Transcorp Appoints Oliver Andrews As Independent Non-Executive Director
The Board of Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s largest listed conglomerate, has announced the appointment of Oliver Andrews to the Board, as an Independent Non-Executive Director.
Mr Andrews brings over 35 years of experience in infrastructure development, public-private partnerships and strategic advisory working with regional and international institutions, international corporations and DFIs.
Mr Andrews most recently served as the Chief Investment Officer at the Africa Finance Corporation (AFC), one of the largest investors in infrastructure solutions in Africa, where he oversaw the growth of assets under management, from US$1 billion to over US$8.4 billion, including significant investments in the energy and natural resources sector
Commenting on his appointment, the Group Chairman Transcorp Plc, Mr. Tony O. Elumelu, CON said “We are delighted to welcome Oliver to the Board of Transcorp, as we execute on delivering our purpose of ‘Improving Lives, Transforming Nigeria.’ His experience of power and infrastructure will be a great asset to Transcorp, as we continue to implement our strategies of suppling robust, dependable power in Nigeria and across Africa.”
READ ALSO: Transcorp Increases Revenue In 2021 Half Year Result
Mr. Andrews has held several senior positions, including being Executive Director and Chief Investment Officer of the African Finance Corporation, Managing Director of the Gambia Ports Authority, and a strategic advisor to several governments as a member of the Africa & Middle East and Commonwealth Infrastructure Technical Advisory Groups. He is the pioneer Chairman of the Africa Infrastructure Development Association, member of the Global Climate Finance Lab and Chair of the Africa Centre.
An engineer by training and experience, he is a graduate of the University of Wales, where he received a postgraduate diploma in port and shipping administration. He has an MBA from the Cardiff Business School. He is a Fellow of the Chartered Institute of Transport & Logistics, Member of the Chartered Institute of Marketing, Fellow of the Royal Society of Arts, and Member of the Institute of Electronic and Electrical Incorporated Engineers.
Transnational Corporation of Nigeria Plc (Transcorp) is a publicly quoted conglomerate, with a diversified shareholder base of over 300,000 investors.
Trranscorp’s portfolio comprises strategic investments in the power, hospitality, agribusiness and oil and gas sectors and includes Transcorp Hilton Abuja, Transcorp Hotels Calabar, Transcorp Power Ltd, Transafam Power Ltd, Transcorp Energy and the recently launched digital hospitality platform, Aura by Transcorp Hotels.
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BREAKING: CBN Speaks On Devaluation Of Naira To N630/$1
The Central Bank of Nigeria ( CBN) on Thursday denied devaluing the naira .
This clarification came from the
Acting Director, Corporate Communication, Dr. Isa AbdulMumin, in a statement titled, “CBN Has Not Devalued the Naira”.
He said: “The attention of the Central Bank of Nigeria (CBN) has been drawn to a news report… titled “CBN Devalues Naira To 630/31”.
“We wish to state categorically that this news report, which in the imagination of the newspaper is exclusive, is replete with outright FALSEHOODS and destabilizing innuendos, reflecting potentially willful ignorance of the said medium as to the workings of the Nigerian Foreign Exchange Market.
“For the avoidance of doubt, the exchange rate at the Investors’ & Exporters’ (I&E) window traded this moming (June 1, 2023) at N465/US$1 and has been stable around this rate for a while.”
The bank advised the public to ignore the news report in its entirety, saying it’s speculative and calculated at causing panic in the market.
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BREAKING: After Subsidy Removal, NNPC Increases Petrol Price To Over N500
The Nigerian National Petroleum Company Limited (NNPC) on Wednesday adjusted the pump price of petrol by over 100% to between N488 and N557.
The development followed the announcement by President Bola Tinubu during his inaugural address on Monday that fuel subsidy was ‘gone’.
However, it was learnt that the president will meet with organised labour from 2pm Thursday (today) afternoon.
The prices have now been adjusted upward from between N189 to N194 to N537 per litre in Abuja and other North-central States.
For Lagos and other South-west states, a litre of fuel now sells for between N488 and N500 per litre.
In the South-east, the price will range from N515 to N520, while in the North-west, the price of the product was raised to N540. In the North-east, it moved from N199 to N557 per litre.
For the South-south, it is now from N511 to N525 per litre. Nigeria’s subsidy budget of N3.6 trillion for this year, expires in June, 2023.
BREAKING: FCMB Founder Olasubomi Balogun Dies
Theo Founderf First City Monument Bank (FCMB), Otunba Michael Olasubomi Balogun, is dead.
According to reports, family sources revealed that Balogun died in London Friday morning at the age of 89.
He was Otunba Tunwase of Ijebuland before his death.
As a ranking Ijebu Chief, his death will, however, only be officially announced in line with tradition.
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