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Ambode hinges survival of businesses on technology, strong values


Wife of Managing Director, Providus Bank, Dame Winnie Akpani (left); Lagos State Governor, Akinwunmi Ambode; Managing Director, Providus Bank, Walter Akpani; Oba of Lagos, Rilwanu Akiolu and Lagos State Attorney General and Commissioner for Justice, Adeniji Kazeem during the commissioning of the headquarters office complex of the bank in Victoria Island, Lagos…yesterday.PHOTO: FEMI ADEBESIN-KUTI

LASTMA vows to deal with violators of traffic laws

The Lagos State Governor, Akinwumi Ambode has said businesses must be driven by strong values, technology and a robust risk management system to survive in the 21st century.

Ambode said the state was relentless in its efforts to provide safe and secure environment for businesses to thrive.He called on business owners to pay special attention to Small and Medium Scale Enterprises (SMEs) to create jobs for the teeming unemployed youths.

Speaking at the official commissioning of the corporate head office of Providus Bank in Lagos yesterday, he said the state was working tirelessly to improve the ease of doing business while ensuring that all businesses have what is required to succeed even in a recession.


“We have maintained a consistent programme of actively sustaining the economy, ensuring infrastructure development and engaging competent local contractors who will employ our people.

“A recent report says that the Nigerian economy was coming out of recession. While we are delighted that our efforts have contributed to this, there is still more to be done to achieve a convergence in the foreign exchange rates and force down inflation. This will enable more businesses to access funds and meet their obligations,” he added.

He commended the federal government for its economic recovery plan and the Central Bank of Nigeria (CBN’s) effort in stabilising the exchange rates and expressed optimism that many businesses would bounce back to profitability.

“I am particularly happy that the bank chose to have its headquarters in Lagos and I hope that it will bring more financial inclusion to Lagos by providing all people with financial services,” he said.

He urged financial intermediaries to facilitate the growth of the economy by designing programmes in the rural sector that would support made in Nigeria goods. Ambode noted that banks should pay special attention to SMEs, which are the fastest vehicles for job creation.

Managing Director and Chief Executive Officer of Providus Bank, Walter Akpani said the bank would partner with the state and country to develop the economy. He said the bank currently employs over 250 staff directly and 50 indirectly and assured that it would distinguish itself in service delivery, speed, cost savings, transparency, innovation and excellence.

Meanwhile, The Lagos State Traffic Management Authority (LASTMA) yesterday urged motorists to comply with traffic laws in the state as it would deal decisively with violators in accordance with the law.

General Manager of LASTMA, Olawale Musa stated this at a meeting with zonal heads and commanders at its headquarters in Oshodi, saying the agency was disappointed at some motorists who had formed the habit of flouting traffic laws and disregarding directives of traffic personnel on the roads.

He added that indiscipline and lawlessness on the roads were capable of creating chaos and disorderliness and warned that LASTMA would deal with any motorist caught violating the state traffic laws.Musa noted that the agency had been inundated with complaints from members of the public to act decisively on violators of traffic laws, adding that it was not uncommon to see motorists disregarding traffic lights, zebra signs and repairing their faulty vehicles on the roads.


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Akinwumi Ambode
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