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Cars45 Reaffirms Commitment to Enabling Trade within Nigeria’s Automotive Industry
Cars45, Nigeria’s leading tech-enabled automotive trading platform has reiterated its commitment to enabling trade within Nigeria’s automotive industry as well as defining the future of automotive trade across the country by providing consumers with a brand experience that helps them with smarter buying and selling choices.
Cars45 founded in 2016 provides an end-to-end digitized customer journey for buying and selling cars for individuals and corporate organizations with a desire to help them get the most value from any automotive transaction.
Soumobroto “Sunny” Ganguly, chief executive officer, Cars45, at an interactive session in Lagos, stated that meeting the needs and expectations of its customers and stakeholders will remain a major imperative even as the company intensifies efforts at solving the challenges across the automotive value chain from new, to used, logistics, aftermarket and repair services and scrap vehicles while the business continues to grow on the back of innovation and technology.
“Cars45 has moved into over twelve cities across Nigeria and two others in Africa,
“We have a growing franchise dealer network coupled with our Autopreneur support system that has empowered so many young people financially, and our marketplace has exceeded expectations in facilitating consumer-to-consumer vehicle trades and making the car ownership dreams of lots of people come true.
“We are confident in our ability to deliver and the strength of our mission to enable automotive trade across the continent.”
On the recent management changes, the CEO noted that Frontier Car Group (FCG) which had invested in Cars45 Series A fund raise in May 2017 was acquired by OLX Group in November 2019 to demonstrate their ambition to lead the online market for used cars. Cars45 has now been fully integrated as a proud member of the OLX Autos family.
Cars45 announced some products offerings that include: GoMechanic45, an aftermarket service aimed at providing quality and affordable car repair services for consumers and corporates, deepening the culture of preventive maintenance and scheduled servicing in a manner that helps them to maximize the lifetime value of their vehicles.
Institutional and Corporate Sales will cater to corporate and government institutions by solving issues around fleet liquidation and valuation as well as supply while adding value to their automotive needs and unlocking new levers of growth and productivity.
International Trade services christened as EasyShipDirect is an end-to-end importation service that will facilitate the acquisition of clean titled cars into the country, help the government realize revenue via the payment of import duties and
Lastly, Cars45 has partnered financial institutions – fintechs and banks to provide vehicle financing services to both consumers and car dealers with a view to removing long-standing barriers to car ownership and help grow the pool of car owners across the country.
The company also noted that its expansion into Kenya and Ghana is growing while strengthening its partnerships with car manufacturers and OEMs that include KIA, Kewalram Nigeria and CFAO with a view to facilitating new car sales and ownership.
Also speaking during the briefing, Shola Adekoya, head, Marketing and Communications, reiterated the company’s commitment to driving the growth of the automotive sector in Nigeria and ensuring that car-buying and ownership becomes a seamless, safe and secure experience for consumers.
“We take our responsibility of providing quality service offerings underpinned by transparency and integrity very seriously.
“It is incumbent upon us to develop value-based products that will enhance value creation for the Nigerian used cars marketplace.”
Patricia Duru, head, Lead Management & Marketplace; noted that Cars45 has prioritized the delivery of a transformative customer experience for all stakeholders even as its marketplace provides value and variety for consumers.
The event had in attendance senior management executives from Cars45 that include: Head, Finance, Elizabeth Iyi-Eweka; Head, Technical Operations, Pankaj Bohra and Head, People Operations and Central Support Services, Olajumoke Obembe amongst others.
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Copyright Commission Warns School Proprietors Against Pirated Books
AS the Nigerian Copyright Commission (NCC) intensifies its public awareness campaign, school proprietors in the FCT have been advised to exercise due diligence by procuring books from legitimate sources to curb copyright infringement and help sanitise the book value chain.
This was disclosed by Mr. Emeka Ogbonna, the Director Operations, NCC, in his address at the General Meeting of National Association of Proprietors of Private Schools (NAPPS), FCT held at Veritas University, Abuja on 9th October, 2024.
Speaking to the participants, Mr. Ogbonna acknowledged the contributions of the proprietors to the educational development of the nation, emphasising the need for wholesome practices to protect the book ecosystem. ‘’If you must sell or distribute books, ensure you get them from the right sources”, he cautioned.
He said the warning was imperative in view of complaints from right owners and publishers about schools selling pirated books. He stated that the NCC is not opposed to schools selling books, but maintained that due diligence must be exercised by ensuring that all purchased books are properly documented with authentic receipts.
Sensitising the school proprietors further on the tenets of the new Copyright Act 2022, the Director said it is a criminal offence to sell, distribute or be in possession, other than for private or domestic use, works that are pirated. Harping on the stiffer punishments prescribed for offenders by the new Act, he said schools selling or distributing books will be treated as booksellers and subject to the same standard of care.
The NAPPS FCT President, Mrs. Ruth Agboola, commended the NCC and other government agencies in attendance and lauded the Management of Veritas University for hosting the event.
The meeting was also attended by the Vice-Chancellor, Veritas University, Abuja, Rev. Fr. (Prof) Hyacinth E. Ichoku and other officials of the University.
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TETFund Suspends Foreign Scholarships Due to Rising Costs and Abscondment
Tertiary Education Trust Fund (TETFund) has announced the suspension of the foreign component of its TETFund Scholarship for Academic Staff (TSAS) Intervention, effective January 1, 2025.
This decision, outlined in a letter dated November 25, 2024, and signed by TETFund’s Executive Secretary, Arc. Sonny Echono, cites the escalating cost of overseas training and an increasing number of scholars absconding as reasons for the suspension. The letter was addressed to heads of beneficiary institutions, including vice chancellors, rectors, and provosts.
“In response to the current excessive cost of training in foreign institutions, coupled with the high rate of abscondment of scholars, the Board of Trustees of the Fund has approved the suspension of the foreign component of the TSAS Intervention,” the letter stated.
TETFund has directed beneficiary institutions to prioritize local training within Nigerian universities, polytechnics, and colleges of education. This shift, according to Echono, is aimed at reducing pressure on foreign exchange, enhancing local capacity, and significantly increasing the number of beneficiaries.
“It is expected that this will conserve and reduce pressure on the foreign exchange rate, boost investment and local capacity in our institutions while significantly increasing the number of beneficiaries of the intervention,” Echono wrote.
However, scholars already enrolled in foreign institutions under the TSAS programme will continue to receive sponsorship until they complete their studies, ensuring a smooth transition for ongoing commitments.
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Copyright Commission Pledges Support to Creatives on Contracts
Dr. John O. Asein, the Director-General, Nigerian Copyright Commission (NCC), has restated the Commission’s commitment to supporting all sectors of the creative industry to reward creatives and boost the nation’s economy.
The DG NCC stated this while receiving 2024 finalists of the National IP Creative Essay Competition, organized by the World Intellectual Property Organisation (WIPO), Nigeria Office who paid a study visit to the Commission recently.
Pointing to the issue of contracts as one area that is being looked into, he emphasized that contracts should be fair and transparent with terms that are not unreasonable, enslaving or unduly onerous.
While acknowledging the long and tortuous process of statutory reform, Dr. Asein assured right owners and other stakeholders in the creative industry that the commission has commenced the process of reviewing the recently passed Copyright Act with a view to identifying areas of improvement.
In the meantime, he announced that the Commission will be putting in place administrative mechanisms to help right owners, through the provision of model contractual clauses, better negotiate and conclude contractual terms.
The Director-General also informed the visitors that the Commission has Alternative Dispute Resolution facilities to help right owners settle copyright disputes.
Congratulating the essay finalists, Dr. Asein used the opportunity to announce their induction as Copyright Ambassadors and urged them to be good representatives of the Commission and the copyright industry.
Dr. Tobi Moody, Director, WIPO Nigeria Office and leader of the delegation, informed the Commission that a total of 256 students from 68 tertiary institutions in 27 States entered for the competition, with a winner and 19 finalists emerging.
Dr. Moody disclosed that the Competition is in line with WIPO’s policy of encouraging students to research and be actively involved in Intellectual Property (IP) matters. He assured that WIPO will support the finalists with capacity building prizes and opportunities to further strengthen their engagement in the field of IP.
The theme for the 2024 essay competition is “IP and Sustainable Agriculture: Combating Food Insecurity in Nigeria”.
Mr. Ikenna Mba, a year-four law student of the University of Nigeria, Nsukka emerged the overall winner of the competition while Mr. Chinonso Izundu, a year-five law student of the University of Port Harcourt and Mr. Adekunle Olajide, a year-four law student of University of Ilorin, were first and second runners-up respectively.
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