Outrage in Elepe as Monarch Exposes Notorious Land Grabber, Adeyinka Bolaji Fakoya aka Bora’s Crimes

…Says Endless Police Harrassment Frustrating, Disturbing Community Peace

The Baale of Elepe community in the Ikorodu area of Lagos State, Chief Ganiu Omotayo, has cried out to the state governor, Babajide Sanwo-Olu and the Inspector General of Police IGP Kayode Egbetokun, to intervene and put an end to the menace caused by protracted land grabbing activities of one Adeyinka Bolaji Fakoya aka Bora and his cohorts in the community.

The aged monarch lamented that Adeyinka aka Bora and his accomplices have also been involved in criminal intimidation, violence, evading judicial processes, threat to life, giving false information to police, and breaching public peace of the community.

Addressing the media on Wednesday in Elepe in the company of representatives of all five arms of the royal families of the town, Omotayo said he and the Ijaolu rulling royal family have become very frustrated by their inability to get justice after exploring legal options including taking many expensive trips to honour invitations at police headquarters in Abuja over the matter as the notorious land grabbers, led by Adeyinka have continued to sell lands duly owned by people for decades with clear titles, and evade judicial prosecution while truncating effort of various police formations to curb his ciminal and atrocious activities and bring him to justice.

The landgrabber has instead perfected a habit of courting different police formation with false information, for endless and indiscriminate arrest and intimidation of the aged monarch and community youths, while refusing to attend susbsisting police interviews with parties, and prosecution processes.

“As an elder, I’m tired of the endless circle and Adeyinka has refused to let peace reign despite all offers the community has extended to him which he usually takes before resuming his violent activities again. Even when we gave him and youths acres of land, he accepted and sold it but returned to his criminal ways thereafter.

“Once he writes one frivolous petition to police and I attend their invitation, he will not show up for interview, the next we will hear is another petition in another police formation. When they invite us and I attend, he will never show up. He did that at SCID, Panti, also at Zone 2 Command Headquarters, Onikan Lagos, and also at
Inspector General of Police Monitoring Unit, Force Headquarters, Abuja. He has been playing this hide and seek game but refused to show up at Area N Police Area Command in Ijede, Ikorodu where he is a wanted person for jumping bail since 2017.

“Even when we went with police officers from Ijede Area Commander to the lands unlawfully invaded by Adeyinka, we met him and his cohorts in company of some other police officers. It was decided that all parties and the two police groups return to office of Area Commander but enroute police station, Adeyinka vanished leaving us to wait out the entire day at Area Commander office but he never showed up since then.”

The visibly worried traditional ruler narrated how Adeyinka invaded and started selling lands owned by late Chief GOK Ajayi, SAN, since 1975, to unsuspecting buyers from 2016 and despite being warned refused to stop and as a result was arrested and arraigned. Due to his unrepentance, a petition to Area N Police Command by the community led to his arrest but he later ran away with his surety and since became untraceable by police.

He added that having spent almost 50 years on throne as the monarch of Elepe town, he and the ijaola Royal family members have become perplexed by indiscriminate harrassment from some police officers acting on instructions of Adeyinka, as well as having to endlessly bear the financial burdens of at least five visits to Police Headquarters in Abuja and many offices in Lagos, with no result while the culprit remains untouchable for the police and stayed away from lawful prosecution.

He revealed that Adeyinka at will comes to town in company of violent cultists with guns and other dangerous weapon to cause unrest and threatened his life.

He said he enjoyed the majority support of the lawful youths of the town because as a father after the youths had initially requested for share of community land, he had ensured the community gave out two acres to them, prompting them to sign undertaking to support the traditional leaders and maintain peace.

Adeyinka however had after exhausting the sales of the lands greedily proceeded to grabbing already owned lands and fomenting chaos with the elders, prompting other community youths to dissociate from him and his nefarious activities.

He appealed to the government and police authorities to save him and the royal family from the dilemma of the huge cost of attending endless meetings in Abuja while the assailants appear untouchable in Lagos, evading prosecution.

One of his numerous petitions to the police authorities on December 14, 2017 , signed by his lawyers read in part, “According to our Client, one BOLAJI ADEYINKA (A.K.A BORA) a notorious and dangerous criminal popularly known for his act of land grabbing, encroachment and selling of other people landed properties has continued to exert efforts to truncate the effort of various Potice formations to curb his ciminal and atrocious activities in order to avoid the lonig arm of the law.

“That sometime in 1975, our Client’s forefather sold portion of the land at Ewu Elepe to various persons, and these people have been in peaceful possession and quiet enjoyment of their landed properties until sometime last year when our Client received a call from Mrs. Ajayi who informed our Client that the said Bolaji Adeyinka A.K.A (BORA) encroached on her husband’s land and sold portions
thereof to unsuspecting buyers.

“That our Client who did not have prior notice of the unlawful and criminal
activities of the said Bolaji Adeyinka and his cohorts warned the said Bolaji Adeyinka to desist from his unlawful and criminal dealings with other people’s lands but despite our Client’s warnings the said Bolaji Adeyinka continued in his unlawful and criminal activities and as a result of which he was arrested by the police and arraigned before the Magistrate Court of Lagos State, Ijede, via Ikorodu, Lagos State in Charge No. IKD/E/06/2017.

“That thereafter, the said Bolaji Adeyinka did not stop in his criminal activities, he
intensified his acts of encroaching other people’s landed properties resulting in breach of peace, and public tranquility and our Client wrote a petition to the Area
Commander, Area N Command Headquarters. ljede, via Ikorodu, Lagos State, and upon which the said Bolaji Adeyinka was arrested by the police and granted bail with surety, and directed to report to the said police station on a later date.

“That the said Bolaji Adeyinka and his surety ran away and did not comply with the directive to report to the police at the said Area N Command Headquarters, Ijede, via Ikorodu, Lagos State and all efforts to trace them by the police were abortive until sometime in July, 2017 when our Client received an invitation from the office of the Deputy Commissioner of Police, SCID, Panti, Yaba, Lagos directing our Client to report to Officer in Charge, General investigation (D”), SCID, Panti, Yaba, Lagos.

“That upon the above, our Client honoured the said invitation and went to the said
Officer in Charge, General investigation (D3), SCID, Panti, Yaba, Lagos on 30th May
2017 where our Client’s statement was obtained, and the parties again directed to
attend an interview with the Officer in Charge, General investigation (D3), SCID, Panti, Yaba, Lagos on several occasions but on all such occasions, and throughout the period our Client reported to the said Officer in Charge, General investigation (D’),. SCID, Panti, Yaba, Lagos the said Bolaji Adeyinka (A.K.A BORA) refused to show up, and upon which the said Officer in Charge, General investigation (D’), SCID, Panti, Yaba, Lagos returned the case file to Area N Command Headquarters, ljede, via Ikorodu, Lagos State.

“That as soon as the said Bolaji Adeyinka realized that the police at General
investigation(D”), SCID, Panti, Yaba, Lagos could not to be used as a tool for the
perpetration of his unlawful and criminal activities, the said Bolaji Adeyinka again
wrote another petition to the Assistant Inspector General of Police, Zone 2 Command Headquarters, Onikan Lagos, and our Client was again directed to report to the Officer in Charge, Zonal Monitoring Unit; Nigeria Police, Zone 2 Command Headquarters. Onikan Lagos: vide
an invitation with AR: 3000/SZN.2/MTV/TM2/VOL.1. Dated. 7th of July, 2017.

“That our Client again honoured, the said Police Invitation and as a good citizen
volunteered his statetent to the police, and the parties were again directed to come
for an interview with the -Officer in- Charge, Zonal Monitoring Unit, Zone 2 Command.

“That recently our Client again received a letter of invitation from the office of the
Inspector General of Police Monitoring Unit, Force Headquarters, Loius Edet House, Shehu Shagari Way, Abuja by which invitation it is so glaring that the said Bolaji
Adeyinka again intends to use the said police formation to truncate ongoing
investigation into the matter and prevent the possibility of his being arraigned-in court for his numerous criminal activities by the police at General Investigation, Force
Headquarters, Alagbon, Ikoyi, Lagos.

“That upon the preceding paragraph, our Client who live in Lagos had once again been directed to report to the police at the Inspector General of Police Monitoring Unit
Force Headquarters, Loius Edet House, Shehu Shagari Way, Abuja without any regard for the enormous cost, expense and risk such a journey portend to our Client who is a pantry community leader in Ewu Elepe, via lkorodu, Lagos State.

“Our Client is of the sincere belief that the the matter for which our Client is being
summoned by the police, at the Inspector General of Police Monitoring Unit, Force
Headquarters, Loius Edet house, Shehu Shagari Way Abuja is already being effectively handled by the police at General Investigation, force Headquarters, Alagbon, Ikoyi, Lagos and for the fact that both parties reside in Lagos till date, it will serve the ultimate end of justice if the matter is left for the police at General Investigation, Force Headquarters. Alagbon., Ikoyi, Lagos for the conclusion of investigation into the matter
in the interest of all concerned.

We as Solicitor on behalf/of our Client-humbly pray that you look into this matter and prevent the desperate efforts of the said Bolaji Adeyinka. (A.K.A BORA) and his cohorts to use the Nigeria Police as a tool in an attempt to escape prosecution for their criminal activities by bringing them to book.”

Transcorp Group delivers impressive Q1 2024 performance; sustains revenue growth of 173% and PBT of N45 billion

Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading, listed conglomerate with investment in the Power, Hospitality, and Energy sectors, has announced impressive Q1 financial results for the period ended March 31, 2024.

In its Q1 2024 unaudited results, Transcorp reported significant year-on-year growth, with revenue rising to N88.6 billion from N32.4 billion in 2023, representing a 173% increase.

The impressive results are largely driven by a remarkable 209% year-on-year revenue growth within the power business, highlighting significant strategic progress as part of Transcorp Group’s implementation of its integrated power strategy.

The hospitality business recorded a 68% year-on-year growth in revenue, driven by an increase in occupancy rate from 75% to 82% compared to the previous year.

The results show substantial growth across all financial indicators, reinforcing its market leadership and strategic positioning.

Highlight of Transcorp Group Results:

• Q1 2024 Revenue was N88.6 billion, a significant increase of 173%, compared to Q1 2023.
• Operating income increased by 479%, from N8.5 billion in Q1 2023 to N49.1 billion in Q1 2024.
• Operating expenses saw an increase of 40% year on year to N8.2 billion in Q1 2024, reflecting the impact of inflation and cost of operations.
• Net finance cost increased by 14% to N3.7 billion in 2024 from N3.2 billion in 2023 due to a slightly higher interest rate review in line with MPR.
• Profit before tax from ordinary business of the Group  surged by 1110%, amounting to N34.7 billion in Q1 2024, compared to N2.9 billion in Q1 2023 in the same period last year.
• Profit before tax inclusive of extra ordinary income was N45.7 billion in 2024 compared to N2.9 billion in 2023.
• The Group recorded extra ordinary income of N11 billion during the period from the realised gain from the sale of shares.
• Profit after Tax including the extra ordinary income improved 1832% year-on-year to N35.9 billion in Q1 2024, compared to N1.9 billion in Q1 2023 in the same period last year.
• Earnings per share of the Group was N61.12k in Q1 2024, compared to N2.58k in Q1 2023.
• On the balance sheet, total assets grew by 8.3%, from N530 billion in December 2023 to N574 billion in Q1 2024 due to the increase in operational activities.
• Shareholders’ funds increased by 20% from N187billion in December 2023 to N224 billion at the end of Q1 2024 due to profit accreted to retained earnings.

In response to the results, Dr. Owen D. Omogiafo, President/Group Chief Executive Officer of Transcorp, commented, “Our Q1 2024 results demonstrates Transcorp Group’s resilience and commitment to excellence. Despite the challenges, we achieved growth across all major indices, focusing on operational efficiency at both our power plants, and maximising opportunities within our hospitality business, showing our ability to adapt and succeed in changing markets. We will continue to deliver sustainable growth, operational efficiency, and value for our shareholders.”

This robust achievement is a further demonstration of the Group’s strategic focus and effective execution. Transcorp is dedicated to its transformation agenda, emphasising sustained growth and a relentless pursuit of long-term value for shareholders.

About Transnational Corporation Plc (Transcorp Plc)

Transnational Corporation Plc (Transcorp Group) is a leading, listed African conglomerate, with strategic investments in the power, hospitality, and energy sectors. Driven by its mission to improve lives and transform Africa, Transcorp has built a longstanding reputation for sector transformation, operational excellence, and exceptional financial performance, delivering value to its shareholders.

In the power sector, Transcorp’s businesses – Transcorp Power Plc and Transafam Power – provide over 16% of Nigeria’s installed power capacity. Through its investments in the energy sector including OPL287, Transcorp is developing Nigeria’s domestic energy value chain. The Group’s listed hospitality business, Transcorp Hotels Plc, owns the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality destination, and Aura by Transcorp Hotels, a digital hospitality platform enabling travellers to book accommodation across Africa.

NANS Cautions Members On Blackmail, Dirty Politics

– Says Minister Is On Top Of The Situation

The National Association of Nigerian Students (NANS) has cautioned its members nationwide on the blackmail and calls by some section of the national body on the sack of the Minister of Power, Chief Adebayo Adelabu.

In a statement made available to journalists in Abuja, Dist. Senator Ekundina Segun Elvis,
President of the Senate (NANS), also called for the arrest of a self acclaimed NANS Leader, Akinteye Babatunde Afeez, whom he described as an impostor.

Ekundina described the statement credited to Akinteye as subtle blackmail and a propaganda to discredit the Minister, who is working assiduously on the mandate of President Bola Ahmed Tinubu, to sanitise, make the power sector more efficient and guarantee regular electricity supply to Nigerians.

He said the calls for the removal of both Adelabu and the Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, is misguided at this crucial time when both are consistently providing solutions and keeping Nigerians updated about their vision for sustainable growth in both sectors critical to the development of the country.

The NANS Senate President said, “The press release in question targets two crucial aspects of our nation’s development: the hike in petrol price and electricity instability. It is interesting to note that the attack is directed solely at the Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPCL) regarding the petrol price hike, while the Ministers of State for Petroleum Resources, who oversees both oil and gas, is conspicuously ignored. This biased approach clearly suggests a hidden agenda and raises questions about the true motives behind this press release.

“Turning to the issue of electricity, it is disheartening to see the Honorable Minister of Power being attacked unjustly. Chief Bayo Adelabu has taken the time to address the nation on multiple occasions, explaining in great detail the complexities surrounding the instability of electricity in our country. He has outlined the steps being taken to resolve these issues, including the stages of implementation, debt repayment, and addressing the existing gaps.

“His explanations have been comprehensive, offering hope that the electricity situation will improve in due course.

“It is evident that this press release is sponsored by the opposition and individuals seeking to tarnish the image of Chief Bayo Adelabu. The history of the self-acclaimed NANS leader, Akinteye Babatunde Afeez, known for attacking personalities for financial gains, raises serious concerns about the credibility and authenticity of this press release.

“A typical example was his self demeaning and blackmail press he released to attack the DG of the National Orientation Agency (NOA). It is clear that the intention here is not to address the issues at hand but to damage the reputation of the Honorable Minister and his contributions to the development of our nation and the Renewed Hope agenda of President Bola Ahmed Tinubu GCFR.

“We issue a stern warning to the writer of this attacking press release and their co-sponsors. While the self-acclaimed NANS leader’s studentship is subject to investigation, we call upon the public to stand against misinformation and propaganda. We urge the security agencies to be vigilant and prevent any illegal gatherings disguised as protests, as they are undoubtedly sponsored by the opposition to disrupt the Renewed Hope Agenda of President Bola Ahmed Tinubu GCFR.

“We also call upon President Bola Ahmed Tinubu, GCFR, to be aware of these miscreants who falsely claim to be student leaders. Their sole objective is to attack and destroy the Renewed Hope Agenda of his administration. However, we want to assure the public, the student community, and the youth that we are closely monitoring these developments.

“We firmly believe that President Bola Ahmed Tinubu GCFR will succeed in his endeavors, and no amount of propaganda will derail the progress we are making as a nation.

“This press release is nothing more than a funded propaganda campaign aimed at defaming Chief Bayo Adelabu, the Honorable Minister of Power. We have exposed the hidden motives and called for action against those responsible for disseminating such misleading information. We remain committed to ensuring the truth prevails and that the Nigerian people are not swayed by baseless attacks,” Ekundina stated.