Elumelu Emerges Transcorp Board Chairman

The Chairman of  Heir Holdings and former Group Managing Director  of United Bank for Africa (UBA) Plc,has emerged  as chairman, board of  directors of  Transnational Corporation of Nigeria(Transcorp),Abuja.

Shareholders at the  5th Annual General Meeting of the company praised the  appointment of  Mr.Tony Elumelu.
Elumelu, succeeded  Mrs Ndi Okereke Onyiuke, who retired  from the board.
According to  the shareholders, the coming of  Elumelu would  herald a new begininig  for the company, considering the exemplary   feats  he recorded during his  time as group managing director  of United Bank for Africa (UBA) Plc.

Elumelu joined  the board of the Transcorp  in April 2011, following  the strategic buy-in of  HH Capital,an investment arm of  Heirs Holdings into Transcorp.
Speaking after the meeting, Elumelu assured  stakeholders that the future  of Transcorp  remained bright as it has  concluded  plans  to diversify.
He further hinted that  a seven star  hotel  named Transcorp Hilton, Ikoyi would soon  be built in Lagos State.
 

We have investors’ friendly environment and where we are lacking, we want to share your experiences and your input to make it better.”
 On the issue of diversification of UNTL into the cement sector, and the request for certain incentives,   such as equipment import duty free status to be granted the company, the minister assured that the ministry would look into their request based on the fact that federal government has been promoting backward integration policy in the country.