Our Operations Not Affected by Saturday’s Fire Incident—Transcorp

Transcorp Fire in Lagos

By Dipo Olowookere

The management of Transcorp Plc has assured its stakeholders, including shareholders, that the unfortunate fire incident of Saturday, October 26, 2019 did not in any way affect its operations.

The firm, in a statement signed by its Chief Executive Officer, Mr Valentine Ozigbo, on Saturday night, stated that no injury was sustained by any personnel.

It further said likewise, no vital documents were lost to the inferno, which the company said occurred at the building next to its headquarters in the Ikoyi area of Lagos State.

However, the statement noted that Transcorp suffered a limited damage to the adjoining part of the building, where the fire incident happened today.

“On Saturday 26th October 2019 there was a fire incident at the building next to our Headquarters located at 38 Glover Road, Ikoyi Lagos.

“We had limited damage to the adjoining parts of the building but there was no loss of vital documents. Equally, no injury was sustained by any personnel on ground,” the statement read in part.

In the statement, Transcorp said the situation has been brought under control with the assistance of the Lagos State Fire Service, Julius Berger and the UBA Fire Service.

“The Lagos State Fire Service, the UBA Fire Service and Julius Berger worked with our team to quell the situation,” the statement by the company’s head stated.

“We would like to assure our stakeholders that the fire incident has no impact on our operations,” the company said, thanking “our corporate associates for the concern and goodwill.”

Transcorp is a leading conglomerate in Nigeria focussed on acquiring and managing strategic businesses that create long term shareholder returns and socio-economic impact.

The company has business interests in four strategic sectors: Power, Energy, Hospitality and Agriculture. One of its flagship companies is the Transcorp Hilton Hotel in Abuja.

Others are Transcorp Hotels, Calabar; Teragro Commodities Limited, operator of Teragro Benfruit Plant – Nigeria’s first-of-its-kind juice concentrate plant; Transcorp Power Limited which acquired Ughelli Power Plc, owner of the 972MW Ughelli Power Plant and Transcorp Energy Limited, operator of OPL 281.

Transcorp is listed on the Nigerian Stock Exchange (NSE) with a current shareholder base of about 300,000 investors, the largest of which is Heirs Holdings Limited, a pan-African proprietary investment company.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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