Transport

Capital Market Operators Want Professional As Oteh’s Replacement

Published

11 years ago

January 14, 2015

Some capital market opera
tors has urged the Federal Government to appoint a seasoned stock market operator as a replacement to Ms Arunma Oteh, as the Director-General of the Securities and Exchange Commission (SEC).
They told newsmen in separate interviews in Lagos that the appointment of an experienced capital market operator would facilitate sustained wooing of local investors into the market.
The President, Association of Stockbroking Houses of Nigeria (ASHON), Mr Emeka Madubuike, said government should consider people that understand market issues.
“Government should appoint an experienced market operator that is grounded in the market as the new DG.
“They should consider somebody that has seen the ups and downs of the market,” he said.
According to him, the incoming director-general must be somebody that will work closely with all the market stakeholders in the interest of the market.
Alhaji Rasheed Yussuf, the immediate past President of ASHON, said the operators were pushing for an operator that understood the Nigerian market.
“The director-general must work closely with local investors to increase their participation in the market with less emphasis on foreign investors, ’’ he also told reporters.
He noted that the commission’s policies in the past focused on foreign investors, saying emphasis should be on local investors for market growth and development.
“SEC focused on attracting foreign investors when we had not developed our local base.’’
Yussuf called for a stronger collaboration between SEC and the market operators to encourage local participation.
He said:“Our target is to have local investor participation of 80 per cent and foreign investor participation of 20 per cent.”
Also speaking, Dr David Ogogo, the Registrar/CEO, Institute of Capital Market Registrars, advised government to appoint a credible person that would be welcomed by the market as Oteh’s replacement.
Ogogo stressed the need to raise local investors’ confidence in the market.
He, however, commended the exit of Oteh from the commission at the expiration of her tenure.
“The best thing is for her to go considering her problem with the National Assembly.”
SEC had on Jan. 11 announced the exit of Ms Arunma Oteh as the commission’s DG.
It said Oteh would be remembered for her passion, purpose, articulation and implementation of reforms driven as well as the vision to transform the Nigerian capital market to world-class status.
“She was in a hurry to see Nigeria achieve a world-class capital market that will drive development and make Nigeria one of the most attractive investment destinations,” it said.
Oteh was appointed by the late President Umar Yar’Adua in 2009, but assumed duties in January 2010.

Business

ABC Transport Founder Bags Transport, Logistics Award

Published

1 day ago

June 29, 2026

The Tide

The Founder of ABC Transport Plc, Mr. Frank Nneji, has been honoured with an award in recognition of his outstanding contributions to the growth, development and transformation of Nigeria’s transportation and logistics industry.

The award was presented by the management of City Business News Online during the organisation’s 10th Anniversary Celebration held in Lagos recently.

The event, which attracted leading stakeholders from the maritime, logistics, transportation, energy, banking and capital market sectors, marked a decade of impactful business journalism and industry reporting.

It also served as a platform to recognise institutions and individuals whose contributions have significantly impacted national development and economic growth.

Presenting the award, Dr Boboye Oyeyemi, former Corp Marshall of FRSC, President, Chartered Institute of Logistics & Transport (CILT) and Keynote Speaker at the 10th Anniversary Lecture held in Lagos recently commended ABC Transport PLC for sustaining innovations.

For more than three decades, Nneji has remained at the forefront of efforts to modernise intercity transportation in Nigeria through the introduction of world-class operational standards, passenger safety initiatives and innovative transport solutions.

As the founder of ABC Transport Plc, he transformed what began as a modest transport enterprise into one of West Africa’s most recognised transportation and logistics brands, adding that the company today operates in more than 100 locations across Nigeria, Ghana, Togo and the Benin Republic, providing passenger transport, logistics and related services.

ABC Transport Plc also made history as the first transport company to be listed on the Nigerian Stock Exchange, a milestone that opened new opportunities for investment in the transport sector and broadened public participation in the company’s growth.

The company currently boasts over 22,000 shareholders.

Beyond transportation services, Nneji has played a significant role in advancing local vehicle assembly and industrial development through TSS Motors, a subsidiary of ABC Transport Plc.

Through its assembly plant in Enugu, the company assembles FORLAND vehicles, TSS trailers and SHACMAN trucks, contributing to local content development, job creation and Nigeria’s automotive manufacturing aspirations.

Industry stakeholders have often credited Nneji with pioneering innovations that elevated standards in the transport sector, particularly in areas of fleet management, passenger comfort, safety compliance and professional service delivery.

A graduate of the University of Nigeria, Nsukka, Nneji has continued to enhance his leadership and management capabilities through executive education programmes, including the Chief Executive Programme at the Lagos Business School and advanced executive training at the Wharton Business School.

His contributions to transportation and logistics have earned him several professional and national recognitions. He is a Fellow of the Chartered Institute of Logistics and Transport (CILT) and has served in various leadership positions, including former President of the Owerri Chamber of Commerce, Industry, Mines and Agriculture.

The award, according to the organisers, is a testament to Nneji’s enduring legacy as a pioneer, industry leader and nation-builder whose contributions continue to shape the future of transportation and logistics in Nigeria and West Africa.

Business

FAAN Gives Deadline for Vehicle Standards, Tariff for Airport Taxis

Published

1 day ago

June 29, 2026

The Tide

The Federal Airports Authority of Nigeria (FAAN) has given October 2026 deadline for taxis operating at the Lagos and Abuja airports to abide by its directives of complying with operational standard and the increase of tariff from N500 to N1,500.

A statement from FAAN’s management explained that as an organisation committed to delivering safe, secure, efficient, and world-class airport services, FAAN considers it necessary to provide clarification on the issues raised and to reassure the travelling public that every action being taken is aimed at enhancing passenger experience and maintaining acceptable service standards at the airports.

“Airports are the gateways to any nation and often provide the first and last impression of a country’s image. Consequently, FAAN has a responsibility not only to ensure safety and security but also to uphold service quality across all touch-points that passengers encounter, including airport transportation services.

“So, the directive requiring airport cab operators to upgrade to newer vehicle models is informed by the need to improve reliability, comfort, safety, and overall passenger satisfaction. This is consistent with international best practices and aligns with FAAN’s ongoing efforts to elevate service standards across its airports,” the agency said.

It also noted that passengers who utilise airport taxi services deserve clean, roadworthy, comfortable, and professionally maintained vehicles that reflect the premium environment expected of a modern international airport.

“The adjustment from N500 to N1,500 should therefore be viewed within the context of prevailing economic realities and the need to sustain critical airport infrastructure and services. Even with the review, FAAN remains mindful of the challenges faced by operators and has continued to engage stakeholders constructively,” the agency said.

Transport

Automated Points Concession : FAAN Workers Gave 72hrs To Revise Decisions In PH

Published

4 months ago

March 2, 2026

The Tide

The trapatriate Unions conprising the National Union of Air Transport Employees (NUATE), and the Air Transport Service Senior Staff Association of Nigeria, (ATSSSAN), has given 72 hours Ultimatum to Federal Airport Authority of Nigeria FAAN, Omagwa Airport, Portharcourt to revise its recent decision on the concession of Tollgates and Parks to private hands.

The chairman of the Trapatriate Union, Comrade Felix Ohwoefe gave the Ultimatum yesterday immediately after the joint Unions meeting held at the Airport office of the union, Omagwa, Portharcourt.

Comrade Ohwoefe who double as the chairman of the National Union of NUATE said the two Unions have agreed to take drastic actions if the Authority of the Airport declined to step down it’s decision of concessioning the major revenue points to private hands.

According to the Union chairman, the two union was not aware of the concession plans, and that there were no due process to the procedures.

Comrade Ohwoefe said any attempt for the Airport Management to decline it’s demands towards the concession will result to barricading all entrance and access points of the Airport.

Expressing the the challenges associated to the concession, the Union Chairman said the gesture might resulted to massive sack of workers in the Airport.

The chairman also expressed foul play on the part of either individuals or government in the terms and conditions so given to the concessionaires, demanding the reasons of contracting the automated points to private hands for only 14 millions, when the FAAN is presently generating over 28 million naira monthly, even when the tariff was not reviewed upwards.

He describes the process to the procedures as fraud with intention to increase unemployment in the state.

“We are not against the concession of the Automated points, but due process must be followed. If government is concessioning the place, we are asking what will happen to our workers in the existing units.

“Secondly, if the concessionaires is taken over, they must pay higher than what the FAAN is generating presently, we are generating to the Management over 28 Millions monthly, but we had that the private company is required to pay only 14 Millions monthly, which is far below 5 percents of what we are generating presently, even when the tariff is increased, which means there is a foul play.

“The process is fraud either on the part of individual in the Government, or Government itself.

” The unions is saying no to the Concession until we come to a terms of understanding ourselves., we are afraid of loosing workers, we don’t want to loose any workers if due process is not followed in this hard of economy, we even demanding for employment of more workers in FAAN.” Comrade Ohwoefe said.

The Union used the opportunity to called on the minister of aviation, and the President of the Country, Bola Tinubu to intervene.

When contacting the Management of the Airport Authority through the head of Corporate Affairs, Dr Ngozi V. Onyeanwuna-Nwosu, she said the management has not given her the approval to say something.