General News
Operator Tasks Insuring Public to Read their Policies
Mr. Adewunmi Adewole, managing director of Best Deal Insurance Brokers Limited, has recommended the use of insurance brokers for the insuring public whenever they are taking up any insurance policy. This is the most logical way to avoid the pitfalls that may arise from unpaid premiums and other misunderstanding between the insurer and the insured. The veteran insurance practitioner noted that in his three decades of practice, he has learnt that most people don’t read insurance policies. Tracing the sad development he says “I have been on this job for the past 29 years and it’s quite painful to observe that, even among my friends, are those who don’t read their policies.” He advised the public to always be attuned with insurance policies and liaising with their broker to ensure a fair deal. “People should lean to take the insurance contract seriously.”
Adewole noted that, over the years, he has learnt that most agents sometimes don’t go into the nitty-gritty of dealing with the public. Their major concern he says, “is to earn their commission and off they go, leaving the insured at the mercy of the insurance company”.
He called on government to assist the brokers noting that, “most businesses of the underwriters come from the Brokers.” Government should do something for the brokers just like they have done in the area if pension with the setting up of Pension commission (PENCOM).
Lamenting government’s lips service to the industry, the veteran broker wants government to make the insurance of public buildings compulsory in Nigeria .
According to him, “if this is done, insurance business will pick-up and all insurance companies will smile.
He also wants the Ministry of Finance to work with National Assembly in other to enact relevant laws aimed at making insurance for public building compulsory.
“The insurance companies are loosing lots of funds through many unregulated areas. For instance, government ought to enforce the rule that any employer who has at least five people in his payroll must take a group insurance policy. Those who are unable to do so should at least take a pension scheme.”
He frowned at the activities of the unlicensed insurance agents and brokers who are milking the industry dry. According to him, the sector is loosing millions of naira to these unlicensed agents and brokers. “These unscrupulous elements give out fake certificates to people without caring about the implications.” He stressed that in the nation’s licensing offices, “there is no insurance company’s certificate that they cannot procure,” adding that because of the low level of awareness, “even the police cannot distinguish between the original and fake certificates.”
This problem is further compounded by both the lukewarm attitude of government and the intrigues in the industry which he said, “has encouraged the influx of fake and cheap certificates.” Adewole also identified third party insurance, as another area that has fallen to unregulated scene. “What operates now” he says is that motorist pay between N1, 000 to N5, 000 to obtain third party certificate. In his word, “rather than going for these cheap and often fake certificates, people should go for a comprehensive policy”. The advantage of this, he explains, is that “it covers your car, liability against third party and bodily injury or death to the third party” He called for an aggressive collective action against these fake licensing operators, noting that “with comprehensive cover, one is sure that if his car is stolen, the insurance company will pay.”
He blamed government’s insensitivity as one of the problems bedeviling the industry. “For instance, why should government wash its hands off insurance ownership? They sold off their shares in NICON. At the moment, it’s only in the Nigeria Agricultural Insurance Company (NAIC) and to some extent, Niger Insurance, that government still has some interests.”
The insurance boss advised the insurance public to always pay their premiums. He likened non payment of premiums to building a house without providing the means or paying the bricklayer,” adding that, “no insurance company will use its own money to pay when the need arises.”
He emphasized that brokers are necessary as they “are trained to guide the insured; noting that “there is a clause in the business which says no premium, no cover.” Once this is applied, he said, most insurance companies are not likely to pay unless it’s a large claim, which might even lead to litigations. One reason why the public should go through the broker, according to him, is that they know the insurance companies in and out.
“That is why the banks are speedily taking up many traditional insurance grounds in addition to their core duties.” What makes this issue of grave concern to all is that Nigeria belongs to the global community. Therefore, it is expected that the rule of he game is applied as it is done elsewhere.
He explained that in the western world, nobody toys with insurance. In South Africa , for instance, insurance practice is highly developed. Besides, even in some West African Countries of which Nigeria is one, insurance business is highly regarded.
In the last decade, it has been established that business in Nigeria is loosing to the smooth operational environment in the sub region including insurance.
He called for an awareness campaign in order to make the public develop interest in insurance. The public also, he says “should brace up to the challenges by insuring all insurable issues such as property, car and even life.”
General News
NIMC Disowns Fake NIN Portal

National Identity Management Commission (NIMC) has warned Nigerians to disregard a viral online flyer claiming that a free portal has been opened for the correction of National Identification Number (NIN) data.

In a statement posted on its official X (formerly Twitter) handle, the commission described the flyer as fake and cautioned the public against using any links associated with it.
“The public is hereby advised not to use the above for modifying their NIN data. All modifications should only be done via the official channel,” NIMC stated, directing users to its authorised self-service portal.
The misleading flyer, which has circulated widely on social media, carries the logos of NIMC and the federal government, falsely claiming that authorities had launched a special correction portal in response to a “high level of complain.”
It lists services such as name, gender, and date of birth corrections, and provides links redirecting users to a suspicious “gvly.xyz” domain—an address the commission says is not affiliated with any government platform.
NIMC noted that the flyer has since been marked “FAKE” in red, indicating it is being recirculated as part of efforts to debunk the misinformation.
The Commission reiterated that all NIN data modifications can only be carried out through its official self-service platform, urging Nigerians to remain vigilant and avoid falling victim to online scams.
General News
Moniepoint Acquires Orda Africa to Transform Africa’s $50Bn Restaurant Sector

Moniepoint Inc. (“Moniepoint” or the “Company”), Africa’s all-in-one financial ecosystem platform for individuals, businesses and their customers, today announced the acquisition of Orda Africa (“Orda”), a leading cloud-based restaurant management platform operating in Nigeria.

Moniepoint
Under the terms of this acquisition, Orda will become part of the Moniebook platform, Moniepoint’s all-in-one Point-of-Sale (POS) and business management platform. Since launching its business management tools product in 2025, Moniebook has rapidly become the go-to platform for thousands of African businesses seeking integrated financial and operational tools, seamlessly unifying payments and bookkeeping in one platform.
With Orda, restaurant owners can now gain access to this proven ecosystem that creates unprecedented opportunities to scale operations, optimize performance, and access credit, as well as the extensive reach of Moniepoint which has powered growth for millions of African businesses.
The acquisition comes as Africa’s food service industry experiences unprecedented growth, with the sector valued at $50 billion and Nigeria’s market alone projected to reach $19.31 billion by 2030, growing at 11.73% annually. With Orda’s restaurant-focused capabilities now part of the Moniepoint ecosystem, the platform is well-positioned to capture this opportunity.
Founded in 2015 by Tosin Eniolorunda and Felix Ike, today Moniepoint has grown into one of Nigeria’s leading distributors of financial services as well as a trusted platform for many of the country’s MSMEs especially in the informal sector.
The company has considerably expanded its offerings to include digital payments, business and personal banking, credit, cross-border payments, and business management tools with a customer base exceeding 20 million active businesses and personal banking customers and processes over US$250 billion in digital payments transaction value annually.
Tosin Eniolorunda, Co-Founder and Group CEO of Moniepoint Inc., said: “The food industry isn’t just about feeding people, it’s a major source of jobs and daily survival for many Africans. It highlights how vital the informal sector is, not just for the economy, but for everyday life across the continent.
Data has shown us that Africa’s restaurant sector is one of the continent’s most dynamic economic engines, yet the majority of food businesses still operate with manual processes and fragmented tools. By bringing Orda into Moniepoint, we are giving restaurant owners what they deserve: one simple platform that handles everything from managing their kitchen to growing their business. Our goal remains to create financial happiness for Africans, giving them the tools to reach their full potential and that’s exactly what we’ve built here.”
Founded in 2020, Orda was built to give Africa’s small and independent restaurants the tools they need to run more efficiently, providing a purpose-built software to businesses that had long operated without it.
Guy Futi, CEO of Orda, reassured existing customers: “Orda has found the perfect home in Moniepoint. We have spent years building deep expertise in restaurant operations, but we have always known that to truly transform the industry, we needed to connect that expertise with comprehensive financial infrastructure.
“That’s exactly what this integration delivers. For our customers, we are assuring a smooth transition with no disruption to the platform and retained access to the support you are used to. What changes is your access to opportunities.
“Over the coming weeks, being part of Moniepoint means you’ll have more tools, more reach, and more ways to grow your business than ever before”
Combining their respective strengths, Moniepoint and Orda deliver a purpose-built solution that empowers food businesses at every scale to manage orders, track inventory, pay suppliers, and access working capital, all in one seamless experience.
This move represents a demonstrated commitment to building a dedicated financial infrastructure designed around the unique complexity of Africa’s food economy.
For the millions of food entrepreneurs across the continent, from the everyday buka owner to the high-end restaurateur, this acquisition means less time managing multiple tools or carrying out arduous manual work and more time doing what they do best – feeding Africa.
General News
Tech Firms Sack over 45,000 so Far in 2026

More than 45,000 jobs have been cut across the global technology sector in the first few months of 2026, according to data from RationalFX, signalling that the industry is still adjusting after a period of aggressive hiring rather than returning to a full growth phase.

“In 2025, automation, artificial intelligence, and sustained cost-discipline measures drove much of the downsizing, with entire departments restructured or eliminated in favour of leaner, AI-assisted workflows. This trend has continued full steam into 2026,” said Alan Cohen, analyst at RationalFX.
According to the report, if the current rate of redundancies is sustained, total layoffs in 2026 could surpass the 245,000 recorded in 2025.
The majority of these layoffs have been concentrated in the United States, with major companies continuing to trim their workforce despite stable core operations.
Amazon has announced approximately 16,000 job cuts this year, while Block has also reduced thousands of roles as it tightens operations and shifts focus towards artificial intelligence.
There are indications that further reductions may follow.
Meta is reportedly considering additional layoffs as it increases investment in AI infrastructure, while PayPal and Klarna are reassessing spending and hiring strategies amid ongoing uncertainty.
Established technology firms are also undergoing restructuring. Dell has reduced its workforce by around 11,000 over the past year as part of a broader reorganisation, while Salesforce has cut approximately 1,000 roles in 2026 while aligning its teams more closely with AI-driven products.
Outside the United States, layoffs have been smaller in scale but more geographically dispersed.
Australia has reported around 2,650 job cuts so far this year, followed by Sweden with roughly 1,923 and Netherlands with about 1,700.
Other markets have also been affected. Israel and India have recorded approximately 1,539 and 1,520 layoffs respectively, with Israel’s startup ecosystem particularly sensitive to tighter funding conditions, while in India, both startups and larger IT firms have reduced headcount as global client spending slows.
In Singapore, around 1,016 layoffs have been reported, reflecting a softer hiring environment across Asia’s major technology hubs, where companies are adopting a more cautious approach amid uneven demand.
Across Europe, job cuts have been comparatively limited but still noticeable.
The United Kingdom has recorded around 1,000 layoffs, while Czech Republic and Germany have seen smaller reductions.
The broader trend suggests that technology companies are shifting towards leaner operations and more defined priorities following years of expansion. Increasing investment in automation and artificial intelligence is also reshaping the types of roles in demand.
For employees, the impact is becoming increasingly visible, with hiring slowing and becoming more selective. While opportunities remain, companies are taking a more measured approach to recruitment compared to the rapid expansion seen in previous years.
Further credit… .storyboard18.com
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