Transcorp Announces the Appointment of Mrs. Foluke Abdulrazaq as Board Vice Chairman.

Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s leading listed conglomerate, owner of Transcorp Power Limited, one of Nigeria’s largest power producers and the iconic Transcorp Hilton in Abuja, has announced the appointment of Mrs. Foluke K. Abdulrazaq to its Board of Directors, as Vice Chairman, effective Friday, 5th of June 2020.

Mrs Abdurazaq brings considerable experience in both the public and private sectors. Her public service career includes serving as a Commissioner in the Ministries of Finance and Women Affairs in Lagos State when during her tenure, the broad policies that led to the State’s Accelerated Revenue Generation Programme (ARGP) were formulated.

She was also the Chairman of the State’s Tenders’ Board, a member of the Federal Accounts Allocation Committee (FAAC), and the State’s Executive Council.

Mrs Abdurazaq has held, over a period of twenty years, a series of senior positions in the Nigerian financial services sector, including her appointment by the Central Bank of Nigeria/NDIC in September 1995, as the Executive Chairman of the Interim Management Board of Credite Bank Nigeria Limited.

She also served on the Group Board of United Bank of Africa Plc from 2008 to 2020, when she retired as the Chairperson of the Board Credit Committee. Mrs Abdulrazaq holds an M.Sc degree in Banking and Finance from the University of Ibadan.

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Commenting, Chairman of Transcorp, Mr Tony O. Elumelu C.O.N, stated, “I am delighted that Mrs Abdulrazaq is joining our Board. This appointment demonstrates once again our commitment to the highest level of governance, human capital investment and diversity and inclusion across all layers of our business.

Mrs Abdulrazaq’s reputation as one of Nigeria’s senior business leaders and public servants, coupled with her track record of championing the role of women in business will be an inspiration. I am also pleased to announce her appointment as the Vice-Chairman, the first occupant of this role in the history of Transcorp.”