Revenue generation: Abuja transport company introduces cashless policy




ABUJA – The Abuja Urban Mass Transport Company (AUMTC) said it had finalised plans to go cashless in its financial operations in 2015, to improve on its revenue generation.
Mr Eddie Ajon, AUMTC’s General Manager, Operations, told the News Agency of Nigeria (NAN) in Abuja on Wednesday that the policy, which was already in its pilot stage, was in compliance with the Central Bank of Nigeria (CBN) policy.
He said it would entail installation of Electronic Ticketing Devices (ETD) in mass transport buses operating in the Federal Capital Territory.
“We have decided to comply with the Central Bank of Nigeria’s directive to go cashless by installing the Electronic Ticketing Devices (ETD) in all our buses.
“With the ETD, passengers do not have to carry cash; they will just be required to purchase the smart card which they can use in any of our buses.
“It will also help reduce pilferage by helping in passengers counting, and also boost our revenue generation,’’ he said.
Aton said that the monthly revenue generation of the company, which currently stood at between N50 million and N60 million, was expected to rise considerably with the ETD.
“Our average monthly revenue is between N50 milion and N60 million but this is a far cry from what we can potentially realise.
“With the ETD and the deployment of adequate infrastructure in every part of the territory, our revenue generation is expected to improve considerably.
“ In modern urban transportation, commuters are not supposed to walk for more than five minutes before they can board buses, but presently, we do not have such infrastructure,’’ he said.
He said that the machine, when fully operational, would also improve the operational performance of the company.
“The ETD will also help improve our performance in the sense that it will reduce the time spent on loading the passengers and increase the number of time that each bus can operate.
“Performance issue is very important to most of the decisions we take,’’ he said. (NAN)

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