NEWS
TRANSCORP Hotels PLC Reports Strong Performance ,Delivers N1.024BN Interim Dividend
Transcorp Hotels Plc (“Transcorp Hotels” or the “Company”) (NGX: TRANSCOHOT), the hospitality subsidiary of Transnational Corporation Plc (“Transcorp Group”), has announced its H1 unaudited results for the period ended June 30, 2025.
The results show an impressive 60% growth in revenue against the same period in 2024.
Gross Profit increased by 71% year on year.The period saw the launch of the Company’s world-class, 5,000-seat capacity Transcorp Centre, demonstrating Transcorp Hotels positioning as the event and hospitality leader in Nigeria.
The Company’s successful launch of Nigeria’s largest corporate venue is further evidence of its ability to unlock new revenue streams and drive sustainable growth.Key Highlights
Strong growth in Revenue
Transcorp Hotels recorded an impressive Y-o-Y revenue growth of 60% from ₦29.72 billion in H1 2024, to ₦47.57 billion in H1 2025.
Continuing Profitability Momentum
Transcorp Hotels sustained its profit momentum in H1 2025, growing gross profit by 71% to ₦36.21 billion, from ₦21.19 billion of the preceding year.
This notable growth translated to an improvement in H1 2025 gross profit margin, increasing to 76%, despite the challenging macroeconomic environment marked by rising inflation and increased operating costs.
In line with its promise to continually deliver value, the Company is rewarding shareholders with an interim dividend of N1,024,252,841 at N0.10 for every 50 kobo ordinary share, subject to appropriate withholding tax.
Chairman Transcorp Hotels Plc, Emmanuel Nnorom, comments: “Transcorp Hotels’ outstanding performance in the first half of 2025 further validates our transformative strategies, with a laser focus on innovation and operational efficiency.
It affirms our steadfast dedication to delivering investor returns and signals our profound confidence in Transcorp Hotels’ future growth. Moving forward, we are confident in our ability to consistently raise the bar for the industry, fulfilling our mission to redefine hospitality in Africa.”
MD/CEO Transcorp Hotels Plc, Uzo Oshogwe, comments: “Our exceptional H1 2025 performance reflects our relentless execution of a growth-focused agenda. These results reflect the resilience of our business model and the dedication of our team.
Building on the foundation of our iconic assets, the Transcorp Hilton Abuja and the new 5,000-seat capacity Transcorp Centre, we are not just leading Nigeria’s hospitality sector, but redefining excellence across Africa. Our sustained momentum is a reflection of our commitment to innovation, operational efficiency, and value creation for all stakeholders.”
Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation Plc, one of Africa’s leading listed companies with strategic investments in the power, hospitality, and energy sectors.
Transcorp Hotels is redefining hospitality standards in Africa through its businesses, including the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality destination, and digital platform, Aura by Transcorp Hotels.
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NEWS
Troops Crush IPOB/ESN Stronghold in Mother Valley Assault
By David Torough, Abuja
Troops of Joint Task Force South East Operation UDO KA launched a decisive assault on 26 February 2026, storming the notorious Mother Valley in Nkwere, Anambra State, long described by authorities as a stronghold of the Indigenous People of Biafra (IPOB) and its armed wing, the Eastern Security Network (ESN).
The Joint Task Force (JTF) South East—Operation UDO KA, comprising the Nigerian Army, Nigeria Police Force, and Nigeria Security and Civil Defence Corps—advanced for over three hours through difficult terrain before penetrating and dominating the valley.
Troops reportedly faced heavy gunfire and locally made improvised explosive devices during the operation.According to the statement, one IPOB member was neutralized during the exchange, while several others fled with gunshot wounds. Security forces said they recovered two pump-action guns, a locally fabricated firearm, a tear gas gun, seven gas cylinders, an electric kettle, and flags described as linked to extremist propaganda.
Troops also destroyed structures identified as the group’s “Supreme Headquarters,” including solar panels and a Mikano generator, which officials said were sustaining operations in the valley.
In a related action, two suspected IPOB members were arrested—one allegedly attempting to plant an improvised explosive device and another accused of spying on troop movements.
Security forces also recovered a KIA saloon car and a black Toyota Sequoia jeep from what they described as a terrorist car park within the valley.
The suspects are currently in custody for further investigation, while clearance operations continue in the area. Authorities said the operation underscores their resolve to dismantle armed groups and maintain security across the South East.
Foreign News
Germany, Austria Remain Europe’s Cash Strongholds, Survey Finds
BearingPoint commissioned a new survey showing Germany and Austria still lead Europe in cash usage, defying the broader continental shift toward digital payments and card-based transactions across retail and services sectors.
The poll, conducted in December by YouGov, found that 73 per cent of respondents in Germany cited cash as their most frequently used payment method, rising from 69 per cent a year earlier.
In Austria, 71 per cent of participants said they regularly paid with banknotes and coins, confirming the country’s continued preference for physical currency in spite of growing availability of digital and contactless alternatives.
By contrast, cash usage declined across the seven other European countries surveyed, highlighting a widening divide between German-speaking nations and much of the rest of Europe in payment preferences.
In Switzerland, 61 per cent of respondents reported often using cash, followed by 58 per cent in Ireland, 51 per cent in France and 46 per cent in the Netherlands.
Northern European countries demonstrated the lowest reliance on physical currency, reflecting more advanced digital infrastructure and stronger consumer adoption of mobile wallets, cards and instant electronic payment systems.
Only 25 per cent of respondents in Sweden said they frequently used cash, compared with 32 per cent in Denmark and 42 per cent in Finland.
More than a quarter of Swedes said they never used cash, while 18 per cent of Danes reported the same, underscoring the rapid shift toward fully digital payment ecosystems.
In Germany and Austria, by comparison, only 2 per cent and 1 per cent of respondents respectively said they did not use cash at all.
Across all nine countries surveyed, 37 per cent of respondents said it was certain or very likely they would stop using cash entirely within the next decade.
The survey also revealed limited public awareness of the proposed digital euro project currently under discussion among eurozone policymakers and financial institutions across the region.
Around one-third of respondents in eurozone countries said they had not heard of the initiative being developed by the European Central Bank, which could launch as early as 2029.
Eurozone monetary authorities had repeatedly stressed that the digital euro would complement, rather than replace, physical cash, aiming to preserve consumer choice while modernising Europe’s payments infrastructure.
Foreign News
Hillary Clinton Testifies before U.S. Congress in Epstein Affair
Former U.S. Secretary of State Hillary Clinton is due to testify before the U.S. Congress on Thursday relating to the scandal surrounding sex offender Jeffrey Epstein.
Initially, Hillary Clinton, 78, is expected to testify under oath on Thursday, before her husband and former president Bill Clinton, 79, is questioned on Friday.
According to US media, they will be questioned not in Congress in Washington, but via video link.
These are expected to be closed sessions, so it is unclear how much information will be made public.
Hillary and Bill Clinton refused for months to testify before the U.S. Congress in the investigation of the Epstein case.
The Democrats accused the Republican chairman of the relevant House oversight committee, James Comer, of conducting a politically motivated process.
According to U.S. media reports, their agreement to testify in early February led to the Republicans cancelling a vote on a contempt of Congress procedure against the Clintons.
Bill Clinton’s name and pictures of him appear in documents related to the Epstein investigations.
However, a mention in itself means nothing.
The former president has repeatedly denied any wrongdoing in connection with his acquaintance with Epstein.
Epstein operated an abuse ring for years, victimising dozens of young women and minors.
The New York financier had excellent connections in U.S. high society.
He died in his prison cell in 2019, before a conviction could have been reached.
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