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ABC Marks 20 Years of Giants Strides in Transport Business

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Stakeholders and friends of ABC Transport Plc recently gathered in Lagos to celebrate 20 years of her giant strides and contribution in/to road transport business in Nigeria.

Speaking at the event tagged event tagged “A Celebration Of Partnership” Frank Nneji, managing director and chief executive officer, ABC Transport Plc, said, that at every critical moment in the life of the company, it has always found a genuine source of partnership.

The partnership, Nneji noted as comprising employees, customers, financiers, suppliers, partners and associates, has always been the source of ABC’s strength.

 He said: “It is no longer news that we started with only 6 mini buses; that we operate over 450 vehicles in our fleet today. Twenty years ago, we started with less than seven staff. But today, we have over 1,500 employees, excluding contract staff.”

Travelling long distance on a bus within Nigeria (and the West Coast of Africa) was a boring, sweaty and uncomfortable experience, with passengers cramped together in tight seats like cattle.

However, all this would change in 1993 – the year ABC Transport Plc revolutionized road transportation in Nigeria, by deploying, for the first time ever, fully air-conditioned coaches with spacious leg room, toilets, snacks and entertainment on-board, discounted fares, and sourvenirs for frequent travellers as well as establishing the first modern bus terminals in major Nigerian cities and in Accra, Ghana.

The ABC boss explained that, the vision was essentially to set new standards for road transport operations in Nigeria, by providing suitable alternative land travel means for the discerning traveller who would otherwise have gone by air.

Nneji who described the Company as a greenhorn in the industry,  added that it decided to pay close attention to customer needs: comfort, convenience, class and safety.

“We had to adopt, as a matter of policy, an uncompromising focus on the quality of service and a tireless disposition for innovation. Those were ambitious objectives-but little did we know that ABC Transport would become the most innovative service provider in Nigeria, and the first and only publicly-quoted transport company on the capital market.”

In 1993, ABC started with only 6 mini buses. It acquired her first two 55-Seater Volvo luxury buses for coach operations in 1994. Between 1995 and 1997, the Company started Cargo Express and expanded across the country. From 1999 to 2000, ABC established the Drivers’ Training Academy (DTA).

Also, in 2001, the transport company built the first modren coach terminal in Abuja and established the Traffic and Safety Department. Her Coach West Africa for travellers on the West Coast came up in 2004 and became a Public Liability Company (Plc). By 2005, it deployed the Shuttle Service for short distant travels.

From 2007- 2009, it kicked off her haulage business in Obajana, Kogo State but expanded rapidly to Calabar, cross River State. From the year 2010-2012, ABC began Sprinter service and expanded our Haulage business in Agbara and Ewekoro in Ogun State.

The smart transport company started her ‘Smart Coach’ service in 2012 to complement long distance travels and ABC Bulker for dry products.

Nneji added that the Company is not resting on its oars of redefining transportation business in Nigeria.


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CBN Pulls Rate Cut Trigger, King Dollar Returns

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By Lukman Otunuga, Senior Research Analyst at FXTM,

In a move that caught investors off-guard this week, the Central Bank of Nigeria (CBN) slashed interest rates by 100 basis points bringing the MPR to 11.5%. Given how inflation has been above target since 2015, rates were expected to remain unchanged for the rest of 2020 and possibly early 2021.

 

The question on the mind of many is whether the rate cut will achieve the desired effect by stimulating consumption and economic growth? Ongoing border closures and disruptions created by COVID-19 have pushed inflation to levels not seen since March 2018 above 13.20% while a drop in the production and price of Oil continues to rub salt into the wound. While looser monetary policy could support growth, it may come at the cost of rising inflation and weaker Naira.

 

Over the past few months, central banks across the globe have deployed unprecedented measures to defend their respective economies against the coronavirus menace. However, fiscal policy has been identified as the sharper tool with governments across the world providing a critical lifeline to keep the wheels of their respective economies rolling.

 

Outside of Nigeria, King Dollar made a return by appreciating against every single G10 currency. In times of uncertainty, everyone wants a juicy piece of the world’s most liquid currency. As coronavirus cases rise in Europe and other parts of the world, the flight to safety is likely to boost appetite for the Dollar. This is bad news for many emerging markets currencies, especially those with high Dollar-denominated debt.

 

On the commodity side, Oil prices remain heavily influenced by demand-side factors and the state of the global economy. Prices are likely to remain stuck around the $40 regions in the near term, especially If another round of possible lockdowns hit Oil demand. Looking at the technicals, WTI Crude is under pressure on the daily charts. If prices are unable to break away from the sticky $40 regions, the next key point of interest remains around $38. A weekly close above $41.50 could pave a path towards $43.


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NCC Arrests Man for Hacking into DSTV System

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Nigeria Copyright Commission (NCC), has arrested one Mr Aliu Olalekan, for allegedly hacking into DSTV system and watching the channels free without subscription.

NCC Arrests Man for Hacking into DSTV System

Mr Matthew Ojo, NCC Director in the Lagos Directorate Office said this while speaking with newsmen in Lagos, on Tuesday.

He said that the suspect used to watch DSTV channels free without subscription on his Android phone via an app which he downloaded on google play store.

“This suspect distributed the know-how to his telegram followers and on his blog with the aim of gaining more followers and viewership on his blog and makes more money through google ad-sense.

“The operation was based on surveillance which had earlier been carried out by the Multi-choice team and verified by a copyright inspector, ” he said.

He added that the arrest was made in collaboration with a team of copyright inspectors led by the Head of Enforcement Department, Mr Charles Amudipe.

Others included; a team from Multichoice Nigeria led by Mr Umar Ibrahim and policemen from Lagos Command Headquarters, Ikeja.

Ojo said that the joint team conducted an anti-piracy operation at the premises of the culprit in Amukoko, Lagos.

According to him, the suspect was contacted on phone by a member of the operation team on the disguise of patronising him. “The suspect came out to meet the caller and in the process of discussion, he was apprehended.

“The suspect took the team to his resident. The squad paraded his one-room apartment and recovered his laptop and phones used in perpetrating the ungodly act. “He was arrested and brought to the copyright commission office for further investigation, ” he said.

Ojo said that, on getting to the commission’s office, the statement of the suspect was taken and the inventory of items seized from him taken. He said that investigation on the matter was still ongoing and if found guilty the suspect will be charged to court.

 


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NCC, Digital Encode Support NITRA Innovative Tech Forum On Post-COVID-19 Strategies

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The Nigerian Communications Commission (NCC), Nigeria’s telecommunications regulator and Digital Encode, Cybersecurity and Compliance advisory company, have indicated interest to partner with the Nigeria Information Technology Reporters Association (NITRA), the national umbrella body of ICT reporters, as it organizes a forum that will x-ray the industry’s future plans for ICT growth post pandemic era.

 

The event, slated to hold on October 15, 2020, will seek to discuss the needs for a fortified ICT sector after the COVID-19 era, and the level of preparedness of ICT stakeholders to embrace the challenge of being pivotal to the stability and growth of all other sectors.

 

A statement from NITRA National Secretariat in Lagos indicates that due to the pandemic and need to observe the COVID-19 protocol on social distancing, the event will be held via a Webinar.

 

This year’s theme, “Multi-stakeholder Approach To National Recovery Post-Pandemic”, is in line with the annual event’s generic theme, ‘NITRA Innovative Tech Forum’, a contribution by NITRA to the development of Information and Communication Technologies (ICTs) innovations and policies in Nigeria.

 

Prof. Umar Danbatta, executive vice chairman, NCC is expected to deliver the keynote speech at the event and will throw more light on Federal Government’s plans, programmes and policies on post-pandemic strategies using ICT.

 

Dr. Adewale Obadare and Dr. Seyi Akindeinde, founders of Digital Encode, while accepting to support the event expressed their readiness to offer their expertise in Cybersecurity for organisations to prepare against cyber- attacks with the new normal.

 

They will also highlight areas that are high risks that need fortification in terms of cybersecurity.

 

Speaking on the event, Mr. Chike Onwuegbuchi, national chairman, NITRA, noted that as the COVID-19 pandemic continues to leave its negative trails across the globe, economic reboot for countries will not only depend on how well they readapt to the new normal, but also more on their recovery plans.

 

According to him: “While the federal government has consistently expressed its willingness to set all policies in place to engender growth, and accelerated implementation of these policies, private sector firms have also shown great hunger for the task ahead in post-COVID-19 era.

 

However, the question that needs to be answered is whether all stakeholders are ready for the required task ahead.”

 

The event will also offer participating companies opportunities to publicize some of their individual efforts at contributing to reacting a soft landing or lifeline for SMEs and other ancillary companies as the pandemic threatens their survival.

 

Digital Encode is a multi-award winning and leading consulting and integration firm that specializes in the design, management, and security of business-critical networks, telecommunications environments and other Information Technology (IT) infrastructures.

 


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