News
Bus Reforms Will Create 3,000 Jobs – LASG
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.
National Orientation Agency (NOA) has revealed that an investigation by its Community Orientation and Mobilisation Officers (COMO) uncovered unethical practices by some tertiary institutions, in collaboration with certain banks, that are depriving students of their rightful access to the Federal Government Student Loan Fund.
Paul Odenyi, deputy director of Communications and Media, in a statement Sunday, disclosed that several universities and financial institutions have been found engaging in fraudulent activities that prevent students from receiving the loans allocated to them.
Mallam Lanre Issa-Onilu, director general, NOA, shared these troubling findings following a high-level meeting with Mr. Akintunde Sawyerr, managing director, Nigeria Education Loan Fund (NELFUND), over the weekend.
According to NOA, preliminary reports led to an urgent intervention from NELFUND after it was discovered that some university officials had deliberately withheld critical details about student loan disbursements.
Further feedback from NOA confirmed that certain institutions, in collusion with banks, have intentionally delayed payments to approved applicants for dubious financial gain.
Additionally, some universities do not acknowledge the disbursements made by NELFUND to students.
Sawyerr confirmed that certain institutions have withheld information about loan payments issued in students’ names while still demanding tuition fees from them.
He warned that NELFUND is ready to take legal action against institutions found guilty of engaging in fraudulent practices.
He stated, “Recent findings by NELFUND have shown that some institutions have received student loan disbursements directly into their accounts yet neglect to inform the affected students or record the payments in their financial records, leading to unnecessary confusion.
“Withholding critical financial information from students is not only unethical but also a breach of the principles on which NELFUND was founded.
“We are prepared to take legal action against any institution engaged in such deceptive practices.”
The investigation revealed that in some instances, universities continued to demand full tuition payments from students, despite having already received the loan funds intended to cover those fees.
According to the NOA, this constitutes a gross violation of student rights and a betrayal of public trust.
Issa-Onilu, therefore, issued a strong warning to the institutions and collaborating financial institutions, demanding an immediate end to these actions.
He also directed all NOA state directorates to intensify feedback collection from students nationwide to aid the Federal Government in identifying and penalising the erring parties.
The NOA emphasised its commitment to transparency, accountability, and ensuring that students benefit fully from the government’s intervention in education financing.
The statement added that the investigation remains ongoing, and further actions are expected in the coming weeks.
Central Bank of Nigeria (CBN) has announced a remarkable $6.83 billion balance of payments surplus for 2024, marking a decisive turnaround from deficits of $3.34 billion in 2023 and $3.32 billion in 2022.
This achievement reflects the impact of sweeping macroeconomic reforms, stronger trade dynamics, and renewed investor confidence in the nation’s economic direction.
Speaking at the 36th Enugu International Trade Fair, Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, highlighted the CBN’s commitment to addressing economic challenges and fostering productivity, particularly for SMEs.
She emphasized the importance of robust financial systems, foreign exchange stability, and collaboration between monetary and fiscal authorities in achieving industrial development and global recognition.
The President of the Enugu Chamber of Commerce, Sir Odeiga Jideonwo, commended the CBN’s efforts but expressed concerns over the recent hike in interest rates, cautioning that it could hinder access to credit for businesses.
This surplus signals a positive trajectory for Nigeria’s economy, benefiting investors, businesses, and citizens alike.
News
Senate Committee Partners with Kuda Bank to Tackle Compliance Crisis as Nigeria Loses ₦3.4 Trillion
Over ₦3.4 trillion in financial infractions were uncovered across federal Ministries, Departments, and Agencies (MDAs) in 2021, according to the Auditor General’s report — a staggering figure that highlights Nigeria’s deepening compliance crisis and the urgent need for stronger oversight in public institutions.
In response, the Senate Committee on Legislative Compliance is hosting a high-level workshop to address the root causes of weak oversight and institutional gaps. The two-day event, with the theme ‘Consolidating Strategies for Strengthening Legislative Compliance by MDAs’, will take place on April 15 and 16, 2025 at NAF Suites, Abuja, bringing together lawmakers, regulators, and over two hundred representatives from federal MDAs.
Kuda Microfinance Bank is co-sponsoring the workshop as part of its commitment to supporting responsible innovation, governance, and regulatory alignment in Nigeria’s financial ecosystem.
Rasaq Kadri, Kuda’s Head of Compliance, will deliver a keynote address on the second day of the event, highlighting the efforts of Nigeria’s fintechs to promote inclusion and financial literacy without compromising on compliance best practices.
“When public funds go unaccounted for, it doesn’t just damage government credibility, it affects the entire financial ecosystem, including fintechs,” said Kadri. “We can’t build trust-driven products in a trust-deficient environment. Every time compliance is treated as a box-ticking exercise, we miss the chance to build something that lasts. Fintechs have the tools and perspective to support better governance, but more importantly, we have a responsibility to be part of the solution.”
As a sponsor, Kuda will take the workshop to engage directly with key stakeholders in Nigeria’s regulatory and public service ecosystem.
Plenary sessions will be chaired by the Honourable Attorney General of the Federation, Lateef Fagbemi SAN, and the Honourable Minister of Finance, Wale Edun. Conversations will focus on closing compliance gaps, strengthening institutional transparency, and promoting cross-sector collaboration.
The Senate Committee on Legislative Compliance Workshop is a unique platform for dialogue, knowledge-sharing, and collaborative action.
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