The government of Lagos State has initiated the free return of impounded vehicles to their owners.
According to the report, this is due to the cash shortage caused by the Central Bank of Nigeria’s (CBN) Naira redesign program.
Governor Babajide Sanwo-Olu suggested measures to mitigate the impact of the Naira redesign strategy three weeks ago.
As part of an effort to expand the palliative measure, the government has decided to return impounded automobiles for minor traffic violations to their owners and waive the associated fees.
In an interview on Tuesday, Transportation Commissioner Dr. Frederic Oladeinde stated that Governor Sanwo-Olu expanded the action by guaranteeing that seized automobiles for minor traffic violations were returned to their owners with fines waived.
He stated, “When you consider what the governor promised, particularly amid the cash shortage, we have decreased public transportation fares by fifty percent.” In an effort to ease the suffering of our people, we have cut the fare on our BRTs and all Lagos State-funded public transportation, including Lag Ride, by fifty percent.
In addition, we have established food banks in specific places. We are started to distribute palliatives to help folks withstand the current monetary crunch.”