News
Transcorp Hotels declares N4.5bn profits
By Joseph INOKOTONG
Transcorp Hotels Plc has announced profit after tax of N4.5 billion at its 3rd Annual General Meeting which took place at Transcorp Hilton Abuja.
According to a statement, the Shareholders at the meeting commended the management and staff of the Company for recording a strong financial and operational performance in the financial year ended 31st December 2016, with improvements across all indices despite the economic recession which took a hefty toll on hospitality businesses generally.
The Shareholders also described the management of the Company as visionary and dedicated, as demonstrated by the Hotel’s constantly improving quality of service.
The Shareholders unanimously approved the Board’s recommendation of a final dividend of 40 kobo per share, stating that they are confident that as the Company continues to make progress, it will not relent in meeting their expectations.
Speaking on behalf of shareholders, Mr. Boniface Okezie, Chairman, Progressive Shareholders Association of Nigeria (PSAN), expressed appreciation to the Company’s Board and Management for paying dividend at a period when the country’s economy is in dire straits, leading to significant drop in hotel occupancy.
He said, “At a time when a lot of companies prefer to cut dividend with a ready excuse in the current state of the economy, we are delighted that our Company has paid dividend which will go a long way in meeting our financial needs”.
Also speaking, Alhaji Muktar Muktar, President, Trusted Shareholders Association, commended Transcorp Hotels for what he termed “a stellar financial performance” amid a challenging period and the dividend payout which he said was equally laudable.
According to Muktar, Transcorp Hotels has not relented on its oars and has continued to shine brightly delivering world class service to an ever growing clientele of top notch guests across the world. Little wonder it has consistently won numerous awards and most recently bagged a long list of honours in 2016 that will make even its competitors go green with envy.
“We are proud of this achievement and encourage the MD and the Board to continue in this direction”. At this point, the shareholders gave a standing ovation to the MD/ CEO for not just winning the Seven Stars 2016 CEO of the Year at a global event, but for also leading Transcorp Hilton to win the Seven Stars Seal of Excellence Award for the first time.
Earlier, Chairman of the Company, Olorogun O’tega Emerhor explained to shareholders that the strong performance recorded by the Company is because the Company continued to re-invent its offerings, in keeping with service excellence.
He noted that the Company was relentless in maintaining market leadership in its flagship property, closing the year with occupancy of 60%, well ahead of competition. This according to him ensured Transcorp Hotels delivered a resilient performance even in the face of the impact of economic recession on the hospitality industry which has seen occupancy for large hotels dropping below 35%.
“2016 was a year of notable achievements for Transcorp Hotels Plc, despite the strong economic headwinds. The upgrade of Transcorp Hilton Abuja is underway in line with our commitment to stakeholders to build Africa’s choice hospitality assets”, Emerhor said.
He noted that, in validation of Transcorp Hilton Abuja as the prime hotel property in Abuja, the Hotel won numerous awards in 2016 and for the fourth year in a row emerged the proud recipient of five prestigious awards at the 23rdWorld Travel Awards; the laurels include Africa’s Leading Business Hotel; Nigeria’s Leading Business Hotel, Nigeria’s Leading Hotel and Nigeria’s Leading Hotel Suite (the Presidential Suite).
The World Travel Award is recognized globally as the hallmark of quality, with winners setting the benchmark to which others aspire. The Hotel also went on to clinch the 2016 Trip Advisor Travelers’ Choice Awards and the 2016 Seven Stars Luxury Hospitality and Lifestyle awards, Emerhor said.
In his review of the 2016 results, the Managing Director/Chief Executive Officer of Transcorp Hotels Plc, Mr. Valentine Ozigbo said that the Company recorded a 10 percent growth in gross revenue at N15.31bn as against N13.98bn in 2015. This according to him was largely driven by key events including visits by very high profile guests, many foreign heads of government and representatives of consulates. All this he said was due to aggressive business development.
He said the Company recorded a Profit Before Tax of N5.24bn in 2016, maintaining 2015 performance of N5.38bn while the Profit After Tax for the year surpassed 2015 performance of N3.5bn by 17 percent to N4.10bn in 2016. “Our major priority now is creating value for our stakeholders, improving customer service for our guests and maximizing shareholder value, and we believe very strongly that the foundation that we are laying, with the current upgrade and refurbishment of the Transcorp Hilton Abuja and repositioning of Transcorp Hotels Calabar is certain to yield very positive results”, he said.
“On this premise, I am happy to add that our turnaround initiatives for Transcorp Hotels Calabar are equally paying off as the Hotel recorded laudable profit for the first time since 2012”. This development, he explained, was predicated on strategy of increasing occupancy and proactive cost management” Ozigbo stated.
Speaking on 2017 prospects, Mr. Ozigbo maintained that the Company will keep up with the tempo to sustain the financial performance in 2017, despite the impacts of the temporary airport closure. He also confirmed that the Company is on track to deliver on the ongoing upgrade of Transcorp Hilton Abuja as preparations get on for the 30thanniversary of the Hotel in the 2nd quarter of this year.
News
Olumode: Driving Change in a New Dawn.
A civil society, pressure group, non-profit, and anti-corruption organization—the Guild of Civil Societies and Media Executives for Equity, Justice and Transparency in Nigeria (GOCMEJ)—has applauded and commended the transformational philosophy, paradigm shift, and institutional reforms currently being entrenched by the new leadership of the Federal Fire Service (FFS) under the Controller-General, Samuel Adeyemi Olumode.
The Guild commended the rebranding and repositioning efforts of the Service, coupled with the high esprit de corps, improved morale of officers and men, discipline, and promotions across board within the Federal Fire Service( FFS). These efforts include the commissioning of modern fire trucks and vehicles to reduce incessant fire emergencies, advocacy on fire safety policies nationwide, and the enforcement of fire equipment installation in buildings across the country. GOCMEJ stressed that the timely delivery of fire-fighting equipment and the retraining of officers by the current leadership are commendable developments deserving the support of all well-meaning Nigerians.
According to a press statement issued by the Country Director and Secretary, Comrade Zubaida Aliyu Muhammed, the gender-friendly management of the Service has appointed the first-ever female Deputy Controller-General since the inception of the Federal Fire Service. This novel and laudable step, the Guild noted, aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which promotes inclusive female participation in governance.
The statement further affirmed that the disciplinary measures introduced by the present management, alongside its zero-tolerance stance on corruption and laxity, have significantly boosted personnel morale and commitment to duty, endearing the Service to its workforce like never before.
Drawing from the achievements of past administrations and the strong resolve of the current leadership to consolidate existing development programmes, the statement highlighted enhanced advocacy for fire-fighting equipment in buildings, effective implementation of fire policies and safety measures, seamless Public-Private Partnerships (PPP), and robust inter-agency collaboration with sister security agencies. These initiatives have strengthened the Service into a viable, accountable, and sustainable institution that meets global best practises in performance and service delivery.
The Guild emphasized that the present management has upgraded the Fire Academy and Disaster Management Institutions to boost capacity and manpower development. It also commended the approval of local and international training programmes, seminars, and courses for officers. Special recognition was given to the establishment of a state-of-the-art Procurement Department, which has enhanced transparency, due process, and efficiency in contracting and disbursement processes.
Consequently, GOCMEJ endorsed the continued collaboration and partnerships with agencies such as NEMA, EFCC, NSCDC, the private sector, and the general public. These collaborations have enhanced public sensitization on disaster management, fire safety policies, and emergency response procedures, creating a win-win situation for all stakeholders. The Guild noted that the transparent and ethical mechanisms adopted by the present leadership have further endeared Nigerians to the Service.
The statement reiterated that the current management has turned around the fortunes of the Federal Fire Service by repositioning infrastructural development, improving equipment maintenance, and strengthening due process mechanisms to curb abuse of standards. These reforms have significantly enhanced productivity and efficiency in the workplace, earning the Service recognition as one of the best places to work within the paramilitary sector due to improved human capacity, a conducive work environment, and high staff morale.
GOCMEJ also recalled that Nigerians have recently expressed pride in the improved response time of the Fire Service to emergencies and accidents, thereby reducing fire-related disasters in homes and offices across the country.
Worthy of mention is the innovative initiative of establishing fire stations within major markets nationwide. Meanwhile, the Investigation, Inspectorate, and Enforcement (IIE) Division continues to inspect markets and public buildings to ensure compliance with fire safety standards. The management is also intensifying public enlightenment through paid announcements and advertorials, educating Nigerians on fire prevention practices, such as switching off electrical appliances after business hours and remaining vigilant at all times.
In conclusion, GOCMEJ called for an increase in the national budgetary allocation to the Federal Fire Service(FFS) in view of its critical role in mitigating fire disasters. The Guild also urged international organizations, public-spirited individuals, and corporate bodies to support, partner, and collaborate with the Service on long-term strategic initiatives aimed at fire disaster prevention, capacity building, ICT development, and manpower enhancement for improved productivity.
News
Olumode: Driving Change in a New Dawn.
A civil society, pressure group, non-profit, and anti-corruption organization—the Guild of Civil Societies and Media Executives for Equity, Justice and Transparency in Nigeria (GOCMEJ)—has applauded and commended the transformational philosophy, paradigm shift, and institutional reforms currently being entrenched by the new leadership of the Federal Fire Service (FFS) under the Controller-General, Samuel Adeyemi Olumode.
The Guild commended the rebranding and repositioning efforts of the Service, coupled with the high esprit de corps, improved morale of officers and men, discipline, and promotions across board within the Federal Fire Service( FFS). These efforts include the commissioning of modern fire trucks and vehicles to reduce incessant fire emergencies, advocacy on fire safety policies nationwide, and the enforcement of fire equipment installation in buildings across the country. GOCMEJ stressed that the timely delivery of fire-fighting equipment and the retraining of officers by the current leadership are commendable developments deserving the support of all well-meaning Nigerians.
According to a press statement issued by the Country Director and Secretary, Comrade Zubaida Aliyu Muhammed, the gender-friendly management of the Service has appointed the first-ever female Deputy Controller-General since the inception of the Federal Fire Service. This novel and laudable step, the Guild noted, aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which promotes inclusive female participation in governance.
The statement further affirmed that the disciplinary measures introduced by the present management, alongside its zero-tolerance stance on corruption and laxity, have significantly boosted personnel morale and commitment to duty, endearing the Service to its workforce like never before.
Drawing from the achievements of past administrations and the strong resolve of the current leadership to consolidate existing development programmes, the statement highlighted enhanced advocacy for fire-fighting equipment in buildings, effective implementation of fire policies and safety measures, seamless Public-Private Partnerships (PPP), and robust inter-agency collaboration with sister security agencies. These initiatives have strengthened the Service into a viable, accountable, and sustainable institution that meets global best practises in performance and service delivery.
The Guild emphasized that the present management has upgraded the Fire Academy and Disaster Management Institutions to boost capacity and manpower development. It also commended the approval of local and international training programmes, seminars, and courses for officers. Special recognition was given to the establishment of a state-of-the-art Procurement Department, which has enhanced transparency, due process, and efficiency in contracting and disbursement processes.
Consequently, GOCMEJ endorsed the continued collaboration and partnerships with agencies such as NEMA, EFCC, NSCDC, the private sector, and the general public. These collaborations have enhanced public sensitization on disaster management, fire safety policies, and emergency response procedures, creating a win-win situation for all stakeholders. The Guild noted that the transparent and ethical mechanisms adopted by the present leadership have further endeared Nigerians to the Service.
The statement reiterated that the current management has turned around the fortunes of the Federal Fire Service by repositioning infrastructural development, improving equipment maintenance, and strengthening due process mechanisms to curb abuse of standards. These reforms have significantly enhanced productivity and efficiency in the workplace, earning the Service recognition as one of the best places to work within the paramilitary sector due to improved human capacity, a conducive work environment, and high staff morale.
GOCMEJ also recalled that Nigerians have recently expressed pride in the improved response time of the Fire Service to emergencies and accidents, thereby reducing fire-related disasters in homes and offices across the country.
Worthy of mention is the innovative initiative of establishing fire stations within major markets nationwide. Meanwhile, the Investigation, Inspectorate, and Enforcement (IIE) Division continues to inspect markets and public buildings to ensure compliance with fire safety standards. The management is also intensifying public enlightenment through paid announcements and advertorials, educating Nigerians on fire prevention practices, such as switching off electrical appliances after business hours and remaining vigilant at all times.
In conclusion, GOCMEJ called for an increase in the national budgetary allocation to the Federal Fire Service(FFS) in view of its critical role in mitigating fire disasters. The Guild also urged international organizations, public-spirited individuals, and corporate bodies to support, partner, and collaborate with the Service on long-term strategic initiatives aimed at fire disaster prevention, capacity building, ICT development, and manpower enhancement for improved productivity.
News
Audi: Trajectory of Success and Changing the Narrative
From a plethora of achievements and milestones—despite daunting challenges and shortcomings—the foresight, vision, and focused leadership of the present administration have transformed and repositioned the Service like never before in its history. In spite of limited funding and other grey areas yet to be addressed, the leadership has successfully turned around the narrative through deliberate rebranding efforts since assuming office.
Staff welfare remains paramount to the Commandant-General, who has consistently prioritized boosting esprit de corps and high personnel morale through the prompt payment of salaries, allowances, and other official entitlements as and when due. The leadership has also entrenched core values of integrity, intelligence-based security response systems, and professionalism across all operations. These measures have significantly reduced the activities of criminals, vandals, kidnappers, herdsmen, and illegal miners across the country.
In a press release signed by Mahmud Bello, Director of Media and Stakeholders Engagement of the Citizen Watch Advocacy Initiative (CWAI) in Kaduna State, the organization stated that the paramilitary agency has demonstrated genuine commitment to the interest of Nigerians through its open-door policy and robust engagement with its various publics. This approach has greatly reduced threats and disaster incidences nationwide through professional intelligence gathering, investigation, information sharing, manpower development, and strong collaboration with sister agencies—leading to remarkable improvement in disaster management as first responders.
Accordingly, transparency, accountability, and good governance have remained at the forefront of the present administration’s transformational philosophy. This has resulted in far-reaching reforms, including the regulation of private security companies, the introduction of Mining Marshals to secure strategic mining sites nationwide, containment of vandalism of critical national assets, reduction of oil theft in the Niger Delta region, and the assumption of VIP protocol protection responsibilities. These achievements surpass those of previous administrations and mark a significant milestone in the Service’s evolution.
CWAI authoritatively confirmed that the present management has introduced comprehensive institutional reforms that have repositioned the Service for greater productivity, efficiency, and effectiveness in delivering its mandate of safeguarding lives, property, and critical national assets—thereby reducing criminal activities and enhancing national security.
The Commandant-General, Professor Abubakar Ahmad Audi, reiterated that the reforms introduced align with his vision to upgrade the operational machinery of the Corps. He noted that the reorganization and revitalization of the training department are aimed at sharpening the skills and competencies of personnel to effectively address contemporary security challenges posed by hoodlums, bandits, kidnappers, and insurgents.
The establishment of the Mining Marshals and the Special Female Squad (SFS) are novel initiatives and the first of their kind in the history of the Corps. In response to the Federal Government’s Safe Schools Initiative, the NSCDC conducted audits and surveys of schools nationwide and developed a framework for proactive security measures to address the persistent attacks on educational institutions. These squads, like the Mining Marshals, are strengthening partnerships with local communities and stakeholders while prioritizing surveillance and monitoring to curb violent attacks and criminal activities.
The statement further emphasized that the Directorate of Legal Services has been reinvigorated and strengthened with enhanced prosecutorial competence, improving law enforcement and accountability. Similarly, the Anti-Vandal Unit has undergone major reforms and has been strategically deployed across the South-South geopolitical zone to curb pipeline vandalism, crude oil theft, and destruction of critical national assets. Over 2,500 suspects have been arrested since the beginning of the year for offences ranging from vandalism and attacks on national infrastructure to cattle rustling, banditry, attacks on farmers and farmlands, and illegal mining.
The Commandant-General attributed these successes to effective inter-agency collaboration, synergy, and partnerships, calling for comprehensive manpower development within the national security architecture.
Sports have also received significant attention under the present leadership, with officers and men of the NSCDC winning numerous laurels and trophies in various sporting engagements. All personnel, regardless of rank, have been provided with insurance cover against accidents, disability, or death in the course of duty. The Commandant-General views sports as a unifying platform that promotes wellness, camaraderie, information sharing, and mutual trust among paramilitary agencies.
CWAI further noted that the crackdown on illegal mining activities has saved the economy substantial revenue losses, while the destruction of over 450 illegal refineries has reduced oil theft. Additionally, the arrest of suspects and recovery of critical assets and railway materials valued at over ₦5 billion represent major milestones of the Service.
The organization therefore endorsed the change mantra of the Audi-led management and expressed confidence in the present leadership, noting that Nigerians are proud of its achievements despite prevailing challenges.
CWAI urged personnel to remain good ambassadors of the Corps—incorruptible and aligned with international best security practices wherever they serve. Nigerians were also encouraged to support the management in strengthening efforts against vandals and criminals nationwide.
The organization appealed to corporate bodies and public-spirited individuals to support President Bola Ahmed Tinubu’s Renewed Hope Agenda, particularly efforts to modernize the NSCDC through funding, partnerships, manpower development, capacity building, and the acquisition of modern security equipment.
Finally, CWAI emphasised the need for increased national budgetary allocation to the NSCDC in view of its critical role in the nation’s security architecture, including its added responsibility of VIP protocol protection. It also called for the entrenchment of a standard training curriculum to enhance career progression, effective supervision, and transparent regulation of Private Guard Companies across the country.
-
Uncategorized5 years agoFG, states urged to harness flooding for ranching, others with technology – Agbaje
-
Headlines10 years agoBreaking: EFCC seals Borno House of Assembly, as Hon members take to their heels
-
News12 years agoNigeria Security Operatives Stage Manhunt For Homosexual Perpetrator
-
News9 years agoHow 21-year-old Girl fled community over accusation of lesbianism
-
News10 years agoYobe Gov Moves Against Deputy
-
Opinion7 years ago7 signs she has friend zoned you
-
Technology4 years ago
Online job placement company headhunts women
-
Headlines10 years agoBorno Dep Gov Abducts Another Church Leader
