Nigerian billionaire Femi Otedola sells 6.3% stake in Transcorp to chairman Tony Elumelu Nigerian billionaire Femi Otedola has sold his 6.3% stake in Transnational Corporation Plc (Transcorp) to its chairman, Tony Elumelu. On Thursday, Transcorp's group chairman, Elumelu, purchased Otedola's shares at the closing price using an options contract that will be paid in a series of installments over time. Reportedly, both parties believed that reaching an agreement was in their best interests. READ ALSO: Transcorp: Femi Otedola acquires 5.52% stake, becomes second largest shareholder The negotiations leading up to the agreement were brief...