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COVID-19: FRSC Arrests 144 Transporters for Overloading

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sirens Nigeria FRSC

By Adedapo Adesanya

The Federal Road Safety Corps (FRSC) said no fewer than 144 transporters have been arrested for overloading during this coronavirus period across 16 states of the federation.

Corps Public Education Officer of the agency, Mr Bisi Kazeem, said in a statement that The highest number of arrests was recorded in the Federal Capital Territory (FCT) where a total of 52 overloaded vehicles were impounded, followed by Lagos State with a total of 17 arrests.

Others include Plateau State with 14, Delta 13, Benue nine, Adamawa and Katsina with six arrests each.

He stated that Nasarawa and Ogun State have recorded five arrests each, Niger and Kwara recorded four each, Osun three, Rivers and Akwa Ibom had two each with Zamfara and Enugu recording the lowest arrest of one in each state.

The Corps’ spokesman urged transporters to maintain social distance amongst passengers in vehicles so they can help fight the spread of the deadly virus.

Meanwhile, the agency has directed all categories of transporters to ensure full compliance with regulations on compulsory passenger manifest in order to help reduce the potential spread of coronavirus among passengers.

The agency made the order according to provisions of Regulation 108 (1) of the National Road Traffic Regulation (NRTR) 2012.

Mr Kazeem said the Corps Marshal, Mr Boboye Oyeyemi, directed all public transport operators to imbibe necessary precautionary measures in their parks and terminals, adding that failure to adhere strictly to this order will attract the necessary sanctions.

According to him, Mr Oyeyemi gave the order because despite the spread of the virus, public transport operators continued to board passengers to full capacity without consideration to social distancing, passenger manifest and seat spacing of passengers.

It was disclosed that this behaviour was unhealthy and if not put to check on time, it has the potentials to spread the virus.

As a result, all passengers travelling; not only during the epidemic regime but at all times, have been obliged to write down their full information in the passenger manifest before commencement of the trip.

It was also directed that putting down details of passengers on a manifest is a mandatory and acceptable practice all over the world, that the document contains basic information including contacts of next of kin of all the passengers travelling in the vehicle for ease of identification and contact in the case of any emergency.

He warned passengers to comply by filling the passenger manifest before their journey commences as any transporter who violates this order will be made to face the wrath of the law when apprehended.

He noted that the emphasis on the need for compulsory adherence to the NRTR 2012 provision is to make sure that details of all passengers conveyed in each vehicle are adequately collected so as to arrest further spread of the virus per chance any of the passengers is tested positive even after the trip.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Autochek Begins Loan Services for Brand New Cars, Trucks

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Autochek loan services

By Modupe Gbadeyanka

As part of its efforts to deepen mobility, the leading auto tech platform, Autochek Africa, has launched a loan services platform to allow users to get the credit facility to acquire brand new vehicles.

A statement issued by the firm said users can access the loans for the purchase of the new cars and trucks through a dedicated brand new cars section on the Autochek website and mobile app.

It was stated that through this digital financing package, customers can make repayments in 60 months at the lowest interest rates in the market from regional partners such as Ecobank and NCBA with a zero per cent equity loan product and Access Bank and Stanbic KE with unique financing solutions tailored specially for brand new vehicles with up to 90 per cent financing.

On the Autochek auto loan services platform, customers in East and West Africa can access a variety of financing options to purchase new cars and trucks from reputable manufacturers.

So far, the platform has on-boarded a network of financing partners and over 30 vehicle brands from OEMs, including key regional players like Inchape (LandRover)  and CMC (Ford and Eicher Trucks) in East Africa and Dana (Kia), Coscharis (BMW, Landrover), Globe (Mercedes Benz), Elizade (Toyota) in West Africa.

Autochek is also working closely with indigenous manufacturers such as Innosson Motors and Nord Motors.

As part of the investment by Mobility54, Autochek has also partnered with CFAO (Toyota, Suzuki, Mitsubishi) across Africa to facilitate auto financing for all CFAO brands.

“We are excited to partner with financiers and the automotive industry to provide this facility. It is in response to customer feedback to democratise the purchase of brand-new cars through great and affordable financing options.

“It is complemented by Autochek Africa’s residual value analysis tool that can guide financial partners on the condition of the vehicle over time,” Autochek Africa’s COO, Timi Tope Ologunoye said.

The Autochek auto loan services platform offers a variety of financing options from over 70 banks, with attractive terms that include a 15 per cent interest rate and is repayable for a period of between four and five years. The loans are also processed within 24 hours.

Timi added that financing for new cars is part of the company’s vision to unlock a new frontier of automotive fintech and cement its position as the most innovative auto loan platform in the region.

Whereas customers are assured of a good deal for brand new cars and attractive interest rates, distributors also get pre-approved prospective buyers.

According to research, the African automotive estimated market size is currently valued at $90 billion in 2020, and this is expected to grow by 30 per cent largely driven by an increase in financing penetration at 10 per cent year-on-year.

Due to the impact of COVID last year, there was a decline in overall sales of new cars due to restrictions on production but is fast regaining momentum as economic activities resume.

Autochek’s SVP West Africa, Dr Mayokun Fadeyibi said: “We are on a mission to accelerate motorization across Africa by providing financing for brand new and used imports for our customers.”

With shifting consumer demands, the Autochek platform is building on partnerships opportunities with automotive manufacturers and financiers, to innovatively provide a more agile, tech-led approach to deliver options.

The company plans to extend its brand-new automobile portfolio through multiple carrier partners within the Autochek platform by the end of the year, with the goal of launching over 300 new cars listed across all markets.

The Autochek mobile app is currently available on Android and is due to be launched soon on iOS.

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ABC Transport to Raise N394.5m from Shareholders

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ABC Transport

By Dipo Olowookere

One of the major players in the transportation industry in Nigeria, ABC Transport Plc, is looking to raise fresh capital, about N394.5 million, from its shareholders.

The company is seeking funds from investors through the sale of shares of the organisation and this is by a rights issue.

Already, it has submitted an application to the Nigerian Exchange (NGX) Limited for approval to list when eventually issued to qualifying shareholders.

A notice from the exchange disclosed that the application was filed by the stockbroker of ABC Transport, FSL Securities Limited.

The firm intends to sell over a billion units of its equities at 35 kobo each on the basis of 68 new shares for every 100 shares held by investors, with the qualification date at November 30, 2021.

“Trading license holders are hereby notified that ABC Transport Plc has through its stockbroker, FSL Securities Limited, submitted an application to Nigerian Exchange Limited for the approval and listing of a rights issue of one billion, one hundred and twenty-seven million, two hundred and thirty-six thousand (1,127,236,000) ordinary shares of 50 Kobo each at 35 kobo per share, on the basis of 68 new ordinary shares for every 100 ordinary shares held.

“The qualification date for the rights issue was Tuesday, November 30, 2021,” the disclosure from the exchange stated.

ABC Transport, which commenced operation in road passenger transportation on February 13, 1993, as an off-shoot of Rapido Ventures, operates luxury bus services across the country and also outside the country.

The company has recorded remarkable achievements in the transportation sector, resulting in various awards, including the Best Transporter in Nigeria by the Chartered Institute of Transport, Nigeria.

In March 2003, Capital Alliance Private Equity (CAPE) acquired 30 per cent shares of ABC Transport, a deal which re-positioned the company for greater performance.

Business Post reports that last week, on the floor of the local exchange, the shares of ABC Transport appreciated week-on-week by 3.03 per cent to 34 kobo per unit as against the preceding week’s value of 33 kobo per unit.

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Ibadan Tanker Explosion: OYRTMA Issues Traffic Advisory

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OYRTMA

By Aduragbemi Omiyale

The Oyo State Road Transport Management Authority (OYRTMA) has advised road users to use alternative routes, while its men and other relevant agencies strive to return normalcy to the route.

This traffic advisory became necessary following an explosion of a petrol-laden tanker along the Agodi area in Ibadan, the state capital.

The Chairman of OYRTMA, Mr Akin Fagbemi, in a statement on Friday, stated that efforts were being made to bring the situation under control.

He stated that “the incident, which resulted to the slagging of powered electric poles and cables dangling across the road, portends danger to motorists plying the route hence, in the interim, the authority has barricaded the way from Total-Garden to Agodi-Gate, Ibadan to enable safety officials of relevant government agencies evacuate the affected vehicles and restore normalcy.”

“Motorists are advised to navigate towards the State Secretariat at the Total-Garden Round-about to link the Government Road towards the Kola Daisi Civic Center inwards Agodi-Gate to Iwo-Road,” he disclosed.

“Alternatively, Motorists could opt for the Premier Hotel road to link the State Secretariat and move as above.

“From Beere to Iwo-Road Motorists are advised to take the Oje-Market to link Agodi-Gate inwards Iwo-Road.

“Another alternative is for motorists to move from the State Secretariat and navigate Ikolaba via the Nigerian Customs Zonal Hq. to get to Iwo-Road, Ibadan,” he further stated.

The agency beseeched commuters to drive carefully around the affected area as its men and officers are working concertedly with relevant agencies to restore normalcy in the shortest time possible.

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