Business
UOO commends Gov Otti’s transformation of Abia
Speaks on 70th anniversary
By Osa Amadi
The Chairman of U.O.O Nigeria Plc, Nze Edozie Uche Okafor, has commended the Abia State Governor, Dr. Alex Otti, on the rapid transformation he has brought to the state within a short time.
Speaking recently at the 36th Annual General Meeting (AGM) of the company held in Lagos, Edozie said: “We are excited about the transformation taking place in Aba, the state’s commercial hub. Governor Alex Otti has improved infrastructure, enhanced security and is driving investments into the city. We are proud of what is happening there.”
Edozie also disclosed that the company is “looking forward to celebrating its 70th anniversary, a milestone, in the city where our journey began.”
He said the 70th anniversary of U.O.O., scheduled to take place soon, is to celebrate the U.O.O. legacy, growth and contribution to Nigeria’s economy. The choice of Aba, he said, is symbolic because the company was established in the commercial city.
The Chairman said U.O.O., as usual, declared profit and dividend, and “the shareholders are happy, because the company has been paying dividends despite the harsh economic situation.”
He identified inflation and insecurity as the major challenges confronting the company, noting that both continue to affect business planning and expansion.
He said the 36th AGM of U.O.O. was held as part of her statutory obligation to strengthen its corporate governance and reposition the company for sustainable growth.
Also speaking, the Company Secretary and Legal Adviser, Mrs. Anuri Iyalla, said U.O.O Nigeria Plc remains committed to maintaining high standards of corporate governance in line with the Companies and Allied Matters Act 2020 and globally recognised governance best practices. “We also promote transparency, accountability and ethical decision-making through sound governance processes, enabling the board to make informed decisions in the best interests of the company and all its stakeholders,” she said.
The shareholders expressed confidence in the company’s growth trajectory and reelected Mazi Okechukwu Unegbu, Barrister S.Y. Odomokwu, and Mrs. Olayinka Mubarak as non-executives.
Founded in 1956 by Chief Nzedioramma Uche Okafor, U.O.O Nigeria Plc has evolved from an indigenous trading company into a conglomerate with core interests in manufacturing, real estate development, property management and agriculture.
