Dr. Anthony Idigbe (SAN) has refuted claims regarding the removal of directors from the board of Tourist Company of Nigeria Plc (TCN), stating that such matters were not listed in the notice or agenda for the cancelled Annual General Meeting (AGM).
Idigbe explained that neither the alleged retirement nor the removal of himself and Alhaji Abatcha Bulama both SEC-appointed representatives of Ikeja Hotel Plc (IHPLC)—was discussed at the Emergency Board meeting held on July 22, 2025, or slated for the AGM originally scheduled for July 25, 2025, which was cancelled by the Securities and Exchange Commission (SEC).
Despite SEC’s directive to maintain the status quo, some board members went ahead with the AGM in Lagos. In a statement issued on Sunday, Idigbe condemned an “unauthorised publication” by TCN claiming his removal as chairman, calling it a breach of both regulatory guidance and legal processes.
He disclosed that formal reports have been submitted to the SEC by the appointed directors, referencing the 2017 settlement agreement involving stakeholders of IHPLC, including Alex Ibru/OMA Investment and Goodie Ibru/AVI factions.
Idigbe added that the regulatory oversight was intended to safeguard IHPLC and its investee firms from collapse, resolve governance issues, and restore operational stability. He also criticized certain aggrieved shareholders for allegedly bypassing legal channels and using media influence to pursue unlawful actions.
