The Rivers State Government, says the Rivers Transport Company, RTC, was shutdown because they were not making enough revenue for the state.
State Commissioner for Transport, Osima Ginah in an interview on Thursday, said the company was only consuming money.
He said plans are underway to float a new Rivers transport company that will be benefitial to Rivers people and the state government.
The state Governor, Nyesom Wike had in a statement said that the company was operating an illegal franchise scheme.