Transnational Corporation Plc (“Transcorp Group” or the “Company”) (NGX: TRANSCORP), Africa’s leading listed conglomerate with strategic investments in power, hospitality, and energy, has declared a total dividend of ₦20,323,995,148, representing ₦2.00 per share to its shareholders, at its 20th Annual General Meeting (AGM), held at the new state-of-the-art Transcorp Centre, Abuja.

The total dividend comprises an interim dividend payment of ₦4,064,799.030, representing 40 kobo per share, paid in August 2025, together with a final dividend of ₦16,259,196,118, equivalent to ₦1.60 per share.

At the AGM, where the shareholders approved the Audited Financial Statements for the year ended December 31, 2025, the Group Chairman of Transcorp Plc, Mr Tony O. Elumelu, CFR, restated the company’s commitment to delivering sustainable long-term value creation as shareholders commended the conglomerate and its management for sustained performance.

In 2025, the Group, with a combined market capitalisation of ₦4.78 trillion ($3.52

billion) as of May 7, 2026, recorded strong year-on-year growth across all key metrics. Revenue increased by 33% to ₦544 billion (FY 2024: ₦408 billion). Profit Before Tax rose 31% to ₦179.5 billion (FY 2024: ₦136.7 billion), while Profit After Tax surged 44% to ₦135.9 billion (FY 2024: ₦94.1 billion)

Board Chair’s Statement

Mr. Tony O. Elumelu, CFR, Group Chairman, Transnational Corporation Plc

“Transcorp Group remains firmly focused on strong corporate governance and the disciplined execution of its strategic priorities to deliver sustainable, long-term value. Despite a challenging macroeconomic environment, the Group continues to benefit from its diversified portfolio, which has underpinned resilient financial performance in 2025.

President/GCEO’s Statement

Mrs. Owen D. Omogiafo, OON, President/Group CEO, Transnational Corporation Plc

“FY 2025 was a year defined by disciplined execution, strategic resolve, and resilient performance. Transcorp Group is committed to resolving the energy crisis in Nigeria; we have an energy situation, and the gap between the demand and supply is still very wide. Hence, we will continue to work assiduously and tirelessly towards bridging that gap, creating value for the wider country. In our hospitality business, the 5,000-seat capacity Transcorp Centre hosting us today is a testament to our disciplined execution, and you will see more in the coming years.

Shareholders Comments:

While commenting on the performance, one of the shareholders, Mrs E. O. Obideyi, commended the management of Transcorp Group, saying, “I commend the management and staff of Transcorp for sustained performance year-on-year. While we appreciate the Board, I am also extending my commendation to the members of staff of Transcorp for a job well done.”

Another Shareholder, Mr Moses Igrude, commended the Board, Management, and Staff of Transcorp Plc. He said, “I appreciate the vision behind Transcorp and what it has become. When I look at the history and how far it has come under Mr Tony Elumelu’s leadership, I am proud that the aim and objectives are being achieved. That payoff line, ‘Improving lives and transforming Africa,’ is a reality we are witnessing.

Zenith Bank Plc has announced the appointment of Engr. Mustafa Bello as the Chairman of its Board of Directors. The appointment, which takes immediate effect, has been approved by the Central Bank of Nigeria (CBN) and ratified by shareholders at the Annual General Meeting held on May 5, 2026.

Engr. Bello’s appointment represents a strategic step to ensure the continuity, stability, and sustained effectiveness of the Board, while reinforcing the high standards of corporate governance, regulatory compliance, and strategic oversight for which Zenith Bank is widely respected. He joined the Board of Zenith Bank Plc on 29 December 2017 and has served on several Board committees, including the Board Audit and Compliance Committee, Board Governance, Nomination and Remuneration Committee, and as Chairman of the Board Risk Management Committee until he was appointed Chairman of the Board of Directors.

He has extensive leadership experience at Board and executive levels, a strong understanding of corporate governance principles and regulatory expectations, and a proven track record in strategic oversight and organisational growth. He has consistently demonstrated integrity, independence and sound judgement, qualities that distinguished him as the natural choice to lead the Board into its next chapter.

Engr. Mustafa Bello is a distinguished engineer, statesman and corporate leader. His career spans more than four decades across the public and private sectors of the Nigerian economy. He served as Minister of Commerce of the Federal Republic of Nigeria from 1999 to 2002 under President Olusegun Obasanjo, GCFR, where he led the development of Nigeria’s WTO-consistent Trade Policy. He also oversaw the Corporate Affairs Commission (CAC) online project of 2002, which modernised the way businesses register and operate in the country. From November 2003 to February 2014, he served as Executive Secretary and Chief Executive Officer of the Nigerian Investments Promotion Commission (NIPC), where he was instrumental in attracting foreign direct investment into Nigeria, building multilateral and bilateral partnerships, and representing the Federal Government at international conferences and missions.

He graduated from Ahmadu Bello University (ABU), Zaria, in 1978 with a B.Engr. in Civil Engineering (Second Class Upper Division), winning the Shell Prize for the best project and thesis in the Faculty of Engineering. He began his career with the Nigerian Army’s Directorate of Quartering and Engineering Service from 1978 to 1979, before joining the Niger State Housing Corporation as a Senior Civil Engineer from 1980 to 1983.

He is currently the Chairman of Invest-in-Northern Nigeria Limited, a special purpose vehicle for the economic and social transformation of the Northern Nigerian economy, and has previously served on the boards of Eskom Holdings Limited of the Republic of South Africa (2004 to 2008) and FrieslandCampina WAMCO Nigeria Plc as an Independent Non-Executive Director. He is a Fellow of the Nigerian Society of Engineers and a Registered Member of Council for the Regulation of Engineering in Nigeria (COREN) as well as a Fellow of the Academy of Natural Sciences & Engineering in Nigeria (ANSEN).

Zenith Bank stands among Africa’s leading financial institutions, with a strong capital base and operations across Nigeria, the United Kingdom, the United Arab Emirates, Ghana, Sierra Leone, The Gambia, and Côte d’Ivoire.

Zenith Bank has announced the retirement of its founder and group chairman, Jim Ovia, following the expiration of his tenure.

The announcement was made on Tuesday during the bank’s ongoing 35th Annual General Meeting and further communicated in a statement.

The bank said Ovia stepped down after completing the mandatory 12 years as a non-executive director and chairman, in compliance with the corporate governance guidelines issued by the Central Bank of Nigeria.

Ovia became the bank’s chairman on July 16, 2014. He returned to the position after previously serving as the bank’s founder and Group Managing Director/CEO from 1990 to 2010.

The bank described Ovia’s tenure as marked by strong leadership, strategic direction, and effective board oversight.

“The board expresses its deep appreciation to Mr. Jim Ovia for his outstanding service and invaluable contributions.

“His visionary leadership, unwavering commitment to good governance, and dedication to stakeholder value creation significantly strengthened the group’s strategic positioning and reputation during his tenure.

“He has extensive leadership experience at Board and executive levels, a strong understanding of corporate governance principles and regulatory expectations and a proven track record in strategic oversight and organisational growth. He has also demonstrated integrity, independence, and sound judgment,” the statement read.

The financial institution further said that the board has approved the appointment of Mustafa Bello as the new chairman at a meeting on April 27 to ensure continuity.

According to the statement, Bello, an engineer who joined the board on December 29, 2017, is currently the bank’s longest-serving director.

Zenith Bank said Bello’s appointment is expected to ensure continuity, stability, and sustained high standards of governance, while facilitating a seamless leadership transition.