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Lagos Partners CIG Motors To Acquire 5,000 Vehicles For Transport Sector [PHOTOS]

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The Lagos State Government has entered into a partnership with CIG Motors Company Limited to procure 5,000 brand new vehicles for its transportation system.

The agreement was signed at the Government House in Alausa, Ikeja, on Monday. Governor Babajide Sanwo-Olu revealed that Ibile Holdings Limited, a state-owned entity, played a crucial role in facilitating the partnership.

The project aims to revolutionize road transportation in Lagos, generating employment opportunities and stimulating economic growth for the state’s residents.

“Today, we’ve used our investment outfit called the Ibile Holdings and I think I need to thank them, the current management staff, for responding quickly to their bill to use our investment vehicle, the Ibile Holdings to execute what we believe will be a very successful joint venture,” the governor said.

“The joint venture between the Ibile Holdings and CIG Motors and CIG Motors Company Limited, GAC Motors, especially the brand, in the acquisition of 5,000 new vehicles within our land border.

“We started the first 1,000. We’ve seen how we did. We’ve provided jobs to our people. We’ve created an e-hailing service. But we realise that we need to tweak it.

“We need to provide a lot more fleets and we need to also push the brands to be more acceptable and to be able to move around in different groups and brands of the state.

“In that goal, the first order of vehicles was to see 2,000 coming and in that 2,000, we will be having electric vehicles. That has been the conversation.

“Also these vehicles, we imagine, will begin to change the carbon footprint that we’ve all been talking about as in the future of transportation, as in the future of energy transition, the future of climate change, until we don’t want to take the vaccine.”

Sanwo-Olu also announced plans to introduce carpooling and logistics services, as well as executive chauffeur and rental services, to complement the new transportation system.

“We’re actually a city that is proactive and that lives with other big and major cities of the world and so you will see that this partnership is not just an e-hailing service,” he added.

“It’s also to provide smart taxes for us to be able to do what we call carpool, for us to be able to solve logistic problems, for us to be able to solve delivery problems, and for us to also have executive chauffeur and reliable rental services.”

Sanwo-Olu added that the state plans to venture into air transportation.

“I think the only vertical, which I’m also going to announce here, is that we want to go into air transportation and for us, that will very quickly encircle everything in public transportation that you can imagine in the world,” the governor said.

“Lagos state is also looking at that and we’re doing extensive study, so when we say that we want to build an airport, we just don’t want to build an airport.

“We want to go into that means of transportation and begin and be able to do it and do it very, very well.”

Diana Chen, chairman of CIG Motors, expressed her excitement and honour to partner with the Lagos state government.

Chen commended the governor for his vision and commitment to developing the state’s transportation infrastructure.

She highlighted CIG Motors’ achievements in Nigeria, including the setting up of a fully automated assembly line for automobiles and the delivery of the first affordable brand new cars in the country.

Chen emphasised the company’s belief in keeping promises and delivering on commitments, despite challenges.

“This is our world. We keep our world as our mind. So, come this stage, we have another new and significant key partnership agreement signed today,” Chen said.

“I emphasise that this is an agreement. It’s not an MOU. That means it’s a really official authority and another highly competitive signing today.

“We, all our team here, even our great partner, Mr. Wang, he comes from China, representing JC International. They are giving us full support for this project. Our bank finance, our bank’s people, right? Your people, you know, this is a huge project.

“Mr. Henry, you know, we work together to raise the money from the capital markets. So, they are all my allies. They are all my allies to make sure this project must deliver in the next three, five years.

“In the next three to five years, we are talking to embark over 1 billion brand new cars driving on our east passport. With that 1 billion brand new cars driving on this passport, every chip, think about how much the economy will be.

“So, the GME of that project, we are talking very simple. Within five years or seven years, 1.3 billion USD, that’s our target for the team. We are talking about this one because we have a very strong sense of commercial business analysis.

“That’s why we are able to challenge that. Just contribute 20% GDP. The rest of our business people, our expertise, our international technology partner, to make sure with the deal of this project, we will help the country to revive the economy.”

BIG STORY

As WAFCON Kicks Off Today, The Falcons Of Nigeria Will Win Their 10th Title — By Seun Oloketuyi

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The energy in Morocco is electric. From the bustling streets of Rabat to the buzzing stadium corridors in Casablanca, a continental celebration of football has begun. The 2024 Women’s Africa Cup of Nations, delayed until 2025, kicks off today — and as the anthem rings out to open the tournament, one team walks into the spotlight with more than just ambition. The Super Falcons of Nigeria are here to reclaim what they’ve long considered theirs: the WAFCON crown.

Nine-time champions, decorated with decades of dominance, Nigeria’s women’s team has been the pride of African football. But this time, there’s something different. It’s not just about titles or rankings. It’s about redemption. Two years ago, the Falcons fell short, narrowly edged out of the final by host nation Morocco and forced to watch South Africa take the throne. That sting hasn’t faded — it’s fuel.

The players know what’s at stake. Asisat Oshoala, now playing for Bay FC in the U.S. after an illustrious run with Barcelona, returns with fire in her eyes and form in her boots. Alongside her, a younger generation is rising — bold, unshaken, hungry. In training, the tempo has been sharp. In their voices, confidence. In their hearts, belief,She is expected to inspire the younger generation lead by the team Captain Rasheedat and the new blood of Alozie,Ashley,Esther and Toni Payne plus Ayinde a lot is expected.

Now led by new head coach Justine Madugu, following the departure of Randy Waldrum, the Falcons are embracing a refreshed style of play — blending tactical discipline with expressive, fearless attacking football. Madugu has not only brought structure but also instilled belief, trust, and a renewed fighting spirit,Many including me are still stunned Monday Gift is not in this team but yet we are behind them.

The road won’t be easy. Morocco is loud and proud on home soil. South Africa still glows from their 2022 triumph. Zambia arrives with momentum. But even in the shadows of rising stars, Nigeria still stands tallest. When the Super Falcons walk out tomorrow against Tunisia for their opening match, they’ll carry more than just jerseys on their backs. They’ll carry history. Legacy. And expectation.

This is a team that has shaped the narrative of African women’s football for decades. Their dominance isn’t luck. It’s culture. Discipline. Passion. Every touch of the ball, every sprint, every tackle will be driven by the memory of past glories — and the desire to write a new chapter.

As the tournament kicks off today, the message from Nigeria is clear: the Falcons are flying again. Not with arrogance, but with assurance. And by the time the final whistle blows in Rabat on July 26, they believe they’ll be right where they belong — lifting the trophy for a record 10th time.

Africa is watching. Nigeria is ready.

I Totally believe Falcons will come home with the 10th Wafcon

  • Seun Oloketuyi the producer of Flying with the Falcons

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BIG STORY

“Adron Homes Made My Dream Come True” — New Homeowner Shares Inspiring Testimony

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For many Nigerians, the dream of owning a home often feels out of reach, clouded by financial limitations, uncertainty, and broken promises. But for Engr. & Mrs. Taiwo Ademola, that dream has become a beautiful reality, made possible by Adron Homes.

Speaking proudly from the comfort of his newly completed home in one of Adron’s thriving estates in Shimawa, Ogun State, Engr. Ademola shared his joy and fulfillment at finally becoming a landlord.

“When I thought about owning a home, it felt like a far-off dream,” he recalled. “But Adron Homes changed everything. Their flexible installment plan gave me the confidence to start. Today, I stand here as a proud homeowner. For anyone still doubting, Adron Homes is real, and they are here to stay.”

The Ademolas’ new home, now dedicated and celebrated, is a symbol of stability, dignity, and the fulfillment of a long-held dream. Their success story is a powerful reminder of Adron Homes’ mission to make quality, affordable housing accessible to every hardworking Nigerian, regardless of financial background.

In his congratulatory message to the family, Sir Aare Adetola EmmanuelKing, Chairman/CEO of Adron Group, expressed his delight at yet another fulfilled homeowner.

“At Adron Homes, our vision has always been to make home ownership possible for every Nigerian, and I am glad we are living up to this vision” he stated. “Every key we hand over is a step towards fulfilling that vision”.

He welcomed them into the family, describing this feat as the foundation of new beginnings and joyful memories.

Adron Homes has become synonymous with reliability, integrity, and innovation in Nigeria’s real estate sector. With flourishing estates across Shimawa, Lagos, Abuja, Nasarawa, Epe, Badagry, and beyond, the company continues to redefine affordable luxury and accessible home ownership nationwide.

As more Nigerians like the Ademolas proudly unlock the doors to their dream homes, one truth remains undeniable, with Adron Homes, dreams are not just imagined; they are built, one family, one house, one community at a time.

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BIG STORY

UBA, Wema, GTB Resume International Transactions On Naira Cards After Years Of Suspension

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Three commercial banks in Nigeria have revealed the recommencement of international transactions on their naira cards. In separate messages to customers, the United Bank of Africa (UBA), Wema Bank, and Guaranty Trust Bank (GTB) confirmed that the service is back on their naira cards. This change comes about three years after several banks halted international transactions on naira debit cards.

In a recent notice to customers, UBA stated the resumption is part of its ongoing commitment to delivering seamless and improved banking experiences. “In line with our continued commitment to providing you with seamless and enhanced banking experiences, we are pleased to inform you that all UBA Premium Naira Cards, including Gold, Platinum, and World variants are now enabled for international transactions,” the message read. “This means you can now use your Premium Naira Card for everyday payments, online shopping, POS, and ATM transactions across the world, with more ease and flexibility. If you haven’t used your card recently, now’s a great time to rediscover the convenience and prestige that comes with being a UBA premium cardholder.”

In its own statement, Wema Bank informed customers they could now “pay in dollars” using their naira cards. “Your Wema Naira Mastercard just went global! Now you can pay in dollars on all your favourite international platforms; Amazon, eBay, AliExpress? Netflix, Spotify, YouTube,” the bank noted.

In an email to customers, GTB explained that users can spend up to one thousand dollars every quarter with its naira card worldwide. “We are pleased to inform you that you now have a quarterly limit of $1,000 on your GTBank Naira Card to pay for all your favourite things anywhere in the world,” it said. “Withdrawals at ATMs Abroad: $500 quarterly. Online and POS Transactions: $1,000 quarterly. Kindly note that the quarterly limit of $1,000 covers all transactions including ATM cash withdrawals abroad, purchases on international websites, POS payments outside Nigeria, and more.”

WHY BANKS ARE MAKING THE SHIFT

Ayokunle Olubunmi, head of financial institutions ratings at Agusto & Co, explained that the improved liquidity in the foreign exchange (FX) market encouraged banks to restart global transactions with their naira cards. “The moderating premium on the parallel market transactions and the reduced arbitrage opportunities is also responsible for the decision,” he said.

Charles Sanni, chief executive officer of Cowry Treasurers, told TheCable that the smaller spread between the official and parallel market rates likely influenced the move. He added that interest rates are very high in Nigeria, which discourages borrowing to speculate on foreign exchange. “The naira has also continued to appreciate against the other major currencies of the world. More so, there has been increased diaspora remittances based on the new policy of the Central Bank of Nigeria (CBN) on opening of accounts for non-residents, particularly Nigerians in diaspora,” he explained.

Sanni also pointed to renewed confidence in FX management by the federal government and the CBN, noting improvements in fund transfers and capital repatriation. He mentioned that factors such as an improved credit rating for Nigeria, the clearance of FX backlogs, a “new trading platform, increase in oil prices from geopolitical conflicts, and banks capitalisation” also played a role.

Between July 2022 and January 2023, several other banks had also temporarily stopped international transactions on ATMs and POS channels. The pause was due to severe FX scarcity, which posed a risk to vital sectors of the economy.

In July, Standard Chartered Bank halted international transactions on its naira visa debit card. First Bank of Nigeria (FBN), on September 21, 2022, announced it would stop international transactions on its naira Mastercard. Three months later, Guaranty Trust Bank (GTBank) suspended global payments on its naira Mastercard, and Zenith Bank followed suit on January 9, 2023.

Flutterwave, Eversend, and other fintech platforms also suspended their virtual card services for international transactions.

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