD.
Odu’a acknowledged Raji’s landmark achievements in the statement.
“As Group Managing Director, he oversaw the group’s return to a growth and profitability trajectory through strategic restructuring of the operating structure of the group to improve efficiency. During his two tenures, the company grew Profit Before Tax (PBT) from N378 million (2013) to a high of N2.2 billion (2021), paid a total of N2.56 billion in dividends so far.
“The company diversified into agribusiness, oil and gas and other sectors through strategic partnerships, and repositioned the group’s key subsidiaries and assets. He also helped improve the group’s corporate governance framework, and culture of accountability and transparency amongst management and staff.
“Prior to his appointment at Odu’a Investment, Mr. Raji was the Managing Director, Distribution Services at PZ Cussons Nigeria Plc where he served for eight years on the Board,” it said.
Yinusa is a thoroughbred finance professional with over three decades in-depth experience in the financial services industry. He will be responsible for implementing the Group Board’s shared vision and plan, as well as ensure continued execution of existing strategic projects.
Speaking about his competencies and experience, the statement said, “Prior to joining Odu’a Investment, he retired from Diamond Bank (now part of Access Bank) as an Executive Director and Chief Financial Officer. In the course of his over 30-year career, he demonstrated unique leadership skills, versatility and excellence, and developed expertise in several areas including asset management, local and international capital raising, mergers and acquisitions, strategy, treasury and business transformation.
“Mr. Yinusa graduated with a B.Sc. Accounting from the Ahmadu Bello University, and holds both M.Sc. Economics and MBA (Finance) degrees from the University of Lagos. He is also an alumnus of the University of Cambridge, IMD, Switzerland and INSEAD, France where he attended top management programmes”
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