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SME Guide

Okitipupa Oil Palm Focuses on Major Redevelopment Plans, Says Chairman

The Chairman of the Board of Directors of Okitipupa Oil Palm (OOP) Plc, Mr. Akinboye Oyewumi, has stated that the Board is fully prioritising the completion of its major re-engineering program. This includes plantation development and redevelopment, recapitalization initiatives, and extensive stakeholder engagement.

Mr. Oyewumi emphasised that ethnic politics have no role in the management decisions of the company. He stated that recent calls for the removal of OOP’s managing director, Mr. Taiwo Adewole, are unsubstantiated.

Mr. Oyewumi clarified that Mr. Adewole has been a full-time employee of OOP PLC, not a political appointee. He further outlined that, as a public company, OOP PLC adheres to corporate governance codes, Financial Reporting Council of Nigeria regulations, Securities and Exchange Commission rules, and shareholders’ resolutions.

“These guidelines entrust the company’s day-to-day operations to the executive management team under the Board’s supervision,” Mr. Oyewumi stated.

In conclusion, Mr. Oyewumi expressed the board’s confidence in the progress made by OOP PLC under the current leadership, including Mr. Adewole and the executive management team.

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