General News
Banks’ Divestment from Insurance Firms: Analyst Wants Shareholders to be Given Preference
Foremost stock analyst and shareholder in many insurance companies, Mr. Nonah Awoh has called on banks and insurance companies to carry shareholders along and allow them to take the driver seat in the determination of who buy the stocks that arises out of banks divesting from insurance companies. He stated that having laboured hard to acquire these shares; they would not fold their hands and watch people whose character and interest may be at variance with the original shareholders. According to Awoh, their fears are hinged on the fact that if the divestment process was not well handled; it may snowball into an unhealthy situation where the board and management of these insurance companies would be negatively influenced by the personal ambitions of the outsiders who may cash in on the opportunity. The share activist wants the divesting banks and insurance companies to allow the existing shareholders to take over the shares or throw the shares into the general public for acquisition. He stated that their fears is further heightened considering that similar situations had happened in the banks in the past where investors money got trapped in the banks liquidation. Another insurance shareholder, Adebisi Olawale, however feel otherwise. To him, throwing the shares into the open market was as good as allowing strategic investors to buy up the divested shares, stressing that what was important was the repositioning of these insurance companies. He added that there have been instances in the past stated where shares were acquired by cronies without the awareness of the existing shareholders that they were the true owners of the stated shares. However, he called on the insurance companies to give top priority to the shareholders in order to avoid friction which at the end will pitch the insurers in a battle of wits against the shareholders. He added that the insurance industry should not be allowed to drift from its present achievements, occasioned by the recapitalization and industry reform which has taken the industry to the next level. It will be recalled that the Central Bank of Nigeria (CBN) in continuation of its banking reforms, rolled out an order directing banks to divest from non-banking investments in order to have time to concentrate in core banking services. According to CBN, the former universal banking model created an unhealthy situation where banks were distracted from primary banking operations. The situation has already sent panicky waves beyond the shareholders as industry watchers fear that the divestment process may weaken the strength of some of these companies, considering the enormous premium that the divesting banks attracted due to their spread and clientele base. Sequel to this directive, some insurance companies have already started the divestment process. The recent case in point was the GTBank which announced a divestment of 68 percent equity in its insurance subsidiary, Guarantee Trust Assurance (GTA) plc. The notice stated that "the proposed divestment should also entail the sale of the bank’s equity stake in its insurance subsidiary – Guaranty Trust Assurance plc, which is also quoted on the trading floor."
General News
NRS Debunks Viral Claim of New Tax on Vehicle

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

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.
General News
NCC to Intensify Crackdown on Illicit Network to Protect Copyrights

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.

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

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
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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