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Stock Exchange Slams N22.1m Fine on RT Briscoe

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R.T. Briscoe Nigeria

By Dipo Olowookere

An automobile company listed on the trading platform of the Nigerian Stock Exchange (NSE), R.T. Briscoe Nigeria Plc, has been slammed with a huge monetary fine.

A document sighted by Business Post over the weekend showed that the company was slapped with a sanction to the tune of N22.1 million.

It was gathered that the fine was placed on the firm for its failure to file its financial statements at the due time as required by the listing rules.

Recall that RT Briscoe and five other companies on the exchange were the first set to be suspended by the exchange this year. They were suspended on September 1, 2020.

For the auto firm, trading in its shares was paused by the NSE over its failure to submit its audited financial statements for the 2019 financial year and the results for the first and second quarters of 2020.

After the embargo on the trading of its equities, the organisation took an action by releasing them, which made the suspension to be lifted in compliance with the listing rules.

However, for not doing the needful at the appropriate time, the stock exchange has fined the company and this is expected to be paid from the purse of the organisation.

It was gathered that for filing its 2019 earnings late, the company has been asked to pay a fine of N8.3 million, while the late submission of its Q1 2020 results attracted N8.5 million and the late filing of the Q2 2020 accounts attracted N5.3 million.

Business Post reports that RT Briscoe has been going through a rough time lately.

In its 2019 results, its auditors, PKF Professional Services, warned that the company may be forced to wind down over its inability to meet its obligations because it is not generating enough funds.

According to PKF Professional Services, the group’s current liabilities exceeded its current assets by N14.8 billion versus N13.4 billion in 2018, while its total liabilities exceeded its total assets by N9.5 billion compared with N8.2 billion in 2018.

“Due to the losses incurred over the years, the shareholders’ fund has been totally eroded to the tune of N9.4 billion deficit as at December 31, 2019,” the note from the auditors said.

The auditors had further said the bank overdrafts of RT Briscoe as December 31, 2019, stood at N15 billion, representing 86 per cent of the total liabilities which is significant in the consolidated financial statements.

“The company has not been able to repay the bank overdraft and this has led to winding-up cases by the banks and other creditors.

“There are also issues on penalty charges by the banks. The significant, in relation to the inability to repay the borrowings which led to court litigations and also the going concern issues, make it a key audit matter,” the auditors said in the report.

It has been opined that the latest fine of N22.1 million of the NSE on the company may further compound the woes of RT Briscoe, according to an investor in the nation’s stock market.

“This is not good for the company, especially the shareholders’, who value have been eroded,” Mr Adegbite Salami, informed Business Post on Monday.

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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inDrive Lagos, Abuja Top Drivers Get N30m Fuel, Shopping Vouchers

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inDrive Driver Rewards Campaign

By Modupe Gbadeyanka

Top drivers of a global mobility and urban services platform, inDrive, in Lagos and Abuja were recently rewarded with fuel and shopping vouchers worth N30 million through its Driver Rewards Campaign.

The promo was created by the company in response to rising fuel costs and increasing operational expenses. It is providing meaningful support to its driver community through this initiative, while celebrating their commitment and hard work for keeping Nigeria’s major cities moving every day.

The campaign, which started in March and will end in June 2026, involves distributing vouchers worth N30,000 each to 1,000 eligible drivers through a series of live raffle draws on inDrive’s digital platforms. This effort is designed to acknowledge and reward the most active drivers on the platform for their unwavering dedication and commitment to providing high-quality service to passengers.

The Country Lead for inDrive Nigeria, Mr Timothy Oladimeji, noted that the initiative underscores the organisation’s ongoing commitment to driver welfare and its mission to foster equitable opportunities within the mobility ecosystem.

Mr Oladimeji explained that the Driver Rewards Campaign is designed to ease some financial burdens while encouraging and celebrating drivers’ resilience, professionalism, and dedication to service.

“At inDrive, we understand the realities drivers face every day, especially as rising fuel prices continue to put pressure on their earnings. Our drivers are the backbone of our platform, and this campaign is our way of recognising their dedication and supporting them meaningfully.

“Through these rewards, we want to show that inDrive stands with drivers, values their contribution and remains committed to creating a fairer and more rewarding mobility ecosystem,” he said.

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inDrive Unveils International Social Initiative Against Bullying

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inDrive Cancel the School Trip campaign

By Modupe Gbadeyanka

A social initiative to encourage parents to pay closer attention to their children’s emotional well-being and create space for open conversations has been launched by a global mobility and delivery platform, inDrive.

It is based on inDrive’s Cancel the School Trip campaign, first launched in Kazakhstan in April 2026.

Encouraged by the significant public interest in the project, inDrive intends to roll out the initiative across other markets within its global presence, including Nigeria.

As part of the initiative, users taking morning rides to school received a push notification asking whether they wanted to cancel the trip after the ride had already started. The message appeared to be an app error, but in reality, it served as a communication trigger — a way to pull parents out of their daily routine and redirect their attention to their child’s emotional state.

School bullying remains one of the most widespread — and at the same time one of the least visible — issues affecting teenagers worldwide. According to UNICEF, millions of children regularly experience bullying, yet many never speak about it to adults.

“We need to talk to children more often. Not just ask How are you? But genuinely notice their emotional state, mood, and changes in behaviour. Sometimes, even a short conversation can help identify a problem a child may be afraid to talk about,” the Country Lead for inDrive Nigeria, Mr Timothy Oladimeji, stated.

The symbol of the campaign became the back seat of a car — a space where parent and child are alone together and can talk without distractions. The organisers believe there is not always a need to create entirely new communication rituals; sometimes, it is enough to pay more attention to moments that already exist in everyday life. Even a few minutes of conversation on the way to school can help a child feel heard and safe enough to share their concerns.

In addition to digital tools, installations shaped like car seats were placed across Almaty in shopping malls and at busy city intersections. As part of the initiative, an online platform with practical recommendations for parents was also developed together with child psychologists.

The platform includes materials on recognising signs of bullying, starting difficult conversations with children, and supporting them in challenging situations.

The campaign was followed by a roundtable discussion in Kazakhstan that brought together psychologists, parents, influencers, and representatives of the creative industry. Participants discussed why bullying often remains hidden, how teenage aggression is evolving and which communication approaches help build trust between adults and children.

A separate part of the discussion focused on how to talk to children about difficult emotions and experiences. According to psychologist Kseniya Lych, standard questions are often ineffective because children answer them automatically. Instead, prompts involving imagination and open-ended thinking tend to reduce tension and encourage dialogue.

The initiative received strong public attention and positive feedback from parents, psychologists and the professional community. As a result, inDrive is already planning to expand the campaign to other markets where it operates, adapting it to each country’s local context.

“We see that bullying is an equally painful issue across different countries and cultures. That is why we want to develop this initiative internationally and launch similar projects in other inDrive markets. For us, it is important not only to raise awareness about the problem, but also to help parents pay closer attention to their children’s emotional well-being and start conversations in time,” says Yevgeniy Gavrilchenko, co-author of the idea and Creative Lead at inLab by inDrive.

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FRSC Condemns Attack on Traffic Enforcement Team by DSS Official

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Shehu Mohammed FRSC Corps Marshall

By Modupe Gbadeyanka

The Corps Marshal of the Federal Road Safety Corps (FRSC), Mr Shehu Mohammed, has kicked against an alleged violent attack on the traffic enforcement team of the organisation by a motorist, who was later identified as a security operative.

In a statement signed by the Deputy Corps Commander for Public Education, Mr Osondu Ohaeri, in Abuja on Friday, it was claimed that the motorist was suspected to be an official of the Department of State Services (DSS).

Narrating the incident in the statement, the FRSC said on Thursday, May 21, 2026, its officials flagged down a Toyota Carina driver for a suspected traffic violation at about 3:20 pm, but he refused to stop and proceeded dangerously until he was eventually held up by traffic close to the Command in Idu, Abuja.

“Upon approach by the patrol team for routine checks of vehicle and driver documents, the offender became hostile, verbally aggressive, and resisted lawful enforcement procedures.

“Despite several tactical and professional attempts by FRSC personnel to de-escalate the situation, the offender escalated the confrontation by physically advancing toward officers and later drawing a pistol, which he fired twice within the vicinity of the Command.

“In the face of imminent danger to lives and property, FRSC personnel acted with remarkable restraint, professionalism, and tactical discipline to swiftly disarm the assailant without loss of life. One Marshal sustained minor bruises during the process,” the statement narrated.

It was disclosed that the suspect was immediately handed over to the Nigeria Police Force at Life Camp Police Station alongside the firearm, ammunition components, and the vehicle involved, with the matter transferred to the appropriate State Command for further investigation.

In the statement, Mr Mohammed praised his men for the courage, professionalism, and maturity displayed by them, saying he’s impressed with how they resisted provocation and ensured that the situation did not degenerate into chaos, despite growing public outrage at the scene.

He further stated unequivocally that no individual, regardless of status, rank, or agency affiliation, is above the law, emphasising that security personnel are expected to lead by example through compliance with established traffic regulations and respect for constituted authority.

He called on all security agencies to continue strengthening inter-agency cooperation, mutual respect, and operational discipline in the collective interest of national security and public safety.

“Firearms and official status must never be used as instruments of intimidation against law enforcement officers carrying out legitimate duties,” he stressed.

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