Odu’a celebrates 60 years of Cocoa House, pledges modernisation

By Adejayan Gbenga –

Odu’a Investment Company Limited (OICL) on Tuesday marked the 60th anniversary of Cocoa House, Ibadan, with tributes, cultural performances, and a renewed commitment to modernise the historic skyscraper.

At the grand finale of the month-long celebrations held at the Cocoa House premises, OICL Group Managing Director, Mr. Abdulrahman Yinusa, described the edifice as “a statement of vision, enterprise, and excellence” that has stood tall since its commissioning in 1965.

Yinusa recalled that the building, funded through cocoa proceeds under the leadership of Chief Obafemi Awolowo and commissioned by Chief Samuel Ladoke Akintola, symbolises the prosperity and foresight of the Yoruba people. He likened Cocoa House to “an oríkì in stone and glass, telling the world of a people who could plant cocoa and harvest skyscrapers.”

The anniversary events featured a balloon release, a guest lecture in collaboration with DAWN Commission, a charity outreach, a youth hangout, and an Open House with free entry into the Odu’a Museum and Hall of Fame.

Reaffirming Odu’a’s vision, Yinusa pledged continuous investment in the skyscraper’s modernisation, stressing that it stands as proof that unity and discipline can transform modest resources into enduring achievements.

OICL Group Chairman, Otunba ‘Bimbo Ashiru, hailed the building as “a living, breathing chapter of the Yoruba story,” noting that its recovery from the devastating 1985 fire underlined resilience and strength.

Also speaking, former Minister of Industry, Olori (Dr.) Onikepo Akande, described Cocoa House as a beacon of agricultural and economic prosperity, recalling that it was Nigeria’s first high-rise building and held the record for 14 years.

The event drew dignitaries including shareholder state representatives, business leaders such as Chapel Hill Denham CEO Bolaji Balogun and FCMB CEO Ladi Balogun, as well as industry veterans. Ashiru assured that Odu’a would continue to preserve Cocoa House as both a historic monument and a thriving hub of enterprise for future generations.