BY MOTOLANI OSENI The Nigerian equities market, yesterday, declined by N345 billion on selloffs in Transnational Corporation (Transcorp) Plc and 43 others. The All-Share Index declined by 550.88 points, representing a loss of 0.51 per cent, to close at 106,904.25 points. Similarly, the overall market capitalisation value shed N345 billion to close at N66.943 trillion. […]
By Ukpono Ukpong The Federal Government yesterday issued a discharge certificate to Transcorp Power PLC for the privatization of Ughelli Power Plant PLC. Presenting the discharge certificate at the Presidential Villa in Abuja, the Vice President, Yemi Osinbajo said that relinquishing key national assets to only serious-minded investors is the right approach to privatization and […]
Mrs. Foluke Abdulrasaq, holds an M.Sc degree in Banking and Finance from the University of Ibadan. Mrs. Abdulrasaq, has served in both public and private sectors. She served as a Commissioner in the Ministries of Finance and Women Affairs in Lagos State. Lagos state Accelerated Revenue Generation Programme (ARGP) was formulated during her tenure. Mrs. […]
Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s leading listed conglomerate, owner of Transcorp Power Limited, one of Nigeria’s largest power producers and the iconic Transcorp Hilton in Abuja, has announced the appointment of Mrs. Foluke K. Abdulrazaq to its Board of Directors, as Vice Chairman, effective Friday, June 5, 2020. Mrs. Abdurazaq brings considerable experience […]
The Transnational Corporation of Nigeria Plc (“Transcorp”) has recorded an impressive N3.7bn profit after tax in its financial year ended December 31, 2019. In its audited financial statements, the Group recorded a turnover of ₦76.35 bn, profit before tax of ₦7.90bn and a profit after tax of ₦3.71bn. Despite the drop in year-on-year financial performance, […]
Transnational Corporation of Nigeria Plc (Transcorp) has announced a significant appointments to its Board and Executive Management. Transcorp is a listed industrial holding company, whose interests include Transcorp Power, Nigeria’s largest power generator, Transcorp Hotels, owner of the iconic Transcorp Hilton, and significant upstream oil and gas assets. The group, appointed Owen Omogiafo as President/GCEO […]
Valentine Ozigbo, President/CEO of Transnational Corporation of Nigeria Plc, Transcorp, a diversified conglomerate with interest in power, Hospitably and Oil & Gas, met with the state working committee (SWC) and State Executive Committee (SEC) of the Peoples Democratic Party, (PDP) led by Chief Ndubuisi Nwobu at the weekend. Ozigbo, who met differently with the SWC […]
Vice President Yemi Osinbajo on Monday at the Presidential Villa, Abuja, presented Certificate of Discharge to Transnational Corporation of Nigeria (Transcorp). A certificate of discharge is a written statement of satisfaction that a party has discharged its obligations credibly. The Group Chairman of Transcorp, Tony Elumelu was accompanied by the group Chief Executive Officer, Val […]
Motolani Oseni Due to persistent sell pressure, equities market of the Nigerian Stock Exchange (NSE) continued its bearish movement to lose N28billion at the close of Monday trading activities. The stock market benchmark index, NSE All Share Index (ASI) dropped by 56.73 basis points or 1.25 per cent close the week at 28,847.81 basis points […]
Motolani Oseni The equities market of the Nigerian Stock Exchange (NSE) on Thursday rebounded with an increase of a whopping N14 billion market capitalization, closing the first trading day in August at N13.522 trillion against N13.508 trillion recorded the previous day. Although, the improvement was said to have been achieved due to bargain hunting in […]
Temitope Adebayo Trading on the Nigerian bourse opened for the week on Monday on a negative trend with the market capitalisation dropping by N6 billion or 0.05 per cent to close at N10.973 trillion against N10.979 trillion on Friday. Also, the All-Share Index which opened at 29,212.00 lost 15.13 points or 0.05 per cent to […]
Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s leading diversified listed conglomerate, has announced new appointments to its Board and executive management. Valentine Ozigbo has been appointed as the President/CEO of Transnational Corporation of Nigeria Plc with effect from January 1, 2019. He will succeed Mr. Adim Jibunoh, who is retiring on December 31, 2018. Ozigbo, […]
The pride and pearl of the Nigerian Hospitality Industry – Transcorp Hotels Plc. (Transcorp Hotels) has announced its Unaudited Financial Statements for the period ended June 30, 2018, indicating a positive expansion with significant growth over same period last year. The company recorded a turnover of N8.01billion, Profit Before Tax of N2.02billion and Earning Per […]
Heads of Anti-Corruption Agencies in Commonwealth, Africa on Friday, rounded off its 8th Regional Conference with the appointment of the Acting Chairman, Economic and Financial Crimes Commission, EFCC, Mr Ibrahim Magu as its new chairman. Magu’s appointment followed the body’s resolve to strengthen cooperation and collaboration among member countries for the purpose of facilitating assets […]
Shareholders of Transnational Corporation of Nigeria Plc (Transcorp) have commended the management of the company for their effort and commitment towards bringing the investment conglomerate back to profitability. The shareholders who spoke during the company’s 12th Annual General Meeting which was held in Lagos on Monday, said that the leadership of the company had showed […]
The Transnational Corporation (Transcorp) Nigeria Plc, for the third quarter ended 30 September 2017 showed sustained growth all performance measuring indices, coming out of loss position in 2016 financial year. The company’s unaudited financial statement for the Q3 period released by the Nigerian Stock Exchange (NSE) recently showed resilience, volume growth and profitability, just as […]
The lead indicators of the Nigerian equities market recorded a rebound of 0.07 percent on Wednesday. Investors moved 247.7 million shares worth N1.2 billion, a decline of 38 and 37 percent respectively when compared to previous sessions transactions of N402.7 million units of shares worth N1.9 billion. The All Share Index however added 18.65 points […]
Minister of Power, Works and Housing, Babatunde Fashola and the Governor of Delta State, Ifeanyi Okowa have commissioned a 115MW-turbine installed by Transorp Ughelli Limited, bringing installed capacity to 620MW from the 160MW the owner inherited on privatization in 2013. Transcorp stated that it currently generates only 300MW due to shortage of gas supply, and […]
Transnational Corporation of Nigeria has announced a profit before tax of N7.7 billion for the financial year ended December 31, 2014. A statement from the company Wednesday, said its gross profit stood at N27.6 billion for the financial year, while group operating profit also grew from N10.2 billion to N13.6 billion in 2014. The company […]