E-Business
Carmudi Covers 85% Car Online Listing Market in Lagos- Muoneke

Amy Muoneke, the managing director, Carmudi (Nigeria) in assessment of the success story in Nigeria, said that the platform is gradually assuming a household name status as users now cut across different strata in the society.
Muoneke told Nigeria CommunicationsWeek that they are at a stage were dealers now call-in to list cars online, which “is a very big milestone for us. It means that the product is working. It means that people are willing to associate their self with us. When people say they sold through Carmudi it means that they are willing to pay their monthly subscription. They have seen the product and the benefit and they are comfortable to be associated with this brand”.
On the level of acceptance by car dealers, she said, “If 10 is the highest, we are around 8.5 or 9. I rate that because we have covered 85% of the dealerships in Lagos. We covered Berger market in terms of inventory we have on the website. Everybody in Berger market is on the Carmudi platform. Now we move to the next stage of making getting money for their subscription”.
Search trends noticed on Carmudi Nigeria, she said, “From November of last year we have ranked higher than our direct competitor when it comes to domain ranking.
Fraud in online business: carmudi’s proactive measures, Muoneke added, “We don’t collect money on the Carmudi website or do any form of payment. Any form of payment is done directly to the bank so that first of all cuts off a huge chunk of fraud from us. We direct all payment including the individual sellers to make payment to the bank. We also advice that car buyers visit the car dealership to see the car. What we provide on our website are the pictures, dealer name, address, phone number and emails. In addition to that we have partnerships with certified auto mechanics to offer pre vehicle purchase inspection.
Speaking on the Carmudi’s partnership with Autobox, the MD said, “For us we partnered with Autobox in a quest to become a household name. To become a house hold name you need to become a one stop shop for all automobile. We have cars, car care tips, certified mechanics, insurance and finance”.
The Auto Policy, The Government, The Forex & The Auto Market in 2016
“There hasn’t been any clear indication about a change in the policy by the government so as long as there has been none we will work on what we had last year. There will be growth. “Presently there is a slowdown in the rate of car importation and the fluctuating of the dollar so there will be some teething problems but there will be improvement.
On the fate of carmudi in era of automobile policy & manufacturing of new cars, “On Carmudi we have something for everyone, from the guy who wants to buy a used Toyota Corolla and a guy who wants to buy a Mercedes. We have dealers of news cars and used cars. Out platform is a place where anybody can visit and get a car within their price range.
Expand Plans: “For now u think we are present in every region that has huge clusters of car dealers. If in the future we find another huge cluster in a state we are not yet present then we will make our presence felt there.
On competition, said, “We will keep doing what we are doing. Our plan is to leverage on partnerships that will add value to the car buyers. It is to constantly add value to the dealers.
While admitting that Nigerians are very price sensitive, the Carmudi boss added “We can’t rally narrow down the price. We can only look at the most search brands. For the opast 3 quarters, the top four brands searched for on Carmudi Nigeria website is Camry, Corolla, Highlander and Mercedes. People also search for saloon cars more than SUVs.
Dissemination of Information on Insurance
“We have partnership currently with Custodian and are looking to expand on this not just including sales of insurance services but also educating the car buyer on the type of insurance and importance of insurance”.
Muoneke also spoke on the lack of skills as an issue in the ecommerce sector, adding that the ecommerce sector is new, but acknowledges that there are some certain skills that are needed. “But you have to understand that the ecommerce sector needs dedicated and smart people not just people with big cv’s or job experience.
While assessing the Nigeria’s ecommerce space, she said, “Wonderful. When I went to Ibadan I met a dealer who was telling one of his workers to bring out a car and clean it that someone was coming from Abakaliki to buy it and has already paid 50% of the money. Just look at the distance. If not because of E commerce there is no way the person in Abakaliki would have known about the dealer in Ibadan”.
She however, said Carmud is currently focused on driving penetration hence “We have over 170 million Nigerians and our aim is to get at least 10% of that population visiting and buying their cars via Carmudi Nigeria. E commerce is changing the lifestyle of people and we hope to ensure that this changes happens on both the dealer and customer side”.
E-Business
NITDA DG Reaffirms FG Commitment to Responsible and Inclusive AI

The Federal Government of Nigeria has reaffirmed its commitment to building a responsible, inclusive, and sovereign artificial intelligence ecosystem to enable Nigeria to transition from being a passive consumer of AI technologies to an architect and builder of indigenous AI systems.

This was said by the Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi CCIE, while delivering a virtual address at the InnovateAI Conference held in Lagos.
The conference brought together policymakers, technology leaders, innovators, and stakeholders to discuss the future of artificial intelligence and its role in driving Nigeria’s digital economy and national development agenda.
Inuwa outlined Nigeria’s ambition to transition from being a consumer of artificial intelligence technologies to becoming a builder and owner of AI systems that reflect national values and priorities, in line with the National AI Strategy.
“Our goal is not just to use AI, but to architect and build our own AI systems in Nigeria,” he said, stressing that the country must take ownership of its AI future.
He noted that Nigeria’s approach to artificial intelligence extends beyond innovation to include governance, infrastructure, data sovereignty, and policy evolution.
According to him, “Responsible AI is never a finished job; it is an iterative journey. Our policies must evolve as the technology evolves, and we must avoid frozen laws by adopting living policies that adapt over time.”
He cited the implementation of the Digital Economy and E-Governance Bill as a key mechanism for generating insights that will help refine AI regulations and governance frameworks.
Inuwa also highlighted the challenge of data representation in global AI systems, noting that most models are trained on non-African datasets, which often results in bias against local dialects, cultures, and demographics.
“If a model shows bias against a local dialect or demographic, we cannot just patch it. We must reinvest in infrastructure to retrain it with inclusive and representative local datasets,” he stated.
He added that building national AI infrastructure is critical to achieving data sovereignty and ensuring that Nigeria is not merely an end user of foreign AI systems.
He further called for strategic partnerships with global technology companies and hyperscalers to build AI infrastructure in Nigeria while aligning with local values and national priorities.
“The world today is a global village. We need to work with global players, but they must understand our local nuances and help us build the infrastructure to retrain and develop AI models that reflect our context,” he said.
The NITDA Director General explained that adopting a comprehensive AI lifecycle approach, from responsible data collection and governance to deployment and continuous feedback, will enable Nigeria to move from reacting to AI developments to proactively designing indigenous AI systems.
“Without understanding how AI models are trained, how decisions are made, and how models are retrained, it will be difficult to build a responsible and trustworthy AI system,” he warned.
He reaffirmed that the Federal Government is intentional about promoting responsible AI and is working closely with the technology ecosystem to co-design national AI guardrails. He described platforms such as the InnovateAI Conference and other national AI dialogues as critical to shaping Nigeria’s AI future.
E-Business
Mutual Benefits Assurance Settles ₦5.9bn Claims in January 2026

Mutual Benefits Assurance, a leading Nigerian insurance company, has paid a total of ₦5,937,665,353.57 in claims to policyholders in January 2026 alone, underlining its strong financial capacity and unwavering commitment to prompt claims settlement.

Mutual Benefits Assurance
A breakdown of the figures shows that ₦3,426,602,834.28 was paid under its General (Non-Life) Insurance portfolio, while ₦2,511,062,519.29 was paid across its Life businesses, including Group Life and Retail Life policies.
The significant payout within a single month reinforces Mutual Benefits’ reputation as a dependable insurer that honors its obligations swiftly and responsibly.
Commenting on the development, Olufemi Asenuga, Managing Director, Mutual Benefits Assurance Plc stated that claims settlement remains the core promise of insurance and the ultimate test of an insurer’s credibility.
“Insurance is built on trust. Our ability to settle over ₦5.9 billion in claims in one month demonstrates not only our financial strength, but also our deep commitment to our policyholders. At Mutual Benefits, we do not just sell policies. We stand by our promises,” he said.
With over three decades of operations, Mutual Benefits has consistently positioned itself as a strong and well-capitalised insurer.
The company operates both Life and General Insurance businesses and remains fully compliant with regulatory capital requirements as stipulated by the National Insurance Commission (NAICOM).
The January payout reflects Mutual Benefit’s robust underwriting standards, prudent risk management practices and efficient claims administration framework.
It also aligns with the company’s broader record of substantial claims settlement in recent years, reinforcing its standing as a trusted brand in the Nigerian insurance industry.
Mutual Benefits employs over 5,000 staff, managed by seasoned management team and an experienced Board of Directors. Industry observers note that prompt claims payment remains one of the most critical differentiators in Nigeria’s competitive insurance landscape.
By consistently settling valid claims without delay, Mutual Benefits continues to strengthen customer confidence, deepen market trust and expand its footprint across retail and corporate segments.
As the company begins 2026 on a strong footing, it reiterates its commitment to innovation, service excellence and delivering value to policyholders and stakeholders alike. Mutual Benefits Assurance focused on its mission to provide reliable risk protection solutions while maintaining the highest standards of professionalism and integrity.
E-Business
NITDA Warns Nigerians of Actively Exploited Microsoft Office Vulnerability

National Information Technology Development Agency (NITDA) has issued an urgent cybersecurity warning about a serious Microsoft Office vulnerability (CVE-2026-21509) that attackers are actively exploiting.

This advisory, shared through Nigeria’s Computer Emergency Response Team (CERRT.NG), highlights the risks of this flaw and recommends immediate action to protect systems.
Microsoft has released quick security updates to fix this vulnerability, which has a severity score of 7.8, showing it is a serious risk. Attackers have already used it in targeted attacks.
CVE-2026-21509 affects multiple versions of Microsoft Office, including Office 2016, Office 2019, Microsoft 365 Apps, Office 2021, and later versions.
This flaw allows attackers to bypass security features meant to stop harmful Object Linking and Embedding (OLE) controls. OLE is an older Microsoft technology that can be used to embed links or content, but it has often been exploited by malware.
By exploiting this flaw, attackers can create specially designed Office documents.
When a user opens these documents, they can run malicious code or gain further access to the system.
Exploitation requires user interaction, meaning attackers often trick people into opening harmful Word, Excel, or other Office documents. Common methods include using email attachments or files from untrusted sources.
Because Microsoft confirmed that the vulnerability is being actively exploited, they have made emergency security updates available outside their usual schedule. Users and organisations should:
- Install the latest Microsoft Office security updates for all affected versions.
- Restart Office applications for Office 2021 and later to ensure that the updates take effect.
- Use registry-based settings for protection if updates can’t be applied right away.
- Follow good cybersecurity practices, like using endpoint protection and filtering emails.
Microsoft’s updates for Office 2021 and newer versions are automatically applied, but need a restart of the applications to be active.
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