A member of the governing council of Oduduwa University, Ipetumodu, Ife North Local Government and long time friend of His Royal Eminence, the Maye of Yoruba land, Dr Adedoyin, the Oloyere of Oyere, Oba Adeoye Adefarakan has been appointed as the Chairman of the newly constituted Board of Oduduwa University Petrol and Oil Nig Ltd.
In the appointment letter personally signed by the President and Chancellor of Oduduwa University, His Royal Eminence (Dr.) Ramon Adegoke Atobatele Adedoyin, the duties of the newly constituted board will include overseeing the operations of the Oduduwa University Petrol and Oil Nig Ltd.
The Chairman, Oba Adeoye Adefarakan led board is also expected to appoint, pay and supervise the staff of the organization as well as other duties that the Board of Trustees and the Governing Council of Oduduwa University may delegate to them from time to time.
Though the appointment is yearly and attracts no salary, members of the 6-member Board are individually entitled to a percentage of the net profit generated which would be shared on a quarterly basis by the parties involved.
As part of the efforts of the University to ensure that the Oduduwa University Petrol and Oil Nig Ltd succeeds in its tasks, the management of the university had made available millions of naira as a take off interest subsidized loan facility from First Access Microfinance Bank Ltd to ensure a hitch-free take off of the operations of the organization.
Other members of the newly constituted Board are Mrs. Adeline Adeyemi- Vice Chairman, Mrs. Kemi Adewale- Financial Secretary while Barr. Abiodun Williams, Dr (Mrs.) Fakorede and Chief Segun Atoferu are members.
