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Senator Adeleke Declared Wanted!

Published

6 years ago

on

Senator Ademola Adeleke, the Peoples Democratic Party (PDP) governorship candidate in the Osun State governorship election coming up on Saturday has been declared wanted by the police.

The police stated that; “On 21st July 2017, the Osun State Police Intelligence Bureau (SIB) received and acted on an actionable intelligence about an ongoing examination malpractice involving Senator Ademola Adeleke and Sikiru Adeleke at OJO/Aro Community High School in Osun state.”

“When the Police operative arrived at the school, only Sikiru Adeleke was found seated for the examination while Senator Ademola Adeleke seat was vacant and was suspected to have escaped before the arrival of the Police operatives.”

“Further investigation revealed that both Senator Ademola Adeleke and his brother Sikiru Adeleke registered and were sitting for the National Examination Council Examination (NECO) 2017 as internal candidates impersonating students of the School at the ages of 57years and 42years respectively. This crime was facilitated by the principal of the school, and two other members of staff of the school for which they are under investigation and being charged to court.”

“The Principal of the school, Alhaji Aregbesola Mufutau, the staff responsible for registration, Mr Gbadamosi Thomas Ojo and a teacher Mr Dare Olutope were arrested on 21 July 2017. “Senator Ademola Adeleke was arrested on 27 July 2017 and Sikiru Adeleke was arrested on 8 August 2017.”

“Senator Ademola Adeleke made cautionary statement and admitted that he registered for the 2017 NECO examinations as an internal student in the said school but he didn’t sit for the examination. However, Police investigation revealed the following primafacial and culpability facts against Senator Ademola Adeleke and four (4) others.”

“Senator Ademola Adeleke made cautionary statement and admitted that he registered for the 2017 NECO examinations as an internal student in the said school and did not sit for the examination but have a result from NECO with Seven (7) Credit and One (1) Pass, a copy of which was obtained from NECO by the Police.”

“The Ojo/Aro 2017 NECO, SSCE school photo album (School’s copy), with Senator Ademola Adeleke and Sikiru Adeleke Photographs in school uniform in the said album. Senator Ademola Adeleke in the NECO 2017 Result obtained by the claimed that he was born on 12th June 1997 but in his statement to the Police, senator Ademola Adeleke wrote 13th May 1960 as his Date of Birth.”

“The photographs of both Senator Ademola Adeleke and Sikiru Adeleke appearing side by side in the photo album have no NECO stamps on them. Senator Ademola Adeleke and four others were arrested, investigated, granted bail and being charged to court.”

“Charges of Examination Malpractice, Criminal Conspiracy, Personation, Breach of Duty, Aiding and Abetting against Senator Ademola Adeleke (PDP Governorship Aspirant in the 22nd September, 2018 Gubernatorial Election in Osun State) and four (4) others namely; MR Sikiru Adeleke, Alhaji Aregbesola Mufutau (Principal of Ojo-Aro Community High School, Egbedore LGA, Osun State), Mr Gbadamosi Thomas Ojo (School Staff responsible for the registration of candidates for NECO), Mr Dare Olutope (School Teacher who facilitated the commission of the crime) have been filed at the Federal High Court, Abuja under the Examination Malpractice Act, CAP E15, 2004 today, Wednesday, 19th September, 2018.”

“Consequently, Senator Ademola Adeleke (PDP Governorship Aspirant in the 22nd September, 2018 Gubernatorial Election in Osun State) and four (4) others namely; MR Sikiru Adeleke, Alhaji Aregbesola Mufutau (Principal of Ojo-Aro Community High School, Egbedore LGA, Osun State), Mr Gbadamosi Thomas Ojo (School Staff responsible for the registration of candidates for NECO), Mr Dare Olutope (School Teacher who facilitated the commission of the crime) are hereby advised in their own interest to report to the Special Investigation Panel, Force Headquarters, Abuja immediately for arraignment in court.”

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News and Report

Transcorp Group delivers impressive Q1 2024 performance; sustains revenue growth of 173% and PBT of N45 billion

Published

3 hours ago

on

May 2, 2024

By

Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading, listed conglomerate with investment in the Power, Hospitality, and Energy sectors, has announced impressive Q1 financial results for the period ended March 31, 2024.

In its Q1 2024 unaudited results, Transcorp reported significant year-on-year growth, with revenue rising to N88.6 billion from N32.4 billion in 2023, representing a 173% increase.

The impressive results are largely driven by a remarkable 209% year-on-year revenue growth within the power business, highlighting significant strategic progress as part of Transcorp Group’s implementation of its integrated power strategy.

The hospitality business recorded a 68% year-on-year growth in revenue, driven by an increase in occupancy rate from 75% to 82% compared to the previous year.

The results show substantial growth across all financial indicators, reinforcing its market leadership and strategic positioning.

Highlight of Transcorp Group Results:

  • Q1 2024 Revenue was N88.6 billion, a significant increase of 173%, compared to Q1 2023.
  • Operating income increased by 479%, from N8.5 billion in Q1 2023 to N49.1 billion in Q1 2024.
  • Operating expenses saw an increase of 40% year on year to N8.2 billion in Q1 2024, reflecting the impact of inflation and cost of operations.
  • Net finance cost increased by 14% to N3.7 billion in 2024 from N3.2 billion in 2023 due to a slightly higher interest rate review in line with MPR.
  • Profit before tax from ordinary business of the Group  surged by 1110%, amounting to N34.7 billion in Q1 2024, compared to N2.9 billion in Q1 2023 in the same period last year.
  • Profit before tax inclusive of extra ordinary income was N45.7 billion in 2024 compared to N2.9 billion in 2023.
  • The Group recorded extra ordinary income of N11 billion during the period from the realised gain from the sale of shares.
  • Profit after Tax including the extra ordinary income improved 1832% year-on-year to N35.9 billion in Q1 2024, compared to N1.9 billion in Q1 2023 in the same period last year.
  • Earnings per share of the Group was N61.12k in Q1 2024, compared to N2.58k in Q1 2023.
  • On the balance sheet, total assets grew by 8.3%, from N530 billion in December 2023 to N574 billion in Q1 2024 due to the increase in operational activities.
  • Shareholders’ funds increased by 20% from N187billion in December 2023 to N224 billion at the end of Q1 2024 due to profit accreted to retained earnings.

In response to the results, Dr. Owen D. Omogiafo, President/Group Chief Executive Officer of Transcorp, commented, “Our Q1 2024 results demonstrates Transcorp Group’s resilience and commitment to excellence. Despite the challenges, we achieved growth across all major indices, focusing on operational efficiency at both our power plants, and maximising opportunities within our hospitality business, showing our ability to adapt and succeed in changing markets. We will continue to deliver sustainable growth, operational efficiency, and value for our shareholders.”

This robust achievement is a further demonstration of the Group’s strategic focus and effective execution. Transcorp is dedicated to its transformation agenda, emphasising sustained growth and a relentless pursuit of long-term value for shareholders.

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News and Report

Transcorp Group delivers impressive Q1 2024 performance; sustains revenue growth of 173% and PBT of N45 billion

Published

3 hours ago

on

May 2, 2024

By

Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading, listed conglomerate with investment in the Power, Hospitality, and Energy sectors, has announced impressive Q1 financial results for the period ended March 31, 2024.

In its Q1 2024 unaudited results, Transcorp reported significant year-on-year growth, with revenue rising to N88.6 billion from N32.4 billion in 2023, representing a 173% increase.

The impressive results are largely driven by a remarkable 209% year-on-year revenue growth within the power business, highlighting significant strategic progress as part of Transcorp Group’s implementation of its integrated power strategy.

The hospitality business recorded a 68% year-on-year growth in revenue, driven by an increase in occupancy rate from 75% to 82% compared to the previous year.

The results show substantial growth across all financial indicators, reinforcing its market leadership and strategic positioning.

Highlight of Transcorp Group Results:

  • Q1 2024 Revenue was N88.6 billion, a significant increase of 173%, compared to Q1 2023.
  • Operating income increased by 479%, from N8.5 billion in Q1 2023 to N49.1 billion in Q1 2024.
  • Operating expenses saw an increase of 40% year on year to N8.2 billion in Q1 2024, reflecting the impact of inflation and cost of operations.
  • Net finance cost increased by 14% to N3.7 billion in 2024 from N3.2 billion in 2023 due to a slightly higher interest rate review in line with MPR.
  • Profit before tax from ordinary business of the Group  surged by 1110%, amounting to N34.7 billion in Q1 2024, compared to N2.9 billion in Q1 2023 in the same period last year.
  • Profit before tax inclusive of extra ordinary income was N45.7 billion in 2024 compared to N2.9 billion in 2023.
  • The Group recorded extra ordinary income of N11 billion during the period from the realised gain from the sale of shares.
  • Profit after Tax including the extra ordinary income improved 1832% year-on-year to N35.9 billion in Q1 2024, compared to N1.9 billion in Q1 2023 in the same period last year.
  • Earnings per share of the Group was N61.12k in Q1 2024, compared to N2.58k in Q1 2023.
  • On the balance sheet, total assets grew by 8.3%, from N530 billion in December 2023 to N574 billion in Q1 2024 due to the increase in operational activities.
  • Shareholders’ funds increased by 20% from N187billion in December 2023 to N224 billion at the end of Q1 2024 due to profit accreted to retained earnings.

In response to the results, Dr. Owen D. Omogiafo, President/Group Chief Executive Officer of Transcorp, commented, “Our Q1 2024 results demonstrates Transcorp Group’s resilience and commitment to excellence. Despite the challenges, we achieved growth across all major indices, focusing on operational efficiency at both our power plants, and maximising opportunities within our hospitality business, showing our ability to adapt and succeed in changing markets. We will continue to deliver sustainable growth, operational efficiency, and value for our shareholders.”

This robust achievement is a further demonstration of the Group’s strategic focus and effective execution. Transcorp is dedicated to its transformation agenda, emphasising sustained growth and a relentless pursuit of long-term value for shareholders.

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News and Report

May Day: Glo salutes Nigerian workers  

Published

21 hours ago

on

May 1, 2024

By

 

Digital telecommunications solutions provider, Globacom, has saluted Nigerian workers as the country observes this year’s edition of the International Workers’ Day. The company enjoined them to rededicate themselves to excellence so as to take Nigeria to the next level.

 

In a solidarity message released on Tuesday, Globacom lauded the resilient spirit of workers in spite of present challenges. It urged them to use the opportunity of the Workers’ Day to reflect on how their contributions can build a better and more vibrant society.

 

“We salute Nigerian workers on this this day and commend them for the hard work, commitment, resourcefulness and industry which are essential for the growth of the economy of any nation”, Globacom said, and urged them not to rest on their oars.

 

The company noted that the story of Nigeria cannot be complete without the huge contributions of workers, both in the public and private sectors.

 

The International Labour Day is observed annually on May 1 to recognize the contributions of workers all over the world. It is also used to promote a fairer and more sustainable future for all by advocating for workers

’ rights.

 

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