Connect with us
deals book
Advertisement
Polaris bank
Advertisement
Oando
Advertisement
Alpha
Advertisement
Hotflex
Advertisement
Binance
Advertisement
Advertisement
UBA
Advertisement
Patricia
Advertisement
Access bank
Advertisement
app

Business News

There is a sad reason people are outraged with Peace Mass Transit 

Peace Mass Transit is trending number one on Twitter Naija, and it’s all for the wrong reasons.

Published

on

Peace, There is a sad reason people are outraged with Peace Mass Transit 

Peace Mass Transit is trending number one on Twitter Naija, and it’s all for a wrong reasons. Apparently, there was an accident involving one of the transport company’s buses on Thursday. The unfortunate incident happened along the Lagos-Ore-Benin Expressway and according to eyewitnesses, it was fatal.

Further details: Peace Mass Transit has issued a lengthy statement confirming that there was a head-on collision between their bus and another bus belonging to one of their competitors — GUO Transport Co.

The statement further disclosed that passengers in both buses were affected by the accident, even as a total of four people died on the spot. Other people sustained various forms of injuries.

Peace Mass Transit also used the medium to express its regret over the accident, whilst expressing condolences to the families of the victims. The company said the appropriate agencies were investigating the accident in a bid to “establish the truth and avoid a recurrence.” GUO has not released any public statement regarding this development.

In the meantime, Nigerians on Social Media were advised to be careful of their commentary patterning to the incident, bearing in mind the sensitive nature of the subject matter.

[READ MORE: Peace Mass Transit MD returns N2.2 billion excess deposit to banks]

Nigerians are outraged: Meanwhile, the general reaction expressed by Nigerians regarding this issue has been mostly characterised by anger. A Twitter user shared supposed pictures of the accident and claimed that “all 18 passengers died”. This, therefore, contradicts what Peace Mass Transit said in their statement.

https://twitter.com/Ernie_Presh/status/1205314399801618432

Based on their reactions, it is obvious that people’s anger boils down to the fact that there have been many road accidents involving Peace Mass Transit buses. One Twitter user even wondered aloud why these accidents always involve the company’s buses.

Another popular Twitter user identified as Henry Shied claimed that companies like Peace Mass Transit should never be allowed to transport human beings along Nigerian roads. Apparently, Mr Shield already has a pending court case against the company which he filed after a previous incident which he refused to elaborate on; for now.

On the other hand, there are those who believed that this is nothing but a smear campaign against Peace Mass Transit. As Ceejay argued, there is no transport company that does not have to deal with accidents every now and then.

[READ ALSO: Nigerians react to power blackout with hilarious tweets]

Jaiz bank

A bad timing: Agreed, this was an accident and the truth is that it was horrible. It is especially so, bearing in mind that this is the festive season when millions of Nigerians travel a lot. If care of not taken, travellers may start avoiding the affected companies and this will not augur well for them business-wise.

Emmanuel is a professional writer and business journalist, with interests covering Banking & Finance, Mergers and Acquisitions, Corporate Profiles, Brand Communication, Fintech, and MSMEs.He initially joined Nairametrics as an all-round Business Analyst, but later began focusing on and covering the financial services sector. He has also held various leadership roles, including Senior Editor, QAQC Lead, and Deputy Managing Editor.Emmanuel holds an M.Sc in International Relations from the University of Ibadan, graduating with Distinction. He also graduated with a Second Class Honours (Upper Division) from the Department of Philosophy & Logic, University of Ibadan.If you have a scoop for him, you may contact him via his email- [email protected] You may also contact him through various social media platforms, preferably LinkedIn and Twitter.

1 Comment

1 Comment

    Leave a Reply

    Your email address will not be published.

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Economy & Politics

    FG places high profile Nigerians under security watch for terrorism financing

    The FG has said that it is currently profiling a large number of high profile Nigerians who have been alleged to have reasonable links to terrorism financing.

    Published

    on

    FG to establish a new anti-corruption agency, P&ID, FG, malami, $9bn fine is a scam - Federal Government , UPDATED: P&ID operations shut down, assets forfeited by court order

    The Federal Government has said that it is currently profiling a large number of high profile Nigerians who have been alleged to have reasonable links to terrorism financing.

    This follows the arrest of an undisclosed number of suspects recently after the convictions of some Nigerians on terrorism financing in the United Arab Emirates (UAE).

    This disclosure was made by the Attorney General of the Federation and Minister of Justice, Abubakar Malami, during a chat with the press at the Presidential Villa, Abuja on Friday.

    What the Attorney General of the Federation is saying

    The Minister said that the convictions of Nigerians in the UAE has given rise to wider and far-reaching investigations in Nigeria.

    Malami in his statement said, “As you will actually know, sometimes back, there were certain convictions of Nigerians allegedly involved in terrorism financing in the United Arab Emirates (UAE).

    That gave rise to a wider and far-reaching investigation in Nigeria and I’m happy to report that arising from the wider coverage investigation that has been conducted in Nigeria, a number of people, both institutional and otherwise, were found to be culpable, I mean reasonable grounds for suspicion of terrorism financing have been established, or perhaps has been proven to be in existence in respect of the transactions of certain high-profile individuals and businessmen across the country.

    I’m happy to report that investigation has been ongoing for long and it has reached an advanced stage. Arriving from the investigation, there exists, certainly, reasonable grounds for suspicion that a lot of Nigerians, high-profile, institutional and otherwise, are involved in terrorism financing and they are being profiled for prosecution.

    In essence, it is indeed true that the government is prosecuting and it’s indeed initiating processes of prosecuting those high-profile individuals that are found to be financing terrorism. It is indeed true.

    Hotflex

    However, Malami did not give the number of such suspects as he maintained that investigation was still ongoing until a conclusion is arrived at.

    “As to the number, the investigation is ongoing and it has to be conclusive before one can arrive at a certain number, but one thing I can tell you is it is a large number and they are being profiled for prosecution.

    It is indeed a large number and I’m not in a position to give you the precise number as at now because the profiling and investigation are ongoing.”

    Malami warned that government will not hesitate to invoke the full wrath of the law on anyone found culpable in sponsoring terrorism in the country as nobody found culpable in terrorism financing will be spared.

    What you should know

    It can be recalled that in March 2021, the Association of Bureau De Change Operators of Nigeria (ABCON) confirmed the arrest of some of its members by security operatives over the investigation of some of their transactions which border on money laundering, terrorism financing and Know Your Customer status.

    ABCON in its statement said that it considers these as serious allegations especially given the security challenges facing the country. It appealed to the authorities to expedite action to ensure that innocent people who have been caught up in this investigation can be released and so that they can return to their anxious families and resume their lives.

    Jaiz bank
    Continue Reading

    Macro-Economic News

    Nigeria’s VAT collection surges to N496.4 billion in Q1 2021

    Nigeria’s VAT collection surged by 52.93% (year-on-year) to stand at N496.4 billion in Q1 2021.

    Published

    on

    VAT

    Nigeria generated a sum of N496.39 billion revenue from Value Added Tax (VAT) in the first quarter of 2021, a surge of 52.93% year-on-year compared to N324.58 billion recorded in the corresponding period of 2020.

    This is contained in the sectoral distribution of value added tax report, recently released by the National Bureau of Statistics (NBS).

    According to the report, VAT collections in the period represents a 52.93% increase as against N324.58 billion recorded in Q1 2020; and a 9.17% increase compared to N454.7 billion recorded in the previous quarter.

    The increase in VAT collections could be attributed to increased economic activity in the country, compared to the previous year, where most economic activities were put on hold as a result of the covid-19 pandemic.

    Highlights

    • Highlights of the report showed that the manufacturing sector generated the highest amount of VAT with N49.41 billion generated, closely followed by Professional Services, having generated N42.50 billion, and State Ministries & Parastatals, which generated N26.96 billion.
    • Mining generated the least, closely followed by Pioneering, Textile & Garment Industry with N48.36 million, N77.01 million, and N289.41 million generated respectively.
    • Also, out of the total amount generated in Q1 2021, N224.85 billion was generated as Non-Import VAT locally while N171.66 billion was generated as Non-Import VAT for foreign.
    • The balance of N99.88 billion was generated as NCS-Import VAT.

    Manufacturing sector topples professional services

    The manufacturing sector toppled the professional services sector to lead the list of sectors with the highest VAT remittances in the first quarter of 2021. A total of N49.41 billion was collected as Value Added Tax from the manufacturing sector.

    • Professional services followed closely, having remitted N42.5 billion in VAT to the government, State ministries and parastatals stood in third position with N26.96 billion VAT.
    • Others on the list include; Commercial and trading sector with N22.8 billion, oil-producing (N15.8 billion), Transportation and haulage services (N14.9 billion), Breweries, bottling, and beverages (N11.9 billion).
    • Federal ministries and parastatals (N8.8 billion), banks and financial institutions (N3.3 billion), and oil-marketing (N3 billion).

    Why this matters

    • The increase in VAT collection is a development in the right direction, especially given the recent positive growth recorded in global crude oil prices, indicating an increase in government revenue.
    • However, the government needs to intensify its effort in creating innovative ways of increasing revenue given growing overheads and statutory spending, coupled with increasing debt profile.

    Continue Reading

      





    Nairametrics | Company Earnings

    Access our Live Feed portal for the latest company earnings as they drop.