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Bus Reforms Will Create 3,000 Jobs – LASG

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Lagos State government has said no fewer than 3000 jobs would be created when the 13 bus terminals springing across the city finally comes on stream. This is as it disclosed that about 473 buses to flag-off operation of the bus reform would soon arriving the country.

 

Speaking over the weekend during a media tour to both the Ikeja and yet to be completed Oshodi Bus Terminals, Mr Ladi Lawanson, Lagos State Commissioner for Transportation said the bus terminals are part of Governor Akinwunmi Ambode’s gift to the 12 million masses of the state, who uses public transportation daily.

 

He said the terminals will put an end to insecurity, unreliability, accident and mugging associated with the current commercial bus regime in the state.

 

Lawanson said construction is ongoing in 13 different bus terminals all aimed at ensuring that more people embrace public transportation and that sanity returns to the roads.

 

He said: “We have Alapere Bus Shelter, Ilupeju Bus depot, Yaba Bus Terminal, Anthony Bus depot, Maryland Bus Terminal, Agege Bus Terminal, Ojota Bus Terminal, Oyingbo Bus Terminal, Tafawa Balewa Square Bus Terminal among other proposed corridors.

 

“These facilities will provide over 3000 jobs for youths and increase transport connections and inter modal connectivity in the state.

 

His colleague, Kehinde Bamigbetan, Commissioner for Information and Strategy said the idea is to cater for low and medium income residents who cannot afford to fuel their own cars every day.

 

“We are expecting over 800 buses that the government has procured to kick-start operation for the benefit of the residents,” he said.

 

He said the Ikeja Bus Terminal is a major transportation infrastructure constructed to improve efficiency, adding that 23 routes would be serviced from the terminal and while the facility would be servicing 400,000 passengers daily. It would reduce traffic congestion, occasioned by the present street loading and dropping off of passengers and reduce environmental pollution.

 

Bamigbetan said the Ikeja terminal has facility to cater for 100 buses daily, adding that the government hoped to take off with the Ikeja-Obalende route before June ending.

 

Also speaking, the Managing Director Planet Project Mr Biodun Otunola said the Ikeja Bus Terminal which sits on 10,000 square metres of land is more than a bus stop as “some ignorant critics have lately being ranting.”

 

He said the facility has a sheltered walkway, 13 ticketing booths, an ATM gallery, and a food court. Also, the facility has a functional Intelligent Transportation System (ITS) which makes routes and travel planning easy. The terminal is provides conveniences for both sexes and free wifi spot for the the use of commuters.

 

Otunola who also took the reporters on tour of the Oshodi Bus Terminal and Interchange said the iconic terminal on completion would be servicing 300,000 passenger traffic every day, which he said is projected to hit one million in the next five years.

 

He said each of the three wings five-floor terminals, which would be completed with a skywalk is the first of its kind in the world. “While Terminal One, is intercity transport, Terminal Two exclusively services intra city transportation , while Terminal Three would service Lagos Island, Ikorodu corridor. Each terminals is one five floors, has multi level car park, conveniences, six lifts and one escalator each, food court, a park and ride facility, cctv system, holding bay with capacity for 70 buses and a control centre.”

 

Otunola described what is going on in Lagos as revolutionary as it was the first time government is deliberately planning and providing world class facility to road transport users. He added that the facilities presently going on across the state would redefine the transportation system in the state.

 

He said the Oshodi interchange will be delivered by October this year.

 

The tour was led by the Commissioners for Transportation and Information and Strategy, Permanent Secretary in the Ministry of Transportation Mr Taiwo Olufemi Salaam, Mamaging Director of the Lagos State Bus Services Ltd., Mr Idowu Oguntola, MD Planet Projects Ltd., Mr Biodun Otunola, directors in the Ministry of Transportation, among others.

 

 


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Detained Binance executive drags EFCC, NSA to court

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Binance executive Tigran Gambaryan has has dragged the National Security Adviser Nuhu Ribadu and the Economic Financial Crimes Commission (EFCC), to court alleging violations of his fundamental rights.

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In a filing dated March 18 and presented by his lawyer Olujoke Aliyu from Aluko and Oyebode Law Firm, Gambaryan sought redress before Justice Inyang Ekwo, requesting five reliefs. Similarly, Nadeem Anjarwalla, Binance’s Africa regional manager who escaped custody on March 22, initiated a separate suit before Justice Ekwo.

Gambaryan and Anjarwalla, in the suits marked: FHC/ABJ/CS/356/24 and FHC/ABJ/CS/355/24, had sued the Office of NSA (ONSA) and EFCC as 1st and 2nd respondents.

Gambaryan, a US citizen overseeing financial crime compliance at the crypto exchange platform, alleged that his detention and the confiscation of his international travel passport violated Section 35 (1) and (4) of the 1999 Constitution, constituting a breach of his fundamental right to personal liberty. He further requested the court to order his immediate release and the return of his passport. Additionally, he sought an injunction preventing further detention related to any Binance investigations and demanded a public apology from the respondents, along with costs incurred.

Gambaryan stated that he visited Nigeria on February 26 alongside Nadeem Anjarwalla, representing Binance, in response to invitations from ONSA and EFCC. Despite attending the meeting as requested, both were detained afterward without formal charges.

During the court proceedings, T.J. Krukrubo, SAN, representing Anjarwalla and Gambaryan, informed the court of the respondents’ absence despite being served. Krukrubo also mentioned their notice of withdrawal of legal representation for Anjarwalla, filed on March 26.

Justice Ekwo noted the withdrawal of legal representation and adjourned the matter to April 8 to allow the applicants to seek new representation and give the respondents an opportunity to appear.

In Gambaryan’s case, Krukrubo stated that although the processes were served on ONSA and EFCC, they still had time to respond. He requested an adjournment, indicating that the respondents’ deadline to file their applications would expire the following week.

Consequently, Justice Ekwo scheduled the next hearing for April 8 to continue proceedings.


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AXA Mansard Empowers Female SMEs with Financial, Digital Skills

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AXA Mansard, a member of AXA has empowered 200 female Small and Medium Enterprises with financial literacy and digital business skills.

In collaboration with SME 100 Africa, the two-day training, which was held in Lagos, is part of AXA’s lined-up programmes to commemorate this year’s International Women’s Day.

Speaking, Olusesan Ogunyooye, Head of Marketing AXA Mansard, said the training was aimed to empower female SME owners with skills to improve business output and position them for the increasing economic opportunities available in an increasingly digital marketplace.

Ogunyooye noted that the move was in line with AXA Mansard’s sustainability agenda, explaining that the company was convinced that support for women through its inclusive protection programmes was pivotal to its purpose of acting for human progress by protecting what matters and its mission of moving from being a payer to a partner.

He further said that focusing on digital skills was important because the company realised the importance of digital skills to the growth of the SME sector in Nigeria and wants to ensure that women were empowered enough to be a consequential part of that growth.

“It’s almost trite to say that SMEs are the engine for economic growth, especially in developing countries like Nigeria, where over 45 million adults are business owners. What needs to be continually discussed is how Nigeria is going to unlock that potential for economic development and how much of that potential will be unlocked by women and for women.”

“For us at AXA Mansard, we are aware that digital will play a major role in unlocking these current opportunities and Nigeria’s economic future. So, to ensure that women are equally represented in unlocking these future potentials, that’s why we have collaborated with SME 100 Africa to support them in developing the required skills”.

“Our choice of digital and financial literacy skills is deliberate. We understand the power of the duo. We understand that helping these SMEs with the skills to attract more customers will be a faster means to empower them.

“We see that they have amazing products and services, but they need to understand how to attract value for themselves by attracting the right customers, and you will agree with me that virtually all customer segments are online in one way or another today.

“So, if we can empower them with digital business skills, we would have helped them with the heavy lifting of trying to find and attract customers”. Ogunyooye explained.

According to him, AXA Mansard believes that for the world to experience progress truly, there must be an equitable distribution of creation and access to opportunities for men and women. This quest for balance informed the SHE for Shield initiative, a women-centred inclusive protection programme of AXA Mansard.

SHE for Shield is a group of initiatives designed for the Nigerian woman. The goal is to see them grow, add value, and help them mitigate risks at every step.

According to the company, research has found that access to health care is one of the most important things to Nigerian women, regardless of their economic segment. They desire to be financially independent, secure, and respected in the community.

 


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IFC Invests in New 4DX Ventures Fund to Support Tech Startups in Africa

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IFC is investing $10.5 million in a new fund by 4DX Ventures, a New York-based venture capital firm focused on supporting early-stage African technology companies across a broad set of sectors, including fintech, e-commerce, edtech, climate tech, and health tech.

IFC’s investment in 4DX Ventures Fund III will come from IFC’s $225 million venture capital platform, which was launched last year to strengthen emerging VC ecosystems and invest in early-stage companies in Africa, the Middle East, Central Asia, and Pakistan.

Africa is among the regions least served by venture capital, receiving just 2% of global venture deal volume in the third quarter of 2023. Access to capital on the continent has been further exacerbated by a slowdown in global venture capital investment.

Tech ecosystems are nascent, or even nonexistent, outside of more established markets such as Egypt, Kenya, Nigeria, Senegal, and South Africa.

“IFC and 4DX Ventures share the commitment to supporting tech entrepreneurs with innovations that will help Africa leapfrog in critical areas such as climate, health care, fintech, e-commerce, and education,” said Walter Baddoo, Co-Founder and General Partner of 4DX Ventures.

“We look forward to partnering with IFC to help promising tech startups build transformative businesses and realize sustainable development impact on the continent.”

4DX’s new fund will invest in companies with tech solutions that can improve productivity, efficiency and competitiveness across Africa. The firm’s first two funds invested in companies such as Egypt-based e-commerce platform MaxAB, an IFC portfolio company; Ghana-based health tech firm mPharma; and Kenya-based B2B e-commerce platform Wasoko, formerly known as Sokowatch.

“By supporting the development of tech ecosystems in emerging markets, IFC’s venture capital platform aims to improve access to key services, boost business competitiveness, and promote job creation through digital transformation,” said Mohamed Gouled, Vice President of Industries at IFC.

“Our investment in venture funds such as 4DX Ventures will help African entrepreneurs access more financing and resources they need to scale tech innovations and bolster sustainable growth across the continent.

In addition to providing capital, IFC will work with 4DX Ventures to implement their environmental and social management system.


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