Tony Elumelu Commends Femi Otedola’s Investment in Transcorp

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Tony Elumelu Commends Femi Otedola's Investment in Transcorp
Tony Elumelu


Transnational Corporation Plc (Transcorp) Group Chairman, Tony Elumelu, recently shared his excitement about working with Nigerian billionaire businessman, Femi Otedola, who acquired a 5.52% stake in Transcorp Plc to become the company’s second-largest shareholder. Speaking during an interview with Arise TV on Wednesday, Elumelu commended Otedola’s investment in the conglomerate and welcomed him to the team.

Elumelu expressed his admiration for Otedola and their close friendship, stating that he only follows two people on Instagram – his wife and Femi Otedola. He referred to Otedola as his “brother” and even gave him a nickname, “FO” or “Ote-Dollar.” He said that he was happy to see an active indigenous investors’ community and commended Otedola for investing locally. Elumelu also mentioned that the more people show interest in the company’s activities and performance, the better it is for shareholders.

According to Elumelu, Transcorp has consistently paid dividends in the last five years under his leadership, and there has been capital appreciation for the company. He attributed this success to the management team’s vision, leadership, and competence. Elumelu expressed his delight that more people are investing in the company, as it is a validation of their story and vision. He also revealed that he looks forward to working with Otedola to take Transcorp to even greater heights.

In conclusion, it is clear that Elumelu welcomes Otedola’s investment in Transcorp and is excited about working with him. The close friendship and admiration that they share bode well for the company’s future, and Elumelu’s confidence in the management team’s vision and leadership is reassuring for shareholders.

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