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Transcorp commemorates N10bn rights issue listing

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Transcorp Hotels Plc has commemorated the listing of its Rights Issue of 2,642,124,511 additional Ordinary Shares valued at N10 Billion on the floor of The Nigerian Stock Exchange.

The listing was commemorated with a digital Closing Gong ceremony at the NSE where the Managing Director/Chief Executive Officer, Transcorp Hotels, Mrs Dupe Olushola, had the honour of bringing the day’s trading to a close.

Speaking at the ceremony, the Chief Executive Officer, NSE, Mr Oscar Onyema, stated, “On behalf of the National Council and Management of the Exchange, I congratulate the board and management of Transcorp Hotels Plc for their laudable commitment towards the sustained growth of this reputable brand.

“Transcorp Hotels Plc’s successful capital raise with a Rights Issue of 2,642,124,511 additional Ordinary Shares which was 99.3 per cent subscribed despite the prevailing macro-economic challenges is highly commendable.

“At The Exchange, we remain committed to providing issuers with a platform that allows them to meet their strategic business objectives and it is our delight to see listed companies take full advantage of the NSE’s products and services to support their growth trajectory.”

Olusola, on the hand, said, “I express my deep appreciation to the NSE, other regulators, market operators and of course, our shareholders for their support in the successful completion of our N10bn Rights Issue and listing of 2.64bn ordinary shares.

“The past year has been a challenging one given the impact of the COVID-19 pandemic on the hospitality sector, and that Transcorp Hotels has not only survived but is firmly on the road to recovery is a testament of the efficacy of our initiatives and we thank you for your belief in us. Moving forward, we are optimistic about 2021 and we have begun the year in a strong position.

“We will continue to deepen our share and expand our market leveraging best in class technology and providing the highest service standard across our locations.”

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Viral list of ex-govs under investigation over alleged corruption false, misleading – EFCC

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The Economic and Financial Crimes Commission, EFCC has refuted a purported list of former governors under investigation for alleged corruption, which has now gone viral.

There were reports in the media that 58 former governors were under the investigation of the anti-graft agency over alleged corruption.

The former governors, according to reports, were accused of misappropriating N2.187 trillion over 25 years.

The 58 former governors were being probed, while others have been investigated, and prosecuted.

Reacting to the development, the EFCC spokesman, Dele Oyewale, in a statement on Sunday, described the reports as false and misleading.

He said, “the so-called list is a disingenuous fabrication designed to achieve motives known only to the authors.

“The Economic and Financial Crimes Commission, EFCC, feels obliged to dissociate itself from a phantom report circulating in sections of the media claiming it has released a full list of ex- governors being investigated for alleged corruption.

“The report headlined: “EFCC Releases Full List of 58 Ex- Governors that Embezzled N2 .187 Trillion”, in one of the news outlets, is false and mischievous as the Commission neither issued the said list nor entertained discussions on investigation of ex-governors with any news medium.”

The anti-graft agency, however, urged the public to disregard the report, saying “it is false and misleading.”

It also urged media practitioners to crosscheck facts about matters under investigation with the Commission to avoid misleading the public with false and inaccurate reports.

Recall that the EFCC has been probing some former governors over allegations of corruption and misappropriation of public funds.

The anti-graft agency is probing former Governor, Yahaya Bello of Kogi State.

He has been arraigned on 19 counts bordering on alleged money laundering, breach of trust, and misappropriation of funds to the tune of N80.2 billion.

According to the EFCC, the embattled ex-governor withdrew $720,000 from the state’s accounts to pay his child’s school fees in advance just before he left office on January 27, 2024.

The EFCC said Bello moved the money from the state coffers to a Bureau de Change operator, and used the money for his child’s school fee in advance.

 

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Dangote University explains how female student died in her off-campus apartment

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Tragedy struck on Thursday at the Aliko Dangote University of Science and Technology, Wudil, Kano State, when a female student, Aishat Yahaya Olabisi, was found dead in her off-campus apartment.

Olabisi, a 300-level female student of Food and Science Technology, was said to have been found dead after she returned to her room from the school.

The deceased student was said to have written her first examination in the ongoing first-semester examination at the university on the fateful day.

One of the male students who spoke to PUNCH Online on condition of anonymity on Saturday blamed her sudden passing away on examination pressure.

“The deceased was hale and hearty before she went out to write her first examination in the ongoing first-semester examination,” the student said.

However, following reports in the media that the female student died in the university students’ hostel, the Management of the university clarified the misinformation.

In a statement by the Dean, Students Affairs of the university, Prof. Abdulkadir Dambazau, dated 3rd May 2024, refuted the media claims.

The statement titled “Clarification Regarding False Statement About Student’s Death” read, “It has come to our attention that a recent statement made by DLC Hausa and some media outlets regarding the discovery of a student’s corpse at the students’ hall of residence is entirely false. We wish to address this matter promptly and unequivocally refute these claims.

“On 23 April 2024, we received news about the untimely passing of Yahaya Aishat Olabisi, a diligent and bright student of ADUSTECH Wudil. Aishat spent her last evening engrossed in her studies, diligently preparing for upcoming examinations. The following morning after a shared breakfast with her roommate and a heartfelt conversation with her father, she expressed her intent to rest briefly before resuming her studies. However, destiny had a different plan.

“In the early afternoon of the same day, concerns arose when Yahaya Aishat Olabisi did not respond to attempts to reach her. Upon investigation, it was discovered that she had passed away in her sleep in her off-campus residence. Immediate measures were taken, and she was swiftly taken to the university clinic, where her passing was confirmed by medical professionals.”

The statement added that Olabisi’s remains had been transferred to the Aminu Kano Teaching Hospital for postmortem analysis.

“Given the circumstances, her remains were transferred to Aminu Kano Teaching Hospital for postmortem analysis to ascertain the cause of her sudden demise. Meanwhile, her grieving parents, who hail from Ilorin arrived the following day to bid farewell to their beloved daughter.

“In honouring her memory and bidding her farewell, Aishat was laid to rest on 24 April 2024, surrounded by family, friends, and members of the academic community who mourned her loss deeply,” the statement added.

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Court Sentence FCMB Branch Manager to 121 years in Prison for embezzling Customers Funds

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FCMB is a leading financial institution in Nigeria has received a big shock of the year as one of its staff has been thrown to prison for fraud and embezzlement.

Justice S. Odili at the Anambra State High Court in Onitsha, Anambra State, sentenced Mr Nwachukwu Placidus, a bank manager at First City Monument Bank FCMB, Onitsha Anambra State to 121 years in prison for embezzling N112 million from a customer’s fixed deposit account.

The Honorable justices delivered the verdict resulting in the conviction and sentencing of a former manager at the First City Monument Bank’s branch in Onitsha, who has now been sentenced to a total of 121 years in prison for misappropriating fixed deposit funds totaling N112,100,000 from a customer for personal use. This is tantamount to a breach of trust by the former manager which has attracted a huge jail term.

 

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