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Transcorp Group Announces Significant New Executive and Non-Executive Board Appointments

Transnational Corporation of Nigeria Plc (Transcorp) has announced significant appointments to its Board and Executive Management.

Owen Omogiafo
Transcorp is Nigeria’s leading listed industrial holding company, whose interests include Transcorp Power, Nigeria’s largest power generator, Transcorp Hotels, owner of the iconic Transcorp Hilton, and significant upstream oil and gas assets.
Owen Omogiafo has been appointed as President/GCEO of Transnational Corporation of Nigeria Plc, with effect from March 25, 2020.
She succeeds Valentine Ozigbo, who is retiring to pursue a career in public service, having served Transcorp for close to a decade.
Owen is currently the MD/CEO of Transcorp Hotels Plc and has over two decades of corporate experience in organisational development, human capital management, banking, change management and hospitality.
She holds a B.Sc. in Sociology & Anthropology from the University of Benin, an M.Sc. in Human Resource Management from the London School of Economics and Political Science and is an alumnus of the Lagos Business School and IESE Business School, Spain.
She is also a member of the Chartered Institute of Personnel and Development, UK and a Certified Change Manager with the Prosci Institute, USA.
She has received multiple awards and been named as one of Africa’s top 100 Female CEOs.
Dupe Olusola has been appointed as the MD/CEO of Transcorp Hotels Plc, effective from March 25, 2020.
She is currently the Group Head, Marketing at United Bank for Africa Plc. She has over 21 years of corporate experience including MD/CEO of Teragro Juice Concentrate Plant.
She holds a BA in Economics from the University of Leicester and a Masters in Development Economics from the University of Kent.
She is a certified Project Manager, with qualifications in PMP and Prince 2.
She has received numerous awards and was named by the Ventures Africa’s as one of the 10 Most Influential Nigerian CEOs of 2015.

Helen Iwuchukwu
The Board of Transcorp Hotels Plc has also approved the appointment of Helen Iwuchukwu as an Executive Director/Chief Operating Officer of the company.
She is currently the Group Company Secretary of Transcorp Plc. She holds an LL. B. (Hons) degree in Law and was enrolled as a Solicitor and Advocate of the Supreme Court of Nigeria in 1993 (BL Hons) and holds a Master of Laws degree (LL. M.) from Middlesex University Business School, London.
Helen is a member of the Nigerian Bar Association, with over 25 years in legal advisory, corporate law, corporate governance, administration, human capital management and government relationship management.

Christopher Ezeafulukwe
Christopher Ezeafulukwe has been appointed as the MD/CEO of Transcorp Power Plant, Ughelli and was the Executive Director, Business Development & Legal, Transcorp Plc.
He has over 21 years’ experience in business development, legal advisory and company secretarial roles.
He holds an LL.B from the University of Lagos, a B.L from the Nigerian Law School, an LL.M from the University of Lagos and further LL.M in Energy, Environmental & Natural Resources Law from the University of Houston, Texas.
He is a member of the Nigerian Bar Association, the Institute of Chartered Secretaries & Administrators of Nigeria, the Association of International Petroleum Negotiators and was a member of the Executive Council of Association of Power Generation Companies of Nigeria.

Okaima Ohizua
The Board of Transcorp Power Ltd has also approved the appointment of Okaima Ohizua as Executive Director/Chief Operating Officer of Transcorp Power Ltd. She is currently Executive Director, Customer Services at Transcorp Hotels Plc.
She has over 25 years working experience and has been key to the continued service transformation at Transcorp Hilton Hotel, since joining the Board and Management in 2013.
A graduate of law from the University of Benin and the Nigerian Law School, Okaima also holds an Advanced Management Program certificate from the Pan-African University – Lagos Business School.
The Board of Transcorp Plc also announced the appointment of Valentine Ozigbo as a Non-Executive Director, following his resignation as MD/CEO of Transcorp Plc.

Tony O. Elumelu
Speaking on these appointments, Tony O. Elumelu, chairman, Transcorp Group and Heirs Holdings, Tony O. Elumelu, expressed his confidence that the newly appointed chief executives and non-executive directors will further, strengthen Transcorp’s mission of improving lives across Nigeria.
“These appointments demonstrate our commitment to nurturing talent and rewarding success. We have a deep pool of highly qualified and dedicated employees, who can be challenged with more responsibility in attaining our corporate vision. We remain committed to diversity and inclusion; are delighted by the depth and quality of experience that this leadership team brings to our group. These appointments further indicate our internal succession capacity and strong corporate governance practices”.
Mr. Elumelu thanked Valentine Ozigbo for his achievements as CEO. He highlighted that the Board of Transcorp will continue to implement its defined strategy, which has led its investee companies being leaders in their chosen sectors and has seen significant transformation, since Mr Elumelu’s holding company, Heirs Holdings invested in 2011.
News
RMRDC Urges Investors to Patronise Research Outputs, Embrace Domestic Resource Based Manufacturing

The Raw Material Research and Development Council (RMRDC) is wooing Nigerian investors to patronise its research outputs by embracing domestic resource based manufacturing that would end Nigeria’s industrial dependency.
The RMRDC made at the Nigeria Manufacturing and Equipment/Nigerian Raw Materials (NME/NIRAM) Expo 2025 through its Director Agricultural and Agro Allied Raw Materials Department, Raw Material Research and Development Council (RMRDC), Dr. Sab C. Ebiriekwe, and the Managing Director of Jola Global Industries Limited, Dr. Moses Omojola, who was formerly a director with RMRDC.
They pointed out that the Nigerian manufacturing sector is relying on importation for over 75 per cent of its industrial inputs while about 80 per cent of manufacturing firms in Nigeria are owned by foreigners.
Ebiriekwe said in his presentation titled “Harnessing Local Resources: Enhancing Value Addition Through Innovation in Raw Material Sourcing” that Nigeria is grappling with industrial dependency despite being endowed with vast natural resources, adding that no country industrialises sustainably without local raw material transformation through innovation.
He said that despite the abundance of local raw materials, only 35 per cent of local manufacturers in Nigeria could rely on steady access to local raw materials.
He added that a gap exists between research outcome and practical application as “only 5.0 per cent of research outputs reach commercialisation.”
According to him, Nigeria’s failure to beneficiate and industrialise its raw material is hindering its bid for economic diversification, jobs creation and export competitiveness.
“As value of industrial raw material imported in 2023 was N2.41 trillion; share of imported manufacturing inputs are over 75 per cent and non-oil export is dominated by unprocessed raw/agro products.”
Omojola, who retired as a director with RMRDC, said during the panel session that about 80 per cent of industries in Nigeria are owned by foreigners, especially Asians.
He asked: “How come Nigerians are going into manufacturing? I have lectured in the university and have worked in RMRDC for 25 years but I told myself that it will be disservice to leave RMRDC without taking home one project. And to the glory of God I am today a manufacturer in Ekiti State.”
According to him, manufacturing “is very stressful but more rewarding,” which is the reason Asians are coming to Nigeria? “When I ask my Asian friends why they are in Nigeria they will reply that Nigeria is good. And now that I have started manufacturing, I have known that Nigeria is good,” he said.
Omojola also challenged politicians to invest the money they have made from politics into manufacturing in order to create more jobs in the economy.
“We should be going into resource based industry. I produce vegetable oil. Today, Indonesia and Malaysia cannot bring in vegetable oil into Nigeria because our own price is cheaper than their own. Therefore, no imported vegetable oil can compete with us,” he said.
The Founder of AfricanFarmer Discovery Hub, Mr. AfricanFarmer Mogaji, said that chemical extracted from water leaf had been used to coat mugs by Oluwa Glass in Ondo State.
“That was innovation. But unfortunately, it was not scaled. In Ibadan, the shell of the cashew nut had been used in making brake pads. We can revisit these innovations at Small and Medium Enterprises (SMEs) level,” Mogaji said.
He also urged retire military generals to invest in manufacturing like their counterparts in Malaysia that funded Malaysia’s turn around.
However, the Managing Director of Spectra Industries Limited, Mr. Duro Kuteyi, said that absence of government’s policies that could protect the SMEs is one of the reasons Nigerians are not going into manufacturing.
Kuteyi said: “Unless government will come up with policy the way India is protecting its products and SMEs, it will take time for us to grow.
“I started using Nigerian raw materials to make products like natural cocoa powder that is good for diabetics, hypertension, etc. We also use soya as one of our basic raw materials.
“But as it is currently, SMEs are finding it difficult in the market place where they are competing with multinationals that are ready to kill them and kill them totally.
“A multinationals firm went to the market and offered generators to my customers to stop dealing on my products.”
The Managing Director of FACCO West Africa, Mr. Femi Adelayo, said that wealthy Nigerians should be encouraged to embrace manufacturing rather than buying houses in Dubai.
Adelayo also said that manufacturers should be supported with a holistic robust policy to ensure their survival and enable Nigeria to withstand the emerging global trade dynamics that is being characterised by punitive tariffs.
He appealed to the RMRDC to help his livestock feed manufacturing firm with raw materials that could substitute for maize and soya. He said: “We work in the feed mill industry where we produce livestock feeds. But maize and soya are major challenges. We will like RMRDC to help us to have alternative protein production.”
News
Zinox Chairman Leo Stan Ekeh Donates State-of-the-Art Tech Experience Centre to Federal University Birnin Kebbi

Federal University Birnin Kebbi (FUB) received a significant boost in its quest to produce globally competitive graduates, following the donation of a multimillion-naira Tech Experience Centre by the Leo Stan Ekeh Foundation (LSEF).
The facility, donated by Mr. Leo Stan Ekeh, Chairman of Zinox Group and Founder of LSEF, was commissioned on his behalf by the President of the Nigeria Computer Society (NCS), Dr. Muhammad Sirajo Aliyu, FNCS.
The centre is equipped with the latest Zinox computers, powered by the iPower renewable energy suite, which features high-performance solar panels and certified lithium batteries. It is also connected to a 24-hour, non-disruptive satellite internet service powered by Starlink, a service that the LSEF has committed to funding for the next five years.
According to Mr. Ekeh, the Tech Experience Centre is dedicated to the use of students and knowledge workers at FUB, with the aim of equipping them with the digital skills and resources required to compete with their peers globally and contribute meaningfully to Nigeria’s economic development.
This centre is one of several cutting-edge technology hubs donated by the Leo Stan Ekeh Foundation to tertiary institutions across Nigeria. It supports the Federal Government’s vision to upgrade the nation’s higher institutions to world-class standards.
For over 25 years, Mr. Ekeh and the Zinox Group have consistently invested in promoting digital education by donating tech laboratories and innovation hubs. In recent years, the Foundation has delivered and equipped centres at St. Augustine University, Lagos, and Imo State University and refurbished older facilities it had donated in the past. According to Mr. Ekeh, the next phase will see the Foundation extend similar interventions to secondary schools across the country.
He called on politicians, government agencies, and wealthy Nigerians to intentionally invest in the nation’s education sector, stressing that a well-educated populace is the Foundation for national development.
Mr. Ekeh expressed his appreciation to the Chairman of the University Council, the council members, Vice Chancellor Professor Muhammad Zaiyan Umar, members of the University Management, staff, and students of FUB, as well as the Honourable Minister of Education, Dr. Tunji Alausa, for their support in accommodating the LSEF’s vision.
Speaking on behalf of the university, Professor Muhammad Zaiyan Umar, Vice Chancellor of FUB, expressed deep appreciation to Mr. Ekeh and the LSEF for the generous donation.
“This Tech Experience Centre will make a remarkable difference in the academic and research output of our students and staff. We are grateful for Mr. Ekeh’s vision, generosity, and long-standing contributions to this institution and to digital education in Nigeria. This facility is more than a building with computers; it is an investment in the future of our graduates and the growth of our nation.”
Speaking on the sidelines of the commissioning, Mr. Chimezie Orisakwe, Head of Corporate Communications for the Zinox Group, highlighted Mr. Ekeh’s sustained promotion of digital learning across Nigeria — from interventions in the media sector to landmark projects with the media, Independent National Electoral Commission (INEC), the National Population Commission (NPC), and others.
He also highlighted Mr. Ekeh’s reflection on the current state of Nigeria’s education sector, warning that many institutions, both public and private, face severe funding deficits. This, he noted, raises the risk of closures, which would deprive graduates of the enduring legacy of their alma maters.
To address these challenges, the Zinox Chairman proposed that the Federal Government adopt a college system and reclassify existing universities. He recommended granting approvals for specialized professional colleges affiliated with reputable universities, similar to the Lagos University Teaching Hospital (LUTH) model with the University of Lagos.
Ekeh emphasized that the quality of an institution’s academic content now matters more than its physical size. Those passionate about establishing tertiary institutions must be focused on their core mission, be willing to invest adequately, and possess the mental and financial capacity to sustain standards.
He further urged that educational institutions be regulated even more stringently than banks, given their central role in producing the human capital that drives both the public and private sectors.
“Educational institutions are not limited liability companies that can be liquidated at will. Their true profit is not in short-term returns but in the quality of graduates they produce, men and women who can lead this nation and give back to the institutions that shaped them,” Ekeh stated.
The donation to FUB is the latest in a long list of interventions by the Zinox Group to support Nigeria’s technological advancement. Through the Leo Stan Ekeh Foundation, the Group has also funded thousands of scholarships, donated modern digital learning facilities nationwide, extended non-interest loans to budding entrepreneurs, and supported churches, hospitals, and humanitarian causes.
News
No More Leaks: FIRS Slaps ₦5m Fine on Info Disclosure

Nigeria Revenue Service (NRS) Act has introduced strict penalties for the unauthorised disclosure of confidential information and documents by its staff, with offenders facing fines of up to N5 million, imprisonment for up to three years, or both.
The NRS Act is one of four bills recently signed into law by President Bola Tinubu, alongside the Nigeria Tax (Fair Taxation) Law, the Nigeria Tax Administration Law, and the Joint Revenue Board (Establishment) Law. The regulations will take effect on January 1, 2026.
In Part VI of the NRS Act, covering miscellaneous provisions, the law designates all internal records—including institutional information, memoranda, and communications—as confidential.
“Without prejudice to the provisions of any other Act concerning data privacy or data protection, institutional information or communication, all internal information, communications, documents or memoranda of the Service are confidential,” the law states.
It further warns that, “Except as otherwise provided under this Act, any other law or any enabling agreement or arrangement or as otherwise authorised by the Executive Chairman or management of the Service, any person who discloses or attempts to disclose institutional information, communication, document or memorandum of the Service is liable on conviction to a fine not exceeding N5,000,000 or imprisonment for a term not exceeding three years or both.”
The provision applies to all officials and individuals involved in the administration of the Act. The NRS also specified that business records, tax returns, notices, assessments, and documents relating to a person’s assets, liabilities, or profits must be “treated as secret.”
Exceptions to the confidentiality rule include disclosures authorised by the service, those mandated by court order, or situations where the information is needed for the enforcement of Nigeria’s tax laws.
The development follows a February 20, 2024, warning from the federal government cautioning civil servants in ministries, departments, and agencies (MDAs) against leaking sensitive documents to the public.
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