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The Need for Caution When Dealing With Brokers, Agents

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In sourcing for an insurance policy, some prospective buyers often get carried away by the sweet-selling efforts made to them by the insurance agents and brokers. Due to the sweeping financial implications of an action not well taken at the point of buying your policy, it is advisable that prospective buyers should be cautious when going for an insurance policy. Take your time in analyzing the various options before making a decision. Do not get forced into a decision by the pressure of the insurance agent. Insurance brokers have vested interests and they work for the insurance company and not you. Remember this when dealing with them. The more you pay to the insurance company the more the broker gets as a commission. There are some basic things you need to know when dealing with agents or brokers. First, you must need to understand the simple fact that insurance agents may go to any extent to sell their insurance product, however they do not sell any redundant product, hence one need to be extremely cautious. They will never highlight the drawbacks of their policies; hence one should himself clarify all doubts. They are most interested in obtaining the signatures of the client of the agreement papers. Each time you come across an insurance broker, there’s a desire to have a look on their career ups and down; often times one may be tempted to interrogate them regarding their business background. When dealing with these classes of people, sometimes, you may also think it necessary to watch their confidence and behaviour. They may tell you about what you are expecting and at the same time may think of some unwanted careless thoughts. When you are uncertain about anything, you must pursue what your mind states and do not have any business with the individual. You can locate different agents and have them complete the same assessment before you acquire someone whom can lay your confidence in and you are complacent with them. Your financial limitations must be the primary factor in deciding which broker or which policy you will opt for. The agent might try to convince you that a more costly policy may save you more money eventually. This is a possibility but just in case it is beyond your means don’t be talked into it. If the broker is still trying to sell a more expensive policy, ask him why you must comply and if you find the answer unsatisfactory you can always go in for another agency. Finding an insurance broker who you can trust and who works in your best possible interest may prove a stressful task for most people, but remember that the well being of you and your family depends totally on it. It is foolish to invest in a policy with such high end premiums that it results in your cutting down on daily necessities like food and medicines. Persons must avoid the advice of others and resist temptations regarding spending money or spending an excessive amount of money on unnecessary items. Conservation of funds must be a top priority until financial times are more secure. Also, it is important to know the broker deeply, making sure that he is registered under the National Council of Registered Insurance Brokers (NCRIB) who has the mandate to regulate the work of brokers. But above all things, the watch word is being careful before you put sign any contract agreement.


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General News

NRS Debunks Viral Claim of New Tax on Vehicle

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Nigeria Revenue Service (NRS) has denied reports that the federal government has introduced a new tax on vehicles.

NRS Debunks Viral Claim of New Tax on Vehicle

The clarification follows the circulation of a viral message online claiming that all vehicle owners would be required to start paying a new tax from July 1, 2026.

In a statement released on Sunday, the NRS said the information in the message is false and did not come from the agency or any official government institution.Nigeria Travel Guides

According to Dare Adekanmbi, spokesperson for the NRS, the viral message was designed to mislead the public. He explained that it was made to look genuine by using official government logos and formatting.

The message reportedly instructed owners of private, commercial, and corporate vehicles to pay an unspecified fee either online or through approved banks and agencies. It also included a website that was wrongly presented as an official government platform.

Adekanmbi stressed that the website mentioned is not connected to the government and warned Nigerians not to make any payments based on such information.

He said the NRS has not introduced any new vehicle tax and that any official policy or tax change would be properly announced through verified government channels.

The agency urged citizens to ignore the fake message and avoid falling victim to possible fraud. It also advised Nigerians to always confirm such information through trusted and official sources before taking any action.

The NRS further encouraged the public to follow its official communication platforms to stay informed about genuine tax policies, updates, and government directives.

 


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NCC to Intensify Crackdown on Illicit Network to Protect Copyrights

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National Copyright Commission (NCC) has reaffirmed that piracy remains a major threat to the nation’s creative economy, vowing to intensify its nationwide crackdown on illicit networks to protect intellectual property.

NCC to Intensify Crackdown on Illicit Network to Protect Copyrights

Pic credit…soundcloud.com

Dr. John Asein, director-general of the NCC, disclosed this in a statement to mark the 2026 World Book and Copyright Day.

The commission noted that piracy remains a major threat, undermining legitimate enterprise and eroding the economic value of creative works.

Asein lamented that inadequate distribution systems and limited access to books also constrain the growth of readership.

He described the event as an important occasion, which showcased the enduring value of books as foundations of knowledge, instruments of cultural preservation, and drivers of national development.

He described the theme for this year’s celebration, ‘Read Books, Respect Copyright,’ as a call on Nigerians to embrace reading as a lifelong habit, while recognising that respect for copyright is essential to sustaining creativity and rewarding authors.

The commission noted that Nigeria’s book industry has evolved significantly, from the post-independence emergence of indigenous publishing to today’s digitally driven ecosystem.

“Nigerian authors continue to gain global recognition, while publishers are expanding capacity. However, challenges persist,” he said.

The commission commended the National Intellectual Property Policy and Strategy, describing it as a bold step toward repositioning intellectual property as a driver of economic transformation.

The policy, according to him, provides a roadmap for revamping the book sector for the benefit of authors and publishers, and is accessible at ippolicy.ng.

The NCC also reaffirmed its commitment to inclusive access through the Marrakesh Treaty, as reflected in the Copyright Act, 2022, enabling accessible formats such as Braille and audio texts.

It urged Nigerians to respect copyright and purchase books only from authorised sources.


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Fusewall Holdings Acquires 100% Stake in Coloplus, Expands Telecom Infrastructure Footprint

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Fusewall Holdings, founded by Azeez Amida, has announced the acquisition of a 100 percent equity stake in Coloplus Worldwide Service Limited, in a move aimed at strengthening its position in Nigeria’s telecommunications infrastructure space.

Fusewall Holdings Acquires 100% Stake in Coloplus, Expands Telecom Infrastructure Footprint

Fusewall Holdings

The deal marks a significant milestone in Fusewall’s broader strategy to build an integrated and future-ready platform across key sectors, particularly within the country’s fast-evolving digital economy.

The transaction was led by Amida, whose role in structuring and executing the deal was described as pivotal. According to the company, his leadership helped align stakeholders and navigate complex negotiations to ensure a successful close while positioning the business for long-term growth.

A spokesperson for Fusewall Holdings said the acquisition represents “a deliberate step forward” in the company’s expansion strategy, noting that the focus remains on building platforms that combine operational efficiency, resilience, and scale.

Coloplus brings a substantial operational footprint to the deal, including access to about 900 partner locations and roughly 20 owned sites. This combination of reach and infrastructure control is expected to give Fusewall a strategic advantage as it scales operations nationwide.

Fusewall said it plans to deploy capital, strengthen governance structures, and enhance operational execution as part of the integration process. The move is expected to improve service delivery, boost infrastructure reliability, and support expansion into underserved and high-demand areas.

The acquisition also aligns with the company’s broader ambition to help bridge Nigeria’s telecommunications infrastructure gap by expanding connectivity, improving network resilience, and advancing digital inclusion.

Fusewall Holdings said the deal reflects its commitment to disciplined execution and long-term value creation as it continues to grow its footprint in Nigeria’s digital ecosystem.


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