Press Releases

Transcorp, NNPC sign production sharing contract on Opl 281

May 5, 2014
May 3, 2014, Lagos, Nigeria. In a major boost to its vision of creating a leading energy platform, Transnational Corporation of Nigeria Plc (Transcorp), [TRANSCOR:NL], is pleased to announce that it has signed a Production Sharing Contract (PSC) with the Nigerian National Petroleum Corporation (NNPC) for the development of its oil block OPL 281.


April 15, 2014
    PRESS RELEASE   TRANSCORP ANNOUNCES GROUP PROFIT BEFORE TAX OF N3.77BN FOR THE THREE-MONTHS ENDED MARCH 31, 2014. Lagos, Nigeria – April 14, 2014 - Transnational Corporation of Nigeria Plc (“Transcorp”) has announced the results of its first quarter 2014 operations.
Tony Elumelu giving his Keynote address at the UN GA 1

Tony Elumelu addresses the UN General Assembly

April 10, 2014
NEW YORK, 9 April – On Wednesday, April 9, the UN General Assembly and Economic and Social Council (ECOSOC) hosted the opening session of the 2014 Forum on Partnerships, entitled “The Role of Partnerships in the Implementation of the Post-2015 Development Agenda.” The event was attended by the UN Secretary General and the Presidents of the General Assembly and ECOSOC as well as all 193 representatives to the UN General Assembly.

Testimony of Tony O. Elumelu: “Powering Africa’s Future – Examining the Power Africa Initiative”

March 28, 2014
London — Testimony of Tony O. Elumelu, Chairman of Heirs Holdings and the Tony Elumelu Foundation “Powering Africa’s Future – Examining the Power Africa Initiative” U.S.
Aurore Mimosa Munyangaju, Trading Manager, EAX

East Africa Exchange introduces electronic trading platform to Kenyan grain traders

February 13, 2014
Aurore Mimosa Munyangaju, Trading Manager, EAX Nairobi, Kenya, 13 February – East Africa Exchange in partnership with the Eastern Africa Grain Council hosted a stakeholder engagement meeting entitled “Building Trade” in Nairobi, Kenya on Thursday, 13th February 2014, that took place at the Stanley Sarova Hotel at 8:00a.m.

Transcorp, GE partner to improve power generation in Nigeria

January 31, 2014
Lagos, 30 January 2014 – Transcorp Ughelli Power Ltd (TUPL), the power subsidiary of Transnational Corporation of Nigeria Plc (Transcorp), and General Electric (GE) have signed an agreement to expand the capacity of TUPL’s Ughelli power plant by 1000MW over the next 3 to 5 years.

Heirs Holdings invests in Planet Labs revolutionary satellite technology

January 27, 2014
Heirs Holdings is the only African investor in the US start-up Planet Labs’ innovative satellite manufacturing technology.

New UBA Chairman appointment highlights dynamic growth in African markets

January 2, 2014
Lagos, 18 December 2013 – United Bank for Africa (UBA), the pan-African financial services group in which investment company Heirs Holdings has a strategic interest, has announced the appointment of a new board chairman, Ambassador Joe Keshi.

Heirs Holdings investment philosophy delivering gains for Nigerian shareholders as Transcorp shows record growth in 2013

December 11, 2013
L-R: President/CEO, Transcorp, Obinna Ufudo; CEO, Nigerian Stock Exchange, Oscar Onyema; Chairman, Transcorp, Tony Elumelu; and Executive Director, Haruna Jalo-Waziri, on the floor of the Nigerian Stock Exchange, Marina, Lagos (December 2013) Elumelu applying UBA business transformation experience across the Nigerian economy Lagos, 9 December 2013 – Heirs Holdings, the pan-African proprietary investment company with interests in key economic sectors, has again demonstrated its transformational ability over ailing businesses as one of its major investments, Transnational Corporation of Nigeria plc (Transcorp), presented its laudable achievements of 2013 to the Nigerian Stock Exchange (NSE) this afternoon.

How Africa’s natural resources can drive industrial revolution

December 5, 2013
Lagos, 27 November 2013 – Tony Elumelu, the entrepreneur, philanthropist and chairman of Heirs Holdings Limited, a pan-African investment company, argues that responsible resource-based industrialisation can power Africa’s economic growth, in an article co-authored with Carlos Lopes, the Executive Secretary of the United Nations Economic Commission for Africa (UNECA).