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SCOA Gets N15.5bn Loan from Heritage Bank, Others to Supply Items to Julius Berger

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By Aduragbemi Omiyale

To aid the construction of 380km Abuja-Kaduna-Kano road and many others across the country by Julius Berger Nigeria Plc, SCOA Nigeria Plc received a credit facility worth N15.5 billion from eight local financial institutions to supply some items to the construction giant.

The lenders that financed the importation and supply of MAN Platform Trucks and equipment to Julius Berger for the projects were Heritage Bank, Zenith Bank, Wema Bank, UBA, Union Bank, Unity Bank, Coronation Merchant bank and Providus Bank.

Business Post gathered that out of the total amount, Heritage Bank availed SCOA an Advance Payment Guarantee (APG) of N4.64 billion for the projects.

The N15.5 billion covers 33 trucks and technological equipment. For the first phase, the company handed over 16 trucks to Julius Berger. The second phase of delivery will be executed next month.

At a ceremony to hand over the items to the firm, the MD/CEO of Heritage Bank, Mr Ifie Sekibo, stated that the support efforts through project financing in the various sectors of the economy were one of the platforms that underscore his bank’s resolve and readiness to make a mark in the financial sector as a major pivot of socio-economic transformation of the country.

The Regional Head, Lagos Mainland Zone of Heritage Bank, Mother Dan-Egwu, who represented Mr Sekibo at the event, said the bank partnered to support SCOA Nigeria Plc for its long and outstanding presence in the automobile market, by retaining the cutting edge in their line of business.

“For us at Heritage Bank, our core business philosophy as a timeless wealth partner to our customers is captured in our mission to create, transfer and preserve wealth,” the banker said.

Earlier in his address, the GMD/CEO of SCOA, Dr Massad Boulos, commended Heritage Bank and the other banks’ roles, as the transactions were made possible through their solid partnership.

“I will also thank Heritage bank, their Directors, MD; Unity Bank and other senior bankers official & the entire team of banks, they’ve worked closely together with us on this project, same with Providus Bank, they all have worked together tirelessly for the success of this project,” he said.

According to him, this partnership is like no other considering the parties involved especially SCOA Motors and Julius Berger in the official hand over of state of the art modern trucks for use on the road constructions’ equipment for the execution of the biggest and the most significant project in Nigeria; the Abuja/Kaduna/Kano expressway.

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Demolitions: inDrive Shares N75m Relief Packages to Displaced Lagos Residents

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By Modupe Gbadeyanka

Over N75 million worth of relief materials have been provided by foremost ride-hailing platform, inDrive, to residents of Lagos State displaced by recent demolitions in the metropolis.

The company partnered with Tolu Aniwura Welfare Foundation (GenerousMe) to distribute essential food, clothing, and school supplies to more than 2,000 affected individuals and families.

At the distribution of the items at St. Paul Catholic Church, Ebute-Metta, the Country Representative for inDrive Nigeria, Mr Timothy Oladimeji, explained that the initiative reflects the company’s people-first approach and its commitment to responding directly to urgent community challenges while maintaining a focus on long-term empowerment across its markets.

“At inDrive, we believe that our responsibility goes beyond providing mobility services; it extends to standing with communities during moments of need.

“The recent demolitions left many families vulnerable, and through our partnership with GenerousMe, we were able to respond quickly and responsibly. This intervention reflects our commitment to fairness, empathy, and ensuring that people remain at the centre of everything we do,” Mr Oladimeji said.

It was gathered that the support also extended to individuals who had previously benefited from inDrive-backed social impact programmes, reflecting the company’s continued commitment to empowering vulnerable communities across Nigeria.

The relief packages included essential dry food items such as rice, beans, garri, noodles, spaghetti, cooking oil, tomato paste, seasoning cubes, and salt. Beneficiaries also received clothing, blankets, sleeping mats, mosquito nets, rechargeable lamps, power banks, and baby care items, as well as school packs containing bags, exercise books, and writing materials for children.

In his remarks, the Partnerships Lead for GenerousMe, Mr Adetola Alade, said, “Partnering with inDrive enabled the timely and coordinated delivery of aid. We prioritize speed and collaboration in responding to urgent humanitarian needs, and working with inDrive on this project was a great experience.”

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UK to Facilitate Quick Return of Stolen $9.5m for Abuja-Kano Road

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By Adedapo Adesanya

The United Kingdom is facilitating a quick process to return $9.5 million in recovered stolen funds to Nigeria to help fund the completion of the ongoing Abuja-Kano Road.

According to a statement on Friday, His Majesty’s Attorney General for Jersey, Mr Mark Temple, signed a Memorandum of Understanding (MOU) in December 2025 to facilitate the return of the loot.

Recall that on November 29, 2023, the Attorney General applied to the Royal Court of Jersey under the Forfeiture of Assets (Civil Proceedings) (Jersey) Law 2018 in respect of tainted property held in a Jersey bank account. On January 12, 2024, the Royal Court granted a forfeiture order after determining that the funds were more likely than not the proceeds of a corrupt scheme in which third-party contractors diverted government monies for the benefit of senior Nigerian officials and their associates.

The MOU builds on two previous agreements between Jersey and Nigeria, under which more than $300 million has already been repatriated to support three major infrastructure projects: the Lagos-Ibadan Expressway; the Second Niger Bridge; and the Abuja-Kano Road. The first two projects are now complete.

Under the terms of the MOU, the forfeited funds will contribute to the final stages of the Abuja-Kano Road, a 375 km highway that will provide a vital link between Nigeria’s capital and its second-largest city.

Speaking on the development, Mr Temple, said: “This successful return demonstrates the strength of our civil forfeiture legislation as a powerful tool in the fight against corruption. I thank the Nigerian authorities for their cooperation and the Economic Crime and Confiscation Unit in my Department for their unwavering commitment to recover the proceeds of crime.”

Adding his input, the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi said, “The successful recovery and repatriation of the forfeited assets, underscores the effectiveness of Nigeria’s collaborative efforts with its international partners in ensuring that there is no safe haven for illicitly acquired wealth or assets moved to foreign jurisdictions.”

“I want to, on behalf of the Government of the Federal Republic of Nigeria, thank the Bailiwick of Jersey for the cooperation accorded Nigeria during the Recovery exercise. I want to further assure the Bailiwick of Jersey, that the repatriated assets will be judiciously utilized in line with the terms of the executed Memorandum of Understanding,” he added.

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Lagos Gives Motorists Three-Month Rebate to Replace Faded Number Plates

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By Modupe Gbadeyanka

Motorists in Lagos State with faded and unreadable vehicle number plates have been given a three-month rebate window to replace them.

This followed the approval of the 90-day exercise by the Lagos State Governor, Mr Babajide Sanwo-Olu, according to the Permanent Secretary for Motor Vehicles Administration Agency (MVAA), Mr Rasheed Muri-Okunola.

The state government disclosed that the rebate applies specifically to vehicle owners whose number plates have become worn, faded, or unclear over time due to weather conditions and prolonged use.

It noted that the gesture is a proactive and citizen-friendly intervention aimed at encouraging compliance while reducing the financial burden on vehicle owners.

According to Mr Muri-Okunola, the Governor authorised the rebate as part of renewed efforts to enhance road safety, improve vehicle identification, and strengthen security across the state.

It was emphasised that the condition of vehicle number plates is critical to effective traffic management, crime detection, and overall public safety, noting that faded or illegible plates pose challenges to law enforcement agencies and traffic officials.

The government noted that that beyond aesthetics, legible number plates play a vital role in curbing traffic violations, aiding investigations, and supporting digital vehicle tracking systems deployed by the state.

Motorists were, therefore, encouraged to take advantage of the window by visiting the agency’s designated Pilot Centre at Oshodi (MVAA One Stop Centre, Oshodi) or any MVAA Stations across the state for the replacement process.

“Clear and properly maintained number plates are essential for vehicle identification and security. This three-month rebate is designed to give motorists ample opportunity to replace faded plates at a reduced cost while supporting our collective responsibility to keep Lagos roads safe and well-regulated,” Muri-Okunola stated.

“This is not just a regulatory exercise; it is a public safety measure. When number plates are clear and standardised, it improves efficiency across transportation, security, and emergency response systems,” he added.

Mr Muri-Okunola assured the public of seamless service delivery throughout the rebate period and advised motorists to avoid unauthorised agents, stressing that all replacements must be processed through designated government-approved centres.

He reiterated the Lagos State Government’s commitment to innovative policies that prioritise safety, convenience, and accountability while urging residents to cooperate with authorities in building a safer and more orderly transport environment.

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