Transcorp Hotels’ board director, Alexander Adeyemi, quits

Alexander Adeyemi has quit his board director role at Transcorp Hotels Plc, five years after he was appointed as a Non-Executive Director.

Due to undisclosed reasons, Adeyemi exited the company and was replaced by Udechukwu Obi Osakwe on Friday, a corporate document obtained by Ripples Nigeria, dated February 16, 2023, revealed.

Prior to joining the board in 2019, Adeyemi was the Director, Revenue and Investment at the Office of the Accountant-General of the Federation.

Ripples Nigeria gathered that Adeyemi held N6.84 billion worth of indirect shares (on behalf of the Ministry of Finance Incorporated) in Transcorp Hotels, as of the end of 2021. The company is yet to update the market on its board shareholders for 2022.”

Read also:Access, Transcorp among active entities as investors trade N2.16bn worth of shares

Before his exit from the board, Adeyemi was not involved in the day-to-day management of Transcorp Hotels, however, he was involved in the policymaking and planning exercises.

Meanwhile, Osakwe joined Transcorp Hotels’ board as a Non-Executive Director and will also act in a similar capacity, considering his Non-Executive role.

Osakwe also worked at the Office of the Accountant-General of the Federation, and his career spans across World Bank, the African Development Bank Group (AfDB), the Global Fund and the GAVI.

“Mr. Udechukwu Obi Osakwe has over thirty (30) years of private and public sector professional experience covering management consultancy, oversight of financial management operations, with the Federal Ministry of Finance, the Federal Ministry of Health Nigeria, before he joined the Office of the Accountant-General of the Federation (Treasury House) Abuja,” the corporate document reads.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now