Wemabod’s profit before tax rises to N1.3bn

…As Ejidiran, past MD, garners encomiums at retirement get-together

Wemabod Limited, subsidiary of Odua Investment Company Limited grew profit before tax from N190 million to N1.3 billion within five-year period.

This is coming as Odua and Wemabod Board of Directors, friends and family poured immediate past managing director of the property company.

Bimbo Ashiru, Group Chairman, Odua who revealed this at a retirement party organised for Ejidiran in Lagos, staid that “under the leadership of Ejidiran over the last six years, Wemabod experienced significant progress in different areas of its business, set itself on a path of modernisation and growth.

“Under your leadership, you have transformed the group, it went through a process of re-envisioning and diversification, becoming a full-service real estate business covering real estate development, property management and facility management.”

“Your commitment to excellence in real estate delivery is noteworthy, this is evidenced in property upgrades such as those of Western House and Investment House, two buildings that are now much more livable and lettable than they used to be.

“Worthy of special note is the recovery of the property at 37, Ikoyi crescent which had been a subject of dispute for several years, not only were you instrumental to the recovery of the property but also making it possible for Wemabod Limited to take possession.

“Wemabod Limited is known for high-quality projects and an improved level of stakeholder engagement while customer engagement has been improved through several interactive sessions organised in Nigeria and property road shows in the UK, USA and Canada.

The chairman also said that all these significantly enhanced Wemabod’s market position and brand reputation, and that Ejidiran has been given two years consultancy job for the whole Odua Group.

Read also: Wemabod eyes new markets, diversify offerings

Nureni Oladipo Adisa, chairman, Board of Directors, Wemabod Limited, also said: “Under your astute leadership, the company experienced remarkable milestones, strategic expansion into new markets and record-breaking financial performance, your ability to foster a culture of teamwork, integrity and innovation has set a standard that will continue to inspire those who follow in your footsteps.”

Adisa stressed that through Ejidiran’s mentorship and support, countless employees have grown both professionally and personally, a testament to belief in the transformative power of leadership.

“You have left a legacy that reflects the highest ideals of service and leadership, we are immensely proud to have had a privilege of working alongside you.”

Bashir Oladunni, managing director/CEO, said that beyond professional achievements, the retiring Ejidiran has elegant demeanor, unwavering integrity and resilience which are inspiration to those who had worked with him.

According to him, “Your dashing charisma, intelligent decision-making, and judicious management propelled the organisation to new heights. Under your guidance, Wemabod achieved significant growth and accomplishments that will remain etched in the annals of our history.”

Ejidiran in his response thanked the Odua investment and Wemabod, especially the staff for their support during his tenure as Managing Director.

“With the challenges and humongous problems when I became MD, without the support and cooperation of the Odua and board of directors of Wemabond, I won’t have succeeded,” he said.

He appreciated specially the immediate past GMD, Adewale Raji and Bimbo Ashiru, chairman of Odua Group for their support.