16 March 2018

Nigeria: Ex-Directors Sue Odu'a Investment Over N50 Million Entitlements

Ibadan — Former top management staff of Odu'a Investment Company Limited have dragged the company before the National Industrial Court, Ibadan division over non-payment of their entitlements running to over N50 million.

The ex-staff include former Executive Director, Finance Odu'a Investment Company Limited, Alhaji Rasaki Adeniyi Badmus; former General Manager, Business Development Odu'a Investment Company Limited Mr. Bola Jaiyeola and former Managing Director Lagos Airport Hotel, Ikeja, Mr. Kayode Adenigba.

The trio while addressing journalists at the premises of the court yesterday, said they had tried all efforts, meeting stakeholders and top personalities from the six states that owned the company (South Western states) to persuade the incumbent Group Managing Director of the company, Mr. Adewale Raji, but that all efforts made to ensure that the matter did not become a media issue proved abortive.

One of the counsels to the trio, Olabisi Ibironke, argued that her clients retired about four years ago.

Justice Opeloye Ogunbowa adjourned the case till April 26th for proper mentioning.

In a swift reaction, the Head of Corporate Affairs of the company, Mr. Victor Ayetoro, declared said he was surprised that the ex-staff would resort to the court despite ongoing engagements with them.

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