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Volvo Wins Bidding For 300 Electric Trucks From DSV

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Volvo Trucks and global logistics company DSV have signed a cooperation agreement for 300 electric heavy trucks. The deal is one of the largest commercial orders to date for Volvo electric trucks. With the order, DSV will have one of the largest company fleets of heavy electric trucks in Europe.

DSV, a global leader in transport and logistics, is moving quickly towards a more sustainable future on the roads and highways. Every day more than 20,000 trucks are transporting goods for the company’s customers around the world and a growing number will become electric or run on renewable fuels in the years to come.

Now, DSV and its contractors, together with Volvo Trucks, have agreed to plan for the deployment of 300 zero-exhaust emission electric trucks across DSV operations in Europe, as part of the company’s plan to deploy 2000 electric trucks in its fleet by 2030. With the order, DSV will have one of the largest company fleets of heavy electric trucks in Europe.

The agreement also includes 500 Volvo trucks with highly fuel-efficient diesel and gas drivelines. All trucks are planned to be delivered between 2024 and 2026.

“I’m very proud to deepen the partnership we have with DSV. Collaboration and a strong commitment to really make a difference is essential for making sustainable transport and big CO2 reductions a reality. This order is proof of their trust in our company and shows that zero-exhaust emissions transport is a viable solution here and now,” Roger Alm, President Volvo Trucks said.

“Collaboration across sectors is key to battle climate change, and we are happy to extend our partnership with Volvo in our joint effort to reduce emissions in the transport industry. As a global leader in logistics, we must try to stay at the forefront of the green transition and this agreement is a fantastic example of how new technologies can be brought to market at scale to make them more accessible for our customers. The deal with Volvo is an important step towards enabling a more sustainable future in trucking,” Søren Schmidt, CEO DSV Road said.

The new trucks being supplied to DSV will include the new Volvo FH Aero Electric, which has improved aerodynamics, making it even more energy efficient.

DSV is the largest transporter of goods for the Volvo Group, and the company already has electric trucks from Volvo in its fleet. These trucks are used in Sweden and Denmark and DSV has established charging infrastructure, using electricity from solar panels, at its distribution centers in both countries.

Both DSV and Volvo Group are committed to the Science-based targets initiative, which drives ambitious climate action in the private sector, in line with the goals of the Paris Agreement.

3,800 electric trucks in 46 countries
Since 2019, Volvo Trucks has delivered more than 3,800 electric trucks to customers in 46 countries around the world.  Volvo currently offers the industry´s broadest product line-up with eight fully electric models, meeting the needs in a wide range of applications – from urban distribution and waste management to regional haul and construction. Until now, Volvo’s electric trucks have driven more than 90 million kilometers or 2,200 laps around the world in operation.

 

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Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

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By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

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Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

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By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

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Business

Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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