Elumelu Explains $120m Investment in Transcorp Hotels, Assur

Elumelu Explains $120m Investment in Transcorp Hotels, Assures Shareholders of Better Days


By James Emejo
The Chairman, Transnational Corporation of Nigeria (Transcorp) Plc, Mr. Tony Elumelu, yesterday explained the company’s decision to commit over $120 million to the rehabilitation of Transcorp Hotels, saying it was meant to lay an investment, “foundation for a better tomorrow.”
He said shareholders had invested wisely in the project, adding that, “your investment will yield huge dividends.”
Speaking at the 15th Annual General Meeting (AGM) of the company in Abuja, he noted that it was the first time the level of rehabilitation was being undertaken in the hotel since its existence about 30 years ago.
He said: “We did this because we are long term investors. We believe in investing today for better tomorrow.

Related Keywords

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