News
Transcorp Hotels Increases Profit by 172Per Cent

Transcorp Hotels Plc, the hospitality subsidiary of Transcorp Group has reported a profit before tax (PBT) of N4.5 billion, representing a 172 percent rise year-on-year, compared to a Profit Before Tax of N1.7 billion in 2021.

The Company also reported a 47 percent growth in revenue to N31.4 billion in 2022.
The leading hospitality brand made this known at its 9th Annual General Meeting held at Transcorp Hilton Abuja on Monday.
Commenting on the results, Dupe Olusola, Managing Director/CEO Transcorp Hotels Plc said, “We are excited to have delivered another exceptional year of revenue growth with a 47 per cent increase to N32 billion in 2022 from the N21.7 billion recorded in 2021. The full-fledged return of our International Business Travel segment and the continued strong leisure demand contributed immensely to this performance”.
“The excellent financial performance we achieved in 2022, despite adverse economic conditions, is as a result of the detailed execution of our strategy, our out of the box approach, our nimbleness and unswerving commitment to delivering value to all our stakeholders.”
Emmanuel Nnorom, chairman of the Board of Directors, announced a total dividend payment of N1.33 billion at 13 kobo per share, stating that the Company closed the 2022 financial year strongly.
“Our continued focus on strategic financial management remained beneficial, as we exercised firm discipline in capital allocation, making swift investment decisions and capturing all economic upsides, “Nnorom added.
He stated that the company would continue to drive key investments in innovation and cost efficiency, “including hospitality tech to improve our competitive advantage in the industry through sustainable and cost-effective strategies”.
“In staying true to our key strategic thrust of sweating our existing assets to support business expansion, we will continue to deepen our market share, while maintaining the highest service standards in line with our mission,” the Transcorp Hotels Chairman said.
The Shareholders at the meeting commended the management of Transcorp Hotels Plc for the superlative performance recorded in 2022, while also appreciating the myriad of awards in 2022 as testament to its leadership and quality of its offerings as the leading Africa’s hospitality provider.
The Nigerian Exchange Group (NGX)-listed hospitality brand has continued to reinforce its position as a leader in the industry, winning 16 awards in 2022, including five World Travel Awards won by Transcorp Hilton Abuja and the most Outstanding hospitality brand of the year won by Transcorp Hotels Plc.
The Company has continued to strengthen its business and invest for the future through strategic expansion. It is developing a world-class event center at the Transcorp Hilton premises in Abuja. Another development, Transcorp Hilton Ikoyi, is expected to commence in Lagos soon.
The company has continued to expand in Nigeria through its online booking platform Aura by Transcorp Hotels, with over 5,000 keys now in Transcorp Hotels’ portfolio, both in ownership and management.
Transcorp Hotels Plc. is one of Africa’s leading hospitality companies, committed to redefining hospitality standards. Transcorp Hotels is the hospitality subsidiary of Transnational Corporation Plc (Transcorp). The Company’s hotels include the award-winning Transcorp Hilton Abuja and Transcorp Hotels Calabar. It also owns Aura, an online platform for booking accommodation, food and memorable lifestyle experiences.
News
FG to Use Digital Economy Initiatives to Curb Corruption Among Youth

Lateef Fagbemi (SAN), the Attorney-General of the Federation and Minister of Justice, has said that Federal Government is intensifying its use of digital-economy initiatives to curb corruption among young Nigerians.

Speaking at the commemoration of the 2025 International Anti-Corruption Day held on Tuesday in Abuja, the AGF said the administration of President Bola Ahmed Tinubu has deliberately positioned technology, innovation training, and digital-skills development at the heart of its anti-corruption strategy for young people.
The event, organized by Technical Unit on Governance and Anti-Corruption Reforms (TUGAR) domiciled at the Nigeria Extractive Industries Transparency Initiative (NEITI) had the theme: “Uniting with Youth Against Corruption: Shaping Tomorrow’s Integrity”.
Fagbemi, who delivered the keynote address, said the government believes that empowered, skilled and economically engaged youths are less vulnerable to corrupt influences.
According to him, programmes such as the 3 Million Technical Talents Programme (3MTT) and the recently launched Nigerian Youth Academy (NiYA) are already equipping millions of young Nigerians with ICT and digital-innovation skills, reducing their dependence on patronage systems that fuel corrupt practices.
“A hopeful youth is harder to corrupt; an engaged youth is harder to mislead; and an empowered youth is a powerful force for national transformation,” Fagbemi said.
He explained that by investing in digital literacy, tech entrepreneurship and innovation-driven training, the Tinubu administration aims to create a generation of young Nigerians who are globally competitive and resistant to corruption.
Beyond digital skills, the AGF pointed at several government efforts to expand educational access through the Nigeria Education Loan Fund (NELFUND), and support youth entrepreneurship via the Nigeria Youth Investment Fund (NYIF) and the iDICE programme, providing funding, training and mentorship for young innovators in tech, entertainment, agriculture and design.
Fagbemi added that the inclusion of young people in governance, through appointments and expanded civic-engagement platforms, was another strategic tool to strengthen integrity and transparency in public life.
He urged stakeholders to deepen efforts to integrate anti-corruption values into school curricula, establish integrity clubs, mentor young leaders, and leverage ICT tools to promote transparency, whistleblowing and public accountability.
Earlier, the Head of TUGAR, Mrs Jane Onwumere said the gathering was especially meaningful because it reflected a shared truth: that tomorrow’s integrity rests significantly in the hands of the youth.
“The theme therefore, is not just a slogan but a call to action and a reminder that young people are not only beneficiaries of good governance, they are co-architects of it.
“Corruption has affected lives and the economy negatively in many ways. One of such is the “japa wave” which has seen young Nigerians leave the country in droves in search of greener pastures. This syndrome has drained the country of resources and human capital. It has in many situations split the family unit, a critical foundation for anti-corruption efforts”, Onwumere, added.
In his speech, the Executive Secretary, NEITI, Hon. Musa Sarkin Adar expressed the agency’s commitment to empowering young Nigerians not only as advocates for accountability but also as active partners in shaping the future of integrity in the extractive industries and beyond.
“At NEITI, we recognize that corruption undermines opportunities for growth, distorts resource governance, and deepens inequality. We also know that a united, informed, and courageous generation can dismantle these barriers.
“This is why NEITI will continue to expand civic education, strengthen our reporting mechanisms, support youth-led innovation, and create more platforms for constructive engagement with young professionals, students, and entrepreneurs”, he added.
News
SEC Seeks Freeze of CBEX Accounts Over N1.3tn Ponzi Scheme

Securities and Exchange Commission (SEC) has asked the Investments and Securities Tribunal to order the freezing of bank accounts belonging to Crypto Bridge Exchange (CBEX) and 25 other defendants accused of defrauding Nigerians of about ₦1.3 trillion through an unlawful digital asset investment scheme.

CBEX
The request was made during the first sitting of the 6th Tribunal in case IST/OA/02/2025 between the SEC and CBEX with 25 others, presided over by tribunal chairman, Hon. Aminu Jinaidu.
The SEC urged the tribunal to compel commercial banks and financial institutions nationwide to freeze all accounts linked to the defendants.
It also sought orders for the seizure of houses and assets allegedly acquired with funds sourced from unsuspecting investors.
According to the commission, CBEX operated illegally by posing as a digital assets platform and capital market operator without registration.
“CBEX is an unregistered platform promising its users 100 percent return on investments within 30 days, which is unlawful and contrary to Section 3(b) of the Investments and Securities Act 2025,” the SEC told the tribunal.
The regulator disclosed that international authorities had previously raised concerns about CBEX.
The Securities and Futures Commission of Hong Kong issued an advisory on April 23, 2024, warning that the platform was a suspicious virtual asset entity.
The tribunal noted that CBEX and the other defendants failed to appear in court and were not represented by legal counsel.
Hon. Jinaidu therefore ordered that hearing notices be served on the defendants through national newspapers.
CBEX reportedly entered the Nigerian market in July 2024, operating via a website and mobile application, while claiming to use advanced Artificial Intelligence to generate unusually high profits from cryptocurrency trading.
Investors were promised returns of up to 100 percent within a 40 to 45 day lock-in period.
The scheme later collapsed, triggering widespread losses. Investigations revealed that CBEX functioned as a Ponzi scheme that siphoned more than ₦1.3 trillion, estimated at about $800 million, before disappearing.
The matter has been adjourned to January 27, 2026.
News
Lagos Launches Tele-Vet, Nigeria’s First Veterinary Call Centre

The Lagos State Government, through the Ministry of Agriculture and Food Systems, has launched TELE-VET, Nigeria’s first Tele-Veterinary Call Centre, marking a groundbreaking milestone set to transform access to expert animal healthcare using mobile technology.

Speaking at the event held at the Lagos State Ministry of Agriculture and Food Systems, Animal Hospital, Oko-Oba, Agege, the state’s Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, described TELE-VET as a transformative initiative that strengthens animal health systems, improves food safety, and accelerates agricultural innovation across the state and beyond.
She stated that technology continues to redefine global food systems, and Lagos, under the leadership of Governor Babajide Olusola Sanwo-Olu, remains committed to deploying digital solutions that enhance efficiency, empower farmers, and safeguard public health. The Commissioner explained that TELE-VET addresses long-standing challenges faced by farmers and pet owners, especially limited access to timely and professional veterinary care.
Ms. Olusanya highlighted that TELE-VET builds on the existing mobile platforms, M-Agric and M-Health, available on MTN and Glo networks, which provide daily expert tips, mentorship, and animal-care guidance. By dialing *20791#, users can subscribe for ₦100/day, ₦300/week, or ₦500/month, gaining instant access to a variety of services, while all active subscribers can access the Call Centre free of charge.
She added that the Call Centre will deliver emergency support, first-aid guidance, disease-prevention information, and livestock and pet care assistance, noting that the platform helps farmers reduce costs, save time, and access expert care without traveling long distances. She emphasized that TELE-VET will also enhance surveillance and early detection of zoonotic diseases, aligning with the One World, One Health framework that integrates human, animal, and environmental health.
The Commissioner further mentioned that TELE-VET sets the stage for future innovations, including livestock and pet health insurance, e-commerce for veterinary products, improved mobility for safe animal transport, and enhanced financing opportunities for farmers, positioning Lagos as a national leader in technology-driven agricultural transformation.
Earlier, the Permanent Secretary, Ministry of Agriculture and Food Systems, Mr. Emmanuel Audu, commended the initiative as a groundbreaking intervention that will significantly improve service delivery within the State’s veterinary ecosystem. He stressed that TELE-VET responds to the evolving needs of farmers and pet owners who require swift and professional support to enhance productivity and ensure animal well-being.
Mr. Audu noted that the Ministry has invested extensively in strengthening the infrastructure, technical systems, and human resources needed to operate a world-class veterinary call centre. He stated that the service is a strategic investment in Lagos State’s food security architecture, enabling efficient livestock health management and timely response to potential disease outbreaks.
The Permanent Secretary explained that the Call Centre will minimize animal losses, improve farm management practices, and provide timely advisory services to farmers, aligning with the Ministry’s mandate to promote sustainable agricultural practices across all 57 LGAs and LCDAs. He praised the collaboration among veterinary professionals, ICT partners, and technical teams that made the initiative possible.
Mr. Audu reaffirmed the Ministry’s commitment to continuously upgrading the TELE-VET platform to accommodate innovations that improve efficiency and expand service offerings. He encouraged residents to adopt the platform fully, noting that its success depends on widespread participation.
In his remarks, the Director of Veterinary Services, Dr. Rasheed Macaulay, stated that the launch of TELE-VET marks a new era in veterinary care delivery in Lagos State. He explained that the platform provides a practical solution to challenges such as limited manpower, delayed emergency response, and difficulties reaching farmers in remote areas by connecting residents directly to certified experts.
Dr. Macaulay added that TELE-VET will strengthen disease surveillance and reporting across the State, aiding early detection of animal diseases and preventing zoonotic infections. With real-time consultations, improved documentation, and faster escalation processes, the platform will support frontline veterinarians and promote safer, healthier food systems for all Lagos residents.
General News2 days agoNiDCOM Launches Diaspora Startup Challenge to Boost Nigerian Talent
News2 days agoLagos Launches Tele-Vet, Nigeria’s First Veterinary Call Centre
E-Financial2 days agoCAC to Shut Down Unregistered PoS Operators by January 2026
Telecom2 days agoNigeria Lacks AI-Ready Data Centres, Trails in Capacity – Nnamani
Telecom2 days agoAnambra Leads Southeast in Digital Governance Under Soludo’s ICT Agenda
General News2 days agoOptimus AI LABS CEO Showcases AI Breakthroughs in Nigeria’s Financial Sector
General News2 days agoPromoPrint Rekindles Nigerian Resilience @ 25th Anniversary
E-Business1 day agoReport Reveals Half of 2025’s Compromised Passwords were Already Leaked


















