ABC Transport Founder Retires After 30yrs, Hands N1b Company To Brother

30 years after, the founder of Associated Bus Company Plc (ABC Transport), Frank Nneji has officially retired from the company he founded back in 1993. The business mogul who has served as the Chief Executive Officer of the transport company has handed his role to Jude Nneji. Frank Nneji will Howe “continue to serve as a Non-Executive Director on the Board,” the company said.

ABC Transport Plc commenced road passenger transportation on February 13, 1993 as an off-shoot of Rapido Ventures.

“Board of Directors hereby expresses its gratitude to Mr. Frank Nneji for all his
sacrifices, innovations and outstanding vision which has placed the Company at its present height in the transportation and logistics sector,” ABC said.

The founder’s successor, Jude Nneji was the company’s Deputy Managing Director. He began his career with Rapido Ventures Limited immediately after his graduation from the University of Nigeria where he studied Pharmacy. The company said, ” He served under the retiring MD/CEO and has been in the Company from its inception. He has over 18 years of experience as a member of the Board. He steps into this new role with over 27 years of experience in professional Transportation and Logistics.

The company which trades on the Nigerian Exchange Limited has a share capital of 2,392,621,775 with a share price of N0.41 as of the close of trade on Monday, June 3, 2023. The company’s market capitalisation is worth N980.9m.