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Treepz Partners CMS T&M to Digitise Transportation for 1.2M Customers Annually

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L-r: CMS T&M PRO, Yusuf Issa Lanre, G.M/Secretary Adegbola Mukaila, Treepz C0-founder & VP Products & Ops Afolabi Oluseyi, CMS T&M Director Alh. Ayinla Jimoh, Treepz Co-founder & President, Johnny Enagwolor, CMS T&M Managing Director Andrew Akhigbe, Treepz CEO & Co-Founder, Onyeka Akumah, CMS T&M V.C Alh. Lasisi Gbolagade, Treepz Co-founder & VP Customer Engagement, John Shaibu, CMS T&M Director Akarume Samson & Accountant, Oshisanya Lateef
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Treepz’s mission to provide commuters with convenient and affordable means of transportation within cities and across Africa, is further accomplished with its newest partnership with CMS Taxi and Motor Nigeria Limited (CMS T&M) in Lagos.

This partnership will see the CMS T&M passengers have access to a more convenient payment option and predictable travel times. The technology provided by Treepz will allow the CMS T&M management to manage their operations efficiently and digitise their ticketing systems to provide transparency for the bus operator.

CMS T&M is a 53-year-old licensed shuttle bus company that operates in the Central Business District of Lagos including Marina, Lagos Island, Victoria Island, Ikoyi and Lekki areas of Lagos State, with high-capacity buses and minivans.

With over 1.2 million passengers annually, CMS T&M provides conducive vehicles that ease the daily commute of workers, students, and traders within the city.

“At Treepz, our goal is to improve the public transportation system in Africa using technology and we are constantly looking out for opportunities to partner with major bus operators and state governments to digitise the transportation sector.

“By combining the expertise and technologies of Treepz, with CMS T&M’s 53 years of experience in public transportation and fleet management in Nigeria, we are on the right path to achieving this goal.

“I am particularly excited about the opportunity for this foremost transportation company to use Treepz technology to move away from cash-based payments, paper-ticketing and the general issues that come with this old way of buying bus tickets.

“CMS T&M will now move into the digital era with different ways for their 1.2 million annual customers to purchase their travel tickets while providing transparency and an efficient way to manage their operations with our technology.

“This will greatly improve the experience of daily commuters in Lagos and kick-start the digitalization of transportation systems across Nigeria” said Mr Onyeka Akumah, CEO & Co-Founder Treepz Inc.

Also speaking on the partnership, the CMS T&M Managing Director, Andrew Akhigbe, had this to say, “We are excited about our recent partnership with Treepz and can’t wait to power our CMS bus park using world-class technology with benefits occurring to both partners and commuters. Being a business of over 53 years, one of our goals is to drive a transparent operation system and Treepz helps us meet this using technology.”

Treepz shares a common goal with bus partners like CMS T&M to provide the most efficient and affordable bus travel solutions in parks and across bus-stops in cities in Lagos.

As a company, Treepz has continued to grow its impact on transforming the transportation sector with its technology currently deployed across Africa.

With operations in Ghana, Uganda and Nigeria, Treepz has introduced the Transportation Operator System to provide Bus Parks and Bus Operators with the necessary technology to digitise their services while increasing their customer base and managing their revenue.

As many transportation stakeholders look at how they move away from paper ticketing, cash-based transactions and understanding their customer inventory, bus operators are turning to Treepz to build the technology that will allow them reach their goals.

Beyond CMS T&M, over 12 bus operators have also partnered with Treepz including GUO Transport, Libra Motors, EFEX Transport Service, ABC Transport, Anambra Executive and a list of other intercity transporters with a combined 1,500 vehicles in their fleet.

Beyond transportation companies, Treepz continues to provide bus hiring services to schools for their school bus solutions, bus hire services to corporations for their staff bus solutions and technology to state governments to power their state transport systems.


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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud

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Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), Ikoyi, Lagos, on Tuesday, March 3, 2026, arraigned two bank officials, Bakare Oladimeji Surajudeen and James Olukayode Imokwede, over an alleged $306,667.81 and €50,250 fraud before Justice Ismaila Ijelu of the Lagos State High Court sitting in Ikeja.
EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud

EFCC

The defendants, who are both top officials of FSDH Merchant Bank Limited, were arraigned on a 10-count charge bordering on alleged stealing and retention of stolen property to the tune of $306,667.81 and €50,250.
The petitioner, FSDH Merchant Bank Limited, alleged that an internal audit uncovered unauthorized debits totaling $306,667.81 and €50,250, equivalent to N527,406,916.66 (Five Hundred and Twenty-Seven Million, Four Hundred and Six Thousand, Nine Hundred and Sixteen Naira, Sixty Six kobo), from its Letters of Credit (LC) payable accounts.
Investigations revealed that the defendants processed fraudulent transfers through the SWIFT platform to third parties.
One of the counts reads:
“That you, BAKARE OLADIMEJI SURAJUDEEN and JAMES OLUKAYODE IMOKWEDE, sometime in 2021 in Lagos within the jurisdiction of this Honourable Court, dishonestly took the sum of N527,406,916.66 (Five Hundred and Twenty-Seven Million, Four Hundred and Six Thousand, Nine Hundred and Sixteen Naira, Sixty Six kobo), property of FSDH Merchant Bank Limited.”
Another count reads:
“That you BAKARE OLADIMEJI SURAJUDEEN AND JAMES Olukayode Imokwede sometime in 2021 in Lagos within the jurisdiction of this Honourable Court dishonestly took sum of $306,667. 81 (Three Hundred and Six Thousand, Six Hundred and Sixty Seven dollars, Eighty one cents) property of FSDH Merchant Bank Limited”.
The defendants pleaded “not guilty” to all the charges preferred against them.
Following their pleas, prosecution counsel, H. U. Kofarnaisa, asked the court for a trial date and also prayed that the defendants be remanded in a Correctional facility pending trial.
Counsel to the first and second defendants, Oluwaseun Akintunde and Olajide S. Onasanya, informed the court that bail applications had been filed on behalf of the defendants and also urged the court to grant them bail on liberal terms.
They also prayed that the defendants be remanded in the EFCC custody pending the perfection of their bail conditions.
The prosecution counsel, however, opposed the prayers of the defence seeking the remand of the defendants in the EFCC custody, saying that “the EFCC detention facilities are overstretched.”
After listening to both parties, Justice Ijelu granted the defendants bail in the sum of N2 million each, with two sureties in like sum.
The court ordered that one of the sureties must be a relative, who is gainfully employed.
The sureties must provide evidence of tax payment in the last three years and must show proof of livelihood, with their residences verified.
The defendants were ordered to deposit their international passports with the court, and must not travel outside the country without the leave of the court.
The judge subsequently remanded the defendants in a Correctional facility pending the perfection of their bail conditions.
Justice Ijelu adjourned the matter till March 25, 2026, for the commencement of trial.

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AfDB Supports Francophone Africa Start-ups with €6.5M

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The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.

This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.

Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.

The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.

The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.

In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.


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Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

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Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.

Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.

Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.

The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.

SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.

The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.

Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.

Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.


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