State Transport Company (STC) has terminated its contract with Prudential Solutions Limited.

The abrogation of the contract became necessary after Prudential Solutions failed to meet arrangement to settle its accumulated indebtedness to the State owned Transport Company.

Management of STC has turned down a payment arrangement presented to it by Prudential Solutions.

The arrangement suggested:

Pay lease of One Hundred Thousand Ghana Cedis (GHc 100,000.00) a month, and Six month period to settle only Four Hundred and Fifty Thousand Ghana Cedis (GHc 450,000.00) arrears.

The statement signed by new head of STC Nana Akomea has, therefore, directed Prudential Solutions Limited to return all assets and properties belonging to STC in their possession by the close of work Friday, 4 August,2017.