The Accountant General of the Federation, Oluwatoyin Madein, has been chosen to be a Non-Executive Director at Transcorp Hotel.
The Group Company Secretary, Stanley Chikwendu, revealed this information in a letter sent to the Nigerian Exchange Limited on Tuesday.
As per the letter, Madein has been selected to act on behalf of the Federal Ministry of Finance Incorporated, which is a major shareholder of the company.
Over the years, MOFI, through its enabling Act, has been responsible for managing a significant portfolio of Federal Government investments, which include about 130 asset classifications, such as Government Owned Entities and Government Linked Companies where it holds a majority stake in more than half of them.
The letter states, "We are writing to formally alert the investing public and the Nigerian Exchange Limited that the Board of Directors of Transcorp Hotels Plc ('the Company'), on March 5, 2024, approved the appointment of Dr Oluwatoyin Madein as a Non-Executive Director.
“Dr Madein represents the interest of one of the Company’s significant shareholders, the Ministry of Finance Incorporated, on the Board. Dr Madein is currently the Accountant-General of the Federation and has served variously as Assistant Director, Deputy Director and Director, Finance and Account in the Federal Civil Service.
“She is an alumnus of Walden University, USA, where she earned her PhD in Management (Finance). She also attained an MBA from Ogun State University.
“Dr Madein is a Fellow of several professional bodies, including the Association of Chartered and Certified Accountants, UK, Institute of Chartered Accountants of Nigeria, and the Association of National Accountants of Nigeria, among others.
“As a company that places great importance on governance as a performance facilitator, we believe that this appointment will further enhance the Board’s oversight functions, and thereby improve value creation and delivery for all shareholders.”
