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General News

Uber Eyes Expansion of Uber Bus Across Africa

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After successfully trialling its minibus service in Cairo, e-hailing firm Uber says it is looking to further expand the Uber Bus offering across the Middle East and Africa region.

In 2018, the Egyptian capital became the first city in the world to introduce Uber Bus, also known as Uber Shuttle, as a result of increased user demand.

With Egypt being among Uber’s top 10 global markets, in terms of the number of monthly trips recorded, the firm says it decided to trial the daily commuter service in the country over for a couple of years.

Speaking at an Uber event held this week in Cairo, Egypt, Frans Hiemstra, GM for Uber in Middle East and Africa, said the service has seen huge demand in Cairo and the company is eyeing expanding it to other markets within the region.

“This region is a very important one to be able to innovate, test, modernise and constantly improve how we do things. Egypt specifically has allowed us to try and test Uber Shuttle, and hopefully, it will expand to other new markets.

“Uber’s vision has always been to expand and transform in the markets that we operate in,” noted Hiemstra.

When a user requests a ride through the app, the platform uses artificial intelligence to find other bus passengers travelling in the same direction, collecting the user at the nearest pick-up stop.

According to Uber, being able to share rides with other Uber passengers allows the price to remain affordable enough for everyday use for those travelling to and from work, while still maintaining the e-hailer’s safety standards.

Uber has been operating in the Middle East and North Africa (MENA) region for over 10 years, having transported more than 40 million people since inception, said Hiemstra.

Another milestone, he added, was the important role Uber played during the 2022 FIFA World Cup Qatar, which saw it transport over 2.6 million riders to and from the event.

Over the last year, Uber has seen a 30% increase in the number of MENA drivers registered on the app.

“The growth in the number of drivers we add to the platform facilitates the customer growth we’ve seen. We have ambitious plans for this region – which revolve around the 2030 Vision to transform mobility, as the region moves forward in leaps and bounds.

“We want to move forward in a more sustainable and eco-friendly manner,” Hiemstra concluded.


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General News

FG Halts Controversial FRC Dues amid Industry Outcry

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Federal government has temporarily suspended the controversial annual dues imposed on public interest enterprises by the Financial Reporting Council (FRC) after fierce opposition from businesses.

FG Halts Controversial FRC Dues amid Industry Outcry

Jumoke Oduwole, minister, Industry, Trade, and Investment, announced the decision during a Ministerial Consultative Meeting in Abuja on Wednesday.

The move follows mounting pressure from private sector groups, including the Nigeria Employers’ Consultative Association (NECA) and the Manufacturers Association of Nigeria (MAN), who slammed the Financial Reporting Council (Amendment) Act 2023 for burdening companies with excessive fees.

The Act mandates cumulative annual charges for non-listed entities and imposes a harsh 10% monthly penalty on unpaid dues, compounding until full payment, a provision that sparked widespread backlash.

At the meeting, major industry players like NECA, MAN, the Nigerian Association of Chambers of Commerce (NACCIMA), oil producers, and telecom operators warned that the fees would cripple businesses already struggling in a tough economy.

Oduwole clarified the suspension, stating, “The government has decided to direct the Financial Reporting Council to pause in the implementation of the new annual dues. You know that I am a lawyer, and a suspension request by the organised private sector would be in contravention of legislation duly passed by the National Assembly. A pause is an administrative process simply to review, in line with what we discussed today.”

She assured stakeholders that the halt would last no longer than 60 days, with a technical working group—including FRC officials and private sector representatives—set up to reassess the policy.

“We are a listening administration. The private sector has requested a range from three months to an indefinite suspension. We are not going to do that. So, at the most, 60 days is in my estimate. We are going to set up a technical working group comprised of the FRC and the organised private sector who have formally written in, and this will be reviewed,” Oduwole emphasized.


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SON Pledges to Standardize Made-in-Aba Products

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The Standards Organisation of Nigeria (SON) says it is intensifying efforts to standardise locally manufactured products, including Made-in-Aba brands, in order to enhance both local and international acceptance.

Aharanwa Chuks, Director of Region (South East), SON, communicated this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja.

Chuks said through the Mandatory Conformity Assessment Programme (MANCAP), SON ensured that all Nigerian-made products conformed to the relevant Nigerian Industrial Standards (NIS).

According to him, MANCAP involves direct engagement with manufacturers to certify that their products meet established quality benchmarks.

“This process includes inspecting production facilities, sampling products and testing them against NIS requirements.

“Successful compliance results in the issuance of the MANCAP certification, signifying adherence to quality standards.

“In Aba, SON has been proactive in educating manufacturers about standardization.’’

The director said SON also conducted stakeholder interactions; gathering manufacturers from various sectors to provide guidance on producing goods that met both local and international standards.

“For instance, leather manufacturers in Aba have been sensitized on standardization practices to enhance the global competitiveness of their products.

“Manufacturers are encouraged to collaborate with SON to obtain MANCAP certification, ensuring their products are not only marketable within Nigeria but also competitive internationally.

“This initiative aims to boost consumer confidence and promote the acceptance of Made-in-Aba products globally,” Chuks said.

 


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EFCC Arrests 133 @ Ponzi Scheme Training Academy

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Operatives of the Economic and Financial Crimes Commission (EFCC), has busted a Ponzi Scheme Academy and arrested 133 suspects in Abuja.

EFCC Arrests 133 @ Ponzi Scheme Training Academy

They were arrested at the Compensation Layout in Gwagwalada area of the Federal Capital Territory, FCT, Abuja, following actionable intelligence on the existence of the Academy.

The Academy, named Q University (a.k.a Q-Net) is in the business of recruiting gullible young Nigerians who are trained to recruit more gullible citizens into the scheme with the promise of getting unrealistic profit returns.

The suspects are enrolled into a training codenamed: “Special Training for New Generation Billionaire” and brainwashed to believe that they would graduate into the league of billionaires.

They got into the training by obtaining a form the promoters called “Independent Representative Application Form” with promotional slogans such as: “I’m a Champion” “I’m Unstoppable”, “I’m Infinity”, among others.

The EFCC carried out the operation in collaboration with officers and men of 176 Guards Battalion, Nigerian Army.

Items recovered from the suspects include phones, computers and other electronic gadgets.

They will be charged to court as soon as investigations are concluded.


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