Business
Enugu Modern Transport Interchange: Payment of compensation to Holy Ghost property owners begins .
Ahead of the commencement of construction of a new and modern transport Interchange (bus terminal) at Market Road, Enugu (Enugu Central Station), popularly known as Holy Ghost, the leaser of properties at the site will, from Tuesday, start receiving their compensations as agreed with the Nigerian Railway Corporation, the lessor.
The commencement of payment was made known to the Enugu State Commissioner for Transportation, Dr. Obi Ozor, on Monday.
Recall that the Enugu State governor, Dr. Peter Mbah, had, on 19th October, 2023, met with critical property owners and stakeholders on the proposed Enugu Central Station. At the meeting, Mbah had explained that the proposed Enugu Central Station was part of the larger infrastructure plan, which also includes other major modern transport interchanges at Garki, Abakpa Nike, and Nsukka. The aim, he said, was to alleviate the perennial traffic congestion, enhance safety, preserve road assets, optimise transport efficiency, and address various needs of transport sector operators in the state. He, therefore, sought their cooperation towards the realisation of the project.
Citing similar world-class developments in other parts of the world like Dubai, and Singapore, among others, Governor Mbah said there was no reason Holy Ghost bus terminal could be allowed to continue in its present state of decay, perennial traffic congestion, and high-level crimes when such overseas feats could be replicated through conscious efforts and planning.
Sequel to the meeting, the Commissioner for Transportation had on 20th October, 2023 letter formerly notified each individual occupant over a six-month notice of the government’s intention to use the location, while the lessors, the Railway Property Management Company Ltd. equally served the leasers notices of recovery of property to the on 22nd April, 2024 in line with their term of the lease.
In a copy of one of the letters by Railway Property Management Company Ltd. entitled “Notice of Recovery of Railway Land Along Market Road, Enugu”, referenced as T/P. 1794/VOL.1, signed by the Director of Land and Estate Services, A.O Abdulsalam, for the company’s Managing Director, it said the Federal Ministry of Transportation had agreed to release the said portion of Railway land to the Enugu State Government for a modern bus terminal.
The letter reads in part: “We refer to your lease of Railway land along Market Road, Enugu with Ref. No. T/P. 1794/VOL. 1 dated 02/08/2017.
“Please, be informed that the Federal Ministry of Transportation, on behalf of the Federal Government has agreed to release the portion of the NRC land, which was earlier allocated to you as referenced above, to the Enugu State Government to construct a modern transportation hub under the Transport Infrastructure Project.
“In line with our contractual agreement, the Enugu State Government has agreed to compensate you for the structures (s) constructed on the land based on an independent valuation of your structure on the land.
“Therefore, you are kindly requested to provide us with your account details through our Enugu Zonal Manager on or before 26th April 2024 to enable the Enugu State Government to credit your account with the necessary payment.
“Furthermore, as a kind gesture, the Enugu State Government has agreed to do the following: To provide you with an alternative temporary location to ease your business pending when the project is completed; to also give you the right of first refusal to return to the newly completed structure.”
Throwing more light on the development, Enugu State Commissioner for Transportation, said the temporary places had since been allocated to the affected businesses, with some already developing the new place.
“But importantly, I can say with certainty that they will start receiving alerts latest from Tuesday based on the compensation advisory sent to the state government by the Nigerian Railway Property Management Company Ltd. These are huge sums of money, but we have to do it to ameliorate the temporary inconveniences,” Ozor stated.
Meanwhile, at the meeting with Governor Mbah last year, the property and business owners, in addition to legitimate tenants numbering over 29, commended the project.
The event was attended by the owners and representatives of Anaocha South Mass Transit, Chisco Transport Company, Onitsha South Mass Transit, Farm Associates Limited, Dozie Oil Limited, A.C. Decanal Limited, Harco Oil, Pilgrimage Sisters (Osisatech), Okeyson Transport Limited, MDS Logistics Limited, Beach Crushers Association, FCMB, and Ecobank, among others.
Also, during a visit to Mbah in November to better know the project, the Chairman/CEO of Chisco Transport, Chief Chidi Anyaegbu, lauded Governor Mbah for taking responsibility to build such an important transport…
Business
Fuel may hit N2000/litre. Subsidize crude feedstock now – TUC tells FG
The Trade Union of Nigeria, TUC, has raised the alarm that the price of Premium Motor Spirit aka Petrol may climb to about N2,000 per litre if urgent measures are not taken to cushion the impact of rising global crude prices and the depreciating naira.
Speaking to newsmen on Thursday, April 9, the president of the TUC, Festus Osifo, called on the Federal Government to immediately deploy 60 percent of excess crude oil revenue above the 2026 budget benchmark to subsidise crude feedstock supplies to the Dangote Refinery and other modular refineries, a move it says will slash pump prices of petrol, diesel, and jet fuel within two weeks
“Today, comrades, we are seeing that the cost of petrol is edging towards N2,000 per litre depending on the part of the country that you are. Nigerian workers are already passing through excruciating pain as we speak.
The same way it is affecting transportation, it is also affecting manufacturing. The cost of diesel has also gone northward, meaning that the cost of production has increased. When production costs rise, the final price of goods on the shelves will also skyrocket.
If this continues unchecked, the inflation that we are currently celebrating as going downwards will reverse and start moving up again,” he stated.
Osifo outlined the proposal as an urgent intervention to cushion Nigerian workers from excruciating pain caused by petrol prices edging towards ₦2,000 per litre in some parts of the country
Business
Fuel price hike: Gov Makinde announces N10,000 transport support for workers
The governor of Oyo state, Seyi Makinde, has approved a N10,000 transportation allowance as a palliative for the state workforce to cushion the effects of the increase in the pump price of Premium Motor Spirit, otherwise known as petrol.
The Chairman of the Nigeria Labour Congress (NLC), Oyo State chapter, Kayode Martins, in a statement released on Monday, March 23, disclosed that the governor has granted the request of the union on the issue of transportation allowance.
The statement read
“Following the intervention and formal request made by the State Council of the Nigeria Labour Congress (NLC) earlier this morning, the state government has approved a N10,000 transportation allowance for all workers in the state.
The newly approved allowance is set to take effect from April 2026, providing much-needed relief to workers grappling with rising transportation costs amid current economic challenges.
This development comes as a direct response to sustained advocacy by the state NLC, aimed at cushioning the impact of increased living expenses on the workforce.
Further details on implementation are expected to be communicated by the relevant government authorities in due course.”
Business
CBN Releases New Age Limit, Guidelines On BVN Operation.
The Central Bank of Nigeria (CBN), has declared that banks and financial institutions must establish and maintain a temporary watch-list for Bank Verification Numbers (BVN) implicated in suspected fraudulent transactions.
According to the CBN in a circular dated March 12, 2026 and signed by its Director of Payments System Policy Department, Musa I. Jimoh, the apex bank said such a suspected BVN may remain on the temporary watchlist for a maximum period of twenty-four (24) hours during which the owner would be contacted to make clarifications.
The circular explained that the move is part of several new measures under a revised regulatory framework aimed at enhancing financial system stability.
“A BVN may remain on this temporary Watchlist for a maximum period of twenty-four (24) hours, during this period, the BVN owner shall be contacted to provide clarification regarding the identified transaction(s),” the circular stated.
The circular also sets an age requirement for BVN enrolment, restricting registration to individuals who have attained eighteen (18) years and above.
The CBN also added that amendments to phone numbers linked to a BVN shall be allowed only once.
“Amendments to phone numbers linked to a BVN shall be allowed only once,” the circular noted.
The apex bank stated that access to BVN databases will remain tightly controlled.
“Access to the BVN databases shall be exclusively granted to Central Bank of Nigeria (CBN) licensed financial institutions.
“Notwithstanding this provision, the Central Bank of Nigeria (the Bank) reserves the right to approve access to the BVN databases in extenuating circumstances and in accordance with the provisions of extant laws,” the circular said.
Financial institutions are expected to comply with the new requirements, and customers may be contacted by their banks if their BVNs are temporarily flagged during the new fraud monitoring process.
The new policy, as stated by the CBN, takes effect from May 1, 2026.
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