Following the appointment of the Accountant General of the Federation, Dr Oluwatoyin Madein, as a non executive director on its board, Nigeria’s first hospitality business, Trancorp Hotels, has hit N1trillion market cap.
Madein’s appointment was approved with the Nigerian Exchange Limited by the boards of directors of Transcorp Hotel PLC on March 5, 2024.
“Dr Madein represents the interest of one of the company’s significant shareholders, the Ministry of Finance Incorporated, on the board.
“As a company that places a great premium on governance as a performance enabler, and we believe that this appointment will further strengthen the board’s oversight functions, and thereby enhance value creation and delivery for all stakeholders,” the corporate notice signed by the Group Company Secretary, Stanley Chikwendu, partly read.
Madein is presently the Accountant-General of the Federation and has served as Assistant Director, Deputy Director and Director, Finance and Accounts in the Federal Civil Service.
She is an alumnus of Walden University, USA, where she got her PhD in Management (Finance).
She also got an MBA from Ogun State University and holds a Fellowship of various professional bodies, including the Association of Chartered and Certified Accountants, UK; the Institute of Chartered Accountants of Nigeria and the Association of National Accountants of Nigeria.
According to the report from the Office of the Head of Civil Service of the Federation, Madein’s appointment as AGF took effect from May 18, 2023, exactly one year after the ex-AGF, Ahmed Idris, was suspended.
