The Lagos Bus Service Limited (LBSL) has reportedly transported 10 million passengers in 10 months of its operations in Lagos State. Managing Director/Chief Executive, LBSL, Idowu Oguntona, disclosed during the company’s celebration of the milestone at its bus terminus.
Oguntona also reiterated LBSL’s commitment in aiding to reduce the number of cars on Lagos roads during business hours.
Oguntona said, “As part of our efforts to facilitate intermodal transportation in Lagos State, we collaborate with LAGFERRY to ensure seamless movement of people, and we are ready to work with other sister organisations to ensure that the Sanwo-Olu administration’s blueprint for the transport sector is realised.
“The Greater Lagos we envisage with Governor Babajide Sanwo-Olu is a smart city where a resident can get of home, ride on our bus, get on a ferry link a train and still return home in a bus, all in a day’s journey. It is no longer a dream without a date. It is now a realisable goal in our life time.”
In a statement sent to Nairametrics, Oguntona further disclosed that the company had been growing organically, tripling its fleet from 50 buses in May 2019 to 150 high capacity buses by December 2019.
Additional 65 high capacity buses were deployed and seven new major routes opened in February for the use of commuters affected by the restriction order placed on motorcycles and tricycles in some parts of Lagos.
Oguntona also stated that LBSL transports 80, 000 passengers daily on its 15 routes and as such, has been able to achieve the significant feat of effectively transporting 10 million passengers in 10 months since 2019 while creating jobs for hundreds of people.
He also disclosed that plans were underway to introduce more high capacity and mini-buses into the company’s fleet to serve more commuters across the state.
“LBSL is a key player in the Traffic Management & Transportation; Health and Environment component of the THEMES agenda of Governor Babajide Sanwo-Olu. We have created jobs for over 700 Lagosians, with about 87 per cent of the staff being bus captains, operations staff and technical staff.
“We have also empowered Lagosians for employment through our driving school that successfully produced 1,969 certified high capacity bus drivers in 2019,” he added.
Speaking against the backdrop of the recent confirmed cases of COVID-19 in the State and the need for relevant organizations to embrace precautionary measures, Oguntona disclosed that the company is putting in place, necessary measures to minimize exposure to the virus on the buses.
“As we speak now, the use of sanitizers in all our stations is now compulsory. This is in addition to provision of Thermometer already deployed across our stations to check passenger’s Temperature before they board our buses, to contain the spread of this virus and ensure that users of LBSL are safe and protected,” he added.
COVID-19: CACOVID spent N43.27 billion to support 3 key priorities – CBN
The Central Bank of Nigeria (CBN) has revealed that the Coalition Alliance Against COVID-19 (CACOVID) has so far incurred an expenditure of N43.27billion on the acquisition of, not only medical equipment and supplies but also food palliatives for vulnerable Nigerians.
The recent press release noted that the funds raised by CACOVID was used to support 3 key priorities – Medical facilities and equipment, food relief programs and communications plans.
The breakdown of the expenditure in the aforementioned areas are:
- Medical Facilities and equipment: In collaboration with other stakeholders, CACOVID developed 39 fully equipped isolation centers across the 36 States of the Country including the Federal Capital Territory (FCT). The sum of N4.19billion was spent in Building Isolation Centers. In addition, medical equipment such as PCR test kits for suspected cases of COVID-19 were procured along with other required medical items at a cost of N9.02billion.
- Food relief programs: As a way of cushioning the impact of the lockdown on vulnerable citizens, CACOVID provided palliatives in the form of essential food items to 1.7million households, which is equivalent to supporting 8 million Nigerians. A total of N28.76billion was spent procuring these food supplies.
- Communication plans: CACOVID also worked to improve awareness in rural communities on the COVID-19 virus, and the measures community health workers and other members of society should take when someone in the community is suspected of having symptoms similar to that of COVID-19. In lieu of this, expenses were incurred on Print, TV, radio, and social media as part of CACOVID communication plans.
Why this matters
The recent disclosure is in line with the principle of accountability and transparency, as the organization seeks to lay bare facts regarding expenditure incurred so far; thereby, nipping in the bud, suspicions and unfounded rumor.
What you should know
Due to the sudden global health challenge (COVID-19), which wreaked havoc on most economies of the world, coupled with declining oil prices and declined government revenue; the Bankers Committee, comprising the Central Bank of Nigeria and the Deposit Money Banks, as well as key stakeholders in the private sector came together to set up an alliance in March 2020, known as the Coalition Alliance Against COVID-19 (CACOVID).
The ultimate objective is working with the government to provide support in areas that would result in improved health and welfare for vulnerable Nigerians.
PZ Cusson announces retirement of Chairman, Kola Jamodu
PZ has announced the retirement Chief Kola Jamodu as Non-Executive Director and Chairman of the Board of the company.
The Board of Directors of PZ Cussons Nigeria Plc has announced the retirement of Chief Kola Jamodu as Non-Executive Director and Chairman of the Board of the company.
This disclosure was made in a notification signed by the Company’s Secretary, Jacqueline Ezeokwelume, and sent to the floor of the Nigerian Stock Exchange.
According to the notification issued by Mrs. Ezeokwelume, Chief Kola Jamodu will retire as a Non-Executive Director and Chairman of the Board effective 11 December 2020 to enable him to pursue other personal endeavours.
What you should know
Chief Jamodu joined PZ Cussons Group in 1974 and served in Executive positions for 24 years rising to the position of Chief Executive Officer of the Company, a position he held until he retired in 1999.
He thereafter continued as a Non-Executive Chairman of the Board until 2001 when he was appointed as the Honourable Minister of Industry of the Federal Republic of Nigeria, a position he held until 2003.
He was reappointed as the Chairman of the Board of PZ Cussons Nigeria Plc in November 2014.
Abbey Mortgage Bank announces appointment of 6 Directors
The Central Bank of Nigeria has approved the appointment of 6 Directors of Abbey Mortgage Bank.
Abbey Mortgage Bank has announced the appointment of 6 Directors, including Mr. Madu Hamman as the substantive Managing Director.
The disclosure is contained in a notification, signed by the Bank’s Secretary, Geoff Amaghereon Esq. and sent to the Nigerian Stock Exchange market today, as seen by Nairametrics.
What you should know
Five (5) other Directors were appointed by the CBN – 2 Executive and 3 Non-Executive Directors.
The names and portfolios of the Directors are; Mr. Mobolaji Adewumi – Executive Director; Mr. Oladipupo Ayodele Adeoye – Executive Director; Mr. Nonso Okpala – Non-Executive Director; Professor Marius N. Umego – Non-Executive Director; and Brigadier-General John Obasa (rtd) – Non-Executive Director.
The notice also mentioned that all appointments have been approved by the Central Bank of Nigeria.