*OICL Group Chairman assures of more commitment to repositioning it By; BAYO AKAMO, Ibadan The management staff of the Odu'a
*OICL Group Chairman assures of more commitment to repositioning it
By; BAYO AKAMO, Ibadan
The management staff of the Odu’a Investment Company Limited (OICL), captains of industries, top government officials, investors, other stakeholders on Tuesday as celebrated the 60 years of iconic Cocoa House Building Ibadan.
Speaking at the grand finale of the Cocoa House Diamond Jubilee, marking 60 years since the commissioning of the building, the Group Chairman of Odu’a Investment Company Limited, (OICL) Otunba ‘Bimbo Ashiru said the company is committed to repositioning Cocoa House as a modern business hub.
Otunba Ashiru who maintained that “Cocoa House, at 60 years old, is not just a building we work in; it is a living, breathing chapter of our collective story as a people lauded governors of the south west states for their support in sustaining the legacies of the founding fathers.
“Cocoa House, at 60 years old, is not just a building we work in; it is a living, breathing chapter of our collective story as a people.From the moment we sang the National Anthem earlier, and through the moving documentary we have just watched, we have been reminded that Cocoa House was not born of chance”, he said.
Otunba Ashiru added, ” It was born of vision. In the early 1960s, at the very height of Nigeria’s cocoa boom, the leaders of the Western Region dared to dream of a commercial tower that would stand as a symbol of prosperity and modernity.
“That dream became reality in 1965, when this 26-storey masterpiece opened its doors—then the tallest building in tropical Africa. Imagine the excitement of that time: a post-independence Nigeria, with cocoa farmers in the West watching as the proceeds of their labour were turned into this towering proof that Africa could design, finance, and build to world-class standards.But history, as we know, is not a straight road.”
The OICL Group Chairman stressed, “The story of Cocoa House took a tragic turn on January 9, 1985, when fire swept through the building. Lives were lost. Families were shattered. And for many, it felt like the heart of Ibadan itself had been wounded.Today, as part of this celebration, we pause to honour those who perished that day.
” Let us remember them not only with sorrow, but with the knowledge that their sacrifice is forever woven into the fabric of this building’s legacy. May their souls rest in perfect peace.The inferno could have been the end of Cocoa House. But just as our forebears built it with courage, so too did the generation after rise with resilience. Step by step, brick by brick, the building was rehabilitated and restored to life, and once again open for business”.
Otunba Ashiru noted ” That restoration was more than construction work; it was an act of defiance, a statement that we will not be defined by our setbacks, but by our comebacks”, adding, “Since then, Odu’a Investment Company Limited has been custodian of this legacy, preserving its historic value, keeping it functional for tenants and partners, and gradually modernizing it to meet new demands.
” This diamond jubilee is proof that the stewardship of many shareholders, boards, management, staff has borne fruit.So today, I must say thank you, to our shareholders, the Governments and people of the South-West, who entrust us with this treasure.To our Boards past and present, whose governance and foresight have kept the vision alive.”
Earlier in his welcome address, the Odu’a Investment Group Managing Director, Mr Abdulrahaman Yinusa in his welcome address said the Cocoa House Building which was conceived under the golden leadership of Chief Obafemi Awolowo and commissioned by Chief Samuel Ladoke Akintola rose from the rich proceeds of cocoa to claim its place in history as the first skyscraper in West Africa. Standing tall at 105 metres.From day one, it was more than concrete, steel, and glass.
“Today, we are not merely marking time; we are honouring an idea. An idea born in the hearts of our founding fathers, nurtured by the sweat of our farmers, and lifted skyward by the vision of leaders who dared to dream beyond their season.” he said.
The immediate past Group Managing Director of OICL, Mr Adewale Raji while speaking, said, “I want to say we are privileged to be marking the diamond anniversary of Cocoa House.
” I wholeheartedly congratulate the shareholders because this is all about them. The board and management and staff of Odua Investment Company who have sustained this legacy that we are celebrating today, giving hope for the future and to essentially say what we celebrate today is we celebrate a lot of courage, a lot of innovation by our fore fathers. Cocoa house was named Ile Awon Agbe to acknowledge the toiling effort of our farmers in sustaining the economy of the then Western region.”
New Nigerian recalled that the construction of the iconic Cocoa House Building as one of the legacies of the then western region government under the management of OICL started under the leadership and government of the late sage, Chief Obafemi Awolowo and completed under the leadership of his successor, Chief Samuel Ladoke Akintola in July 1964, and was officially commissioned in July 1965.
The vision for Cocoa House was conceived in the late 1950s by Chief Obafemi Awolowo the then Premier of the Western region, who was determined to translate agricultural prosperity into enduring infrastructure.
The edifice was originally established to serve as he headquarters of the Western Nigeria Marketing Board, Cocoa House was designed to centralize the administration of Cocoa exports and facilitate economic planning. It was not merely a commercial space, but a manifestation of regional confidence, industrialization and aspiration.
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