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Transcorp Hotels Fulfils Post-privatisation Obligations



The National Council on Privatisation (NCP) at its meeting yesterday presented Transcorp Hotels Plc with a Certificate of Discharge, indicating the company has fulfilled all privatisation conditions attached to the sale of the hotel and will no longer be subject to any post-privatisation monitoring.

At a ceremony that took place at the Presidential Villa, the Vice President, Professor Yemi Osinbajo, SAN, who chairs the council, presented the certificate to Mr. Tony O. Elumelu CON, the Chairman of Transnational Corporation of Nigeria Plc (Transcorp), the core investor in the hotel.

Speaking at the event, Mr. Alex Okoh, the director-general, Bureau of Public Enterprises (BPE) stated that Transcorp excelled at achieving the KPIs established during the monitoring and evaluation of the asset.

He said: “The success achieved by the Hotel has evidently proven both the diligent process of implementing the privatisation programme on one hand and the commitment and professionalism of the Management Team of the Hotel on the other.’’

Commenting on this, the Chairman, Transcorp, Mr. Tony O. Elumelu, CON, receiving the discharge certificate said “Our group is known for business turn around and value creation and I support public-private partnership as a viable option for catalysing our economic development.’’

Also speaking on the discharge, the MD/CEO of Transcorp Hotels Plc, Owen Omogiafo said, “This is a significant milestone in the history of our company and a further demonstration of our long-term commitment to improving lives and transforming our nation.



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