Nigerian executive Owen Omogiafo, president and group chief executive officer of Transnational Corporation Plc (Transcorp Group), has increased her holdings in the Lagos-listed group after purchasing 1.9 million shares, according to a regulatory filing released on July 29.

Transcorp CEO deepens equity commitment

The filing showed the purchases were executed over two trading days on the NGX. Omogiafo acquired 1,848,000 ordinary shares at N39.02 apiece on July 27 and a further 52,800 shares at N40.75 each on July 28. The transactions brought her total acquisition to 1,900,800 shares at an average price of N39.89 per share, for a total investment of N75.83 million ($55,700).

The latest acquisition further strengthens Omogiafo’s personal holding in the company she leads. As of June 30, 2026, she owned 6,872,769 Transcorp shares, representing a 0.07 percent stake in the diversified group. Following the latest purchases, her holding increased to 8,773,569 shares. Based on Transcorp’s market price at the time this report was prepared, the stake is valued at about N368.5 million ($271,200).

Owen Omogiafo drives Transcorp’s expansion

Transcorp, the diversified conglomerate controlled by Nigerian billionaire Tony Elumelu, has operations across electricity generation, hospitality, energy, real estate and agro-allied services. Its portfolio includes Transcorp Power Plc, Trans Afam Power Limited, Transcorp Hotels Plc, Aura by Transcorp Hotels, Transcorp Energy Limited and several real estate businesses.

The share purchase comes as Transcorp continues to expand its asset base. Under Omogiafo’s leadership, the group’s total assets rose above $790 million during the period, reflecting continued investment across its power, hospitality and energy businesses. According to its unaudited financial statements for the six months ended June 30, 2026, total assets increased to N1.09 trillion ($797 million), up from N1 trillion ($730.6 million) at the end of 2025.

Balance sheet strength improves

For the first six months of 2026, Transcorp reported revenue of N241.53 billion ($176.5 million), while profit after tax stood at N54.37 billion ($39.7 million). Shareholders’ equity increased to N367.84 billion ($269 million) from N353.39 billion ($258 million), while retained earnings rose to N197.78 billion ($144.5 million) from N181.18 billion ($132.4 million), reflecting the group’s continued retention of earnings across its businesses.