Media Trust chairman re-elected director of ABC Transport

Others also re-elected directors at the 2012 Annual General Meeting (AGM) of the company, held in Owerri yesterday, include: Board Chairman, Dr Aloy Nwogwugwu, Mr Olumide Obayemi and Mrs Uche Ohimai Ehimiaghe.   The re-election of the four board members was in accordance with the provisions of section 62 of the articles of the association […]

Others also re-elected directors at the 2012 Annual General Meeting (AGM) of the company, held in Owerri yesterday, include: Board Chairman, Dr Aloy Nwogwugwu, Mr Olumide Obayemi and Mrs Uche Ohimai Ehimiaghe.

 

The re-election of the four board members was in accordance with the provisions of section 62 of the articles of the association of the company.

The meeting also unanimously appointed Mr John Amenze as a non-executive director of the company which also falls within the provision of section 248 of the Companies and Allied Matters Act of 2004.

In his remarks, the board chairman said the operational environment of the company had continued to experience plethora of social, political and economical challenges.

Nwogwugwu, represented by a member of the board, Olumide Obayemi, pointed at the security challenge experienced in some parts of the country as adversely affecting transport business.

He said the security situation remains unbearable, with growing incidents of suicide bombing and wanton destruction of lives and private assets.

According to him, the menace of kidnapping has affected many parts of the country, adding that lack of maintenance of roads in the country and infrastructure decay have remained major problems.

The Managing Director of ABC Transport Plc, Mr Frank Nneji, said the company had plans to undergo full restructuring of its cargo and haulage business. He said the restructuring of the haulage business was intended to take care of those people who did not travel again because of technology.

He said already an Indian had been contracted to head the unit, adding that there is need to re-enforce it to enhance business in that area.

He decried the poor nature of the business environment which, he said, had made the company to cut down its number of buses that plied on local roads.

Owing to that, Nneji said more buses from Lagos presently travel to countries such as Accra than within the country.

The Chairman of Media Trust was represented at the meeting by the General Manager, Business and Strategy, Aliu M. Akoshile.