Wemabod Showcases Leadership Continuity, Unveils Oladunni as New CEO Ahead Ejidiran’s Exit

Wemabod Showcases Leadership Continuity, Unveils Oladunni as New CEO Ahead Ejidiran’s Exit

Wemabod Limited, a subsidiary of Odu’a Investment Company Limited (OICL) has demonstrated a strong commitment to smooth leadership transition with the appointment and official unveiling of Mr. Bashir Oladunni as its incoming Managing Director/Chief Executive Officer (MD/CEO), effective December 19, 2024, ahead of the retirement of its current MD/CEO, Mr. Oluyemi Ejidiran.

Mr. Oluyemi Ejidiran has served Wemabod Limited with dedication and distinction for six years. Under his leadership, Wemabod experienced significant growth and profitability.

He spearheaded a strategic restructuring that enhanced operational efficiency and expanded the company’s scope from Property Management to Property Development as well as establishment of Westlink Facility Management Limited as a subco.

Notable projects initiated during his tenure include development of luxury residential estate at Ikoyi Crescent, Lagos, remodelling of Unity House,Marina into luxury mixed used apartments, development of residential houses along Lekki/Epe Expressway known as Serenity Estate, and developments in Ado Ekiti, among others.

Wemabod’s asset and property portfolio saw substantial growth, and the company achieved an “A-” rating from Agusto & Co., reflecting robust operating cash flows, stable earnings, and a strong occupancy rate of nearly 90% across its diverse property portfolio.

The company’s diversified income stream and innovative project financing strategies have been key to its sustained revenue growth and low leverage. Mr. Oladunni Bashir brings over 22 years of real estate industry expertise to his new role. As the Controller of Estates, he managed over N34 billion real estate assets for Wemabod Limited.

His academic credentials include an HND in Estate Management from The Polytechnic Ibadan, an MSc in Housing Development and Management from the University of Ibadan, a Postgraduate Diploma in Estate Management from the Federal University of Technology Akure, and an M.Tech in Estate Management from Bells University of Technology, Otta. He is a Fellow of the Nigerian Institution of Estate Surveyors & Valuers and a Registered Member of Nigeria’s Estate Surveyors & Valuers Registration Board.

Additionally, he is a PMI Certified Project Management Professional, a Chartered Arbitrator, and a faculty member at Reals Academy and the Association of Investments & Portfolio Managers. He also serves as an external examiner at the Estate Department of Osun State College of Technology, Esa-Oke.

Mr. Oladunni has a rich professional background, having worked with Muri Adi Associates before joining Wemabod Limited in 2002. His areas of expertise include Real Estate Investment Analysis, Portfolio Management, and Project Management. He is an alumnus of Lagos Business School. He has participated in numerous local and international training programs, including a course on International Valuation Standards at the College of Estate Management, Reading, UK. He is also a member of the prestigious Ikoyi Club and a Paul Harris Fellow of the Rotary Club of Ikoyi. He is happily married with children.

The Chairman of the Board, Wemabod Limited, Esv. Ibukun Efuntayo remarked: “Today, we announce the retirement of a Managing Director who has played a pivotal role in Wemabod’s transformation into a world-class conglomerate. On behalf of the Board of Directors, I extend our sincere gratitude to Mr. Oluyemi Ejidiran for his exceptional leadership, vision, courage, and professionalism. We are also thrilled about the smooth leadership transition and congratulate Mr. Oladunni Bashir on his appointment. I am confident that he will elevate Wemabod Limited to new heights, building on the solid foundation laid over the past years.”

Mr. Oluyemi Ejidiran, reflecting on his tenure, stated: “It has been a great honour to be entrusted by the Company’s Shareholders and the Board to lead this organisation since December 2018. During this period, we achieved remarkable financial performance and corporate governance improvements. I am pleased with the progress made in portfolio rebalancing and asset optimization in our key real estate sectors. I am confident that these successes will be further accelerated under the capable leadership of Mr. Oladunni and the talented team we have cultivated with the Board’s support.