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UBA Partners CIG Motors, Lagride, Launches $100 Million “Drive to Own” Vehicle Financing Scheme [PHOTOS]

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In a landmark move set to redefine urban mobility and promote financial inclusion in Nigeria, United Bank for Africa (UBA) Plc, has announced a $100 million financing partnership scheme with CIG Motors, Lagride, and Lagos State Government.

By the partnership, tagged “Drive to Own”, UBA will be the key financier, offering loan subscriptions that will allow beneficiaries to own a CIG/Lagride vehicle by contributing an equity payment of just 10% of the total vehicle cost, with the remaining amount payable over a period of 48 months.

The scheme, which was unveiled during a ceremony in Alausa, Lagos, on Wednesday, is aimed at empowering 3,500 drivers in the state with transformative asset ownership opportunities, thus setting a new benchmark for structured credit in Africa’s mobility sector.

UBA’s Group Managing Director/CEO, Oliver Alawuba, who delivered the keynote remarks at the event, highlighted the bank’s visionary commitment to inclusive economic growth, fostering MSME development, and creating tangible opportunities for the younger generation. He said, “This partnership with Lagride is transformational. It will drive inclusivity for economic growth and ensure progress for everyone. We are committed to helping you, and please believe me, this is just the beginning.”

He took the opportunity to share a deeply personal testament about the power of opportunity: “My father started as a driver. I went to school thanks to that income… That will be the story of some of you, and even better,” he said.

Alawuba also emphasised UBA’s focus on solving immediate, on-the-ground challenges, adding, “I am personally looking at the immediate problems we have right here in Lagos as we will be connecting the initiative to broader urban development. Lagos will change because of us. And we will not stop in Lagos; we will move beyond.”

Echoing the GMD’s vision, UBA’s Head, SME Banking, Babatunde Ajayi, noted that this partnership is built on a fundamental rethinking of traditional banking models.

“Not every business has a shop. Some businesses have wheels. Every commercial driver is running a business, yet they have remained outside formal finance. We did not ask if they fit our old structures; we designed credit that fits their reality, and that is the way we work at UBA,” Ajayi added.

The Chairman, Lagride, Diana Chen, who noted that the company has built a data-driven and credit-ready mobility platform for drivers, stressed that transportation is the backbone of Africa’s economic future.

“Lagride now stands as the most structured, data-driven, and credit-ready mobility platform in Nigeria,” Chen said. “This data enables UBA to evaluate driver performance with accuracy and confidence, creating a new standard for bankable driver financing,” he said.

The partnership strategically aligns the strengths of the three organizations, with UBA providing the financial backbone, CIG acting as a trusted provider of viable business opportunities, and Lagride offering a technology-driven platform that guarantees a sustainable and dignified livelihood for its driver-partners.

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Army Declares 38 ISWAP Leaders Wanted, Offers Cash Reward for Top Commander

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The Nigerian Army has declared 38 senior leaders of the Islamic State West Africa Province (ISWAP) terrorist group wanted.

In a statement on Wednesday, the headquarters of Operation HADIN KAI said the information on the terrorist leaders was obtained during offensive operations in the Lake Chad region of Borno State, where troops recovered a camcorder and other intelligence materials.

The army said forensic analysis of the recovered devices led to the identification of key ISWAP commanders and their locations within the Mangari–Metele–Dogon Chukun axis in Abadam and Kukawa LGAs.

Among those declared wanted is Abu Musa Al-Mangawi Baa Shuwa, identified as the Wali (governor) of ISWAP and one of the group’s most wanted leaders in the Lake Chad Basin.

Others include Muhammad Jidda, also known as “The One-Handed Man”, who was identified as the group’s deputy leader and Amirul Jaish, as well as Hamad Abu Hanifa, the Amirul-Fiya of ISWAP.

The army said a financial reward would be offered for credible information leading to the arrest of Abu Musa Al-Mangawi Baa Shuwa.

The army added that all information provided by members of the public would be treated with strict confidentiality, while the identities of informants would be protected.

Operation HADIN KAI urged residents to support ongoing counter-insurgency efforts by providing timely and credible intelligence through established security channels or by calling 07084988859.

 

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LAWMA Targets Cleaner Lagos with 150 New Compactor Trucks Before Year-End

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The Lagos Waste Management Authority has announced that out of the 3,000 compactor trucks of different sizes and capacities expected to arrive in the state within the next three years to strengthen waste collection and evacuation across the state, 150 will be delivered by the end of this year.

LAWMA added that 150 of the new compactors, which include tricycle compactors designed for narrow streets and hard-to-reach communities, form part of the first phase of the procurement programme.

The Managing Director/Chief Executive Officer of LAWMA, Dr Muyiwa Gbadegesin, made this known on Tuesday while inspecting the ongoing rehabilitation of Road E at the Olusosun Disposal Facility to evaluate the progress of the project.

The Director of Public Affairs at LAWMA, Mukaila Sanusi, disclosed this in a recent statement obtained by The PUNCH.

Gbadegesin described the project as a critical intervention aimed at improving access to the facility and accelerating waste evacuation across the metropolis.

“The Lagos State Government had concluded plans to acquire 3,000 compactor trucks of different sizes and capacities over the next three years to strengthen waste collection and evacuation across the State. About 150 of the new compactors, including tricycle compactors designed for narrow streets and hard-to-reach communities, are expected to arrive before the end of the year as part of the first phase of the procurement programme,” he added.

Gbadegesin noted that the state requires no fewer than 2,000 operational compactor trucks to effectively manage the volume of waste generated daily, stressing that the new fleet would improve service delivery, strengthen the operations of private sector participants and expand waste collection coverage across the state.

He further disclosed that the modern transfer loading station model would be replicated across Lagos as part of the state government’s long-term strategy to modernise waste management infrastructure, reduce haulage distances, improve operational efficiency, lower transportation costs and support the gradual transition from landfill-dependent waste disposal to a more sustainable waste management system, driven by resource recovery and the circular economy.

While appealing to residents for continued understanding and cooperation, the LAWMA boss assured them that the current waste evacuation delays were temporary and would gradually ease as the rehabilitation of Road E progressed, additional operational platforms became available, and the state’s ongoing investments in modern waste management infrastructure began to yield results.

He reaffirmed LAWMA’s commitment to delivering efficient, reliable and sustainable waste management services, while commending Governor Babajide Sanwo-Olu for his continued investment in modernising Lagos’ waste management system through strategic infrastructure development, fleet expansion and innovative partnerships.

The LAWMA boss reiterated that the temporary delays being experienced in waste evacuation across parts of Lagos will soon ease following the ongoing rehabilitation of Road E at the Olusosun Disposal Facility, which is expected to restore seamless access for waste collection vehicles and significantly improve evacuation operations.

He disclosed that the rehabilitation, being undertaken by Zoomlion Nigeria as part of its Corporate Social Responsibility initiative, would enable compactor trucks to access the disposal facility with greater ease, reduce turnaround time and enhance operational efficiency.

Gbadegesin explained that the recent heavy rainfall had significantly affected access to the Olusosun disposal facility, hampering the movement of compactor trucks into and out of the site and contributing to the temporary delays in waste evacuation experienced in some parts of Lagos.

He expressed confidence that the ongoing rehabilitation of Road E would restore seamless access to the facility and substantially improve waste evacuation across the state.

According to him, Olusosun currently receives approximately 10,000 metric tonnes of municipal solid waste daily, making it one of the busiest waste disposal facilities in Africa and underscoring the importance of maintaining uninterrupted access to the site.

He explained that while the Lagos State Government remained committed to decommissioning the Olusosun disposal facility, the exercise would be implemented as a carefully managed process to avoid disrupting waste management services across the state.

Gbadegesin stressed that the facility could only be fully decommissioned after adequate alternative infrastructure had been put in place to accommodate the enormous volume of waste generated daily, noting that shutting it down without viable alternatives would create serious operational challenges.

He identified the construction of two modern transfer loading stations by Zoomlion at Olusosun and Solous III as one of the major alternatives being developed to support the transition.

He explained that each of the new facilities would process “2,500 metric tonnes of waste daily, representing about twenty times the capacity of the existing Simpson Transfer Loading Station, and would significantly improve the efficiency of waste transportation across the State.”

The LAWMA boss added that the agency was also creating additional dumping platforms within the Olusosun disposal facility to improve traffic flow, minimise waiting time for compactor trucks and further enhance operational efficiency pending the completion of the new transfer loading stations.

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Gunmen Kidnap 60-Year-Old Oyo Headmaster, Demand N30m Ransom

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Gunmen have allegedly kidnapped the 60-year-old headmaster of Nomadic Basic School, Igbojaye, Budo Aare, in Itesiwaju Local Government Area of Oyo State, Kolawale Mathew Owoade, popularly known as Onaiye, and demanded a ransom of N30m for his release.

Investigations by our correspondent revealed that the incident occurred on Saturday evening, July 11, 2026, between 5 pm and 6 pm.

The victim’s son, Abiola Owoade, said, “The incident happened when my father was returning from his farm at Budo Aare within this local government area.

“Shortly after the abduction, the kidnappers contacted the family using the victim’s mobile phone and demanded a ransom of N30 million for his release.

“However, at about 8:20 a.m. on Sunday, July 12, 2026, a search team recovered his motorcycle abandoned in the bush,” he said.

Abiola Owoade called on the “Nigerian Army, the Nigeria Police Force, the Department of State Services, the Nigeria Security and Civil Defence Corps, the Western Nigeria Security Network, codenamed Amotekun, hunters, vigilantes and other security agencies to intervene and rescue his father.”

The victim’s colleagues and members of the education community in the local government also expressed sadness over the incident.

When contacted, the Oyo State Police Public Relations Officer, Olayinka Ayanlade, confirmed the incident on Monday.

The police spokesperson said, “I can confirm to you that a farmer, Mathew Owoade, was kidnapped at his farm in Budo Aare, and efforts are on to rescue the man unharmed and arrest the perpetrators.”

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