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Facilitating Transit Service-Delivering through Courier Insurance

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Courier businesses are expanding rapidly these days with the rise of high quality courier services. The business has been further brought down to a level where intercity commercial vehicles have embarked on a form of courier service. Out of every two commercial buses that ply the Lagos –Eastern routes, it is not unlikely that one of them is carrying out a courier service. But no matter the company rendering the service, from the multinational courier companies to the local, the underlining factor ids that insurance is very vital for the goods in transit. Quality is definitely the keyword here and customers are demanding more and more quality improvements from courier service providers. One of the main aspects that represent good courier service is the availability of courier insurance. It is important for both customers and courier service providers, protecting goods being shipped from unwanted damages and losses. We all know that courier insurance is mainly a combination of three forms of insurances, vehicle insurance, goods-in-transit insurance, and of course public liability insurance. The most important insurance for courier businesses would be goods-in-transit insurance, providing coverage to goods being shipped. There are several advantages of using goods-in-transit insurance.
The main advantage of using goods-in-transit insurance is of course protection. Courier service providers are not tied up with damage claims should anything happen to goods being shipped; it is covered by goods-in-transit insurance. Customers will see this as extra protection, increasing their trust and overall satisfaction. As a matter of fact, goods-in-transit insurance can be considered mandatory, since most customers will opt for courier services offering such insurance as part of their services. With the increase of protection, your courier service will gain the advantage of being worthy of trust. This will seriously boost your company’s image, gaining more and more of your customers’ trust. There is no doubt that goods-in-transit insurance is good for business and it will potentially increase your company’s income by gaining more customers. Once known as reliable, your courier business will grow to a level you have never predicted. The only problem with goods-in-transit insurance is the cost. The cost of getting such protection can be relatively high. There are, however, several ways to overcome this. You can purchase a goods-in-transit insurance plan as part of your overall courier insurance plan. You will be able to get better rates, since you are purchasing insurance plans as an integrated solution. Another way is to add goods-in-transit insurance costs as part of your shipping cost. Considered to be direct costs, your customers may be the one paying for goods-in-transit insurance fees. And of course, you can add goods-in-transit insurance as an optional service. When shipping goods, customers will be able to choose whether or not to use goods-in-transit insurance and by so doing, you can keep your shipping cost to a reasonable level while still keeping goods-in-transit insurance as part of your overall services. Courier insurance, especially goods-in-transit insurance, will surely bring advantages to your courier business. The cost of getting such insurance plans is reasonable, especially with a lot of insurance companies providing bundled insurance plans for courier businesses. You will be safely protected from any unwanted misfortune and your customers will consider your courier service reliable. Be sure to compare quotes before signing up for courier insurance plans; finding great insurance coverage at a reasonable rate is an easy task to complete.


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EFCC Detains Ayeni, Ex-Skye Bank Chairman over Alleged N36.5Bn, $30m Fraud

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Economic and Financial Crimes Commission (EFCC), has detained Tunde Ayeni, former chairman of defunct Skye Bank Plc, for alleged fraud involving N36.5 billion and $30 million.

EFCC Detains Ayeni, Ex-Skye Bank Chairman over Alleged N36.5Bn, $30m Fraud

Tunde Ayeni, former chairman of defunct Skye Bank Plc,

This follows the probe of alleged diversion of N36.5 billion and $30 million secured as loans from Polaris Bank Plc through companies linked to Ayeni.

He was arrested by EFCC operatives in Abuja on April 23, 2026, and is still been held in custody as at the time of filling the report.

Dele Oyewale, spokesperson, EFCC, confirmed the arrest on Friday but declined to provide further details.

Ayeni is under investigation for diverting funds obtained for marine security, electricity distribution, and real estate projects into other unknown projects.

Investigators allege the loans were instead channelled into telecom investments tied to NITEL/MTEL assets via a NATCOM account.

About 12 firms believed to be connected to Ayeni are also under investigation for their role in securing the loans.

The EFCC is expected to file charges once the investigation is concluded.


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Summit Factory Opens in Ogun, Targets Hygiene Market Expansion

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L-r: Sadiq Ali, General Manager, Summit Household Solutions Limited; Oba Abdulakeem Odunaro, Onikotun of Otun, Ota; Hon. Wasiu Adewale Lawal (FCA), Executive Chairman of Ado-Odo/Ota LGA; Mr Kehinde Akintomide, Permanent Secretary, Ministry of Commerce, Trade and Investment, Ogun State; and Mojeed Maaradesa, Manufacturing Manager, during the commissioning of the ultra-modern factory by Summit Household Solutions Limited in Ota on Thursday.
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Summit Household Solutions Limited has opened its ultra-modern manufacturing facility in Ota, Ogun State, as part of its efforts to scale production of home and personal care products in Nigeria.

The plant, which started operations in April 2025, produces items such as dishwashing liquids, handwash, sanitisers and multipurpose liquid soaps, with an annual capacity estimated at 7,000 tonnes.

Commissioning the facility on behalf of Governor Dapo Abiodun, the Permanent Secretary, Ministry of Commerce, Trade and Investment, Mr Kehinde Akintomide, said the investment reflects growing confidence in Ogun State’s business environment.

He noted that the state hosts over 6,000 manufacturing firms and described the development as consistent with ongoing efforts to promote industrialisation, attract investment and reduce reliance on imports under the Federal Government’s Renewed Hope initiative.

Akintomide disclosed that the factory has already employed more than 50 Nigerians, with projections to exceed 250 jobs as operations expand.

In his remarks, the General Manager of the company, Mr Sadiq Ali, said the facility represents a major step in Summit’s growth plans, adding that its flagship brand, 2Sure, currently leads production at the plant.

He also revealed that the company is preparing to introduce new home and personal care products later this year.

Summit Household Solutions manufactures the 2Sure brand and has expanded into the personal care segment with Lewar, a premium beauty soap line positioned for quality and affordability.

Among dignitaries present were the Onikotun of Otun, Ota, Oba Abdulakeem Odunaro, representing the Olota of Ota, Prof. Adeyemi Abdulkabir Obalanlege; the Agba Akin of Ota, Chief Dada Olusola; Director of Investment, Ms Yemisi Folarin; Director of Industrial Promotion, Mr Femi Adeboye; former Managing Director of 7Up Bottling Company, Mr Ziad Maalouf; and the Chief Executive Officer of OmniRetail, Mr Deepanker Rustagi.

Speaking at the event, Maalouf, who conceived the 2Sure brand during his time at 7Up Bottling Company, expressed satisfaction with its growth and commended Summit Solutions Limited for advancing the brand.

The special guests were conducted around the facility, and the programme was concluded with a luncheon.

 


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US Freezes $344m in Crypto Linked to Iran in Major Crackdown

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The administration of Donald Trump has frozen $344 million in cryptocurrency allegedly linked to Iran, marking a sharp escalation in financial pressure on Tehran.

US Freezes $344m in Crypto Linked to Iran in Major Crackdown

The move comes amid stalled diplomatic efforts and a fragile ceasefire in the region.

U.S. Treasury Secretary Scott Bessent confirmed that authorities are sanctioning multiple crypto wallets tied to Iran. “We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime,” he said.

Tether, which facilitated the transactions, said it worked with U.S. authorities to freeze the funds across two wallet addresses after receiving intelligence linked to unlawful activity.

A U.S. official said blockchain analysis revealed “material links” to the Iranian regime, including transactions routed through intermediary addresses connected to wallets associated with the Central Bank of Iran.

Responding to the development, Tether CEO Paolo Ardoino said the company does not tolerate illicit use of its stablecoin. “USD₮ is not a safe haven for illegal activity. When there is credible linkage to sanctioned entities or criminal networks, we act immediately,” he stated.

The crackdown underscores the growing reliance of sanctioned states on digital assets to bypass traditional banking restrictions. Data from Chainalysis shows Iran’s cryptocurrency holdings reached $7.8 billion in 2025, with the Islamic Revolutionary Guard Corps reportedly controlling about half.

Analysts say while the freeze is significant, Iran has historically adapted to sanctions. Daniel Tannebaum of the Atlantic Council noted that targeting third-party actors enabling such transactions may be key to increasing pressure.


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