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NSE Lifts Suspension on Trading in RT Briscoe Shares

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Briscoe Nigeria shares

By Dipo Olowookere

The suspension earlier placed on the trading in the shares of RT Briscoe Nigeria Plc has been lifted by the Nigerian Stock Exchange (NSE).

The embargo, which was removed on Friday, now enables stocks of the company to be traded on the floor of the exchange.

The hammer was initially slammed on the auto firm earlier this month because the company, along with five others, failed to submit its financial statements to the NSE as required.

The five others suspended by the exchange were FTN Cocoa Processors, Medview Airline, Niger Insurance, Union Dicon and Capital Oil.

After submitting the required financial results, the NSE lifted the suspension on RT Briscoe Nigeria, making it possible for shareholders to trade the stocks again.

A notice from the NSE confirmed this development in a notice to the market on Friday.

“R.T. Briscoe Nigeria Plc, one of the six listed companies that were suspended on September 1, 2020, has now filed its outstanding financial statements with the exchange.

“In view of the company’s submission of its outstanding financial statements, and pursuant to Rule 3.3, of the Default Filing Rules, which states that; the suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided the exchange is satisfied that the accounts comply with all applicable rules of the exchange. The exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension, that the suspension has been lifted, dealing members are hereby notified that the suspension placed on trading on the shares of the R.T. Briscoe Nigeria Plc was lifted today, Friday, September 25, 2020,” the disclosure said.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Why Buy a Fuel-Efficient Second-Hand Car in Dubai?

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Second-Hand Car in Dubai

In Dubai, the city of high life, large roads, and costly automobiles, different types of cars are up for sale, both new and used. Flashy sports cars and high-end luxury cars might have stolen the limelight, but one important concern of many car drivers in Dubai is fuel efficiency. Choosing fuel-efficient used Ford cars in Dubai is a smart financial and ecological decision. In conclusion, with increasing fuel prices and high focus on sustainability, the act of buying a fuel-efficient used car in Dubai has massive benefits in the long run.

Why Buy a More Fuel-Efficient Secondhand Car in Dubai?

The reasons why you should consider a fuel-efficient used car when purchasing in Dubai are:

Save on Fuel Costs

The major reason to opt for a fuel-efficient car in Dubai would be the possibility of saving on fuel costs. Since the prices of fuel just seem to be continuously fluctuating, especially in the UAE, having a car with excellent mileage can make quite a difference in your monthly expenses.

Dubai is a big city, and it often involves long commutes to get to another part of town. Be it driving across the city to get to work or taking weekend trips across the UAE, a fuel-efficient car saves on fuel money. Cars averaging 15 km/l or more will save hundreds of dirhams annually compared to less efficient models. In a city where fuel prices remain a major consideration, the wise thing to do will be to choose a vehicle that uses less fuel.

Low Operating Costs

Fuel-efficient vehicles typically have smaller engines, which means lesser wear and tear on the engine in the long run. This usually means lower operating costs. As fuel-efficient vehicles are often built to last, the chances of their owners needing to deal with high-priced repairs are also limited.

Besides, many fuel-efficient cars have longer oil change intervals and fewer mechanical problems in general, which will save you money on routine maintenance. This is even more important when purchasing a used car, because while the initial cost of the car may be lower, you can make up for the reduced price by paying less in fuel and maintenance.

Adaptation to Dubai’s Driving Environment

For long and well-maintained highways in Dubai, the length of the way naturally leads to higher speeds. Fuel efficiency could make all the difference under such conditions. Designed for longer commutes and optimized fuel consumption, the difference these vehicles would make can only imply you get better mileage on the highway than those with thirstier vehicles at higher speeds.

Besides that, Dubai is known for heavy traffic during peak hours, and fuel-efficient cars perform well in stop-and-go conditions. They can maintain a good level of fuel economy even when driving in traffic, as opposed to older or larger vehicles that consume more fuel in such conditions.

Affordable Options Available in the Used Car Market

Avail the most fuel-efficient used cars in Dubai and get an affordable vehicle that will still help you enjoy the benefits of good mileage. The used car market in Dubai is very active, and a number of reputed dealers have cars that are not only economical but also reliable and well-maintained.

You can find quality Ford Mustang for sale in Dubai along with other leading brands like Toyota, Honda, Mazda, and Hyundai. Each offers great fuel economy at the most competitive prices. The desire to lower overall expenses from car ownership has encouraged more people to buy a used fuel-efficient car, as this does not require sacrificing quality for price. For the best deals on second hand cars, OneClickDrive is the go-to place.

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CIG Motors, Stanbic IBTC Bank Facilitate Affordable Vehicle Ownership

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CIG Motors Stanbic IBTC Bank

By Aduragbemi Omiyale

A partnership has been entered into between Stanbic IBTC Bank and CIG Motors to make it easier for Nigerians to acquire automobiles this season.

This comes at a time when many individuals and families are seeking affordable ways to own cars.

This deal will also provide incentives to customers purchasing through the Stanbic IBTC Vehicle and Asset Finance (VAF) product.

As part of this collaboration, CIG Motors is also giving a five-year warranty on all its GAC vehicle models.

It was gathered that the aim is to simplify the rigorous process of owning a brand-new vehicle, with a flexible-repayment structure, and a 10 per cent discount rate on all vehicles purchased within 12 months.

As the automotive market expands, collaborations like Stanbic IBTC Bank and CIG Motors are crucial for promoting customer satisfaction and fostering loyalty. The combination of quality vehicles and favourable financial solutions is set to transform the car-buying experience, making it efficient and enjoyable.

“Through this partnership, Nigerians are guaranteed to experience a premium and hassle-free process in owning brand new vehicles that suit their taste.

“CIG Motors’ expertise in the automobile sector, enhanced by Stanbic IBTC Bank’s Vehicle and Asset Finance (VAF) scheme, will allow equal opportunity for customers to own cars without stress or worry,” an Executive Director at CIG Motors, Jubril Arogundade, said.

Also, the Executive Director for Personal and Private Banking at Stanbic IBTC Bank, Mt Olu Delano, said, “The collaboration enhances the purchasing power of our customers, enabling them to access a broad range of brand-new vehicles under CIG Motors. It also highlights our commitment to fostering economic growth in the communities we serve.

“Stanbic IBTC Bank and CIG Motors’ collaboration illustrates a broader trend of growth between financial institutions and automobile manufacturers.”

CIG Motors is a renowned automobile company known for cutting-edge designs and reliable automobile brands. The scheme is open to individuals Nigerians (including the self-employed), and businesses seeking to expand their fleets.

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Police Arraign Motorist for Killing OYRTMA Official in Ibadan

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OYRTMA

By Dipo Olowookere

The police in Oyo State on Monday arraigned the driver of a back 4Matic Benz with registration number LSD 862 JS, for allegedly killing an official of the Oyo State Traffic Management Authority (OYRTMA), Mr Fabunmi Kehinde.

Business Post reports that on Saturday, the driver of the vehicle allegedly rammed over Mr Kehinde in the Agbowo area of Ibadan, the state capital after he disobeyed a traffic light in the area.

According to an eyewitness, the suspect, while trying to escape after being apprehended by OYRTMA officers, reversed his vehicle and in an attempt to zoom out, killed Mr Kehinde, who had approached the vehicle at the front.

It was said that the traffic control official sustained severe head injuries and was rushed to a hospital in Orogun, where he received treatment.

He was later transferred to another hospital within the Ibadan metropolis where he unfortunately passed away.

The driver attempted to flee the scene but was apprehended by OYRTMA officers and police personnel at the University of Ibadan (UI) area and was taken to Sango Police Station.

On Monday, he was arraigned at the Magistrate Court in Iyaganku, but the matter was later adjourned to Thursday,

Commenting on the incident, the chairman of the traffic control agency in Oyo State, Mr Adekoya Adesagba, described the death as avoidable, though he commended the swift response of the police and OYRTMA officers in apprehending the suspect and expressed his condolences to the family of the deceased officer.

“No one who disrespects or assaults our officers will go unpunished,” he said.

“The incident serves as a stark reminder of the dangers faced by traffic officers and the need for drivers to exercise caution and respect for the law.

“The suspect has been arraigned at the Magistrate Court, Iyaganku, today, but since the court was on a weekday break, the case was adjourned to Thursday. The suspect remains in police custody,” he added.

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