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We’re Not Under FG’s Pressure To Relocate To Lagos, Kaduna — Innoson Motors

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Innoson Motors CEO, Innocent Chukwuma

The Innoson Vehicle Manufacturing (IVM) says it is not under any form of pressure from the federal government to relocate its company to either Lagos or Kaduna State.

Mr Cornel Osigwe, IVM’s Head, Corporate Communication, made the assertion in a statement in Awka on Wednesday.

He said that the Nigeria’s premier automobile company, with headquarters in Nnewi had not received any directive from the federal government asking it to relocate.

“There has never been any such directive from the federal government or her agents to withdraw our license based on our company’s current head office,” he said.

Osigwe said that the company was constrained to make a statement following reports falsely credited to its chairman, Chief Innocent Chukwuma.

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He described the report as intended to sow a seed of discord between the company and the federal government, saying, “this plot has already failed”

“We would have ignored the statement and the publication in its entirety, knowing that they are the handiwork of mischief makers, but being silent may be misconstrued as acceptance.

“We are urging the public to disregard such report, we want to set the record straight, there is no such order from the federal government,” he said.

The corporate affairs manager further said that the IVM had continued to maintain a robust relationship with the federal government.

He further said that the President Muhammadu Buhari-led government had taken practical steps towards supporting the growth of the automobile sector.

“Under the current administration, the Nnewi Auto-Industrial Park was initiated to support automobile parts manufacturing companies.

“This initiative which is aimed at supporting Nigeria’s automobile manufacturing companies is receiving a boost under the current administration,” he said.

Osigwe, who noted that IVM was a major beneficiary of the automobile park initiative, advised the public to disregard the report.

“Let us remember that Innoson Group’s chairman has recently announced that the company enjoys huge patronage and support from the Buhari-led administration.

“As a company, we are patronized by government agencies such as the Nigerian Military, Police, Federal Road Safety Commission, Fire Service and Immigration.

“We are in partnership with the Nigerian Air Force for development and promotion of joint activities and associated Aerospace Ground Equipment,” he said.

(NAN)

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Business

SON Certifies Innoson Motors, Issues MANCAP Certificate

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The Standards Organisation of Nigeria (SON) on Wednesday presented the Mandatory Conformity Assessment Programme (MANCAP) certification to Innoson Vehicles Manufacturing (IVM).

The certificate was presented to IVM Chairman/Chief Executive Officer, Dr Innocent Chukwuma, by SON Director-General, Osita Aboloma, in Nnewi in Anambra State.

Aboloma noted that the award shows that the company passed the rigorous process of inspections and quality assurance in the last five years.

He added that it also demonstrated compliance with the relevant product standards.

“With the award of MANCAP’s certificate to Innoson brand of vehicles, we are demonstrating how standardisation and conformity to standards offer strategic opportunities for increased efficiency.

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“We are, in effect, saying that Innoson brand is fit to be used in Nigeria and beyond,” Aboloma said.

In his Goodwill message, the National President of Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA), Hajiya Saratu Iya Aliyu and who was represented its National Vice President, Mr Humphrey Ngonadi noted that for Innoson Vehicles to receive the Standard Organization of Nigeria (SON) Mandatory Conformity Assessment Programme (MANCAP) means that it met the relevant Nigerian Industrial Standards (NIS) and it is a “confirmation of the capacity of our industry”.

The NACCIMA President assured Innoson Vehicles of the continuous support of NACCIMA to his company.

Giving his remarks, the Innoson Vehicle Boss, Chief Chukwuma gave the assurance that Innoson Vehicles will continue to employ international best practices in the production of its vehicles so that they can compare favorably in terms of durability, fuel economy and safety.

He stated further that the company is now producing affordable cars that an average Nigerian worker can purchase easily.

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Union Bank Sells UK Subsidiary

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Union Bank of Nigeria (UBN) Plc has entered a share sale and purchase agreement to divest its 100 per cent equity stake in its United Kingdom (UK) subsidiary, Union Bank UK (UBUK) Plc.

In a regulatory filing just released at the Nigerian Stock Exchange (NSE), the board of Union Bank stated that the sale was in line with the bank’s strategy to geographically streamline its business operations to focus on growth opportunities in Nigeria.

According to the bank, following a competitive bid process, MBU BidCo Limited (MBU), an acquisition vehicle wholly owned by MBU Capital Limited (MBU Capital), was selected as the preferred bidder. The completion of the sale is however still subject to regulatory approvals from the relevant regulatory authorities in Nigeria and the UK.

MBU Capital is an investment management firm founded in 2013 and based in Mayfair, London. MBU Capital has active interests in financial services, healthcare, education, real estate and technology. MBU Capital (UK) LLP is authorised and regulated by the Financial Conduct Authority.

Chief Executive Officer, Union Bank of Nigeria (UBN) Plc, Emeka Emuwa said the bank decided that as the banking landscape shifts towards digital and agency banking to drive financial inclusion, the Nigerian market presents robust long-term opportunities for it.

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He pointed out that the divestment allows the bank to channel its focus and capital towards mining the Nigerian opportunities fully.

“Through the sale, we are better positioned to deliver greater value to the organisation and its stakeholders as well as continue to build the future of banking in Nigeria. The terms of the sale of UBUK delivers substantial value to our shareholders, while also entrusting its customers and trading partners to a high-quality financial services institution which will work with existing management to deliver a stronger and more profitable entity,” Emuwa said.

Founder and Chief Executive Officer, MBU Capital, Mohammed Iqbal said the investment group was delighted with the acquisition, describing it as a huge opportunity to build on UBUK’s strengths in international markets to create a new-style bank which is focused on the needs of UK and international SMEs and entrepreneurs.

According to him, many customers are seeking a bank which truly understands the needs of entrepreneurial, fast-growing businesses.

“We believe that our acquisition and vision for UBUK offers the potential for significant growth for the bank. We look forward to working with our new colleagues at UBUK to continue to service the needs of its clients. We also look forward to sustaining and deepening relationships with UBUK’s existing trading partners,” Iqbal said.

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Peace Mass Transit Launches 50 Brand New Buses [PHOTOS]

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Peace Mass Transit (PMT) Limited, the leading mini-bus transport company in the country, has readied a total of 50 brand new buses for injection into its fleet.

The buses are all products of newly established PMT Vehicle Assembly Plant, located within the Emene Industrial Layout headquarters of the company.

PMT Executive Director in charge of operations, Enete Ifeanyi Henry Clinton disclosed that the new buses would be assigned to drivers and has already being deployed to all the PMT depots across the country.

Peace Mass Transit has an active fleet of 4,000 buses with at least 2,000 on the road daily. It regularly freshens up the fleet to meet customer expectations and also maintain its market leadership.

PMT Founder and Chief Executive Officer, Chief Samuel Maduka Onyishi, maintains he runs the company as a “ministry” and not strictly as a business, and would, always do what it takes to keep the company as an industry leader, at all times.

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“The brand new buses we are injecting cost almost N 17 million per unit, but I have a pact with both God and our huge clientele to offer the best possible services at all, times,” he stated after inspecting the newly assembled buses on Monday.

Customers are encouraged to book online through www.pmt.ng, or visit our website –peacegroup.ng

Chief Onyishi, Member of the Order of the Niger (MON) expressed gratitude to God and also to Nigerians who have trusted the brand (PMT) for over 20years. He urged them to keep their faith in the company and promised to always deliver beyond their expectations.

“Our customers deserve even more and no less,” he added. “We will never take their patronage for granted because they have brought us this far.”

He reiterated that the introduction of the new buses was a “strategic fleet rejig” and in no way signified or suggested older vehicles had any maintenance issues or were about to be discarded.

“Our maintenance culture is top-notch and the team is manned by technicians and engineers some of whom were trained abroad.

All PMT vehicle plying the highway, are regularly checked for maintenance, to avoid breakdown. All our vehicles run on strong quality tires which are replaced upon attainment of a certain mileage.’’

He reiterated that the introduction of the new buses was a “strategic fleet rejig” and in no way signified or suggested older vehicles had any maintenance issues or were about to be discarded the chairman concluded.

Special, distinguishing features of the new buses include, but not limited to EBS/ABS brake system combined, digital dashboard, factory-fitted speed limiter, on-board TV, and DVC player for customers’ non-stop pleasure.

According to the Executive Director, Ifeanyi, ‘’Multiple charging points and luggage controls are being provided, with all the buses fully air-conditioned, which includes protective seat belts for all passengers.

Free Wi-Fi services for passengers are still in the works.

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