…I follow him and my wife alone on Instagram
The Group Chairman of Transcorp, Tony Elumelu has said Billionaire Femi Otedola is a very good friend.
TheNewsGuru.com, (TNG) reports, Elumelu made this disclosure in a chat with Arise TV after the company’s AGM.
Apparently reacting to the recent investment of Otedela into Transcorp, the Delta born Billionnaire said outside business, Femi Otedela is a very good friend.
He further explained, “Femi Otedola is a very good friend, there are only two people l follow on Instagram, my wife and Femi Otedola that tells you the level of friendship that we have.
” Is a man I admire and I respect and he is a friend, in fact we actually call ourselves brothers.
“So I welcome Femi Otedola’s investment in Transcorp, that is what we want, I mean come on, people get sentimental and emotional at times for no reason.
On whether this will not affect their relationship since there’s a commonality in their line of business, Elumelu said:
“And what is wrong, there can be a cross road. You know abroad or even in Nigeria, we go on financial road show, and what do we do? We go talk to investors to say please come and invest in our company.
“I am happy to see an indigenous active investor community and I am happy that Femi is investing in locally and he should be commended for that and I also welcome his investment in Transcorp because the more people show interest in the activities, in the performance of the company, the more people invest in the company, the better for our shareholders.
“You know, you want to make your stock investors toast and I am happy that Transcorp is becoming investors toast.
“If you remembered, about 10years ago before we took over Transcorp, people were not interested in Transcorp, even people who own shares, when I wanted to buy over Transcorp, people who owned shares of Transcorp didn’t even find their certificate because they’ve lost confidence in the company.
“Today under our leadership, Transcorp has consistently 5years over now paid dividend every year, it never happened in the history of the company before.
” There is capital appreciation for the company.
“So when friends and investing public come to invest in company like this, it’s a validation, it tells you that they believe in your story, they believe in your vision, they believe in your management, they believe in your leadership, they believe in your competence, that is what has been demonstrated.
“And I like my friend to come on board and I like the fact that he is on board and I look forward to working with him for us to take Transcorp to greater heights.