As part of Odu’a Investment Company Limited’s Board and Management focus for repositioning the organisation for better performance, sustainable growth and profitability, a one-day strategic training session on Enterprise Risk Management (ERM) was organised by Odu’a Investment Company Limited.
The training took place on Friday, October 4, 2019 at the Function Room of the Premier Hotel, Mokola Hill, Ibadan. The Strategic training session have in attendance members of the Odu’a Leadership team, Managing Directors of Odu’a Subsidiaries, selected staff from various departments both at the Group Headquarters and the subsidiaries.
The ERM awareness creation Session was declared opened by the Group Managing Director/ Chief Executive Officer of Odu’a Investment Company Limited, Mr Adewale Raji. In his opening address, the Group Managing Director said that it has become necessary for Odu’a as a Company to live up to its mandate of becoming the vehicle for “economic development of Western Nigeria”
He said that the Management of Odu’a Investment Company Limited realize that the business world is becoming increasingly complex due to new, evolving and emerging risks and that failure to manage the risk effectively will in no doubt jeopardize the objective of creating values for Stakeholders and maximizing returns on Shareholders Investment.
The GMD stressed that the uncertainties in the business world today present both risk and opportunity with the potential to erode or enhance stakeholder’s values.
“We believe that effective Enterprise Risk Management (ERM) will enable Odu’a Investment Company Limited to deal effectively with uncertainties and associated risks and opportunities thereby enhancing capacity to build on our value system” he said.
The session was facilitated by the Group Head, Internal Control, Risk and Compliance (GHICRC) Mr Segun Agbekeye who left no one in doubt that ERM is the way to go.
In his presentation, Mr Agbekeye explained in details the meaning of ERM, its importance, Components and why it is a must for OICL and its Subsidiaries to know and apply it.
The GHICRC defined ERM roles and responsibilities to relevant Stakeholders, how to identify, assess, respond, control, communicate and monitor risks.