Business
Transcorp Hotels Plc Appoints New Non-Executive Director
Udechukwu Obi Osakwe has been appointed a non-executive director of the leading hospitality brand Transcorp Hotels Plc, effective February 17, 2023, subject to the approval of shareholders.
Osakwe’s appointment comes following the retirement of Mr. Alexander Adeyemi from the Board after serving for close to 4 years.
Osakwe brings to the Board his extensive experience in Finance and Management Consulting, having held critical roles across the public and development sectors. He is an experienced Chartered Accountant, Finance Director, and strong finance professional with a demonstrated history in the Management Consulting Industry.
He has worked with Donor Organizations such as the World Bank (IDA), AfDB, Global Fund and the GAVI.
With more than 30 years of private and public sector professional experience covering management consultancy and oversight of financial management operations, with the Federal Ministry of Finance, the Federal Ministry of Health Nigeria, and the Office of the Accountant-General of the Federation (Treasury House) Abuja, Osakwe is a great addition to the Board of Transcorp Hotels Plc.
Osakwe holds a B.Sc in Accountancy from Anambra State University of Technology (ASUTECH), Enugu, and an MBA in Finance from the University of Nigeria (Enugu).
The Board of Transcorp Hotels expressed optimism that Mr. Osakwe’s invaluable experience and commitment to corporate governance would be of great benefit in driving sustainable business growth for the company.
The Board also expressed its appreciation to Alexander Adeyemi for his excellent contributions and commitment to the growth of the Company and wished him success in his future endeavours.
Transcorp Hotels Plc is listed on the Nigeria Exchange Group (NGX). The leading hospitality brand is the owner of the award-winning properties, Transcorp Hilton Abuja and Transcorp Hotels Calabar. Transcorp Hotels also owns Aura by Transcorp Hotels, an online platform for booking homes, hotels and experiences.
About Transcorp Hotels
Transcorp Hotels Plc is one of Africa’s leading hospitality brands, committed to redefining hospitality in Africa through innovation and exceptional service. The company is the hospitality subsidiary of Transnational Corporation, one of Nigeria’s largest conglomerates. Its brands include Transcorp Hilton Abuja, Transcorp Hotels Calabar, and Aura by Transcorp Hotels.
Visit transcorphotels.com for more information.
Business
Nigeria’s GDP rate grew by 3.46% in Q3 2024, says NBS
The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) grew by 3.46 percent in the third quarter (Q3) of 2024.
The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.
Business
Dangote refinery reduces ex-depot price of petrol to N970 for oil marketers
The Dangote Petroleum Refinery has announced a reduction in its ex-depot price of premium motor spirit (PMS), also known as petrol, to N970 per litre for oil marketers.
This is a cut from the refinery’s N990 ex-depot price announced earlier this month, according to a statement on Sunday.
The slash would help marketers save about N20 on each litre of petrol bought from the Lekki-based plant.
Anthony Chiejina, Dangote Group’s chief branding and communications officer, said the move is the refinery’s way of appreciating Nigerians “for their unwavering support in making the refinery a dream come true”.
“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement reads.
“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.
“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”
Business
Allegation of missing fund untrue, says Access Bank
Access Bank Limited has dismissed as untrue allegations of missing fund and unethical behaviour.
The Bank in a statement said: “Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behaviour have been made against Access Bank PLC.
“First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behaviour.
“In the instant case, the allegations of missing funds in the Bank are most untrue and baseless.
“There is no N500million or any other fund or amount missing from the subject customer’s account or from any other customer’s account with us.
“We and other independent stakeholders in the banking industry have thoroughly investigated these allegations and independently arrived at the same conclusions.
“Access Bank PLC operates with the highest ethical standards, and we protect our customers’ interests whilst also respecting privacy laws.
“Consequently, whilst we have engaged and will continue to engage with our customers, we must advise the public not to rely on or believe sensational and unverified claims that are designed to titillate and mislead the public.
“We remain committed to serving our customers.”
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