Founder Of ABC Transport, Frank Nneji Retires After 31 Years, Hands N1b To New CEO

Frank Nneji

In a significant transition for Associated Bus Company Plc (ABC Transport), Frank Nneji, the visionary founder of the company, has officially retired from his position as Chief Executive Officer after three decades of dedicated service. The renowned business mogul, who established ABC Transport in 1993, has passed the baton to his successor, Jude Nneji. While Frank Nneji steps down as CEO, he will continue to contribute his expertise as a Non-Executive Director on the company’s Board.

ABC Transport Plc embarked on its journey of road passenger transportation on February 13, 1993, as a subsidiary of Rapido Ventures, an enterprise with which it shares its roots. Reflecting on this momentous occasion, the Board of Directors expressed their heartfelt appreciation to Mr. Frank Nneji for his remarkable contributions, innovative mindset, and extraordinary vision, all of which have propelled the company to its current prominent position within the transportation and logistics sector. His unwavering dedication and relentless pursuit of excellence have played an instrumental role in shaping ABC Transport’s success.

Jude Nneji, the handpicked successor to Frank Nneji, assumes the role of CEO after serving as the company’s Deputy Managing Director. He embarked on his professional journey with Rapido Ventures Limited immediately after completing his studies in Pharmacy at the University of Nigeria. Having been an integral part of ABC Transport since its inception, Jude Nneji worked closely with the retiring MD/CEO, garnering invaluable experience during his tenure. With an impressive 18-year tenure as a member of the Board, he steps into his new position armed with over 27 years of expertise in the field of professional Transportation and Logistics.

As a publicly traded company on the Nigerian Exchange Limited, ABC Transport boasts a substantial share capital of 2,392,621,775, with each share currently valued at N0.41, as of the close of trade on Monday, June 3, 2023. With such a strong market presence, the company’s market capitalization stands at an impressive N980.9 million, a testament to its enduring success and solid market position.

Looking ahead, the transition in leadership at ABC Transport marks a new chapter in the company’s journey. With Jude Nneji at the helm, the company is poised to build upon its rich legacy, continuing to provide reliable, safe, and efficient transportation services to its customers. Nneji’s wealth of experience and deep understanding of the industry will undoubtedly guide ABC Transport towards further growth, innovation, and success in the dynamic and ever-evolving transportation and logistics sector. The company remains committed to its mission of delivering excellence in passenger transportation while embracing emerging technologies and sustainable practices that will shape the future of the industry.

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