If adversity is the mother of invention then perhaps accountablity can be the mother of innovation. We don’t want the bag we want to bring it home.īeyond the parallel of having stuff we don’t need we have a wasteful system that offloads the trash that stuff comes in/becomes to anyone that’s not the business that made it. We don’t want the packaging we want the food. To me this stems from the old Napster axiom “We don’t want the CD, we want the music”. We just don’t seem to have a reusable bag when we need it, because most people don’t just carry one around. What do we have now? Drawers and cabinets crammed with reusable bags. In Canada plastic bags are no longer available, replaced by re-usable bags. I don’t know if it’s due to decades of consumerism or a hunter-gatherer evolutionary carry over: but we love to horde “stuff”. #management #people #investment #powerplant #bank #hotels #nigeria #shareholders #coup #stockexchange Will he change the management of Transcorp and bring in his guys, time will tell. Otherwise, they conspire.ĭo people think Femi can turn the fortunes of Transcorp around, yes, they do. One lesson to be learned is that shareholders and investors always want a return on investment if you must remain their darling. People familiar with the move that I spoke with believe that Femi has demonstrated the ability to create value with Geregu Power, one of the fastest-growing power-generating companies and his influence has made a significant impact in Nigeria’s oldest bank, First Bank of Nigeria since he became the largest shareholder in 2021.
In what seems to be dissatisfaction from shareholders who have seen a substantial decline in their investments over the past decade, Femi Otedola through his investment company bought shares of Transacorp worth 3.1 billion Naira which gave him a 5.52 percent stake in Transacorp as against UBA nominees (Tony Elumelu) 5 percent shares. The shares of the company are floating which makes it easy for anyone to acquire shares without recourse to boardroom politics which in most cases is a tug-of-war in Nigeria. Transcorp owns a power plant in Afam, an OML oil block both in Rivers State, and Transcorp Hotels in Abuja and Lagos.
Elumelu, C.F.R as the majority shareholder before yesterday. Transcorp is a publicly traded diversified conglomerate in Nigeria with Tony O.
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