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Dupe Olusola: The Leader Who Has Attested that Success Isn’t the Result; It’s The Impact!



Transcorp Hotels PLC, Dupe Olusola

Dupe Olusola, the MD/CEO of Transcorp Hotels PLC, one of Africa’s leading hospitality companies, outlines what it means to her to be successful. She considers everyone’s definition of success to be exclusive because it depends on their experiences and the outcomes they seek.

“It is about giving back to the people – individuals and community around me,” – she says, defining what it means to her. The leading woman believes that success does not only depict what has been achieved. It also shows how well one performs the role they introduced themselves for.

She delves further into the point, demonstrating that it is also about empowering others to develop their full potential. Satisfaction comes from knowing one has done all one can and wanting nothing more than to continue growing as a person and accomplishing their goals. The focus is on durability and longevity. There is no such thing as success in a vacuum. Spiritual, social, emotional, mental, physical, and financial well-being are all components of this ideal. Individually and collectively, success is defined by going above and beyond expectations. For her, success is about bringing good fortune to those around her and aiding their development.

Dupe Olusola comprehends that to thrive in the hospitality industry, it is essential for market participants to have a strong desire to help others and provide them with the finest service possible. This new point of view on the ace has been one of the significant turning points that propelled Transcorp Hotels Plc to new heights.

“There is always a new challenge; you can’t run out of things to motivate you.”

Tracing the roots

Family is the cradle of geniuses. That’s where the journey begins. Olusola admires the way her family supported and taught her to speak up. Her confidence and courage came following the upbringing she received. Transcorp Hotel’s name and fame, as she believes, is a result of the process she has undergone as a daughter and professional. She remembers how fortunate she had been to work with people who mentored her the best way and followed her with all faith. The path to success is always tricky, but the people surrounding you make things easier and more convenient. That’s how we all begin, be it a small venture one runs or a big business house one operates.

The key factors that pave the path towards success are the urge to do better with every customer they serve, the willingness to push themselves to their limits and beyond, and the attempt to maintain a balance between being a business and a service provider, i.e., making an impact. And this is precisely what Transcorp Hotels has done so far and will continue to do in the future.

Transcorp Hotels PLC services and its growth strategies

Listed on the Nigerian Exchange Group (NGX), Transcorp Hotels Plc is Africa’s most prominent hotel chain. They have the award-winning Transcorp Hilton Abuja and the Transcorp Hotels Calabar in southern Nigeria. They also run Aura by Transcorp Hotels, an online booking portal that began in 2021 and is experiencing significant growth. Dupe describes this as part of the company’s “asset-light” strategy. Aura by Transcorp Hotels is a convenient online booking platform that allows users to book a hotel room, an apartment, or even an experience from anywhere. Transcorp Hotels PLC now manages over 5,000 rooms in hotels and flats across Nigeria. With the help of cutting-edge technology, Aura by Transcorp Hotels is rapidly expanding.

Moreover, Transcorp Hotels PLC collaborates with a wide range of interested parties and rolls out novel services to maintain rising demand despite the company’s rapid growth. The Transcorp Hilton Abuja will have a state-of-the-art convention center by 2023, and a spa just opened at the hotel, with first-rate amenities. The company is also building a new five-star hotel in the center of Lagos. As Dupe puts it, “There is truly so much more, and we’re excited about this.”

The core values of Transcorp Hotels PLC  

The company’s core values, as described by Dupe Olusola, are based on these three Es “Excellence, Execution, and Enterprise.” Excellence is the highest possible efficiency level in producing tangible outcomes. Achieving the maximum efficiency level (or perfection) is only possible with integrity.

Innovation is the by-product of business, and the only way to execute with perfection is to uphold a standard of honesty that inspires trust in every stakeholder and keeps them focused on the common goal. Dupe asserts that the company’s core values have allowed Transcorp Hotels Plc to cultivate a reputation for honesty and creativity.

One of its ideologies it swears by is to ensure a culture of integrity and innovation. To influence her team, it’s a must for her to model these behaviours. At Transcorp Hotels Plc and throughout the Transcorp Group, these fundamental principles serve as the warp by which their daily actions, standards of practice, team onboarding, and induction are woven.

Transcorp Hotels PLC strategies to stay afloat

Dupe Olusola indicates that Transcorp Hotels PLC has established procedures to keep up with the intense competition in the hospitality industry.  Their exceptional performance, which is typically above the industry norm, reflects their relentless pursuit of excellence. Dupe thinks this success is due to the novel approaches they’ve taken to increase sales, open new markets, and keep the consistently high quality they’re recognized intact. She reflects on the unprecedented time in 2020, during the peaks of the COVID-19 pandemic. As social isolation was essential in limiting the spread of the virus, many lodging establishments were forced to close their doors.

Drive-in theatres, like the one created by the company at Transcorp Hilton Abuja, let guests enjoy the outdoors in a risk-free environment. At the same time that the globe was trying to cope with the effects of the epidemic, they launched a new initiative called Clean Stay, which aimed to reassure guests about the cleanliness of their accommodations. As the pandemic caused a decline in government and business travel to the hotel, it demonstrated to the world that in addition to being a historically acclaimed business hotel, it was also a fantastic place to visit for vacation.

Transcorp Hotels PLC, as described by Dupe Olusola, recovered more quickly than other brands in their business thanks to the introduction of leisure activities that assured the otherwise excluded or non-existent leisure market became their cash cow. Their devotion to incremental innovation has always given them a leg up on the competition, and it is this innovation that will allow them to maintain their dominant market position. They routinely show better results than the market average across the board.

Transcorp Hotels PLC’s top line climbed 55% yearly, according to Dupe’s analysis of the company’s recently released financial data for the first nine months of 2022. As of September 2022, the company’s revenue and PBT had already surpassed FY 2021 by $2.4 and $4.5 million, respectively. They maintained a 46% profit in operations despite cost inflation. She says, “All of these were made possible by the relentless effort of our team in innovatively driving business from all of our operating segments while simultaneously managing and optimizing our costs.”

Transcorp Hotels PLC can keep up with the constantly evolving hospitality industry thanks to the diligent efforts of its team and network of industry watchers.

Best recognition received by Transcorp Hotels PLC

Dupe Olusola, the brand’s MD/CEO, talks about the company’s most outstanding achievements by noting the numerous honours it has received. It has won the prestigious 2022 Seven Stars Luxury Award, which is significant for them and the hotel industry. Moreover, Transcorp Hotels PLC has been recognized by the World Travel Awards for its flagship property, Transcorp Hilton Abuja, including: Africa’s Leading Business Hotel, Nigeria’s Leading Hotel, Nigeria’s Leading Business Hotel, Nigeria’s Leading City Hotel and Nigeria’s Leading Hotel Suite (the Presidential Suite).

Transcorp Hilton Abuja and Zuma Restaurant (at Transcorp Hilton Abuja) also won the World Luxury Hotel Awards for hotel and restaurant, respectively.

At the “Nigeria at 60” Awards ceremony in 2021, Transcorp Hotels PLC was named the country’s Most Outstanding Hotel and Hospitality Company. The group also took home the 2022 Sectoral Leadership Award for Services by Pearl Awards, which recognises top companies listed on the Nigerian Exchange Group (NGX).

According to Dupe, the company is also honoured to receive the 2022 Travellers’ Choice Award from Trip Advisor and the Travellers’ Review Award from The 2022 Nigerian Tourism Awards recognized Aura by Transcorp Hotels with the Special Recognition Award for Tourism Innovation.

According to Dupe, the hotel chain’s and its individual brands’ accolades add to a lengthy list. But, as Dupe points out, beyond the awards and recognition, they are content in their work because they are fulfilling their vision of redefining the African hospitality industry by focusing on the needs of their guests, staff, and other stakeholders.

As the MD/CEO of Transcorp Hotels PLC

Dupe Olusola serves as the Managing Director/CEO of Transcorp Hotels PLC. She is accountable for setting the company’s strategic direction- developing its strategies, providing strategic counsel to various organizational and functional leaders, and assisting the company in meeting its goals.

She leaves no stone unturned to keep the morale up of her co-workers and team. Transcorp Hotels, under her leadership, has developed a company-wide ethos of striving for and achieving excellence in all they do. She explains that they’re all striving for the same thing. And the drive to accomplish the goals they have set for themselves is what keeps everyone going.

Dupe Olusola indicates that her co-workers are self-motivated individuals. Nonetheless, her team ensures that their working conditions and opportunities for advancement are met. In her words, “there is always a new challenge; you can’t run out of things to motivate you.”

Transcorp Hotels PLC’s Long-Term Vision

Transcorp Hotels Plc is a frontrunner in the African hospitality industry, and its beliefs are firmly based on Africapitalism. CEO Dupe Olusola has dreams of expanding the business across Africa and beyond. The group aspires to transform people and the continent to build the Africa of their dreams. According to Dupe, they are revolutionizing African hospitality through Transcorp Hotels.

On being a catalyst of change for next-gen leaders

Dupe Olusola says it is essential to keep people motivated and reminded of the importance of living life to the fullest and the need for discipline, hard work, maintaining a positive attitude, and dedication to success. To her, “no” is not an option, and she wants the younger generation to know that anything is possible. As a catalytic agent she shares, how she would like to achieve it:

“By holding myself to the highest standards possible. Showing people, the importance of being authentic and, indeed, being true to self.”

Dupe also stresses the significance of resilience. To teach them that there is no easy way to the top and that the finest leaders develop consistency and dedication in their approach to work. She is hopeful that they will all remember that it is more important to focus on the job than on the praise and that they should embrace emotional intelligence to connect with and get the most out of the people they lead.

She agrees that the most incredible way to teach future generations is to push them outside their comfort zones. Creating opportunities for them to succeed is necessary for influencing change.  Hence, Dupe’s effort to contribute effectively and pave the way for the future generation to excel.

Dupe strongly believes in using every available real-life teachable moment and the power of stories to teach life lessons.She is dedicated to developing future leaders who will surpass their current accomplishments by orders of magnitude.

Acing equilibrium

Work-life integration, rather than work-life balance, is what Dupe Olusola strives towards. She thinks it’s impossible to strike a healthy balance between everything because something will always take precedence over the others depending on how you set your priorities.

Executive, wife, and mother Dupe Olusola makes the most of her time by setting priorities and efficiently using her resources. She considers that her family and team are responsible for helping her prioritize and balance her job and personal life. She concludes,

“It is no easy feat. However, you can do it with the right mindset and willingness to succeed.”

Message to aspirant business leaders  

This message from Dupe Olusola provides some helpful insight on how to successfully deploy your leadership strategy, whether you’re managing a large team on a demanding project or merely trying to climb the corporate ladder. She encourages them to keep trying even when told “no”. One must always strive to do better and achieve more. She advises them not to let the possibility of failure stop them from seizing opportunities when they present themselves. Feel the fear and do it nonetheless; acting is better than doing nothing.

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Ecobank, Other DMBs Increase Cash Issuance Limit



Ecobank, Other DMBs Increase Cash Issuance Limit

Deposit Money Banks (DMBs), including Ecobank are set to raise their cash withdrawal limits from the current N20,000-N50,000 range to over N80,000-N100,000, according to multiple bank officials.

The move, it was learnt, would help bank branches to tackle lingering queues in some cities across the country.

The Central Bank of Nigeria (CBN) had on Friday, March 24, 2023, directed commercial banks to open for operation on Saturday and Sunday, as part of a coordinated effort to ease the circulation of old and new banknotes.

This came after the CBN began the release of billions of old naira notes to DMBs. The central bank on Thursday finally obeyed the Supreme Court on the legal status of the old naira notes after months of controversy that trailed the naira redesign policy.

According to findings, most DMBs currently pay between N20,000 and N50,000 over-the-counter and Automated Teller Machines.

However, officials told our correspondents that banks were planning to raise the limits to enhance currency circulation and put a permanent end to queues in banking halls and ATM galleries.

Customers had on Monday thronged banking halls and ATM galleries to get cash despite the banks working throughout the weekend.

Visits to several bank branches in Lagos, Abuja, Ogun State, and other cities, however, revealed that customers in their numbers converged on bank premises to withdraw cash.

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Zenith Bank CEO, Ebenezer Onyeagwu conferred with Doctorate Degree by the University of Nigeria, Nsukka



Ebenezer Onyeagwu Doctorate Award

The Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, was on Saturday, March 25, 2023, conferred with a Doctorate Degree in Business Administration by the University of Nigeria, Nsukka. The award, which is in recognition of his immense achievements as Group Managing Director/CEO of Zenith Bank as well as his contributions to the growth of the financial services sector in Nigeria and across the African continent, was conferred on him during the 50th convocation ceremony of the University.

Speaking during the conferment ceremony, the Vice Chancellor of the University of Nigeria, Prof. Charles Igwe, congratulated Dr. Ebenezer Onyeagwu for distinguishing himself in his career and for his service to humanity, which made him worthy to receive the prestigious Doctorate Degree from Nigeria’s first indigenous University.

In his acceptance speech, Dr. Ebenezer Onyeagwu expressed his gratitude to the University of Nigeria for finding him a worthy recipient of the Doctorate Degree in Business Administration of one of the leading universities in Nigeria, considering the very rigorous process of selection of awardees by the institution. In his words, “for me to have been considered and to have passed through the meticulous selection process makes it the more dignifying because I have no connection with the University.”

Noting that the award represents a validation of the outstanding corporate governance, ethical leadership, and overall outstanding performance that Zenith Bank is recording, Dr. Onyeagwu dedicated the award to the board and management of Zenith, especially the Founder and Chairman, Dr. Jim Ovia, CFR, who has remained a mentor, a leader and a source of inspiration to everyone at the Bank and beyond; the staff, for being the shoulder and proverbial base of the pyramid upon which his achievements and success as CEO of the leading financial institution in Nigeria rests; the Bank’s customers for their unflinching loyalty to the brand; and to his family for their unceasing love and support.

Presenting the citation of Dr. Ebenezer Onyeagwu to the assemblage at the 50th Convocation Ceremony for the conferment of the Doctorate Degree in Business Administration, the orator of the University of Nigeria, Dr. Ikenna Onwuegbuna noted that Dr. Ebenezer Onyeagwu is an alumnus of Auchi Polytechnic, the University of Oxford, England and Salford Business School, University of Salford, Manchester, United Kingdom, Delta State University, Abraka. Also, he is an alumnus of Wharton Business School of the University of Pennsylvania, Columbia Business School of Columbia University, and the Harvard Business School of Harvard University in the United States.

Dr. Ebenezer Onyeagwu is a Fellow (FCA) of the Institute of Chartered Accountants of Nigeria (ICAN), a Fellow of the Nigerian Institute of Management (NIM), The Chartered Institute of Bankers of Nigeria (CIBN), the Institute of Credit Administrators (ICA) and Senior Associate Member, Risk Management Institute of Nigeria (RIMAN).

Dr. Ebenezer Onyeagwu is the Chairman of the Body of Banks’ Chief Executive Officers, Nigeria and Chairman of Zenith Pensions Custodian Limited and Zenith Nominees Limited. He is also on the Board of Zenith Bank (UK) Limited, FMDQ Holdings Plc and Lagos State Security Trust Fund (LSSTF). Ebenezer Onyeagwu is a member of the International Monetary Conference (IMC), the Wall Street Journal CEO Council, member of the African Trade Gateway Advisory Council of the Africa Export-Import Bank (Afreximbank), and member of the Governing Council of the Chartered Institute of Bankers of Nigeria (CIBN). He also served on the board of Zenith Bank Ghana Limited, Zenith General Insurance, Zenith Securities Limited, Zenith Assets Management Company, Zenith Medicare Limited, and Africa Finance Corporation (AFC).

Dr. Onyeagwu’s track record of excellence has also seen him win several individual awards, including being named Bank CEO of the Year (2019) by Champion Newspaper, Bank CEO of the Year (2020, 2021 & 2022) by BusinessDay Newspaper, CEO of the Year (2020 and 2021) – SERAS Awards, and CEO of the Year (2022) – Leadership Newspaper.

Other recipients of  Doctorate Degrees at the 50th convocation ceremony include former Governor of Delta State, Dr. Emmanuel Uduaghan, who was conferred with the Doctor of Public Administration, and the Chairman of Hobark International Limited, Dr. Obiora Fubara, who received the Doctor of Business Administrat ion. A retired Justice of the Supreme Court of Nigeria, Justice Mary Odili, was conferred with the Doctor of Law; however, her conferment was deferred to a later date because she was unavoidably absent at the ceremony.

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Dangote Cement to pay about N340billion dividend on Friday, April 14



Dangote Announces Partnership With Ogun, Kaduna Chambers

Management of the pan-african cement manufacturer, Dangote Cement Plc has revealed that once the shareholders at the AGM slated for April 13, 2023 approve the proposal, the shareholders whose names are registered in the Company’s Register of Members at the close of business on 30 March 2023 will be immediately paid the sum of about N340 billion a day after the meeting.

In the notice of AGM, published in the Newspapers and signed by Dangote Cement’s Acting Company Secretary, Edward Imoedemhe, the company revealed that a list of unclaimed dividends is available on the Company’s website at and that Shareholders with unclaimed share certificates or unclaimed dividends should address their claims to the Registrars, Coronation Registrars Ltd, at info@coronationregistrars

The company also stated that it is giving notice to all shareholders to open bank accounts, stockbroking accounts and CSCS accounts for receiving dividend payments electronically and also that pursuant to the provision of Section 187 of CAMA 2020, the treasury shares are not entitled to dividend and voting rights.

The Cement company disclosed in the published Notice that, its ordinary business for the day will include: laying the Audited Financial Statements for the Year Ended 31 December 2022 together with the Reports of the Directors, Auditors and the Audit Committee thereon; declare a dividend; elect/re-elect Directors; authorise the Directors to fix the remuneration of the Auditors for the 2023 financial year; disclose the remuneration of Managers of the Company and also elect shareholders’ representatives of the Statutory Audit Committee.The AGM will also consider and if thought fit,  fix the remuneration of the Directors.

In the financial statements of the organisation for 2022, the gross earnings for the Group increased to N1.6 trillion from the N1.4 trillion recorded in the preceding year due to the higher revenue generated from cement and clinker sales, with a significant chunk coming from the domestic market. The company’s revenue also increased by 21 per cent to N1,205 billion as against N993 billion recorded for the preceding year.

While the group’s earnings per share increased by 5 per cent to N22.27 billion as against the preceding year’s N22.42 billion, the company’s earnings per share increased by 6 per cent to N23.87 billion as against N22.42 recorded for the preceding year.

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