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EDS Express Thrives on Transparency –Udoh

Published

17 years ago

June 8, 2009

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Udoh Felix, the managing director/chief executive officer of EDS Express Limited, a courier, haulage and logistics company, has harped on the need for courier companies in Nigeria to exhibit transparency in their dealings with their clients to restore the confidence of clients on the courier industry. This according to him, will be able to take the industry to the next level .He said the confidence of clients in the industry has been smeared as a result of a number of sharp practices perpetrated by some bad eggs amongst them in the past.
Udoh emphasized that the Courier Regulatory Department is now trying to do everything possible to correct some of those wrong doings to ensure that the courier industry is properly shaped. Furthermore, he said there is need to redeem the confidence that has been lost over the years so that people can walk up to courier offices and entrust them with their mails and consignments without being scared that such mails may be tampered with, dumped, misrouted, or get lost in transit even as he urged entrepreneurs and investors in the industry to invest more money saying that courier business is capital intensive.
On the importance of Information and Communications Technology on the sector, Udoh said the gains of ICT on any industry or economy even to an individual cannot be overemphasized. He said with one of the tools called track and trace, customers of the company can sit in the comfort of their homes and offices and track the movement of their mails all over the world once you send such document or parcel. He said the company gives the client an airway bill number with which he can log on the company’s website to monitor the movement of his parcel until such a parcel gets to its destination. According to him, such a facility can also allow one to know who assigned for the letter on arrival and at what time.
Udoh also informed that to exploit the ICT further that the company is working to ensure that all its operations are computerized at least in the zonal districts to link up with the head office to be able to sit down in Lagos and know what is happening in Abuja for instance and in other locations.
Customer satisfaction remains a core passion and strong selling point of the young company that has within barely one year of its operation, having been licensed in July last year by the CRD, opened 15 branch networks in the country.
“We would rather run at a loss, deliver customer consignment at a loss than delay it one minute longer than necessary. We believe in doing things the right and proper way. When it comes to bulk mail, if for any reason we cannot deliver anyone, we would rather send it back to the owner even if he decides not to pay us. We would rather feel satisfied that we have done a good job than dump the mails and come forward to say that we have delivered,” he said.
The kind of conscience we operate he explained will not allow us to do that for we believe in transparency, speedy delivery and reliability. “We believe that if a man walks into our office and gives us a piece of paper which you may not know the value of, we believe that the man who owns that piece of paper and is paying for its delivery has high regard for that piece of paper.”
On what informed the setting up of the company? Udoh said the directors of EDS had thought over the past years some of the things not properly done in the courier service delivery including misrouting of mails, pilfering, delay in delivery and service failures among other things and decided to play a leading role in transforming the sector by providing first class service to clients.
He noted that some of the courier companies would claim to be able to deliver within 24 hours or return sender’s money and at the end of the day you have a document that is urgent taking two to three days before reaching its destination. “For us at EDS that is not supposed to be the face of courier,” Udoh said.
“When you talk about courier service, it has to do with speed, reliability, transparency. If you are a courier service operator and I walk up to send my document through you , I want to believe that document shouldn’t be tampered with and I also expect that it should be delivered on time too because I paid for it”
To further underscore the importance of speedy mails delivery, Udoh said looking back, courier service all over the world started with the airline from the aviation industry and that in those days when the aviation industry came on stream, first area of service as a matter of priority was mail delivery and passenger service was secondary.
On how to regulate the sector adequately, EDS CEO said the issue has come up a number of times at CRD organized workshops and trainings for courier operators but he believes anything that will shape the future of the courier industry will be a worthwhile development.
“I don’t see anything wrong in CRD being given an autonomous title to fully regulate the industry. For now there is a limit to which it can regulate the industry. Except a person that is fully empowered to regulate the industry, there are certain things he may not be able to do and even to achieve. CRD is doing marvelously well. The man at the helm of affairs, Dr Simon Emeje is the kind of man we need there. He is the kind of man we believe will take the courier industry to the shore. He has a passion for the job, he is focused, he is open and transparent, he leaves his doors open at any time irrespective of who you are,” Udoh disclosed.
On the company’s expansion plans, Udoh said in the next few years the target of EDS is to have outstations in all the 36 state capitals in Nigeria. According to him, the company has at present outstations in about 15 cities and network agents in all the cities of the federation as he said even now that the company has consignments going to almost all the cities of the federation. He emphasized that for a courier company and service delivery that there is great need effective network system without which one cannot break even. “So part of the focus we have for the next five years is to ensure that we have superlative network coverage,” he said.

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News

Xora Finance, Fintech Firm Refuses to Hire Nigerians over Alleged Dishonesty

Published

21 hours ago

July 13, 2026

Ebere Melum-Nwogbo

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Xora Finance has announced it will no longer consider job applicants from Nigeria.

Xora Finance is a digital bank founded by Joren Lundgren, in February 2026 and allows users to deposit and earn interest on their XRP cryptocurrency.

Lundgren, founder, in an announcement on X (formerly Twitter), cited an ongoing pattern of misconduct, such as dishonesty and theft, from previous Nigerian hires as the reason for the decision.

This sudden blanket ban came just days after the company’s official career page was aggressively recruiting remote workers for marketing and content roles.

The announcement generated heavy backlash online, with many people upset that a blanket rule punishes honest job seekers.

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General News

FG Secures Fresh $208.3m World Bank Loan for Cash Transfer

Published

21 hours ago

July 13, 2026

Ebere Melum-Nwogbo

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Federal government has secured a fresh $208.3 million financing from the World Bank to strengthen Nigeria’s cash transfer programme targeted at poor and vulnerable households as the country continues to grapple with the economic impact of ongoing reforms.

FG Secures Fresh $208.3m World Bank Loan for Cash Transfer

President Bola Tinubu’

The new facility is expected to bolster the government’s social protection initiative by providing direct cash support to millions of low-income Nigerians affected by rising living costs following the removal of petrol subsidy and the liberalisation of the foreign exchange market.

The funding forms part of the World Bank-backed social safety net programme aimed at cushioning the impact of economic reforms while improving the country’s social protection system.

It is also expected to support efforts to enhance the National Social Register, strengthen payment systems and ensure that financial assistance reaches eligible beneficiaries more efficiently.

The latest financing adds to a growing list of World Bank-supported projects approved under President Bola Tinubu’s administration.

Since the administration assumed office in May 2023, Nigeria has secured more than $11.4 billion in World Bank loan approvals across key sectors, including power, agriculture, healthcare, education, digital infrastructure, financial inclusion and social protection.

However, only part of the approved funding has been disbursed, with several projects still at various stages of implementation.

Government officials have maintained that expanding the cash transfer programme is essential to protecting vulnerable Nigerians from the short-term effects of economic reforms while laying the foundation for long-term economic stability.

However, the fresh borrowing has renewed concerns among economists and policy analysts over Nigeria’s rising debt burden and increasing dependence on external financing.

Critics have called for greater transparency in the utilisation of borrowed funds and improved monitoring of social intervention programmes to ensure that the intended beneficiaries receive the support.

According to data from the Debt Management Office (DMO), Nigeria’s total public debt stood at approximately ₦159.28 trillion as of December 31, 2025, with multilateral lenders, particularly the World Bank, accounting for a significant portion of the country’s external debt portfolio.

Despite the concerns, analysts note that World Bank loans are generally concessional, offering lower interest rates and longer repayment periods than commercial loans.

They argue that the ultimate value of the new financing will depend on effective implementation, accountability and the successful delivery of cash support to vulnerable households across the country.

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News

How Ponzi Scheme Victims can Seek Legal Remedies — Lawyers

Published

21 hours ago

July 13, 2026

Ebere Melum-Nwogbo

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Some lawyers have said that victims of Ponzi schemes have legal remedies, although recovering lost funds and prosecuting perpetrators remain major challenges.

How Ponzi Scheme Victims can Seek Legal Remedies — Lawyers

A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new participants rather than from actual profits.

Operators lure victims by promising high returns with little to no risk.

The scheme inevitably collapses when the flow of new investors slows down.

Some lawyers who spoke to News Agency of Nigeria (NAN) separate interviews with on Sunday, said that victims could pursue civil actions to recover their money.

Mr Chibuikem Opara, a lawyer at Justification Chambers, Ikeja,said many Nigerians continued to fall victim to Ponzi schemes in spite of repeated warnings.

Opara said it was wrong to attribute participation in Ponzi schemes to a lack of investment opportunities, noting that promoters often exploit investors’ greed through promises of unrealistic returns.

“What you cannot take away is the fact that many Nigerians have fallen and continue to fall victim to these schemes every time,” he said.

According to him, victims may individually or collectively institute civil actions against the beneficiary company for breach of contract or refund arising from failure of consideration.

Opara said victims could also unite to seek an order from the Federal High Court to wind up the beneficiary company.

He, however, noted that such efforts might yield little benefit if perpetrators had already siphoned the funds and left behind an empty shell.

The lawyer said available remedies largely depended on the actions of relevant authorities, adding that recipient accounts could be frozen to facilitate fund recovery and support winding-up proceedings.

Opara said regulators and law enforcement agencies often became aware of Ponzi schemes only after substantial losses had occurred.

According to him, victims frequently failed to report suspicious schemes early enough to enable timely intervention.

He added that funds are sometimes moved outside the country before authorities become aware of the fraud.

Opara also cited inadequate information and the deceptive nature of the schemes as major obstacles to investigation and prosecution.

“Most times, everything about the schemes is made to appear elusive, just like the profits promised to victims,” he said.

Also speaking, Mr Vincent Aminu of A.F. Aminu and Co. advised that victims of investment scams should report such cases to appropriate law enforcement agencies on time.

Aminu said victims could petition the Economic and Financial Crimes Commission (EFCC) or file reports with the police.

He said that after investigation, prosecutors could bring charges against suspects under relevant fraud-related laws, including provisions of the Criminal Code and the Advance Fee Fraud and Other Fraud Related Offences Act.

Beyond criminal prosecution, Aminu said .victims could pursue civil actions to recover their money

According to him, such actions may be based on breach of contract, unjust enrichment, or fraudulent misrepresentation, depending on the circumstances.

He added that victims could petition the Securities and Exchange Commission (SEC), which could investigate illegal operators, shut down unauthorised platforms, and freeze assets.

He identified the anonymity of online fraudsters as one of the biggest challenges confronting investigators.

According to him, many operators concealed their identities through fake digital profiles and technologies that made tracking them difficult.

Aminu also noted that victims who delayed taking legal action risked losing opportunities for redress.

He added that prolonged court proceedings often delayed justice for victims.

“Many fraud-related cases take years before the court reaches a verdict, thereby delaying justice for victims,” he said.

Also, Mr Chris Ayiyi of Ayiyi Chambers, Apapa, described Ponzi schemes as a gamble that benefited early participants at the expense of later investors.

Ayiyi said some early entrants received returns on their investments, thereby encouraging others to join the schemes.

He said the schemes eventually collapsed, leaving late investors to bear the losses

The lawyer called for a complete ban on Ponzi schemes or sustained public enlightenment campaigns against them.

He urged the National Assembly to enact laws that would strengthen regulation and provide greater protection for investors.

According to him, stronger legal safeguards are necessary in a country operating a capital-based economy.

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